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Book part
Publication date: 28 June 2016

Belverd E. Needles, Mark L. Frigo, Marian Powers and Anton Shigaev

Prior research shows that companies that achieve high performance excel at certain financial objectives. This chapter addresses the question: Do companies that excel at these…

Abstract

Purpose

Prior research shows that companies that achieve high performance excel at certain financial objectives. This chapter addresses the question: Do companies that excel at these financial performance objectives also excel in integrated reporting and sustainability reporting?

Methodology/approach

We compare a sample of high performance companies (HPC) with a sample of companies that purport to support integrated reporting, and a sample that purport to support sustainability reporting. Our hypotheses are that HPC will equal or exceed the integrated reporting and sustainability reporting practices shown by International Integrated Reporting Committee (IIRC) and Global Reporting Initiative (GRI) companies and US companies will be less at these practices than non-US companies.

Findings

Our findings indicate that IIRC companies and GRI companies generally do not meet the high financial performance measures of the HPC. Based on an integrated reporting and sustainability reporting matrix, we show that HPC exhibit equal performance on the practices of sustainability and integrated reporting compared to GRI companies, but both HPC and GRI are lower on these practices than IIRC companies. Also, US companies disclose less information in sustainability reports and integrated reports as compared to non-US companies. Overall, all three groups fall short of full compliance with standards of integrated reporting and sustainability reporting.

Originality/value

This chapter provides evidence as to the financial performance and the current state of integrated reporting and sustainability reporting among HPC, GRI, and IIRC companies. This chapter highlights the global need for a generally accepted set of standards for sustainability and integrated reporting practices.

Details

Performance Measurement and Management Control: Contemporary Issues
Type: Book
ISBN: 978-1-78560-915-2

Keywords

Book part
Publication date: 17 September 2014

Aymen Sajjad and Gabriel Eweje

The purpose of this chapter is to provide a practical review of topical developments in corporate social responsibility (CSR) perspective within Pakistani business environment.

Abstract

Purpose

The purpose of this chapter is to provide a practical review of topical developments in corporate social responsibility (CSR) perspective within Pakistani business environment.

Methodology/approach

To investigate the concept of CSR in Pakistan, this chapter primarily draws on secondary sources including extant literature on CSR, government reports, publications of international agencies, industry reports, companies’ CSR/sustainability reports, and newspaper articles.

Findings

The findings of this research reveal that the concept of CSR is relatively underdeveloped in Pakistan. There is a general perception among business practitioners in Pakistan that CSR relates to altruism or philanthropic activities. However, only few large local companies and multinational enterprises hold a well-defined CSR policy. Small and medium enterprises limit their CSR engagement to comply with codes of conduct set by foreign buyers.

Research limitations/assumptions

The discussion in this chapter is based on the secondary data, therefore the empirical research is needed to validate the findings of this study. Further, this chapter presents a generic reflection about how CSR is practiced and perceived in Pakistani business environment. Thus, industry-specific research would illustrate a much clearer picture on how different sectors in Pakistan are promoting CSR principles.

Practical implications

The findings of this research would help businesses and policy makers to recognize the current state of CSR progress and potential CSR challenges in Pakistan. These findings may assist the government, private sector, and civil society to devise future CSR agenda in Pakistan.

Originality/value

The authors contend that this is one of the few studies in Pakistani context which attempts to provide a comprehensive overview of CSR-related developments in Pakistan.

Details

Corporate Social Responsibility and Sustainability: Emerging Trends in Developing Economies
Type: Book
ISBN: 978-1-78441-152-7

Keywords

Book part
Publication date: 4 October 2018

Belverd E. Needles, Marian Powers, Mark L. Frigo and Anton Shigaev

This study establishes a baseline evaluation of sustainability reporting (SR) and integrated reporting (IR) practices among groups of companies globally using a combined…

Abstract

This study establishes a baseline evaluation of sustainability reporting (SR) and integrated reporting (IR) practices among groups of companies globally using a combined evaluation matrix. We evaluate a sample of high performance companies (HPC), global reporting initiative (GRI) companies, international integrated reporting committee (IIRC) companies, and a control group of companies that do not belong to any of these groups. We test for high performance and compliance with a 30-point evaluation matrix for financial reporting, corporate governance, integrated disclosure, SR, and assurance developed from the standards set by GRI and IIRC. This chapter provides evidence as to the current IR and SR states, and shows that considerable variation exists even among companies that have pledged to improve reporting in this arena. The analysis also shows that companies that belong to no special group do in fact score on a level that shows that SR and IR standards are being implemented by many companies in the world, not just those in special groups like the HPC, GRI, and IIRC. Finally, this study provides direction for global regulators and professional associations, and to the management of companies that aspire to HPC status while meeting the IR and SR standards.

