Stakeholder engagement during the COVID-19 crisis: perspectives from South Africa

Abstract

Purpose This study aims to examine how governing bodies demonstrated stakeholder engagement during the time of the COVID-19 crisis in South Africa. Design/methodology/approach This study uses a qualitative approach based on semi-structured interviews with 18 participants, comprising of preparers of financial statements, board members and management consultants/advisors. The study also relied on the analysis of articles on corporate webpages and publications produced by professional bodies on the economic, social and environmental impact of COVID-19. Findings The results of this study indicated that governing bodies demonstrated stakeholder engagement during times of crisis through transparent reporting, corporate social responsibility initiatives and active stakeholder inclusivity. Originality/value This study contributes to the body of research on stakeholder engagement during a crisis and provides evidence of the role stakeholder inclusivity can play in responding to a crisis. The findings will be useful in understanding the importance of stakeholder engagement during times of crisis. The study is one of the first, to the best of the authors’ knowledge, to evaluate how stakeholder engagement principles can be followed by governing bodies during a crisis.

Circular economy disclosure and integrated reporting: The role of corporate governance mechanisms

“…More specifically, from an internal perspective, information regarding CE is pivotal for managers to develop strategic plans, define objectives and stimulate the adoption of business models focused on reducing, reusing and recycling resources in the production process (Ranta et al, 2018). From this standpoint, CE information also allows companies to more accurately assess the potential economic value, risks and opportunities deriving from their sustainable activities (Myeza et al, 2021). From an external perspective, CE information is relevant for investors and other stakeholders, who are increasingly attuned to sustainable practices driven by international political initiatives (Barnabè & Nazir, 2021).…”

“…Nevertheless, these studies have focused on reporting tools aside from IR, which do not allow for a holistic assessment of CE practices that must integrate the technical, social, environmental and financial dimensions (De Pascale et al, 2021). Thus, more recently, scholars have started investigating CE disclosure by adopting an integrated thinking lens (Barnabè & Nazir, 2021Kunc et al, 2020;Gunarathne et al, 2021;Myeza et al, 2021).…”

“…Some scholars have begun to explore CE disclosure in the IR context. Several studies have investigated how CE is disclosed in different geographical locations, such as Sri Lanka (Gunarathne et al, 2021) and South Africa (Myeza et al, 2021), combining the analysis of integrated and sustainability reports. Other scientific contributions have explored the interplay between IR and CE disclosure, providing theoretical insights in light of the integrated thinking principles (e.g.…”

“…These findings suggest that companies need more awareness about CE and that they must enhance their sustainability performances following environmental management principles. On the other hand,Myeza et al (2021) have attempted to provide a normative framework for integrating CE into strategic objectives and have assessed the CE information in the integrated reports of African mining companies. However, they have found an excessive generalisation in the CE communication of information, which does not allow an analysis of the quality of the information reported.…”

Social media to disseminate circular economy information. An empirical analysis on Twitter

“…Instead, little attention has been paid to other communication channels, such as websites and social media. Some studies have investigated integrated reports as communication channels of CE information by virtue of the potential of integrated thinking which allows to grasp the interconnections between the different types of capital and to provide a holistic view of the different aspects of company management, including those relating to circular models (Barnabè & Nazir, 2021, 2022Myeza et al, 2021). In this regard, Barnabè and Nazir (2021) conducted a content analysis of the integrated reports and a case study in order to examine the role of the <IR> framework in the dissemination of CE information.…”