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The purpose of this paper is the introduce corporate social responsibility (CSR) in Abu Dhabi, the biggest Emirate and one with the largest oil reserve in United Arab Emirates (UAE). Abu Dhabi set the first renewable energy policy in the region in January 2009. The policy calls for at least 7 percent of Abu Dhabi's power generation capacity to come from renewable energy sources by 2020. In 2006, the leadership of Abu Dhabi made a strategic decision to establish a globally competitive renewable energy sector in the country and hence the Masdar Initiative was created. It is driven by the Abu Dhabi Future Energy Company (ADFEC), also called Masdar.

The paper focuses on the corporate social responsibility of Masdar and the role the firm is playing as the “prime mover” in the renewable energy sector in UAE and the region. The paper is structured in the following manner. First, the literature on corporate social responsibility is reviewed. Second, the environmental challenges of UAE are highlighted. Third, the paper discusses the different business units of Masdar and their related projects and investments at local, regional and global levels. Finally, the role of ADFEC as a “prime mover” in sustainability and corporate social responsibility is highlighted.

Masdar has taken leadership in CSR and sustainable energy technologies in Abu Dhabi, UAE and the region.

The case demonstrates the willingness of oil‐producing countries to become more sustainable and to do something about climate change. The Masdar Initiative, which includes the first carbon‐neutral city, can be regarded as a benchmark for future similar projects in the region and around the world.

This chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and implementation of sustainable practices. The main findings are as follows: (1) degradation of the rule of law in several European Union (EU) Member States and constant political undermining of the legal institutions represent the main threat for the implementation of sustainable practices and development; (2) the golden regulatory rule of thumb provides that regulatory intervention is suggested merely in cases of market failures under the condition that the costs of such intervention do not exceed the benefits; (3) over-regulation might impede implementation of sustainable practices, distort the operation of the market, undermine productivity, diminish growth and social wealth and consequently also sustainability; (4) efficiency and wealth maximization should be the lawmaker’s leading normative principle in designing the legal framework that will enable effective implementation of sustainable practices; (5) the efficient level of harmonization or subsidiarity of decision-making in the EU urges for a rigorous investigation of costs and benefits of the EU top-down harmonization policies which should lead to a better, efficient vertical allocation of sustainability agenda between EU and the Member States; and (6) The Reflection Paper on Sustainable Development Goals – “Towards a Sustainable Europe in 2030” – represents an effective institutional framework in pursue of the overall sustainability targets.

The world is becoming global, digital, health conscious and spiritual. In this new and evolving international environment with a large private sector and global integration of world capital markets, Corporate social responsibility (CSR) has become the prominent topic of institutional reform. This issue of CSR is of great importance as the Saudi economy is opening up and the government is trying to diversify its investments and reduce its reliance on the petroleum sector. The proposed research study is aimed at identifying perceptions of managers, company practices and performance of companies concerning CSR practices of 21 listed companies in Saudi Arabia.

From each company, ten managers were chosen randomly totaling two hundred and ten respondents. Primary and secondary data was collected for the study. Primary data were collected by conducting interviews and discussions with management respondents through questionnaires structured for the purpose.

The empirical findings in the KSA study support the applicability of Carroll's Pyramid of CSR constructs and Lawrence et al.'s charity and stewardship principles.

There is excellent scope for future research on the current topic and in improving the instruments, measures and constituent concepts of CSR constructs in order to provide better guidance to policy makers and managers, as well as academic interest.

Saudi Arabia is known for its charity and stewardship principles, but not much empirical work based on CSR constructs has been done. Hence, this study attempts to measure perception and construct validity.

Motivated by the new European Union Directive 2014/95 on non-financial and diversity information, this paper aims to develop a future research agenda to conduct pragmatic, theory-oriented research into the Directive and corporate sustainability reporting.

Drawing upon the relational dynamics between states, firms and society in regulating non-financial reporting (NFR), this essay frames and analyses the Directive and its grand theories, as unproven theories, by discussing its practical concerns and reviewing the academic literature.

The Directive is an act of policy to legitimise NFR that encompasses two grand theories: improve the comparability of information and enhance corporate accountability. From a pluralist perspective, companies can rest assure that their compliance with the Directive will be perceived as socially desirable, proper and appropriate. However, some of the forces involved in translating the Directive into actionable policies operate contra to the Directive’s goals and, instead, act as barriers to its grand theories. In addressing these barriers, a research agenda is proposed that both traces backward to re-examine the foundational theories of the past and looks forward to explore alternative possibilities for achieving these goals.

This paper provides researchers with a practical-driven and theory-oriented agenda for future research in light of the rising academic interest in the Directive.

The barriers to the Directive’s grand theories help policymakers and practitioners to understand the practical concerns about the implementation of the Directive and other mandatory NFR policies.

This paper enriches the emerging debate on the Directive and highlights future possibilities for fruitful empirical research by developing a research agenda.

Firms’ corporate social responsibility (CSR) behaviour is embedded in the institutional context. Under this logic, the purpose of this paper is to investigate the institutional antecedents of CSR, especially how two sub-national institutions – regional institutional development and industry dynamism – and their interactions affect firms’ CSR.

The sample consists of 608 Chinese listed firms, with 2,694 observations made from 2009 to 2014. The data were collected from two sources. The CSR information was acquired from the CSR rating agency Rankins CSR Ratings, and the financial data from the China Stock Market and Accounting Research database. Panel ordinary least squares regression was used to test the hypotheses.

The empirical results indicate that firms located in advanced regional institutions and more dynamic industries are more likely to engage in CSR. Moreover, macro institution, termed as regional institutional development, positively moderates the relationship between micro institution in terms of industry dynamism and CSR.

