Abstract
Corporate Social Responsibility Disclosure (CSRD) is the process of communicating the social, ethical and environmental effects of organizations’ economic actions. It is a formal commitment to inform and involve stakeholders with an adequate flow of communication through suitable channels, focusing on relevant content. The aim is to study voluntary disclosure implemented by Italian listed companies in the last 9 years (2008-2016). The empirical survey covers data and information on 165 companies. We have analysed: 1) the extent of CSRD in Italy; 2) the characteristics of voluntary disclosure in terms of type of report published and guidelines or standards followed; 3) the main differences between the industrial sectors about the publication of non-financial reports and the types of report used. Our findings show a significant improvement in the practice of voluntary disclosure of Italian listed companies and a key role of industry in decisions regarding the quantity and quality of non-financial disclosure. The value of this research concern in the wide (in time, through the last nine years, and in space, through the different industries) point of view through which is investigated the phenomenon of CSRD in Italy before the shift from a voluntary to a legislative perspective.
Highlights
Corporate Social Responsibility Disclosure (CSRD) can be defined as «the process of communicating the social, ethical and environmental effects of organizations’ economic actions to particular interest groups within society and to society at large» (Gray et al, 1987)
The study focuses on the following research questions: RQ1: What is the extent of CSRD in Italy and how has it evolved during the last 9 years? RQ2: What are the characteristics of voluntary disclosure in terms of type of reports and guidelines followed? RQ3: Which are the main differences between the industrial sectors about the publication of nonfinancial reports and the types of report used? The empirical survey covers qualitative-quantitative data and information on 165 Italian listed companies excluding the sectors of banking, finance and insurance
The research questions are as follows: RQ1: What is the extent of Italian CSRD and how has it evolved during the last 9 years (2008-2016)? (Marimon et al, 2012; Hahn and Kühnen, 2013); RQ2: What are the characteristics of voluntary disclosure in terms of type of report and guidelines or standards followed? (Frias-Aceituno et al, 2014; Mio et al, 2016); RQ3: Which are the main differences between the industrial sectors about the publication of nonfinancial reports and the types of report used?
Summary
Corporate Social Responsibility Disclosure (CSRD) can be defined as «the process of communicating the social, ethical and environmental effects of organizations’ economic actions to particular interest groups within society and to society at large» (Gray et al, 1987) It is part of the formal commitment to inform and involve stakeholders’ with an adequate flow of communication through suitable channels, focusing on relevant content. A growing number of professional and academic institutions and organizations promote the implementation of CSR reporting and supply useful guidelines for helping company disclosure In certain countries, such as France, Sweden, Norway, Netherlands, Denmark and Australia, firms are under legal obligation to disclose socio-environmental performance. Before 2017, they could opt to disclose CSR information at their own discretion in standalone reports, such as social, sustainability or environmental reports, or to combine all economic, social and environmental information in an integrated report
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
