Extent Of Corporate Social Responsibility Disclosure Research Articles

Corporate Social Responsibility Disclosure and Stock Market Liquidity: The Case of Jordan

This study aims to evaluate the level of corporate social responsibility (CSR) disclosure in the annual reports of Jordanian companies, and to examine its impact on stock market liquidity. The findings indicate a significant variation in the extent of CSR disclosure among the companies, with an average disclosure rate of 48.12% of the applicable items. The regression analysis results show no significant relationship between CSR disclosure and the bid–ask spread. The study concludes that investors do not heavily rely on CSR disclosures when making decisions about trading involving Jordanian companies. This lack of dependence may be attributed to such information’s perceived inaccuracy or incompleteness. Investors may turn to alternative sources of information, such as news sources, and even advice from their networks.

Pengaruh Profitabilitas dan Gender Diversity terhadap Luas Pengungkapan CSR (Corporate Social Responsibility)

Company activities not only have positive impacts but also negative impacts, one of the negative impacts is pollution and damage to the surrounding environment. This research aims to analyze the influence of profitability and gender diversity on the extent of Corporate Social Responsibility (CSR) disclosure in energy and basic sector companies listed on the Indonesia Stock Exchange in 2019-2021. CSR disclosure is the dependent variable in this research which is measured based on the 2016 GRI Standard index. The independent variables used in this research are Profitability (ROA and NPM) and gender diversity. Sampling used purposive sampling with a total of 77 data samples. The data analysis method used is multiple linear regression with SPSS 25 software. The research results show that NPM has a positive effect on the extent of CSR disclosure, gender diversity has a negative effect on the extent of CSR disclosure, and ROA has no effect on CSR disclosure.

Corporate governance mechanisms and corporate social responsibility disclosure: evidence from an emerging market

PurposeThis study aims to examine the relationship between corporate governance mechanisms, namely, board independence, board size and gender diversity, and the extent of corporate social responsibility (CSR) disclosure for companies listed on the Saudi stock exchange.Design/methodology/approachData has been extracted from the annual reports of a sample of 67 companies listed on the Saudi Stock Exchange during the period 2014–2019. Three panel data techniques have been used to investigate the association between governance variables and the extent of CSR disclosures after statistically controlling the effects of the size, leverage and profitability of the companies.FindingsThe results of this study indicate that board independence and board size have positive and significant associations with the extent of CSR disclosures. However, the study finds that the percentage of female representation on the board has a positive effect on the extent of CSR disclosure, but that this effect is not statistically significant.Research limitations/implicationsThe results of this study are limited to the context in which the study was conducted, which is the Saudi stock exchange during the period 2014–2019, and then the generalization of the results may be limited to listed companies operating in a similar social and economic context. Also, the data sources in this study were limited to the annual reports of companies only.Practical implicationsThe results of this study provide some indications for policymakers in Saudi Arabia to take what is necessary to promote corporate governance mechanisms and, therefore, enhance CSR practices.Originality/valueThis study contributes to the literature on CSR by providing empirical evidence on the impact of corporate governance mechanisms on the extent of CSR disclosure from one of the developing countries, which is Saudi Arabia.

Determinants of the extent and quality of corporate social responsibility disclosure in the industrial and services sectors: the case of Jordan

