Determinants and consequences of corporate social responsibility assurance: a systematic review of archival research

Abstract

PurposeThis paper aims to analyze the governance-related and financial determinants and consequences of corporate social responsibility assurance (CSRA).Design/methodology/approachBased on a legitimacy theoretical framework and on the business case argument, the author conducts a structured literature review and includes 66 quantitative peer-reviewed empirical (archival) studies on key CSRA proxies (CSRA adoption, choice of CSR assuror and CSRA quality).FindingsIn line with the business case for CSRA, the literature review indicates that internal corporate governance, country-related governance and specific financial determinants as reporting, firm size and industry (sensitivity) have a positive impact on CSRA adoption.Research limitations/implicationsA detailed analysis of CSRA proxies is needed in future archival research to differentiate between symbolic and substantive use of CSRA. In view of the current regulatory initiatives on CSR reporting and their decision usefulness, future research should also analyze in greater depth CSRA proxies as moderator and mediator variables.Practical implicationsWith regard to the increased stakeholder demand on CSRA after the financial crisis of 2008–2009, firms should be aware of the value-added of CSRA to increase the decision usefulness of their CSR reports and firm reputation.Originality/valueThe analysis makes useful contributions to prior literature by focussing on empirical quantitative (archival) research method, structuring research on the business case for CSRA with respect to its governance and financial determinants and consequences for firms and stressing moderator analysis in archival CSRA research.