CSR Reports Research Articles

Access to innovative medicines by pharma companies: Sustainable initiatives for global health or useful advertisement?

ABSTRACTResearch & Development on new medicines plays an important role in life and well-being, making pharmaceutical companies important players in global health. Accessibility and financing new medicines, however, poses challenges for governments and patients around the world. Due to pricing and aggressive patent policy issues, pharma companies started to adopt access to medicines as a strategy to not only improve their public image but also to increase their economic performance. More than a useful institutional advertisement to attract new business, initiatives to improve access to medicines must be socially responsible and sustainable. Using content analysis methodology from CSR reports, the present study evaluated how 44 global companies are positioning themselves regarding access, whether these initiatives are aligned to existing access programmes and whether the actions disclosed on behalf of access are sustainable. We have identified 13 major access to medicines approaches that were classified into intrinsic, potentially sustainable and robust actions. We concluded that companies overvalue the term access to medicine. This can generate initiatives focused on advertisements rather than long-term actions and highlights the need for clear global criteria for companies and programmes that want to effectively publicise access to medicines as a social responsibility strategy.

Do large firms just talk corporate social responsibility? - The evidence from CSR report disclosure

Using a sample of Taiwanese listed companies during 2010–2016, this paper examines how firm size affects corporate social responsibility report disclosure and the moderating effect of firm size in the relationship of CSR disclosure and firm financial performance. The results show that firm size positively affects firms’ CSR disclosure. Moreover, CSR disclosure has a positive impact on firm financial performance, and the positive effect is stronger for small firms that have less employees. For small firms, CSR disclosure does improve financial performance. However, large firms just talk CSR, and thus the CSR disclosures of large firms have no impact on firm performance.

Corporate Social Responsibility and Firm’s Performance: Empirical Evidence from Pakistan

The objective of the study is to examine the impact of CSR activities by the organization on their financial performance. This study employs a quantitative and deductive approach. This research has been carried out with the secondary data which has been taken from the CSR reports of the Overseas Investors Chamber of Commerce and Industry (OICCI) and the annual reports of the listed companies of Pakistan Stock Exchange. In addition to that, the annual reports or sustainability reports of some companies have also been used to collect information about their CSR performance. The sample panel of this study consists of 55 companies having available data for at least a period of 3 years (2014-2016), hence consisting the data of 165 firm years. Random effect linear regression has been run for the two dependent variables for the measure of financial performance. The results indicated that CSR activities in education, community development, health, and infrastructure have a significant impact on organizational performance. The implications and recommendations were also made from the results.

CORPORATE SOCIAL RESPONSIBILITY REPORTING: A STUDY IN CONTEXT TO INDIA

The present study aims to focus on issues related to conducting confirmative factor analysis with selected qualitative variables of CSR reports. The target population is the services/manufacturing units of selected Indian companies. (n=310) from Maharashtra, Madhya Pradesh, Karnataka and Gujarat This study is conducted during FY2017-18 by obtaining necessary data from Government websites and other useful links. The variables that are determined for conducting factor analysis are based on sustainable report quality indicators. Factor analysis is conducted by using IBMSPSS.25 as a statistical tool. The analyzed data reflects on five hidden factors for the assessment criteria of Corporate Social Responsibility reports.

Relating carbon and energy intensity of best-performing retailers with policy, strategy and building practice

Retail stores are amongst the building typologies with the highest carbon (CI) and energy intensities (EI). However, previous studies have only explored best practice EI of food and non-food retailers, without identifying best practice CI threshold values. This paper presents a five-step analysis of CI and EI amongst the highest revenue retailers, benchmarking best and worst performing CI and EI retailers, analysing their nationality, performing a content analysis on their CSR reports and comparing results in terms of differentiation policies, strategies and building practices that can lead to increased environmental performance. Combined CI and EI best practice threshold values were found simultaneously under 346 kWh/m2/y and 115 kg CO2eq/m2/y for food retailers and under 146 kWh/m2/y and 70 kg CO2eq/m2/y for non-food retailers. In terms of policy, best-performing retailers shared a strong top-down management commitment towards sustainability across all business areas (p = 0.04) and an increased use of referential reporting standards, particularly of GRI standards (p = 0.05) and of the GHG protocol (p = 0.01). In terms of strategy, they established ambitious energy goals, such becoming 100% supplied by renewable energy (p = 0.05) or carbon neutral by 2020. As for building practice, LED and photovoltaic technology were the most popular high-performance solutions, but only the use of natural refrigerants (p = 0.001) and gas transfer to CO2 (p = 0.0007) were related to best-performing practice. The variability of CI and EI found in this study shows that it is already possible to reduce the retail sector’s contribution to global GHG emissions considerably. The proposed best practice CI and EI reference levels, linked to corporate policy, strategy and building practice, are useful new tools for retail energy-management, which can further promote sustainability in retail buildings, thus allowing a deeper understanding of how to decarbonize the retail building sector.