PurposeThis study aims to investigate the determinants of the extent and quality of corporate social responsibility disclosure (CSRD) in Jordan. The study examines a number of factors that influence the extent and quality of CSR disclosure, such as corporate characteristics, corporate governance and ownership structure.Design/methodology/approachA quantitative approach and a content analysis technique is used to measure the extent and quality of CSRD from annual reports. The sample is drawn from the annual reports of 118 Jordanian companies between 2010 and 2015. A CSRD index is constructed, which includes the disclosures of the following categories: environmental, human resources, product and consumers, and community involvement. This is the first study that presents a new measurement for CSR disclosure quality by using images and charts in a seven-point scale measurement.FindingsThe result reveals that the extent of CSRD is higher than quality in Jordan. Regarding the determinants of CSR disclosures, the following factors were found to have a significant relationship with both the extent and quality of CSRD: board size, non-executive directors, age of firm, foreign members on the board, number of boards meetings, the presence of audit committees, big 4, government ownership, size of firm and industry type. Non-executive directors was found to have a significant correlation with the extent of CSRD.Research limitations/implicationsThe current study has some limitations; first, the study findings are limited to the Jordanian environment. Second, the study adopted a purely quantitative method, and future research could include interviews and questionnaires to gather data from financial managers and chief executive officers (CEOs). Third, the potential influences on the level and quality of CSR are not limited to the variables tested in this study. Future research can be done on new determinants, such as CEO interlocking and profitability. Finally, the sample included companies from two main sectors – the services and industrial sectors; thus, this limited the results to these two main sectors.Practical implicationsPractitioners, as firms, should develop new strategies and ensure that CSR is included in their reports. Thus, companies can achieve legitimacy for their products and activities. Policymakers must consider introducing new laws that mandate CSRDs since it has many advantages for companies and society. In addition, this research suggests amending the law to require companies to have 33% of their directors be non-executives since this will remove the negative effect on CSR disclosure. Investors must pay attention to the social activities of the companies they invest in, as CSR could have a positive effect on their market value.Social implicationsThe study has indicated that Jordanian companies became increasingly more involved in CSR activities, as this growth in CSRD is linked with global increases in CSR. Moreover, the study has revealed that the highest category of CSR disclosures is related to products or services and employee information. On the other hand, the lowest category of CSR disclosures is related to community and other disclosures (extent) and environmental disclosures (quality). Furthermore, the results show that the services sector was found to have more disclosures regarding employees and community, whereas the industrial sector was more concerned about environmental and product information.Originality/valueTo the best of the authors’ knowledge, this is the first study that presents a new measurement for CSR disclosure quality by using images and charts in a seven-point scale measurement. This new seven-point scale will be adopted to distinguish between poor and excellent disclosures. In addition, to the best of the authors’ knowledge, this is the first study in Jordan which examines the determinants of the extent and the quality of CSR for three categories, namely, corporate characteristics, corporate governance and ownership structure.

Do creditors value corporate social responsibility disclosure? Evidence from Ghana

Purpose Drawing on risk mitigation theory, this study aims to examine the link between corporate social responsibility (CSR) disclosure and the cost of debt financing (CDF). In particular, this paper seeks to determine whether firms with higher CSR disclosure scores have a lower CDF. Design/methodology/approach This paper uses a panel data analysis of non-financial Ghanaian firms listed on the Ghana Stock Exchange from 2006 to 2019. The CSR index constructed from firms’ annual reports and sustainability reports is used as a proxy for the extent of CSR information disclosures by Ghanaian companies. Findings The empirical results demonstrate that CDF is positively related to CSR disclosure scores. Besides, the results show that the levels of long-term debt increase with CSR disclosure in a highly risky industry. However, the finding does not meet the lenders’ expectations in terms of CSR attracting favourable debt financing sources. Research limitations/implications The research is based only on the quantity of the CSR information disclosed by Ghanaian companies and does not account for the quality of the CSR disclosures. The empirical model omits some control variables such as the age of the firm and external business conditions. The results should not be generalized, as the sample was based on three listed industries in Ghana for 2006–2019. Originality/value This study extends the scope of previous studies by examining the importance of CSR disclosures in financing decisions. More precisely, it focuses on the relatively little explored relationship between the extent of CSR disclosures and access to debt financing. Moreover, this study focuses on the rather interesting empirical setting of Ghana, which is characterized by its low level of CSR awareness. Achieving a better understanding of the effects of CSR information is useful for corporate managers desiring to meet lenders’ expectations and attract debt financing sources.

Corporate Social Responsibility Disclosure and Financial Performance of Shariah PLCS in Malaysia

Corporate social responsibility disclosure (CSRD) has become a critical issue, as evidenced by an increasing number of studies conducted in both developed and developing countries. As such, this study will examine the CSRD of Shariah-compliant PLCs in Malaysia and its relationship to financial performance. From 2007 to 2017, 175 Shariah PLCs listed on Bursa Malaysia's Main Market were chosen as samples for this study. The findings indicate that the level of CSRD in Shariah PLCs in Malaysia remains low. Additionally, the CSRD is positively correlated with financial performance (ROA and Tobin's Q). Also, Muslim directors have a negative correlation with financial performance (ROA and Tobin’s Q), whereas board size has no such correlation with ROA or Tobin's Q. There is a need for additional encouragement from the Malaysian government or regulatory bodies to encourage all PLCs to include CSR activities in their annual reports, particularly Shariah PLCs in Malaysia. Future research can therefore examine the determinants and extent of CSRD in Shariah and non-Shariah PLCs in Malaysia or by industry or compare Shariah PLCs to other Shariah PLCs in ASEAN countries (Indonesia, Singapore, Brunei Darussalam, Thailand, Cambodia, or Bangladesh); and employ alternative financial performance measures (e.g., stock returns, market capitalization, or dividend yields.

