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1 – 8 of 8Michel Coulmont, Sylvie Berthelot and Marc-Antoine Paul
The purpose of this study is to document the concrete practices put in place by United Nations Global Compact (UNGC) affiliated firms and their application of the UNGC…
Abstract
Purpose
The purpose of this study is to document the concrete practices put in place by United Nations Global Compact (UNGC) affiliated firms and their application of the UNGC Communication on Progress (COP).
Design/methodology/approach
The paper examines the practices implemented by firms on the Fortune 500 list that have affiliated with the UNGC and issued a COP separate from their annual report or a sustainable development report. According to the UNGC, the COP policy sets out a description of practical actions the company has taken or plans to take to implement the ten principles.
Findings
The findings tend to show that firms affiliated with the UNGC use a variety of practices to integrate these principles. Many adopt policies based on an international standard relating to a UNGC principle. However, the reporting process supported by the UNGC does not seem to fully promote the widespread application of these practices.
Originality/value
The documentation of these practices will serve as a reference for any business interested in adopting the UNGC principles or for government and non-government organisations, including accounting standard setters, aiming to promote and support the universal principles on human rights, labour, the environment and anti-corruption. In addition, the study reveals weaknesses in the UNGC COP policy that could limit more extensive application of these practices.
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Michel Coulmont, Kamille Lambert and Sylvie Berthelot
Despite the global nature of the UN Global Compact (UNGC), a platform for the development, implementation and disclosure of responsible and sustainable corporate policies and…
Abstract
Purpose
Despite the global nature of the UN Global Compact (UNGC), a platform for the development, implementation and disclosure of responsible and sustainable corporate policies and practices, the participation of organisations is unequally distributed across societies. This paper aims to explore the relationship between national cultures, as defined by Hofstede, and organisations voluntarily affiliating with the UNGC.
Design/methodology/approach
This study tests the relationship between national culture and firm affiliation with the UNGC using data derived from Hofstede’s works and information available on the UNGC website and other websites and accounting databases, covering 282 firms in 30 countries on 4 continents.
Findings
The results indicate that firms in countries with high individualism or high masculinity rankings are more likely to affiliate with the UNGC. In addition, organisations in countries with less uncertainty avoidance, short-term orientation and high restraint are also more likely to affiliate with the UNGC.
Originality/value
The results are interesting for initiatives like the UNGC. The development strategies and democratisation tools developed by this initiative will have to take into account the specific cultural features of different countries.
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Anne Marie Gosselin and Sylvie Berthelot
The purpose of this study is twofold: to examine the reliability of voluntary corporate social responsibility reporting (CSRR) to determine whether users can rely on the…
Abstract
Purpose
The purpose of this study is twofold: to examine the reliability of voluntary corporate social responsibility reporting (CSRR) to determine whether users can rely on the information released by corporations and to examine the determinants of CSRR reliability in a voluntary context.
Design/methodology/approach
This study analyses the information included in a sample of 190 standalone corporate social responsibility (CSR) reports issued by Canadian corporations listed on the Toronto Stock Exchange S&P/TSX Composite Index from 2016 to 2018.
Findings
The results of this study show that CSR reports lack reliability. The determinants identified (image, corporate governance and financialisation) partially explain the quality of the information disclosed. As well, the results suggest that corporations may attempt to manipulate users’ perception through their disclosures.
Practical implications
TThis study provides a greater understanding of the current state of CSRR in a voluntary context. It offers further insights into the strategies corporations use to manage impressions through CSR disclosures.
Social implications
This study provides further empirical data as to current shortcomings of voluntary CSRR and the potential benefits of further regulation.
Originality/value
Few studies have specifically focused on the reliability of CSRR and its determinants in a voluntary context.
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Vincent Gagné, Sylvie Berthelot and Michel Coulmont
The purpose of this paper is to assess the substantiveness of stakeholder engagement by examining voluntary disclosures tied to the engagement process. The objective is to draw a…
Abstract
Purpose
The purpose of this paper is to assess the substantiveness of stakeholder engagement by examining voluntary disclosures tied to the engagement process. The objective is to draw a portrait of stakeholder engagement practices and determine whether they genuinely contribute to informing stakeholders or whether they are simply intended to manage stakeholders’ impressions.
