The Normativity and Legitimacy of CSR Disclosure: Evidence from France

Chauvey, Jean-Noël; Giordano-Spring, Sophie; Cho, Charles H.; Patten, Dennis M.

doi:10.1007/s10551-014-2114-y

Cited by 310 publications

(388 citation statements)

References 55 publications

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“…Indeed, other empirical studies show that regulation is not always associated with improvement in the quality of non-financial information [27][28][29], or at least that regulation alone cannot guarantee a better level of non-financial disclosure [2,30,31]. The study by Ioannou and Serafeim [32] of the Chinese and South African contexts produced controversial results.…”

Section: Literature Reviewmentioning

confidence: 99%

Directive 2014/95/EU: Are Italian Companies Already Compliant?

et al. 2017

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According to Directive 2014/95/EU on disclosure of non-financial information from 2017 onwards, large companies (exceeding 500 employees) headquartered in Member States will be required to provide a series of social, environmental, and governance statements. The Directive was transposed into Italian law by Legislative Decree 254 of 30 December 2016.The aim of this paper is to evaluate the information gap for Italian companies and, consequently, the adjustments required by the new Directive on non-financial information. In order to analyze the level of non-financial and diversity disclosure, we created an assessment model called "Non-financial information score", which records the required information as a percentage. We apply it to a sample of 223 large companies. The results (with an average NFI score of about 49%) show that, in spite of what has previously emerged in the European debate about the application of the Directive on the part of large companies, an information gap remains, although the implementation of the directive should help to fill it in the coming years. In this sense, the potential contribution of the EU directive to non-financial disclosure in Italy appears to be greater than we had expected. Thus, in accordance with the literature, this paper appears to confirm the role of regulation in improving the quality of disclosure of non-financial information.

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Section: Literature Reviewmentioning

confidence: 99%

Directive 2014/95/EU: Are Italian Companies Already Compliant?

et al. 2017

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“…Despite the lack of such an obligation, companies used to make additional voluntary disclosures on non-financial information regarding CSR issues in different forms and extent, especially large, listed or public trust companies [20]. According to recent meta analyses [21,22], CSR disclosure research in developed countries has predominantly focused on North America (e.g., Thorne et al [23] in Canada, Cho et al [24] in United States), Australia (e.g., Deegan and Gordon [25]), and north-western Europe (e.g., Gray et al [26] in the UK, Cormier et al [27] in Germany, and Chauvey et al [28] in France). Less attention has been paid to southern Europe (e.g., Italy and Spain) and eastern Europe (e.g., Poland and Slovenia).…”

Section: Introductionmentioning

confidence: 99%

CSR Disclosure in Polish-Listed Companies in the Light of Directive 2014/95/EU Requirements: Empirical Evidence

2017

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On 15 December 2016, new non-financial reporting requirements were implemented in the Polish Accounting Act (PAA) which would be enforced from 1 January 2017. This act resulted from the transposition of Directive 2014/95/EU. New requirements oblige certain groups of entities to disclose non-financial information on environmental, social and employee-related matters, respect for human rights, anti-corruption and bribery matters. The purpose of this paper is two-fold. Firstly, this study analyses the new non-financial reporting requirements implemented in PAA, which were created from the transposition of the Directive. Secondly, this study investigates the current extent and quality of corporate social responsibility (CSR) reporting in companies listed on the Warsaw Stock Exchange (WSE) and their compliance with the new requirements. The sample comprises 150 selected listed companies on the WSE. The data were collected from annual reports, separate CSR reports, and companies' websites. Content analysis and a rating scale were used to measure the level of CSR disclosures. The results show that companies prefer annual reports to communicate voluntary CSR disclosures. In the majority of cases, CSR disclosure of companies were not compliant with the new requirements. Companies placed little emphasis on reporting about human rights and anti-corruption. This suggests that the new reporting obligation should increase the extent and quality of non-financial disclosure among Polish listed companies.

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“…Just like the study at hand, the IIRC found low levels of disclosure for a large sample of U.S. companies [27]. Chauvey et al found this also to be true for French firms with regard to CSR disclosure [66]. It also goes hand in hand with van Zyl's research study's conclusion that the integrated reporting process is still in the development phase.…”

Section: Discussionmentioning

confidence: 78%

“…If they do not, it is assumed that pressure groups and ultimately society will turn on these companies [65]. This is the reason why high risk sectors such as mining companies were among the first to manage reputation risk [66]. As pointed out above, according to legitimacy theory, corporations that operate in high profile industries will disclose more non-mandatory information than others [64,67,68].…”

Section: Control Variablesmentioning

confidence: 99%

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Reporting on Long-Term Value Creation—The Example of Public Canadian Energy and Mining Companies

Dilling

2016

Sustainability

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This study empirically analyzes reporting on long-term value creation for Canadian public mining and energy companies. It represents an important first step in determining the quality of reporting and its determinants for large public companies. In this exploratory empirical study, a reporting quality scoring index was developed to measure disclosure quality of long-term value creation reporting. Content analysis was used to examine financial and sustainability reports for a sample of twenty Canadian public mining and energy companies. Corporate disclosure quality scores were then calculated by assessing the quality of reporting in four main categories. The findings suggest that overall disclosure quality on long-term value creation is still low. Companies disclosing higher quality information on long-term value creation are of bigger size, operate in the basic materials sector, have an independent board, are listed in the Dow Jones Sustainability Index, experience higher stock volatility and use more words related to long-term value creation in their annual financial and non-financial reports. In order to increase and restore stakeholder trust and credibility as well as a tool to maintain stability, it is strongly recommended to introduce adequate mandatory standardization resulting in a set of internationally recognized reporting standards as well as a requirement for external assurance of reports.

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The Normativity and Legitimacy of CSR Disclosure: Evidence from France

Cited by 310 publications

References 55 publications

Directive 2014/95/EU: Are Italian Companies Already Compliant?

Directive 2014/95/EU: Are Italian Companies Already Compliant?

CSR Disclosure in Polish-Listed Companies in the Light of Directive 2014/95/EU Requirements: Empirical Evidence

Reporting on Long-Term Value Creation—The Example of Public Canadian Energy and Mining Companies

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