Analisis Faktor-Faktor yang Mempengaruhi CSR Disclosure Pada Perusahaan Manufaktur yang Terdaftar di BEI Periode 2016-2018

The research aims to analyze the Audit Committee, Profitability, Company Size and Leverage on CSR Disclosure. The study population is manufacturing companies listed on the Stock Exchange in 2016-2018 which reveal annual reports and CSR reports. The sample was determined by purposive sampling and 342 observations were obtained. Research data were analyzed using multiple linear regression methods. The research findings show that the Audit Committee, Profitability and Company Size have a positive and significant effect on Corporate Social Responsibility Disclosure, while leverage has a negative and not significant effect on CSR. The implication of this research is that CSR needs to be made as one of the company's long-term strategic tools which in turn can benefit stakeholders so that it can be considered by investors in making decisions.Keywords: Audit Committee; Profitability; Company Size; Leverage; CSR Disclosure

Non-financial value creation due to non-financial data reporting quality

Purpose:The main purpose of this article is to show non-financial value creation due to CSR 6reporting processes, a study on reports standards, types of reports submit by Polish enterprises 7and the statistics of the usage of these standards.8Design/methodology/approach:In this paper,GRI guideline requirements werepresented as 9a path to good-quality report creation. Additionally, anexample of quality assurance in CSR 10reporting in accordance withGRI guideline requirements was presented. The paper is based on 11the case study method. 12Findings:The result of the literature analysis is to show an approach to reportingnon-financial 13data in a comprehensive manner and in accordance with GRI guidelines.The other aspect is to 14show theinfluence of CSR reporting quality onnon-financial value.15Social implications:Reporting ofcorporate social responsibility by business organisations and 16entities is an example of improving the quality of human life, in particular in economic, social 17and environmental issues. The constant improvement of non-financial data reporting has 18significant impact on safety and sustainability in business and social development.19Originality/value: The paper shows specific view on non-financial value in connectionwith20stakeholders and organisations’ interest groups. 21Keywords:Non-financial value, CSR report quality, CSR reports, CSR reporting statistics, 22GRI guidelines.23Category of the paper: Case study, literature review.

Corporate Social/Environmental Responsibility and Value Creation: Reflections on a Modern Business Management Paradigm

The present article deals with a new, modern business management paradigm founded on both the social and the environmental responsibility of firms intended as powerful instruments to match the issue of sustainability with corporate performance and value creation (thus evolving from the classical shareholder value to a new, more comprehensive, shared value view). The Directive 2013/34/EU required the disclosure of large enterprises and groups’ non-financial and diversity information. At the same time, a growing number of proactive companies that behave with real initiatives more compliant to the so-called Stakeholder Theory have become quite familiar to produce CSR and sustainability reports periodically to share with the community their relevant responsibility actions and achievements (3 P results or triple-bottom-line performance, as a for-profit, people, planet). Such a complex, behavioral, and informative approach follows the corporate governance setting and management strategy within the ethical domain (business ethics). In this perspective, we conduct a systematic research study on the economic literature that showed a focus on the possible relation between the responsible behavior/information and the economic/financial performance of firms, analyzing both the empirical findings and theoretical works significantly investigating the effect of sustainability indicators on financial and market results. According to the general studies, socially responsible policies can produce a positive impact on company performance by many advantages such as the reduction of operating costs and financial risks, an increase of efficiency and competitiveness, the improvement of the company’s reputation, and a related increase in consumer confidence; despite preceding studies pointed out that CSR investments and responsibility policies (representing the result of an agency conflict between managers and shareholders) would generate just an increase in costs and a consequent decline in the performance of companies. The consideration of the ESG (environmental, social, and governance) – which completes the CSR issue – and its new goals in the long run, even as a component of the holistic enterprise risk management system, finally enables us to reinterpret the fundamental competitive advantage of firms in a sustainability key. In particular, the environmental, social, and governance extra-performance over the industry may show to be more ‘value-relevant’ than the absolute ESG ratings itself. In conclusion, the social, environmental, and governance responsibilities (to all stakeholders) are building a set of dynamic capabilities and actions which reveal a new competitive (X) Factor of the modern corporation. Keywords: CSR, Environmental-Social-Governance, Economic Performance, Value Creation; Stakeholder Theory, Sustainability Disclosure.

