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Article
Publication date: 29 June 2012

Francis Aboagye‐Otchere, Ibrahim Bedi and Teddy Ossei Kwakye

The purpose of this study is to further increase the understanding of disclosure practices and the interrelationship between corporate governance (CG) and corporate…

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1596

Abstract

Purpose

The purpose of this study is to further increase the understanding of disclosure practices and the interrelationship between corporate governance (CG) and corporate disclosure (CD) of firms on the Ghana Stock Exchange (GSE).

Design/methodology/approach

The study follows the trinary procedure of Aksu and Kosedag and uses Standard & Poor's T&D items in the construction disclosure index. Audit committee (AC) characteristics are the governance attributes. The study used a random effect panel regression analysis to establish the relationship between CD and CG of 20 listed companies covering a period from 2003‐2007.

Findings

The results indicate that although there has been improvement of disclosure practices over the years, the level of disclosure in Ghana is moderate/fair. The study also documents a significant positive relationship between the presence of accounting/finance expert(s) on the ACs and CD practices.

Originality/value

In spite of numerous researches on companies on the GSE, this paper is the first in the country that considers the impact of CG characteristics on disclosure practices.

Details

Journal of Accounting in Emerging Economies, vol. 2 no. 2
Type: Research Article
ISSN: 2042-1168

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Article
Publication date: 29 January 2021

Yousuf Kamal

The purpose of this paper is to explore stakeholders' expectations in relation to corporate social responsibility (CSR)–related corporate governance practices. The paper…

Abstract

Purpose

The purpose of this paper is to explore stakeholders' expectations in relation to corporate social responsibility (CSR)–related corporate governance practices. The paper aims to understand how stakeholders' expectations potentially translate into the disclosure of information about CSR-related corporate governance practices.

Design/methodology/approach

The evidence for this study was collected using semi-structured in-depth personal interviews with 18 stakeholders. These include representative of multinational buying companies who source garments from Bangladesh, international as well as local NGOs, news media personnel, senior government officials, trade union leaders and social audit firm.

Findings

This paper finds evidence of stakeholders' dissatisfaction with the disclosures of governance information which tended to be viewed as limited and symbolic in nature. It also finds an apparent disconnection between stakeholder expectations and corporate disclosures.

Originality/value

This paper finds an alternative media of disclosures, for communicating social responsibility related governance information to the stakeholders, which has so far, been neglected by the social accounting researchers.

Details

Asian Review of Accounting, vol. 29 no. 2
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 17 March 2020

Henrique Formigoni, Liliane Segura and Isabel Gallego-Álvarez

The purpose of this paper is to verify if the characteristics of the board of directors (BD) affects the disclosure practices of corporate social responsibility (CSR). Two…

Abstract

Purpose

The purpose of this paper is to verify if the characteristics of the board of directors (BD) affects the disclosure practices of corporate social responsibility (CSR). Two different population samples were used from the period 2008-2011: Brazilian listed companies and Spanish companies. It is observed that the size of the board positively affects CSR disclosure practices of the two groups of companies. The percentage of independent directors of the board members positively affects the disclosure practices of CSR in Spanish companies. The percentage of participants of the board women positively impacts the disclosure practices of CSR in Brazilian companies.

Design/methodology/approach

The authors worked with two different population samples: one, composed by the Brazilian listed companies in BM&FBOVESPA and other by Spanish companies listed on Madrid Stock Exchange. The selection of this period was due to the increase in the adoption of GRI guidelines from 2008 (Prado-Lorenzo et al., 2012). In addition, as Spanish companies disclose more CSR reports according to the GRI guidelines (Global Reporting Initiative, 2012), this is a suitable environment for the analysis.

Findings

Regarding the research question of this study, it was found that the profile of the board affects the disclosure practices of CSR of Brazilian and Spanish companies. The size of the board positively affects CSR disclosure practices of the two groups of companies. The percentage of independent directors of the board members positively affects the disclosure practices of CSR in Spanish companies. The percentage of participants of the board women positively impacts the disclosure practices of CSR in Brazilian companies.

Research limitations/implications

Both the BD of Spanish companies as the Brazilian still requires the participation of a greater number of women. It is important to remember that the variable that represents women in the board presented a positive impact on the dependent variables, and it is statistically significant, so it is possible to affirm that when a large number of women are on the Board, the company tends to disclose more standardized information about CSR practices. These results are in line to other empirical analysis that defend that women usually introduce more philanthropic worries (Ibrahim and Angelidis, 1991) and tend to provide higher information transparency, especially about sustainability issues (Barako and Brown, 2008; Prado-Lorenzo and García-Sánchez, 2010; Frías-Aceituno et al., 2012).

Practical implications

This research should benefit, in this sense, investors, managers and policymakers, civil society representatives and corporate managers themselves active in the two economies investigated.

