The Differences in Corporate Environmental Disclosures on Websites and in Annual Reports: A Case Study of Companies Listed in Thailand

Abstract

This study investigates the corporate environmental disclosure practices of companies on the Stock Exchange ofThailand in annual reports and websites. Content analysis by word count is used to determine the amount ofdisclosures on 50 sampled websites and annual reports. Statistical analysis (descriptive, paired samples T-tests,and independent samples T-tests), is employed to analyse the differences between environmental disclosuresmeasured by word count in annual reports and on websites. Initial findings indicated that 96 percent of thesampled Thai listed companies provided environmental disclosures in their annual reports and 88 percent onwebsites. Companies providing the most words of environmental information were in the resources businessgroup in both media; the smallest word counts were in the services business group on websites, but in thetechnology business group in annual reports. Commonly environmental disclosures were found in the corporatesocial responsibility section of the websites but in the corporate governance section of the annual reports. Thethree most common themes were environmental spending and activity, waste management, and environmentalpolicy in both annual reports and websites. Statistically significant differences were found between high and lowprofile companies as well as government and private companies. However, this study could not find differentamount of environmental disclosures made in annual report and on websites. The study has implications inenhancing the understanding the differences between disclosures in annual reports and on websites particularlyin developing countries. The usual limitations associated with sampling, and content analysis apply. Disclosurequality was not considered.