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Corporate social and environmental disclosure and corporate performance: Evidence from South Africa and Morocco

Hichem Khlif (Faculty of Economics and Management of Mahdia, University of Monastir, Sfax, Tunisia)
Achraf Guidara (Department of Accounting, University of Economics and Management of Sfax, Sfax, Tunisia)
Mohsen Souissi (Department of Accounting, Fayetteville State University, Fayetteville, North Carolina, USA)

Journal of Accounting in Emerging Economies

ISSN: 2042-1168

Article publication date: 2 February 2015




The purpose of this paper is to investigate the relationship between corporate performance and social and environmental disclosure for two African leading countries namely, South Africa (common law country) and Morocco (civil law country).


The sample consists of 168 annual reports spanning from 2004 to 2009. A content analysis of companies’ annual reports is used to measure the extent of voluntary social and environmental disclosure.


Results show that social and environmental disclosure has a significant positive effect on corporate performance only in the South African setting.


The findings emphasize the need to explicitly consider the legal and institutional setting prevailing in each context. For instance, social and environmental organizations in South Africa enjoy more power to influence companies’ social and environmental reporting policy, whereas, their counterparts in Morocco, enjoy less power to place pressure on companies to incorporate social and environmental considerations into business operations.



The authors are indebted to the editor and the two anonymous referees for their helpful comments on the previous drafts of this manuscript. All remaining errors and omissions remain the author’s responsibility.


Khlif, H., Guidara, A. and Souissi, M. (2015), "Corporate social and environmental disclosure and corporate performance: Evidence from South Africa and Morocco", Journal of Accounting in Emerging Economies, Vol. 5 No. 1, pp. 51-69.



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Copyright © 2015, Emerald Group Publishing Limited

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