Social implications

It should be noticed that both Brazil and Spain use to encourage joint research between researchers of Brazilian and Spanish universities, funding projects developed in partnership as Cooperation Programme signed in 2001 by the Ministries of Education in both countries. Thus, it is justified the choice of Spain for its comparative analysis due to the need for more field studies on this topic in both countries, and also that it has been promoted by their governments.

Originality/value

It is expected that the results of this research contribute to the identification of relevant factors in disclosure of corporate environmental policies and actions that may be useful in the decision-making process of various stakeholders. Such identification will also allow us to identify possible relationships between environmental initiatives, the profile of BD.

Details

Social Responsibility Journal, vol. 17 no. 2
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 3 October 2016

Marcelle Colares Oliveira, Domenico Ceglia and Fernando Antonio Filho

The study aims to analyze the level of the disclosure of corporate governance practices by the companies that belong to the BRICS (Brazil, Russia, India, China and South…

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1832

Abstract

Purpose

The study aims to analyze the level of the disclosure of corporate governance practices by the companies that belong to the BRICS (Brazil, Russia, India, China and South Africa) countries according to normative recommendations and coercive requirements considering the enforcement of laws and norms in the different legal systems and to explain it in the light of the institutional theory approach.

Design/methodology/approach

The practices disclosed by a sample of the 20 largest companies listed on the stock exchanges of each of the BRICS countries were analysed, and the 52 practices recommended by UNCTAD (2009) were used as a parameter. The corporate governance practices of the companies were confronted with the laws, rules and norms that require or recommend their adoption and disclosure.

Findings

China has 49 practices required by own national law in face of 52 recommended by UNCTAD/International Financial Reporting Standards (IFRS) followed by South Africa with 44, Russia with 33, Brazil with 28 and India with 24. Brazil has 47 practices recommended by own national governance code in face of 52 recommended by UNCTAD/Intergovernmental Working group of Experts on International Standards of Accounting and Reporting (ISAR), followed by Russia with 45, China with 44, South Africa with 41 and India with 22. It was found that Brazil has the higher median of number of companies disclosing corporate governance practices with 17, followed by India with 13, Russia with 11, South Africa and China with 7.

Research limitations/implications

This research shows that more studies are necessary using the institutional theory to investigate how the normative and coercive pressures influence the disclosure of corporate governance information considering the enforcement of laws and norms in the different legal systems.

Practical implications

The differences observed in this study about normative and coercive forces are presented as an opportunity in the legal sphere of some countries to implement mechanisms to increase their level of enforcement.

Originality/value

This research contributes to various audiences such as governmental institutions, professional associations, market institutions to better understand their role in the improvement of the adoption of corporate governance practices and disclosure of information related to it.

Details

Corporate Governance: The International Journal of Business in Society, vol. 16 no. 5
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 28 June 2011

Alex Wang

This study seeks to examine how consumers perceive the visually primed disclosure in a pharmaceutical company's advertisement and form their attitudes toward the disclosure

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1663

Abstract

Purpose

This study seeks to examine how consumers perceive the visually primed disclosure in a pharmaceutical company's advertisement and form their attitudes toward the disclosure, perceived corporate social responsibility (CSR) practices and attitudes toward the pharmaceutical company.

Design/methodology/approach

An online study with a convenient sampling consisting of college students is used to manipulate the visual communication of a pharmaceutical company's advertising disclosure for the purpose of examining the effects of visually primed advertising disclosure on attitude toward the disclosure, perceived CSR practices, and attitude toward the pharmaceutical company.

Findings

The results reveal that a visually primed disclosure affects consumers' attitudes toward the disclosure positively. Visual priming also enhances consumers' perceived CSR practices and attitudes toward the company. This is evident as the impact of attitude toward the disclosure on attitude toward the company is mediated by perceived CSR practices.

Practical implications

Pharmaceutical companies should improve their advertising disclosure practices by enhancing visual communications of their advertising disclosures. Since a mediating relationship between attitude toward the disclosure and attitude toward the pharmaceutical company is materialized by perceived CSR practices, visually primed advertising disclosures perceived as socially responsible practices can facilitate advertising effectiveness and enhance consumers' attitudes toward the pharmaceutical company.

Originality/value

This paper adds value to the existing literature on pharmaceutical marketing and CSR practices, and promotes the effective management of advertising disclosures by reinforcing their communications through visual priming.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 5 no. 2
Type: Research Article
ISSN: 1750-6123

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Article
Publication date: 14 September 2018

Ahmed A. Sarhan and Collins G. Ntim

This paper aims to investigate the level of compliance with, and disclosure of, corporate governance best practice recommendations and the firm- and country-level factors…

Abstract

Purpose

This paper aims to investigate the level of compliance with, and disclosure of, corporate governance best practice recommendations and the firm- and country-level factors that can explain discernible differences in the level of compliance with, and disclosure of, corporate governance best practice recommendations in a number of Middle Eastern and North African (MENA) countries.