Details

Performance Measurement and Management Control: The Relevance of Performance Measurement and Management Control Research
Type: Book
ISBN: 978-1-78756-469-5

Keywords

Book part
Publication date: 17 September 2014

Gabriel Eweje

This chapter introduces this book’s topics, purpose, and key themes. It summarizes the main objective of this book which is to examine the trends in corporate social…

Abstract

Purpose

This chapter introduces this book’s topics, purpose, and key themes. It summarizes the main objective of this book which is to examine the trends in corporate social responsibility (CSR) and sustainability in developing and emerging economies.

Methodology/approach

This chapter reviews the extant literature and chapters and offers conceptual development.

Findings

Discussion on CSR and sustainability concepts is growing in developing countries, and many stakeholders including businesses, governments, and universities are working toward achieving sustainability. In addition, it is well documented that multinational enterprises (MNEs) operating in developing economies contribute significantly to job creation, growth and development, and poverty alleviation. However, when compared to developed countries there is a general perception that companies, in particular MNEs, do not pay much attention to CSR and sustainability issues. The lack of sophisticated institutional developments and capability in many developing economies compound the situation. Thus, business CSR and sustainability practices play a major role in improving stakeholder relationships.

Practical and social implications

This chapter suggests that in order for developing and emerging economies to move forward and achieve the gains from globalization; businesses, governments, and other stakeholders should work together to benefit from the various initiatives on CSR and sustainability jointly put together for the betterment of the citizens and a prosperous economy.

Originality/value

This chapter contributes to the debate on trends in CSR and sustainability in developing/emerging economies by critically examines what the notions really mean in developing and emerging economies. It emphasizes that CSR and sustainability mean contributing to the well-being of citizens and respond positively to various stakeholder demands by improving the host countries and communities through participation in economic progress, social well-being, improvement in environmental practices, and involvement in citizens’ empowerment and institutional building.

Details

Corporate Social Responsibility and Sustainability: Emerging Trends in Developing Economies
Type: Book
ISBN: 978-1-78441-152-7

Keywords

Book part
Publication date: 31 December 2013

Stephen Gates

Purpose – The purpose of this chapter is to explore the proactive role played by investor relations officers (IROs) in enhancing the quality and delivery of corporate social…

Abstract

Purpose – The purpose of this chapter is to explore the proactive role played by investor relations officers (IROs) in enhancing the quality and delivery of corporate social performance (CSP) information to social responsibility investment (SRI) analysts and investors, thereby improving the link between CSP and corporate financial performance (CFP). The increasing pressures on corporations to produce and communicate CSP information will be described, as well as how the timely and meaningful communication of CSP can improve CFP.

Methodology/approach – Subsequent to a review of relevant literature, three case examples from McDonald’s, Nestlé, and Stora Enso illustrate Hockerts and Moir’s grounded theory framework that suggest how IROs can improve communication of CSP.

Findings – This chapter illustrates three levels of communicating CSP information. First, IROs target SRI investors and respond to ESG inquiries and surveys. At the second level, IROs integrate ESG information into business strategy and financial results. At the third level, IROs actively market CSP and create a two-way proactive dialogue between SRI investors and senior management and the board.

Practical implications – This chapter provides practical examples to improve ESG activities and their communication via the IRO to SRI analysts and investors.

Originality/value of chapter – This chapter contributes to the literature on the CSP–CFP link by illustrating how proactive IROs are improving the CSP information channel to SRI securities analysts and investors. Furthermore, it advances the theory and research concerning the impact of the information channel between IROs and securities analysts behind the CSP–CFP link.

Details

Institutional Investors’ Power to Change Corporate Behavior: International Perspectives
Type: Book
ISBN: 978-1-78190-771-9

Keywords

Book part
Publication date: 17 April 2018

Hyemi Shin and Adrián Zicari

This chapter explores the adaptation and evolution of stand-alone CSR reporting in two different political economies and late-capitalist countries: Brazil and South Korea. Instead…

Abstract

Purpose

This chapter explores the adaptation and evolution of stand-alone CSR reporting in two different political economies and late-capitalist countries: Brazil and South Korea. Instead of selecting between new institutionalism and the varieties of capitalism (VOC) approach, this study attempts to explore how the interaction between converging and diverging pressures appears in the adaptation and evolution of stand-alone CSR reporting (i.e., cross-fertilization process) in two countries.

Design/methodology/approach

Using qualitative content analysis this study focuses on the frameworks of CSR reports and the way CSR issues are described within the stand-alone CSR reports of four telecommunication companies in Brazil and South Korea.

Findings

Even though CSR reports in both countries have become similar due to the convergence of frameworks of CSR reporting, the key themes and the representation on each theme are still embedded within each form of market economy: a hierarchical market economy (HME) in Brazil and a network market economy (NME) in South Korea. From a cross-fertilization perspective, this chapter shows that the adaptation and evolution of CSR reporting occurs at two different levels of CSR reporting.