Corporate governance and CSR disclosure: evidence from European financial institutions

The present work aimed to empirically examine the association between corporate governance mechanisms and the extent of corporate social responsibility (CSR) disclosure in European financial institutions. The corporate governance variables, particularly board size, board independence, the proportion of female directors, chief executive officer (CEO) duality, ownership concentration and CEO ownership, were used. The sample of this empirical research consisted of 115 financial institutions belonging to 12 European countries from 2007 to 2017, and panel data regression was used for analysis. The results indicate that board size, board independence, the proportion of female directors and the CEO ownership have positive associations with the extent of CSR disclosure, while CEO duality and ownership concentration have no significant associations with the extent of CSR disclosure. This study is important due to following reasons: First, it focused on the financial sector which is often excluded from CSR studies due to its specific legal regulations and its little environmental impact. Second, this study provides empirical evidence that some governance mechanisms are important determinants of CSR disclosure in the financial sector. Third, it uses the environmental, social and governance score, which has not been widely used in CSR studies, especially in financial institutions. Finally, the research states the crucial implications for the financial sector and regulatory bodies.

CSR disclosure on Twitter: Evidence from the UK

Ongoing advancements in technology have dramatically changed the disclosure media that companies adopt. Such disclosure media have evolved from traditional paper-based ones to the internet as the new platform for disclosing information on companies’ designated websites; however, the new media for disclosures are currently social media platforms. Among the important disclosures that companies make are Corporate Social Responsibility (CSR) disclosures. These are now deemed indispensable due to growing social awareness among societies. While a significant body of the literature is dedicated to studying CSR disclosures and their determinants on the traditional media, studies examining CSR disclosures on social media are quite few. Hence, the aim of this paper is to investigate corporate social media accounts for CSR disclosures, as well as identify their determinants. The sample of the study is comprised of tweets posted on the Twitter accounts belonging to the FTSE 350 constituents. Topic modeling, an unsupervised machine learning approach, is applied to identify CSR disclosure tweets and regressions are run to identify the determinants of CSR disclosure on Twitter. The utilization of topic modeling to reveal CSR content on social media is considered a new approach to mainstream CSR disclosure literature; as such, this paper examines the new phenomenon of CSR disclosures on social media using new research methods. Results show that the popularity of Twitter as a CSR disclosure platform has risen significantly over the past few years. The paper also provides evidence that the presence of women on company boards, especially non-executive women, is positively associated with the extent of CSR disclosure on Twitter. Results highlight the importance of board independence for CSR disclosure in a social media disclosure context, complementing other disclosure platforms. Larger firms are also found to disclose more CSR information on Twitter compared to smaller ones indicating that firm size plays an important role determining a company’s level of CSR disclosure on social media.

Factors influencing corporate social responsibility disclosures in Nepalese banks

PurposeThis paper examines the relationship between selected firm-specific variables and the extent of corporate social responsibility (CSR) disclosures made by Nepalese banks.Design/methodology/approachA content analysis approach of the banks' annual reports is applied using a CSR disclosure index based on the Global Reporting Initiative guidelines. The factors identified in this study – bank size, bank age and bank profitability – are analyzed against the extent of CSR disclosures in the Nepalese banks using multiple regression.FindingsThe main finding from the content analysis indicates that the extent of CSR disclosures made by Nepalese banks in their annual reports is mostly descriptive, with charity and donation being the most disclosed items. The main findings from the correlation and regression analyses show that there are positive and significant relationships between both bank size and profitability and the extent of CSR disclosures in the Nepalese banks, while bank age is a partial determinant.Originality/valueBanks have a significant role in the Nepalese economy. This study offers insights into the CSR disclosure practices of Nepalese banks, examines the potential factors affecting CSR disclosure and expands the pool of CSR knowledge in the developing country context, especially in the banking sector.

Is Institutional Environment the Only Force Behind Corporate Social Responsibility Disclosure? An Insight into Indian Companies

Purpose: Companies Act, 2013, has brought a revolution in the regime of corporate social responsibility (CSR) disclosure in India, making it a mandatory practice for the corporate sector. The purpose of this article is to examine the impact of statutory provisions on the extent of CSR disclosure in India.Design/methodology/approach: This article considers an effective sample of 144 companies selected on the basis of average market capitalisation. The study relates to the year 2015–2016, which represents the time period when companies started reporting CSR issues mandatorily. CSR disclosure scores are calculated by using content analysis. Both univariate and multiple regression models are applied to check the effect of statutory provisions on CSR disclosure.Findings: The results indicate that variables namely NETWORTH, TURNOVER and DOMESTIC dummy have positive and statistically significant impact on CSR disclosure scores. However, TOBINSQ, representing profitability of companies, has negative and statistically significant impact on CSR disclosure scores, thus leading to anxious results.Research limitations/implications: Factors affecting CSR disclosure score have been selected on the basis of new statutory provisions introduced by the Ministry of Corporate Affairs. Certain other vital attributes, especially related to corporate governance variables, too can be controlled for so that results have strong implications for companies.Practical implications: The empirical findings of this article implicate that institutional setup of a country has a strong bearing on the disclosure practices of the corporate sector. Thus, the authors strongly recommend to the statutory bodies that it is not sufficient just to make statutes but their implementation too should be ensured.Originality/value: With specific reference to India, mandating CSR disclosure is a recent law; so, the current study being first of its kind, would definitely add to the available literature and open gateways for future research.

