Abstract
Purpose: The influence of macro-, meso-, and micro-level factors on corporate environmental disclosure was evaluated for a sample of German and Brazilian firms belonging to environmentally sensitive sectors.Theoretical framework: The macro-level analysis was based on the national business system approach (Whitley, 1999), the meso-level analysis was based on business sector (Campbell, 2007; Ederington & Minier, 2003), and the micro-level analysis was based on endogenous corporate variables (Sánchez, Domínguez, & Álvarez, 2011; Waddock & Graves, 1997).Methods: Data covering the 2014-2016 period were retrieved from sustainability and financial reports issued by firms in six sectors (aviation, energy, timber, paper, chemicals, and textiles) and subjected to panel data analysis and hierarchical linear modeling.Results: Our results confirm the hypothesized association between environmental disclosure and national culture. Business sector was also a significant factor, but the strongest determinants were firm size and profitability.Practical and social implications: The endogenous (micro-level) variables displayed the greatest explanatory power for environmental disclosure in both countries. Investigators in this field are therefore advised to direct more attention to factors at this level.Contributions: Hierarchical linear modeling increased our ability to evaluate the factors influencing corporate environmental practices.
Highlights
The 1970s saw the emergence of collective concerns which would eventually coalesce into the concept of corporate environmental and social responsibility (CSR) (Kolk, 2010)
The purpose of the present study was to evaluate the influence of variables at three levels on environmental disclosure – one of the pillars of the triple bottom line
Several aspects of the political system have been connected with corruption. Authors such as Lattemann et al (2009), Ioannou and Serafeim (2012), and Agyei-Mensah (2017) believe CSR disclosure is negatively impacted by corruption
Summary
The 1970s saw the emergence of collective concerns which would eventually coalesce into the concept of corporate environmental and social responsibility (CSR) (Kolk, 2010). These concerns were initially social in nature, but in 1990, once environmental issues had become more widely acknowledged, they culminated in the so-called ‘triple bottom line’ – a social, environmental, and economic framework. As pointed out by Kraemer (2001), this new understanding of the role of private enterprises has increased external pressure on firms. More and more firms make public their stance on environmental issues through disclosure in corporate reports (Kraemer, 2001; Ribeiro, Bellen, & Carvalho, 2011)
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