Design/methodology/approach
The authors performed an exploratory content analysis on 113 sustainability reports published in 2018 in the Global Reporting Initiative database. The authors investigated disclosures tied to consulted stakeholders, communication modes and material issues resulting from the engagement process. The authors then assessed the substantiveness of these disclosures to determine the extent of the impression management tactics deployed in the stakeholder engagement disclosures made by Canadian companies.
Findings
Data analysis showed that more than a third of Canadian firms tend to make generic disclosures on their stakeholders’ engagement. As well, almost half the engagement modes disclosed are unidirectional and fewer than 33% of Canadian companies disclose on relevant sustainability issues. Furthermore, only 26% of the sample seek assurance on the information disclosed. Overall, the authors note an important trend in impression management used in sustainability reporting and underscore a potentially significant sectoral effect in the tactics used.
Originality/value
These data provide new insight into stakeholder engagement processes and highlight the strategies used by Canadian companies to manage their stakeholders’ impressions rather than their expectations. The study also contributes to a better understanding of the underexplored stakeholder engagement process and provides regulatory organisations with deepened insights to better frame stakeholder engagement disclosures.
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Sylvie Berthelot, Claude Francoeur and Réal Labelle
The purpose of this paper is to investigate the relationship between corporate governance practices or mechanisms and firm value, as measured by accounting and market data.
Abstract
Purpose
The purpose of this paper is to investigate the relationship between corporate governance practices or mechanisms and firm value, as measured by accounting and market data.
Design/methodology/approach
Partial least square analyses were performed on a sample of 355 observations from 199 Canadian listed companies. The greater variability allowed under the Canadian principles‐based institutional setting than under the rules‐based USA SOX environment is well‐suited for these tests.
Findings
Results suggest that some governance practices, namely the percentage of independent directors on the board, the use of stock options and the frequency of board meetings are significantly and negatively related to the firm's net book value or income. However, most individual governance practices appear to have no significant impact on the firms’ market value.
Research limitations/implications
The potential interrelationships between corporate governance practices and contextual variables are not specifically taken into account, except for the firms’ industrial sector. It is also possible that certain governance mechanisms jointly impact firm value.
Practical implications
This study does not support the current emphasis by regulators on governance practices which mainly concern the monitoring function of the board as opposed to its strategic one.
Originality/value
The paper uses Canada as a laboratory where companies are “invited” rather than “required” to follow corporate governance best practices. This greater corporate discretion in the choice of governance practices provides the variability necessary to test the effect of governance on firm value. Furthermore, in the interest of triangulation, a model seldom seen in the governance literature is used to examine the impact of governance mechanisms on firm value and performance, as measured by accounting and market data.
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Sylvie Berthelot, Tania Morris and Cameron Morrill
This paper aims to examine whether the corporate governance rankings published by a market information intermediary are reflected in the values that investors accord to firms.
Abstract
Purpose
This paper aims to examine whether the corporate governance rankings published by a market information intermediary are reflected in the values that investors accord to firms.
Design/methodology/approach
Panel data from 289 Canadian firms in the four‐year period 2002‐2005 were analyzed using a price model.
Findings
The results suggest that the corporate governance rankings published by the market information intermediary are related to not only firm market value, but also to accounting results.
Practical implications
This study provides empirical observations that would be useful for various organizations involved in the regulation of corporate governance practices and the standardization of relevant data elements.
Originality/value
This study contributes to the literature by demonstrating that information published by an information intermediary is reflected in firm market values. Moreover, this information appears to be related to the accounting results. Thus, good governance rankings are reflected in the accounting results.
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This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. 10;
Findings
Firms can indicate their genuine commitment to economic, social and environmental dimensions of sustainability through substantive engagement with all the different stakeholders involved. Making stakeholder engagement an inherent part of voluntary sustainability reports signals awareness and concern for relevant sustainability issues. On the contrary, reports limiting disclosure to more generic information invite assumption that preserving corporate image is the company's real objective.
Originality/value
The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.
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