Nature and Extent of Corporate Social Responsibility Disclosure in India: A Study of Selected BSE Companies

Corporate social responsibility (CSR) disclosure is growing at an increasing trend in the corporate world. It is a relatively new concept and it has emerged as a crucial research domain over the last decade. Financial as well as social performances of the company are the strong basis of sustainable development. At present, corporations in India are confirming an authentic and legitimate concern about the upliftment of their stakeholders and community. Thus, the prime objective of this study is to analyse the nature and extent of CSR disclosure in Indian companies selected from the top 200 BSE companies for the period 2014–2016. Content analysis has been employed using CSR checklist to compute the disclosure score under four dimensions of CSR, such as employee relations; welfare and development of community; consumer issues and products and environment. The percentage of companies disclosing CSR has been observed to be enhancing over the period of study and regarding the dimensions of CSR. The most disclosed dimension is customer issues and products followed by community development and welfare, environment and employee relations. The analysis also reveals that the CSR disclosure in selected industries has been increased during the period of study. Oil and gas industry is on the top position in terms of CSR disclosure and chemical and leather industry stands at the bottom-most position.

Corporate social responsibility disclosure and debt financing

PurposeThe purpose of this paper is to examine how corporate social responsibility (CSR) reporting influences leverage ratios. In particular, this paper aims to determine whether firms with higher CSR disclosure scores have better access to debt financing.Design/methodology/approachThis paper uses a panel data analysis of non-financial French firms listed on the Euronext Paris Stock Exchange and members of the SBF 120 index from 2010 to 2015. The environmental, social and governance (ESG) disclosure scores that are collected from the Bloomberg database are used as a proxy for the extent of ESG information disclosures by French companies.FindingsThe empirical results demonstrate that leverage ratios are positively related to CSR disclosure scores. In addition, the results show that the levels of long-term and short-term debt increase with the disclosure of ESG information, thus suggesting that CSR disclosures play a significant role in reducing information asymmetry and improving transparency around companies’ ESG activities. This finding meets the lenders’ expectations in terms of extrafinancial information and attracts debt financing sources.Research limitations/implicationsThe research is based only on the quantity of the ESG information disclosed by French companies and does not account for the quality of the CSR disclosures. The empirical model omits some control variables (e.g. the nature of the industry, the external business conditions and the age of the firm). The results should not be generalized, since the sample was based on large French companies for 2010–2015.Practical implicationsFrance is a highly regulated context that places considerable pressure on French firms in terms of CSR policies. The French Parliament has adopted several laws requiring transparency in the environmental, social, and corporate governance policies of French firms. In this context, firms often regard CSR policies as constraints rather than opportunities. This study highlights the benefits that result from transparent CSR practices. More precisely, it provides evidence that the high disclosure of ESG information is a pull factor for credit providers.Originality/valueThis study extends the scope of previous studies by examining the value and relevance of CSR disclosures in financing decisions. More precisely, it focuses on the relatively little explored relationship between the extent of CSR disclosures and access to debt financing. This paper demonstrates how each category of CSR disclosure information (e.g. social, environmental and governance) affects access to debt financing. Moreover, this study focuses on the rather interesting empirical setting of France, which is characterized by its highly developed legal reforms in terms of CSR. Achieving a better understanding of the effects of ESG information is useful for corporate managers desiring to meet lenders’ expectations and attract debt financing sources.

Effect of Board Size and Duality on Corporate Social Responsibility: What has Improved in Corporate Governance in Asia?

The aim of this study is to examine the relationship between board size and CEO duality, and corporate social responsibility (CSR). A total of 91 public listed companies from Bursa Malaysia representing the sample of the current study were selected. Secondary data were used and sourced from annual report on the companies. Using descriptive statistics, the existence and the extent of CSR disclosure on Malaysian companies were ascertained. An analysis of the quantitative data was then made using the Partial Least Squares (PLS). The findings from this research show that the role of board size suggest a significant and positive relationship with CSR disclosure. On the other hand, CEO duality on CSR disclosure indicates a negative relationship. This research contributes to the existing literature in terms of the roles of board Size and CEO duality on CSR initiatives. Furthermore, It highlights the necessity of following the new trends in corporate governance field by investigating its mechanisms with the new trendsin financial Industry from Islamic perspective as this might be positively added to the field of corporate governance due to the high significant role for these two fields.

