El consejo de administración y las memorias de sostenibilidad

Ariza, Lázaro Rodríguez; Aceituno, José Valeriano Frías; Rubio, Raquel García

doi:10.1016/j.rcsar.2013.02.002

Cited by 34 publications

(40 citation statements)

References 96 publications

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“…On the other hand, the responsibility for CSR disclosure decisions lies with the BD (Michelon & Parbonetti, 2012;Rodríguez et al, 2014). This is theoretically supported by Agency (Jensen & Meckling, 1976) and Stakeholder (Freeman, 1984) theories.…”

Section: Csr Disclosurementioning

confidence: 90%

“…This is generally perceived as a mechanism to secure CSR reports' credibility (Fernández, Romero, & Ruiz, 2014;Simnett, Vanstraelen, & Chua, 2009) and quality Perego & Kolk, 2012). On the other hand, the responsibility for CSR disclosure decisions lies with the BD (Michelon & Parbonetti, 2012;Rodríguez et al, 2014). This is theoretically supported by Agency (Jensen & Meckling, 1976) and Stakeholder (Freeman, 1984) theories.…”

Section: Csr Disclosurementioning

confidence: 98%

“…Normally, company size is significantly and positively associated with the level of voluntary disclosure (Belkaoui & Karpik, 1989;Hackston & Milne, 1996). More recently, several researchers have confirmed that a firm's size can play a relevant role in its CSR disclosure (Michelon & Parbonetti, 2012;Michelon et al, 2015;Rodríguez et al, 2014).…”

Section: Csr Disclosurementioning

confidence: 99%

“…However, main disclosure theories, such as Agency and Political Cost theories, argue for a positive correlation (Reverte, 2009). Nevertheless, most of the empirical evidence has not found any significant results on CSR disclosure (Michelon & Parbonetti, 2012;Rodríguez et al, 2014;Said, Zainuddin, & Haron, 2009). …”

Section: Csr Disclosurementioning

confidence: 99%

“…This document aims to inform stakeholders about the social, environmental and economic impact (Triple Bottom Line approach -Elkington, 1998) of companies' activities during a given financial year (Rodríguez, Frías, & García, 2014).…”

Section: Csr Disclosurementioning

confidence: 99%

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Does the Institutional Environment Affect CSR Disclosure? The Role of Governance

Rodríguez

Escobar‐Pérez

2016

Rev. adm. empres.

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DOES THE INSTITUTIONAL ENVIRONMENT AFFECT CSR DISCLOSURE? THE ROLE OF GOVERNANCE Há Influência do ambiente institucional nas práticas de divulgação de RSC? O papel da governança ¿El entorno institucional influye en las prácticas de revelación de información de la RSC? El papel del Gobierno Corporativo ABSTRACTThe aim of this article is to analyze whether the institutional environment has a direct effect on Corporate Social Responsibility (CSR) reporting practices or if this effect is explained by the influence of the institutional environment on Corporate Governance (CG) mechanisms. To conduct our study, we focused on two countries that reflect different types of institutional environment: relation-based (Brazil) and rule-based (Spain). Based on our results, we can affirm that the institutional environment influences CG mechanisms (Board Size and Reference Shareholder) as well as companies' CSR disclosure. Additionally, the CG mechanisms affected by the institutional environment also help to explain differences in CSR reporting practices. As relation-based societies evolve into rules-based environments, the information disclosed about CSR becomes more complex due to a strengthening of CG mechanisms.KEYWORDS | Corporate governance, disclosure, corporate social responsibility, institutional environment, ownership structure. It is theoretically consistent with Institutional Theory to affirm that organizations adapt their structures and policies to institutional norms (Dimaggio & Powell, 1983) in order to survive in the market. RESUMOHowever, research on the effects of the institutional environment can be complex due to the significant difficulty to isolate variables and distinguish those effects from the impact the institutional environment has on other internal-context variables (Adams, 2002).In this perspective, we should consider that this institutionalization process also affects Corporate Governance In our study, we used measures that reflect the complexity of companies' CSR reporting. We used an index intended to reflect CSR reporting practices; we considered also the actions taken to increase the credibility and quality of such disclosures (Amran, Lee, & Devi, 2014;Boiral, 2013); the extent to which the disclosed information followed the Global Reporting Initiatives (GRI) guidelines; whether such adequacy was subject to external checking; and, finally, whether the information had been assured. With regard to CG mechanisms, we focused on the ones indicated by the literature as having an influence on CSR reporting practices: Board Size, Board Independence, Board Activity, CSR Committee, and Reference Shareholder.Considering our results, we can affirm that the institutional environment has a strong influence on the complexity of the CSR reporting practices as well as on two of the CG mechanisms analyzed:Board size and the presence of a Reference Shareholder. Moreover, these two CG characteristics are the ones that significantly affect CSR disclosure. When CG variables are introduced in the analysis, the instit...