Overlooking how the institutional environment influences CSR decisions limits understanding of firms’ CSR activities. This paper offers an institutional explanation of CSR and, in particular, investigates different levels of sub-national institutions and their interaction.

The purpose of this paper is to determine the corporate social responsibility (CSR) disclosure level of 35 international banks across the world at the end of 2013 and analyse the changes in their disclosure patterns compared to 2005 from the institutional perspective.

Content analysis of international banks’ web-sites and CSR reports.

As expected, CSR disclosure scores of international banks in 2013 were significantly larger than in 2005. Despite addressing the legitimacy gap after the 2008 crisis, significant room for improvements remained in the context of sustainable products, implementation of environmental management policies and introduction of CSR initiatives (the latter especially for Northern American banks). Although the transnational context had contributed to the gradual convergence of CSR disclosure scores, the existence of differing national and organisational contexts had maintained some of the diversity across banks.

Content analysis approach used limits the possibilities to objectively grasp the depth of CSR and the sample remains biased towards larger international banks headquartered in Europe.

Stakeholders should remain vary of “window-dressing” attempts and reward only those banks that actually contribute to the society.

Intergovernmental organisations should continue to develop both new and already existing financial sector CSR initiatives to improve the stability of the global financial sector.

Previous studies have not investigated international banks’ CSR disclosures on broader global samples during the post-2008-crisis period and have not considered the institutional context of their CSR.

This paper examines the gap between reporting and managers’ behaviour to challenge the current theoretical underpinnings of intellectual capital (IC) disclosure practice and research. The authors explore how the key features from IC and integrated reporting can be combined to develop an extended model for companies to comply with EU Directive 2014/95/EU and increase trust in corporate disclosures and reports.

This essay relies on academic literature and examples from practice to critique the theories that explain corporate disclosure and reporting but do not change management behaviour. Based on this critique, the authors argue for a change in the fundamental theories of stewardship to frame a new concept for corporate disclosure incorporating using a multi-capitals framework.

We argue that, while the inconsistency between organisations’ reporting and behaviour persists, increasing, renewing or extending the information disclosed is not enough to instil trust in corporations. Stewardship over a company’s resources is necessary for increasing trust. The unanticipated consequences of dishonest behaviour by managers and shareholders compels a new application of stewardship theory that works as an overarching guide for managerial behaviour and disclosure. Emanating from this new model is a realisation that managers must abandon agency theory in practice, and specifically the bonus contract.

We call for future empirical research to explore the role of stewardship theory within the dynamics of corporate disclosure using the approach. The research implications of those studies should incorporate the potential impacts on management behaviours within a stewardship framework and how those actions, and their outcomes, are disclosed for rebuilding public trust in business.

The implications for integrated reporting and reports complying with the new EU Directive are profound. Both instruments rely on agency theory to coax managers into reducing information asymmetry by disclosing more. However, agency theory only re-affirms the power managers have over corporate information. It does not change their behaviour, nor to act in the interest of all stakeholders as the stewards of an organisation’s resources.

We advocate that, in business education, greater emphasis is needed on how stewardship has a more positive impact on management behaviour than agency, legitimacy and stakeholder theories.

We reflect on the current and compelling issues permeating the international landscape of corporate reporting and disclosure and explain why current theories which explain corporate disclosures do not change behaviour or engender trust in business and offer an alternative disclosure model based on stewardship theory.

The purpose of this paper is to explore corporate social responsibility (CSR) disclosure and its relation to institutional investor (INSV) of Jordanian private listed companies (PLCs).

A unique sample of 159 largest companies over “a period of 8-years” listed on the ASE in terms of market capitalisation during the 2005-2012 period. Testing of hypotheses has been conducted by applying multivariate regression techniques using longitudinal data analysis of companies’ annual reports.

Results which confirmed earlier estimations indicated that there are positive and significant relationships between CSR disclosure (CSRD) and INSV. This result indicates that among the CSRD dimensions, INSVs are less concerned with companies engaging in community contribution practices and those related to the community involvement and product dimension in which the company operates.

Jordanian PLCs should be encouraged to be involved in CSR activities as one of their program strategies in attracting investment, as well as to improve their reputation and image in their social activities.

This paper conducts a comprehensive empirical evidence on the development of the relationship between the CSRD dimensions and INSV in Jordanian PLCs as an emerging market, where much existing evidence exists on this issue that may help in explaining difference in prior work.

Prior research studies have discussed the role of corporate social responsibility (CSR) during crisis situations in increasing the resilience and sustainability of the companies. There are two basic models of crisis management – reactive and proactive. When a crisis occurs, suddenly firms tend to act reactively and progressively take proactive steps to manage the crisis. CSR can also be reactive and proactive during crisis situations. Against this backdrop, this paper aims to explore whether CSR during the COVID-19 pandemic moved from a reactive to a proactive stance, with specific focus on CSR legislation, corporate CSR response and corporate thinking about CSR.

This paper adopts a mixed methods approach, using both qualitative and quantitative research designs. This study draws upon both primary and secondary data.

The results highlighted the change in the CSR approach from being reactive to being proactive as the pandemic progressed. This was observed through the increase in frequency of CSR legislation, and the shift in the intent of CSR legislation from “prompting to donate” to “prompting to volunteer.” Similarly, the shift in reactive to proactive CSR corporate response was observed through the increased spending on CSR and improved COVID-related CSR reporting.

This study recommends companies to manage crises by becoming more proactive. CSR activities need to be closely aligned with national developmental objectives, and collaborate with various stakeholders to achieve the intended outcomes of the activities.

To the best of the authors’ knowledge, this research paper is one of the few to study the impact of COVID-19 pandemic on CSR in India at a time when India went through three waves of the pandemic. This study corroborates with other studies in terms of managing crisis.