Corporate social responsibility disclosure and company characteristics: insights and empirical evidence from the Libyan extractive sector

Abstract

This study investigates the corporate social responsibility disclosure (CSRD) practices of Libyan extractive companies from 2009 to 2014, discerning the most appropriate theoretical explanation of such practices in light of the relationship between levels of CSRD practice and specific company characteristics. The study uses the content analysis technique to analyse the annual reports of companies. The study finds that whether a company is public or private, country of ownership structure and activity location are the major significant determinants influencing and correlating with CSRD levels in Libya. Conversely, company size, age and industry concentration are not positively correlated with CSRD levels in Libya. The study highlights the lack of explanatory power of the existing CSRD theories within this specific context. The implications of this study suggest that without international influence, it is less likely that institutional forces in Libya would be effective in dealing with CSRD issues.