Design/methodology/approach

The authors use the widely used content analysis technique to examine the level of compliance with, and disclosure of, corporate governance best practice recommendations in a sample of listed corporations in MENA countries. In addition, the authors use the ordinary least square multiple regression analysis technique to examine the firm- and country-level antecedents of the level of compliance with, and disclosure of, corporate governance best practice recommendations. The findings are generally robust to different types of firm- and country-level factors, alternative measures and potential endogeneity problems.

Findings

The findings of this study are two-fold. First, the level of voluntary compliance with, and disclosure of, corporate governance best practice recommendations among MENA listed corporations is low and differs substantially across firms. Second, the evidence suggests that firm- and country-level factors, including religiosity, national governance quality and macroeconomic factors, have a positive and significant impact on voluntary compliance with, and disclosure of, corporate governance best practice recommendations.

Originality/value

To the best of the authors’ knowledge, this paper is the first to examine both the potential firm- and country-level factors affecting voluntary compliance with, and disclosure of, corporate governance best practice recommendations among MENA listed corporations from a neo-institutional theoretical perspective. The results of our study provide regulators and policymakers with the impetus to encourage greater efforts towards pursuing reforms that seek to improve national governance quality, economic environment and positive religious practices.

Details

Managerial Auditing Journal, vol. 33 no. 6/7
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 4 October 2011

Alex Wang

This research aims to probe the relevance of CSR by testing the relations among consumers' attitudes toward firms' advertising disclosures, attitudes toward CSR practices

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1301

Abstract

Purpose

This research aims to probe the relevance of CSR by testing the relations among consumers' attitudes toward firms' advertising disclosures, attitudes toward CSR practices, perceived trust toward firms, attitudes toward firms, and behavioral intentions.

Design/methodology/approach

This study uses an online survey with a convenient sampling consisting of college students. In particular, this study uses mobile phone companies' advertising disclosures in general as the focus of its survey questions.

Findings

The results reveal that consumers' positive attitudes toward firms' advertising disclosures enhance their attitudes toward firms' CSR practices and perceived trust toward firms, whereas consumers' attitudes toward CSR practices mediate the effect of their attitudes toward advertising disclosures on enhancing their perceived trust toward firms. Moreover, consumers' attitudes toward firms mediate the effect of their perceived trust toward firms on enhancing their behavioral intentions.

Practical implications

Despite the inherent limitations of this study, which have to be confirmed in future research, the results may encourage firms to practice their advertising disclosures responsibly. Moreover, the results of this study may help investigate the extent to which firms may benefit from reinforcing their advertising disclosures.

Originality/value

This paper adds value to the existing literature on CSR and promotes the effective management of socially responsible business through implementing more responsible advertising practices.

Details

Social Responsibility Journal, vol. 7 no. 4
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 5 October 2015

Abdirahman Anas, Hafiz Majdi Abdul Rashid and Hairul Azlan Annuar

The paper aims to examine the determinants of corporate social responsibility (CSR) disclosures in the annual reports of Malaysian public listed companies (PLCs). In 2006…

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2027

Abstract

Purpose

The paper aims to examine the determinants of corporate social responsibility (CSR) disclosures in the annual reports of Malaysian public listed companies (PLCs). In 2006, Bursa Malaysia Berhad (BMB) launched its CSR Framework (effective in 2007) which is supposed to guide the Malaysian PLCs’ CSR disclosures. It is believed that this CSR framework may influence CSR disclosures to be more systematic, yet there is no evidence whether this framework influences the extent and quality of CSR disclosures. Thus, this study examines this area of research. The study also tests the influence of award on CSR disclosures.

Design/methodology/approach

CSR disclosure checklist was developed to analyse the extent and quality of CSR information disclosures in the year 2008 annual reports of the Malaysian PLCs.

Findings

Malaysian PLCs disclose more CSR information related to community and environment than workplace and marketplace CSR themes. On the other hand, the quality of disclosure practices was minimal when it is compared to the extent of disclosure practices. Finally, the study also found that the award’s variable has a significant positive relationship with both the extent and quality of CSR disclosure practices of the Malaysian PLCs.

Research limitations/implications

The recently developed BMB’s CSR framework seems to have impact on the level and systematic CSR reporting practices of Malaysian PLCs. However, the quality of CSR disclosures is considered minimal.

