The determinants influencing the extent of CSR disclosure

Abstract

Purpose

The aim of this study is to investigate the potential effects of corporate governance and financial characteristics on the extent of corporate social responsibility (CSR) disclosure focusing on the US companies.

Design/methodology/approach

The sample consists of 366 companies from the Fortune 500 list for 2011. The environmental, social and governance disclosure score calculated by Bloomberg is used as a proxy for the extent of CSR disclosure. Multiple regression analysis was developed to identify factors that affect the extent of CSR disclosure.

Findings

Results show that company and board size is significantly and positively related to the extent of CSR disclosure, and companies with Chief Executive Officer (CEO) duality characteristics publish less information on their CSR disclosure, while there are significant differences between different industries and the extent of CSR disclosure.

Research limitations/implications

The research is based only on the presence or the absence of CSR disclosure without receiving the quality aspect of the CSR disclosure which could lead to misinterpretation. The results should not be generalized as the sample was based on large-size US companies for 2011.

Originality/value

This study extends the scope of previous studies by introducing new independent and dependent variables. It contributes to the understanding of determinants of CSR disclosure to improve the implementation of disclosure guidelines.

Citation

Giannarakis, G. (2014), "The determinants influencing the extent of CSR disclosure", International Journal of Law and Management, Vol. 56 No. 5, pp. 393-416. https://doi.org/10.1108/IJLMA-05-2013-0021