Online Voluntary Transparency in Spanish Retail Firms. Measurement Index and CSR-Related Factors as Determinants

Nuria García-Rodríguez,María Sanzo-Pérez,Luis Álvarez-González

doi:10.3390/su10103542

Abstract

Information transparency is a key aspect of the Corporate Social Responsibility (CSR) strategy. The new information and communication technologies, such as the Internet, allow companies to disseminate relevant corporate information to different stakeholders and society, promoting voluntary online transparency. The analysis of social responsibility information published on corporate websites permits, among other issues, the development of disclosure and transparency indexes that facilitate comparisons between companies, and the assessment of potential drivers of the transparency strategy. In this sense, this study has two main objectives: (1) To develop a measurement index of voluntary online transparency, and (2) to identify relevant factors that influence on such transparency. The empirical research was carried out by analyzing the websites of a 176 large Spanish retail companies. Regression analysis was used to test the proposed hypotheses. The results obtained show that online voluntary transparency is encouraged by the implementation of CSR principles in store management and by the particular type of contributions in which the social commitment of the retail is materialized (monetary versus non-monetary), as well as by the fact that employees and/or society as a whole represent the main beneficiaries of CSR activities.

Highlights

The concept of Corporate Social Responsibility (CSR) has evolved according to three main conceptual frameworks
The first one associates this concept with the effort made by firms to allocate economic resources to different charitable causes without expecting a direct economic benefit, with the exception of the positive effect that these actions have on corporate reputation [1]
Albu and Flyverborm [6] detail the historical roots of transparency in modern philosophy and policy making [18], noting, for example, the existence of similarities between transparency and good governance within many contemporary and regulatory contexts [19], the efforts made by institutions such as the European Union to promote across countries norms and regulations for implementing transparency in organizations [20], or the link highlighted by many streams of literature between transparency and trust or other related constructs [21]

Summary

Introduction

The concept of Corporate Social Responsibility (CSR) has evolved according to three main conceptual frameworks. The revision of CSR literature (see, for example, Albu and Flyverborm [6] or Parris, Dapko, Arnold, and Arnold [7]) points to corporate communication and transparency as key aspects of the CSR strategy. In this context, transparency can be understood as “the extent to which the organization provides relevant, timely, and reliable information, in written and verbal form, to investors, regulators, and market intermediaries” [8] Transparency can be understood as “the extent to which the organization provides relevant, timely, and reliable information, in written and verbal form, to investors, regulators, and market intermediaries” [8] (p. 361)

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Results