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  • Corporate social responsibility, country-level predispositions, and the consequences of choosing a level of disclosure /
Tác giả CN de Villiers, Charl.
Nhan đề Corporate social responsibility, country-level predispositions, and the consequences of choosing a level of disclosure /Charl de Villiers & Ana Marques
Mô tả vật lý p167-p195
Tóm tắt We study the different levels of corporate social responsibility (CSR) disclosures of the largest European firms. We find that firms are more predisposed to disclose more CSR information in countries with better investor protection, higher levels of democracy, more effective government services, higher quality regulations, more press freedom, and a lower commitment to environmental policies. Our analysis of the association of different levels of CSR disclosure with share prices indicates that a high level of CSR disclosure is associated with higher share prices, whereas a low level of CSR disclosure in sensitive industries is associated with lower share prices (compared to no disclosure). These results are also present when we analyse changes in CSR disclosure and are robust to the inclusion of an accounting quality measure in our model. The overall effect of the association of higher levels of CSR disclosure with higher share prices is stronger in countries with more democracy, more government effectiveness, better regulatory quality, and more press freedom. Therefore, market participants find CSR disclosures more informative in countries where investors are in a better position to voice their concerns and where there is better regulation and more effective government implementation of regulations
Đề mục chủ đề Kế toán--Nghiên cứu--TV ĐHHN
Đề mục chủ đề Tài chính--Nghiên cứu--TV ĐHHN
Thuật ngữ không kiểm soát Voluntary disclosure.
Thuật ngữ không kiểm soát Corporate social responsibility.
Thuật ngữ không kiểm soát Global Reporting Initiative.
Tác giả(bs) CN Marques,Ana.
Nguồn trích Acounting and business research- 2016, Vol46, N.2
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1001|ade Villiers, Charl.
24510|aCorporate social responsibility, country-level predispositions, and the consequences of choosing a level of disclosure /|cCharl de Villiers & Ana Marques
300|ap167-p195
3620|aVol 46 (February 2016)
520|aWe study the different levels of corporate social responsibility (CSR) disclosures of the largest European firms. We find that firms are more predisposed to disclose more CSR information in countries with better investor protection, higher levels of democracy, more effective government services, higher quality regulations, more press freedom, and a lower commitment to environmental policies. Our analysis of the association of different levels of CSR disclosure with share prices indicates that a high level of CSR disclosure is associated with higher share prices, whereas a low level of CSR disclosure in sensitive industries is associated with lower share prices (compared to no disclosure). These results are also present when we analyse changes in CSR disclosure and are robust to the inclusion of an accounting quality measure in our model. The overall effect of the association of higher levels of CSR disclosure with higher share prices is stronger in countries with more democracy, more government effectiveness, better regulatory quality, and more press freedom. Therefore, market participants find CSR disclosures more informative in countries where investors are in a better position to voice their concerns and where there is better regulation and more effective government implementation of regulations
65017|aKế toán|xNghiên cứu|2TV ĐHHN
65017|aTài chính|xNghiên cứu|2TV ĐHHN
653|aVoluntary disclosure.
6530|aCorporate social responsibility.
6530 |aGlobal Reporting Initiative.
7001|aMarques,Ana.
7730|tAcounting and business research|g2016, Vol46, N.2
890|a0|b0|c0|d0

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