The Extent to Which Multinational Organizations Follow Csr and Adjust Csr Strategy According to Regional Differences: a Comparitve Study Between Nokia and Coca Cola

Corporate social responsibility is a relatively new concept that became widespread about three decades ago. Since then, it has become one of the most important aspects of designing and implementing business policies and strategies in organizations around the world. This paper aims to study the CSR reports of Nokia and Coca-Cola to discover the extent to which global companies apply the principles of corporate social responsibility in the following three aspects: the environment, employees, and society. The current study compares the policies of global companies in these areas and aims to determine whether global companies alter their social responsibility policies in different places around the world based on the cultural and social differences in which they perform their business activities. The research methodology is qualitative analysis based on secondary data such as previous studies and the analysis of the 2018 CSR reports of Nokia and Coca-Cola. The study concluded that the two companies do not apply social responsibility policies to the same extent and that companies do not follow different policies in different countries around the world.

Lonmin CSR Reporting Practices and the Marikana Massacre

In the last decades, corporations have been increasingly reporting on their social and environmental activities, to highlight transparency and accountability towards their business activities. This positive trend is strongly driven by stakeholder pressuring in various dimensions. However, in the context of major crisis/incidents, questions have been raised on how companies may use Corporate Social Responsibility disclosures to regain legitimacy and restore reputation towards those negative situations. This study will rely on an example of a legitimacy-threatening event: the Marikana massacre (2012) associated with Lonmin. This study will analyse how Lonmin’s CSR disclosures have evolved, both quantitatively and qualitatively, within the timeframe “before, during and after” the incident. Findings extend and corroborate the previous literature research on the legitimacy theory, by demonstrating that the company did, in fact, changed its CSR disclosure patterns and strategies, presumably by attempting to regain legitimacy after the incidents.

Corporate Governance Factors as Indicators of Credibility of CSR Reports

Corporate Governance Factors as Indicators of Credibility of CSR Reports

The impact of religiosity and corruption on CSR reporting: The case of U.S. banks

In this paper, we provide insights into CSR disclosure strategies by bringing to the fore the important role played by contextual factors. We examine the impact of religiosity upon the instigation of voluntary CSR disclosures and the way that corruption, a trans-systemic contextual feature, moderates this relationship. We draw upon social norm and institutional theories to illuminate the mechanisms through which contextual elements give rise to management disclosure strategies. Our investigation focuses on the U.S. context, where religiosity is of increasing importance and concentrates on the U.S. banking industry, whose impacts and ramifications are global. We demonstrate that the probability of a bank issuing a standalone CSR report is positively associated with the level of adherence to religious norms, a relationship which weakens in regions characterized by high levels of corruption. The implications of our findings are important for analysts and other market participants.

Foreign companies’ CSR themes and objectives in Central Asia

The study showcases key themes and objectives of CSR of MNCs in transition economies and the types of CSR activities reported to the audience. The contribution of the paper is in bringing insights into the goals, motives, and objectives of CSR of MNCs in Central Asia. The findings of the study are based on the content analysis of the companies’ CSR activities explicitly reported to the audience. Multiple sources of publicly available data on MNCs (CSR reports, annual reports, websites of the companies, local news outlets reporting about CSR of foreign companies) were collected, coded and analyzed to generate the findings. The limitation of the study is in the limited number of companies/countries reviewed. This paper contributes to the literature on CSR of MNCs in transition economies.

Causes and consequences of voluntary assurance of CSR reports

PurposeThe purpose of this paper is twofold. First, the authors investigate a firm’s decision to provide a CSR report, and if so, whether to have the report assured and to seek higher quality assurance as reflected through the choices of the scope of the assurance and type of assurer, Big 4 accounting firm vs specialist consultant. Second, the authors investigate the impact of voluntary assurance of CSR reports, assurance scope and type of assurer on the likelihood of inclusion in the DJSI and on market valuation.Design/methodology/approachThe study’s sample consists of 17,050 firm-year observations from 40 countries with CSR reports available from Corporate Register and ESG metrics available from ASSET4 over the period 2009–2015. The study first empirically examines the associations between CSR commitment and each of CSR report provision, CSR report assurance, assurance scope and type of assurer. It then examines that association between both inclusion in the DJSI and market valuation with each of CSR report assurance, assurance scope and type of assurer, using inclusion in the DJSI as an objective measure of a firm’s reputation for sustainability given its recognition as a leading indicator for corporate sustainability and market valuation as a reflection of the broader set of capital market participants.FindingsThe authors establish two key findings consistent with the predictions of signaling theory. First, we show that high CSR commitment firms are more likely to: provide standalone CSR reports; obtain assurance; obtain assurance from a Big 4 accounting firm; and, adopt higher assurance scope. Second, the authors find that both CSR report assurance and assurance scope increase the likelihood of inclusion in the DJSI, but that the type of assurance provider does not. Alternatively, the authors find that capital market participants appear to value the provision of a CSR report only when it is assured by a Big 4 accounting firm.Originality/valueThe results in the existing literature exploring the capital market benefits to CSR Assurance have been mixed. Firms that voluntarily obtain CSR Assurance incur a cost in doing so and must perceive a net benefit from obtaining such assurance. Despite the limited guidance currently provided by existing CSR standards, we establish the existence of benefits to obtaining CSR Assurance in terms of enhanced likelihood of DJSI inclusion and, more generally, enhanced market valuation. The discussions with DJSI analysts indicate that CSR assurance does enhance the perceived reliability of CSR data, thus improving user confidence.

