Socially Responsible Investment and Corporate Social and Environmental Reporting in the UK: An Exploratory Study

Friedman, Andrew L.; Miles, Samantha

doi:10.1006/bare.2001.0172

Cited by 247 publications

(158 citation statements)

References 12 publications

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“…Following the theoretical debate on the relationship between reputation and CSD (Friedman and Miles, 2001;Toms, 2002;Hasseldine et al, 2005;Bebbington et al, 2008), this study empirically investigates whether there is a relationship between reputation and CSD, and it develops and tests a descriptive model on corporate sustainability disclosure in terms of commitment to stakeholders, financial performance and media exposure, after controlling for other relevant variables.…”

Section: Discussionmentioning

confidence: 99%

“…The literature has not considered the concept of reputation as being a determinant of sustainability disclosure, even if legitimacy and reputation are somewhat overlapping concepts (Deephouse and Carter, 2005). As stated by Friedman and Miles (2001), reputation can be conceived as a determinant of sustainability disclosure since companies show externally that they are aware of the need for managing a wider range of social and environmental issues. Other authors, following signalling theory (Toms, 2002;Hasseldine et al, 2005), argue that companies engage in sustainability reporting as a way to signal their reputation to stakeholders.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…As stated by Friedman and Miles (2001), reputation can be conceived as a determinant of sustainability disclosure since companies show externally that they are able to sustain sound market performance, but are also aware of the need for managing a wider range of social and environmental issues. If this is the case, then the voluntary disclosure on corporate actions and outcomes should reflect their behaviour since the reputational risk they incur when communicating false information would likely have a wide and severe effect on their reputation (Roberts and Dowling, 2002).…”

Section: H1mentioning

confidence: 99%

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Sustainability Disclosure and Reputation: A Comparative Study

Michelon

2011

Corp Reputation Rev

228

203

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Drawing on legitimacy theory, we discuss that a company's reputation is a determinant of sustainability disclosure. Specifically, we consider the concept of reputation into three dimensions for analysis: stakeholders' commitment, financial performance and media exposure. This paper differs from previous social and environmental reporting studies in that it investigates both internal and external contextual factors that influence disclosure practice. We claim that companies with a good financial performance, that are adopting an active strategic position towards stakeholders and that are exposed to significant public pressure are more likely to use sustainability disclosure in order to communicate their legitimacy to operate to stakeholders. Moreover the paper analyses a wide range of corporate reports for their social and environmental content using an international sample that allows for a comparison of disclosure practices among Continental European, UK and USA companies. Our results show that stakeholder commitment and media exposure are positively associated with sustainability disclosure. Moreover, we find evidence that the drivers of disclosure vary by information type.

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Section: Discussionmentioning

confidence: 99%

Section: Theoretical Frameworkmentioning

confidence: 99%

Section: H1mentioning

confidence: 99%

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Sustainability Disclosure and Reputation: A Comparative Study

Michelon

2011

Corp Reputation Rev

228

203

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“…10 Fifth, we control for the potential influence of institutional investors, since there is some evidence of institutional investors' influence on strategic decisions regarding CSR (Cox et al 2008;Graves and Waddock 1994;Johnson and Greening 1999), as described above. However, there are only a handful of empirical studies on the role of institutional shareholders in CSR disclosure, of which some report on a general passivity of institutional investors (Friedman and Miles 2001;Miles et al 2002), whereas others observe a trend of growing active engagement of institutional investors (Sparkes and Cowton 2004). Thus, it is not clear whether institutional shareholders actually do have an influence on environmental disclosure, let alone whether this influence is of a positive or negative nature.…”

Section: Control Variablesmentioning

confidence: 99%

Secondary Stakeholder Influence on CSR Disclosure: An Application of Stakeholder Salience Theory

2015

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The aim of this study is to analyse how secondary stakeholders influence managerial decision-making on Corporate Social Responsibility (CSR) disclosure. Based on stakeholder salience theory, we empirically investigate whether differences in environmental disclosure among companies are systematically related to differences in the level of power, urgency and legitimacy of the environmental non-governmental organisations (NGOs) with which these companies are confronted. Using proprietary archival data for an international sample of 199 large companies, our results suggest that differences in environmental disclosures between companies are mainly associated with differences between their environmental stakeholders' legitimacy. The effects of power and urgency are of an indirect nature, as they are mediated by legitimacy. This study improves our understanding of CSR disclosure by demonstrating that, next to the welldocumented effect of company characteristics, stakeholder characteristics are also important. Besides, it provides scarce empirical evidence that not only primary stakeholders, but also secondary stakeholders are influential with regards to management decision-making. And more specifically, it offers insight into why some stakeholder groups are better able to influence disclosure decisions than other. The results also have important practical implications for managers of both environmental NGOs and large companies. For managers of environmental NGOs the results provide evidence of the most successful tactics for having their environmental information demands satisfied by companies. For company management the results provide insights into the most important stakeholder characteristics, on the basis of which they may develop strategies for proactively disclosing environmental information.

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“…An advanced corporate reputation acts as both an intangible asset and a source of strategic advantage increasing companies´ long term ability to create value (Caves and Porter, 1977) since corporate reputation is composed of a company´s unique set of skills in delivering both economic and non-economic benefits (Fombrum, 1996). Sustainability is increasingly seen as a determinant of corporate reputation since firms show externally that they are aware of the need of managing a wider range of social and environmental issues (Friedman and Miles, 2001;Hillenbrand and Money, 2007). Furthermore, this concept is relied upon to enhance corporate reputation (Becker-Olsen et al, 2006;Pirsch et al, 2007) and academic literature has recently suggested that companies may use sustainability as a way to manage their reputation risk (Bebbington et al, 2008).…”

Section: The Importance Of Sustainability In Creating a Superior Corpmentioning

confidence: 99%

Sustainability Dimensions: A Source to Enhance Corporate Reputation

Martínez

Bosque

2014

Corp Reputation Rev

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The aim of this paper is to enhance our understanding of the relationship between sustainability and corporate image and reputation according to the legitimacy theory framework since the current academic literature does not have an understanding of how sustainability and corporate image and reputation interact. Authors conducted a survey to test the hypotheses. The study was tested using data collected from a sample of 382 Spanish consumers. The proposed hypotheses were analyzed through a structural equation model showing that sustainability plays a vital role as antecedent of both corporate image and reputation. Findings suggest that the economic, social and environmental domains of sustainability present a direct and positive relationship with both corporate image and reputation.

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Socially Responsible Investment and Corporate Social and Environmental Reporting in the UK: An Exploratory Study

Cited by 247 publications

References 12 publications

Sustainability Disclosure and Reputation: A Comparative Study

Sustainability Disclosure and Reputation: A Comparative Study

Secondary Stakeholder Influence on CSR Disclosure: An Application of Stakeholder Salience Theory

Sustainability Dimensions: A Source to Enhance Corporate Reputation

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