Value

This study has three major values. First, it explains the two different levels of the adaptation and evolution process of CSR reporting by bringing a dynamic cross-fertilization view. Second, it provides a qualitative study that focuses on the content of CSR disclosures instead of the quantity of those disclosures. Lastly, it contributes to the academic and practical research on CSR in late-capitalist countries and in two under-researched types of political economies.

Details

Sustainability Accounting
Type: Book
ISBN: 978-1-78754-889-3

Keywords

Book part
Publication date: 14 September 2020

Virginia Munro

Since the 2015 introduction of the United Nations Global Goals, also referred to as the sustainable development goals (SDGs), we have witnessed a movement toward inclusion of…

Abstract

Since the 2015 introduction of the United Nations Global Goals, also referred to as the sustainable development goals (SDGs), we have witnessed a movement toward inclusion of goal-related initiatives listed under CSR strategy and in CSR sustainability reports. At the time of writing this chapter, the United Nations were presented a speech by young activist Greta Thunberg and many other activists commenced riots in major cities. All are pointing toward, what they perceive, as a lack of effort to solve issues related to climate warming. At the same time new research has revealed that targets for the SDGs are falling behind levels expected for 2030. There has also been concern for the potential of “SDG washing,” reported in the academic literature. This would greatly decrease the credibility of the goals over time. For this reason, it is vitally important to measure the impact of initiatives introduced to fit each SDG category and label. This will also assist with funding SDG implementation at a much faster rate. This chapter commences with a brief introduction of the SDG framework and discusses the United Nations and OECD methodology and the development and implementation of key global goals. Various research reports are discussed alongside a tracking study on uptake of the SDGs, and the need for SDG metrics to create transparency and evaluation. The chapter ends with example case studies of CSR strategy implementing and measuring the SDGs, alongside a discussion of financial vehicles released to support further development. The chapter also makes suggestions for future research opportunities to assist SDG progression.

Details

CSR for Purpose, Shared Value and Deep Transformation
Type: Book
ISBN: 978-1-80043-035-8

Book part
Publication date: 10 December 2013

Abstract

Details

Accounting and Control for Sustainability
Type: Book
ISBN: 978-1-78052-766-6

Book part
Publication date: 18 October 2016

Lucely Vargas

Through globalization, businesses are gaining more power, since stakeholder demands to behave ethically and socially responsible (CSR) are increasing dramatically. Acting…

Abstract

Through globalization, businesses are gaining more power, since stakeholder demands to behave ethically and socially responsible (CSR) are increasing dramatically. Acting ethically from a sense of social responsibility is a competitive advantage that improves economically an organization’s financial performance in the long term. This chapter analyzes the relationship between an organization’s focus on ethical/corporate social responsibility (CSR) behaviors and financial performance based on share price analysis proceeding from public announcement of ethical/CSR commitment. The methodology used in this study is based on both the event study method in efficient markets and the market model. The calculation of unexpected returns and the analysis of the impact of public announcements on the share price value of the Generali Insurance Company (GIC) case study are presented (historical data taken from S&Pmib). The results show that there is a tendency toward share value increasing and decreasing, but these changes are not significant in the light of public information related to CSR.

Book part
Publication date: 18 April 2022

Kishore Kumar

Considering the dearth of industry-specific empirical research exploring sustainability reporting in the context of developing countries, this chapter aims to critically examine…

Abstract

Purpose

Considering the dearth of industry-specific empirical research exploring sustainability reporting in the context of developing countries, this chapter aims to critically examine the extent and the nature of sustainability information disclosure of environmentally polluting industries in India.

Methodology

Data are collected from business responsibility reports (BRRs), sustainability reports, Corporate Social Responsibility (CSR) reports and integrated reports of all 57 energy and mining companies included in NIFTY500 Index at National Stock Exchange of India for the year 2017–2018 and 2018–2019. Content analysis is used to examine the sustainability disclosure practices and one-way analysis of variance (ANOVA) statistical analysis is performed to test the difference across various dimensions of sustainability reporting of companies.

Findings

The results indicate low environmental reporting of the key indicators by energy and mining companies in India. It is found that state-owned companies have better social reporting practices against private sector companies. The findings also indicate that Global reporting initiative (GRI) based reporting have better sustainability disclosure practices and companies reporting based on BRR lack quantitative information disclosure.

Implications

The findings of the present chapter have several implications for policymakers, investors, regulators and management of these high environmental and social impact companies in India. The findings which coincide with the key areas of sustainability disclosure can be used for improving sustainability disclosure practices by the various stakeholders.

Originality

This is one of the first studies to investigate the nature and extent of sustainability performance disclosure of the companies from polluting industries in India. This chapter also contributes to the existing sustainability reporting literature by providing evidence on industry-specific disclosure in the context of a developing country.

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