Heterogeneity in CSR Spending Across Indian Companies: Results from Regression Clustering on a Large Panel-Data Model with Fixed Effects

CSR activities in India have a long history. However there have been numerous criticisms rose against the way in which the CSR activities are carried out by many of the Indian companies. Several studies found that more than half of the Indian firms failed to meet their mandatory requirements on CSR spending and report unspent funds in their financial statements. These issues show’s that, there is a requirement to evaluate the behavior pattern of the firms’ CSR spending activities. In this article, we try to describe the heterogeneity in the CSR related spending activities of the Indian companies. We follow the panel regression clustering approach developed by Sarafidis and Weber (2015). In this approach individual companies are grouped into a number of clusters and within each cluster, the slope parameters are assumed to be similar in nature. The difference in slopes across clusters is due to the standard error-components structure. As the clusters are heterogeneous, they do not share common parameters.

PENILAIAN KINERJA TRIPLE BOTTOM LINE PERUSAHAAN HIGH PROFILE DAN LOW PROFILE YANG LIST DI BEI

This research is conducted with the aim of analyzing the performance of companies in Indonesia if measured by Triple Bottom Line and testing whether companies with high environmental risk (high profile type) have different performance with companies with low environmental risk (low profile type). Triple Bottom Line performance is measured by the GRI-G4 Index. The data were obtained from companies listed on the Indonesia Stock Exchange in 2017 and the research sample was conducted with purposive technique and obtained 42 companies. Data is obtained by downloading Financial reports and CSR Report at www.idx.co.id. Data analysis was done by descriptive statistic and Independent Sample T Test. The results showed that performance based on Triple Bottom Line in Indonesia in 2017 was low (24%). Whereas, if observed on performance differences in companies with high profile type with low profile type, profit performance measured by economic aspects and the performance of planets measured by environmental aspects is unlikely. While the performance of people measured by social aspect shows difference between high profile company and low profile.

Comparative Review of Corporate Social Responsibility of Energy Utilities and Sustainable Energy Development Trends in the Baltic States

This paper aims at developing the theoretical framework for linking the CSR of energy utilities with sustainable energy development achievements and at applying this framework in selected countries. The main issues of CSR relevant to the energy sector are discussed, and a comparative analysis of CSR reports of energy utilities and sustainable energy development trends in the Baltic States (Lithuania, Latvia, and Estonia) is performed based on the developed framework. There are three main interlinked sustainable energy development targets: increase in energy efficiency, the use of renewable energy sources, and GHG emission reduction. The significance of CSR in the energy sector is underlined based on the literature review, and the state policies to promote CSR in the energy sector are discussed and critically assessed based on the case studies of three Baltic States. The CSR practices of energy utilities of the Baltic States were assessed and compared with sustainable energy development achievements in these countries, based on the analysis of sustainable energy development trends. Estonia achieved the best results in approaching all sustainable energy development targets and was ranked with the highest scores in CSR ranking among the Baltic States, followed by Lithuania. The results of the case studies demonstrate that the Baltic countries have achieved different results in sustainable energy development progress, and the role of energy utilities and their corporate sustainability practices may have huge impacts on the achievement of sustainable energy development targets.

CSR Reporting Standards: Implementation in Polish Enterprises

CSR Reporting Standards: Implementation in Polish Enterprises

Social Disclosure and Profitability: Study in Indonesian Companies

We tried to investigate the causal relationship between profitability and corporate social responsibility disclosure. We choose listed companies under Kompas100 index as our sample to test whether profitability ‘granger cause’ CSR disclosure and whether CSR disclosure ‘granger cause’ profitability. We conduct multiple regression analysis to see the effect. ROA, ROE and NPM are used as the proxy for profitability and the number of lines in sustainability report as the proxy for CSR disclosure. We find that there is no link between profitability and CSR disclosure and that profitability is not the main reason for company to publish CSR report. This study is limited to companies listed in Kompas100 index. The findings of this study can give insights to the managers and investors that there is no link between profitability and CSR disclosure

State-Led FDI and Multinational Firms’ CSR Reporting: A Dual Legitimacy Perspective

This paper highlights the social risk in the host country confronting multinational firms who are shielded from political risk due to country-level bilateral investment treaties, and CSR reporting ...