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Section: Csr Disclosurementioning

confidence: 90%

Section: Csr Disclosurementioning

confidence: 98%

Section: Csr Disclosurementioning

confidence: 99%

Section: Csr Disclosurementioning

confidence: 99%

Section: Csr Disclosurementioning

confidence: 99%

See 3 more Smart Citations

Does the Institutional Environment Affect CSR Disclosure? The Role of Governance

Rodríguez

Escobar‐Pérez

2016

Rev. adm. empres.

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Corporate social responsibility reporting and corporate governance mechanisms: An international outlook from emerging countries

Gallego‐Álvarez

Pucheta‐Martínez

2019

Bus Strat Dev

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Within corporate governance, the board of directors plays a major role in improving corporate transparency by increasing the disclosure of corporate social responsibility (CSR) information. In this paper, we analyse the effect of board composition, particularly board independence, board gender diversity, CEO duality, and the presence of a CSR board committee on CSR reporting. Evidence of this effect is still scarce when it concerns the effect of corporate governance mechanisms and CSR disclosure in firms pertaining to emerging market economies, and for this reason, our study focuses on this type of country. Our sample comprises 934 international firm‐year observations from the following 10 countries with emerging markets: Brazil, Chile, China, Czech Republic, Egypt, India, Mexico, Russia, South Africa, and Thailand for the period 2004–2015. This classification of countries with emerging markets is based on the Morgan Stanley Capital International (MSCI) Emerging Markets Index. Drawing on agency and stakeholder approaches, we posit four hypotheses: board independence and CSR board committees positively affect CSR disclosure, whereas board gender diversity and CEO duality have a negative effect. The results obtained reveal that in emerging market economies, the presence of women on boards of directors is quite limited and, therefore, their participation in decision‐making is minimal. Furthermore, CEO duality discourages the disclosure of CSR information, which may be justified for the family orientation of most firms in these countries, where the CEO is usually also the chairperson of the board.

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Explanatory Factors of Integrated Sustainability and Financial Reporting

2012

Self Cite

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The complexity of the business world has led to growing demands being made of companies regarding the information provided on their financial performance, corporate governance and contribution to developing sustainability. In response, some leading companies have begun to publish integrated reporting, in the form of a document providing a coherent summary of this information, thus facilitating stakeholder engagement.This paper examines the validity of the hypotheses of the theories of agency and of signalling, and analyses the political costs and those borne by owners in voluntarily developing this new type of business document. More specifically, in order to determine their prevalence among the suggested reasons for these paradigms, we analyse the effect of industry concentration, together with other factors, in the development of integrated reporting.The analysis of a non-balanced sample of 1590 international companies for the years 2008-2010, in which a logistic regression methodology is applied to panel data, reveals the negative impact of industry concentration on the development of a more pluralist report, simultaneously taking into account stakeholders, sustainability and the long-term viewpoint, as well as questions of responsible investment, business ethics and transparency. Copyright

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El consejo de administración y las memorias de sostenibilidad

Cited by 34 publications

References 96 publications

Does the Institutional Environment Affect CSR Disclosure? The Role of Governance

Does the Institutional Environment Affect CSR Disclosure? The Role of Governance

Corporate social responsibility reporting and corporate governance mechanisms: An international outlook from emerging countries

Explanatory Factors of Integrated Sustainability and Financial Reporting

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