Practical implications

The results of the study bring some practical implications to the regulators, particularly Bursa Malaysia. First, it is good to observe that most companies have practiced specific disclosure in a separate statement with regard to CSR. However, the format of presentation and the extent of disclosure vary among the firms. Second, further guidelines need to be developed to provide a clearer framework of disclosure for CSR information. At the moment, Bursa Malaysia only listed down general principles of CSR themes. In addition, the regulators should also look into the evolving issues in CSR, such as the issue of climate change reporting. For example, the Climate Disclosure Standards Board has issued a voluntary Climate Change Reporting Framework.

Originality/value

This study examined both the traditional (i.e. firm size and profitability) and non-traditional (i.e. award) factors influencing management’s decision to disclose CSR information in the annual reports of the Malaysian PLCs. Furthermore, the study reported how Malaysian PLCs comply with the recently implemented CSR framework issued by BMB.

Details

Social Responsibility Journal, vol. 11 no. 4
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 1 February 1995

Kamran Ahmed

Prior studies on accounting and its environment that included culture as an explanatory variable have limitations because of their failure to operationalize it properly…

Abstract

Prior studies on accounting and its environment that included culture as an explanatory variable have limitations because of their failure to operationalize it properly. The purpose of this study is to apply two of Hofstede's cultural value dimensions as alternative measures to represent national culture and to examine the impact of these two variables along with economic and equity market factors on accounting disclosure practices in different countries. A sample of thirty‐nine countries was chosen based on the availability of information on the explanatory variables. To empirically test the hypothesis, three regression models, with disclosure practices as the dependent variable and five economic and cultural factors as the explanatory variables, were developed. The Price Waterhouse survey (1979) and Gray, Campbell and Shaw's survey (1984) were used to construct three indexes to operationalize disclosure practices. The five explanatory variables are: (1) type of economy, (2) size of the equity market, (3) equity market activity, (4) uncertainty avoidance, and (5) individualism. The results showed that out of the five explanatory variables, only two, namely, uncertainty avoidance and size of the equity market, are significantly associated with disclosure practices. The results are consistent with prior theoretical and empirical studies.

Details

Asian Review of Accounting, vol. 3 no. 2
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 10 October 2016

Abdifatah Ahmed Haji and Dewan Mahboob Hossain

The purpose of this paper is to examine “how” the adoption of integrated reporting (IR), and the embedded multiple capitals framework, has influenced organisational…

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5369

Abstract

Purpose

The purpose of this paper is to examine “how” the adoption of integrated reporting (IR), and the embedded multiple capitals framework, has influenced organisational reporting practice. In particular, the paper examines how companies report and integrate multiple capitals in various organisational reporting channels following the introduction of an “apply or explain” IR requirement in South Africa.

Design/methodology/approach

Using a qualitative case study approach based on discourse analysis, this paper examines various organisational reports including integrated reports, standalone sustainability reports, websites and other online materials of highly regarded, award-winning, integrated reporters in South Africa over a four-year period (2011-2014), following the introduction of IR requirement. The authors draw five impression management techniques, namely, rhetorical manipulation, thematic manipulation, selectivity, emphasis in visual presentation and performance comparisons to explain disclosure and integration of multiple capitals.

Findings

The authors find that companies are increasingly conforming to reporting language espoused in existing IR guidelines and multiple capital frameworks over time. For instance, it is found that the research cases have increasingly used specific grammars in existing IR guidelines such as “capitals” and “material” issues, with companies acknowledging the “interdependencies” and “trade-offs” between multiple capitals. Companies have also started to recognise that the capitals are subject to “increases, decreases, and transformations” over time. However, the disclosures are generic, rather than company-specific, and lack substance, often framed in synthetic charming aimed to showcase adoption of IR practice. In addition, the current discourse on multiple capital disclosures is one of the defending, even promoting, organisational reputation, rather than recognising how organisational actions, or inactions, impact multiple capitals. The paper concludes that the emerging IR practice, and the embedded multiple capital framework, has not really improved the substance of organisational reports.

Practical implications

The results of this study have a number of implications for regulatory authorities, public and private sector organisations as well as academic researchers. For regulatory authorities, the results inform relevant regulatory authorities how IR practice is taking shape over time, particularly within the context of a regulatory setting. Second, the empirical analyses, which focused on highly regarded, award-wining, integrated reporters, draw the attention of regulatory bodies as well as users of corporate reports to concerns related to a growing number of rating agencies of organisational reports. Finally, for academic researchers, the theoretical implications of this study is that, given the pervasive use of multiple impression management techniques in various organisational reports, the authors support the notion that corporate disclosure practices should be examined through the lens of multiple theoretical perspectives to enhance our understanding of the nature of organisational reporting practice.

Originality/value

This study provides a more focused preliminary empirical account of the implications of IR practice, and the embedded multiple capital frameworks, on the quality of organisational reporting practice following the adoption of mandatory IR requirement in South Africa.

Details

Qualitative Research in Accounting & Management, vol. 13 no. 4
Type: Research Article
ISSN: 1176-6093

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