The effect of corporate governance practices on corporate social responsibility disclosure

PurposeThe purpose of this study is to empirically examine the deeply rooted relationships between corporate governance (CG) and corporate social responsibility (CSR) disclosure as two complementary mechanisms used by companies to reinforce the link with stakeholders and whether the extent of CSR disclosures made by Palestinian non-financial-listed companies during the period from 2013 to 2016 is associated with CG practices.Design/methodology/approachContent analysis technique was used to extract and measure CSR information from annual reports of 33 companies listed on the Palestine Stock Exchange (PEX). Therefore, CSR disclosure index was constructed using 32 items divided into four categories as a measure of the extent of CSR disclosure in the firm’s annual reports. OLS regression was performed to test the association between CG and the extent of CSR disclosure in this longitudinal study.FindingsPanel data reveal that the level of CSR reporting has slightly increased over the study period. Further, the results also show that the level of CSR disclosure is positively and significantly affected by board size and independence, while gender diversity has a positive but statistically insignificant influence. Additionally, CEO duality is negatively and significantly correlated with CSR disclosures.Research limitations/implicationsThe study designs are limited to the Palestinian non-financial-listed firms. Furthermore, the generalisation of the findings might be restricted solely to the listed companies working in similar socioeconomic status.Practical implicationsThe findings of this study can draw policy-makers’ attention in developing countries, particularly in the Arab world, to meet the increasing need for updating the regulatory and institutional framework in the vein of CG reform and the related regulatory policies to promote the efficiency of CSR practices.Social implicationsMore efforts should be made to strengthen the awareness of the Palestinian listed companies of the advantages of CSR reporting on social reality. Thus, from a management perspective, companies have to take equally into account the financial and social outcomes of CSR activities.Originality/valueEmpirical evidence on the nexus between CG and CSR disclosure from countries affected by socio-political instability is extremely limited. This study bridges this research gap and contributes theoretically and practically to the CSR literature by providing empirical evidence from a developing country with a unique business environment.

Corporate governance and corporate social responsibility disclosures in insurance companies

PurposeThe purpose of this study is to empirically examine the association between corporate governance and the extent of corporate social responsibility (CSR) disclosures in insurance companies, using archival data.Design/methodology/approachThe data set comprises 277 listed insurance company-years in Bangladesh for the period of 2008 to 2014. The authors have used a checklist to measure the extent of CSR disclosures. The checklist was developed based on the previous CSR literature. The study uses a multiple regression analysis technique to investigate the association between different governance variables, particularly managerial ownership, institutional ownership, board independence and the proportion of female directors, and the extent of CSR disclosures in Bangladeshi insurance companies.FindingsThe authors find that board independence and the proportion of female directors have positive associations with the extent of CSR disclosures. However, the results indicate that managerial ownership is negatively associated with the extent of CSR disclosures.Originality/valueUnlike most of the prior research that explored CSR disclosures in non-financial companies, the authors focus on financial companies, namely, insurance businesses. The authors provide empirical evidence using archival data that suggests that some governance mechanisms are important determinants of CSR disclosures in the insurance industry.

Corporate Social Responsibility Disclosure in Italy: An Analysis of the Last Years

Corporate Social Responsibility Disclosure (CSRD) is the process of communicating the social, ethical and environmental effects of organizations’ economic actions. It is a formal commitment to inform and involve stakeholders with an adequate flow of communication through suitable channels, focusing on relevant content. The aim is to study voluntary disclosure implemented by Italian listed companies in the last 9 years (2008-2016). The empirical survey covers data and information on 165 companies. We have analysed: 1) the extent of CSRD in Italy; 2) the characteristics of voluntary disclosure in terms of type of report published and guidelines or standards followed; 3) the main differences between the industrial sectors about the publication of non-financial reports and the types of report used. Our findings show a significant improvement in the practice of voluntary disclosure of Italian listed companies and a key role of industry in decisions regarding the quantity and quality of non-financial disclosure. The value of this research concern in the wide (in time, through the last nine years, and in space, through the different industries) point of view through which is investigated the phenomenon of CSRD in Italy before the shift from a voluntary to a legislative perspective.

EFEITO DO SISTEMA FINANCEIRO NA EVIDENCIAÇÃO SOCIOAMBIENTAL DE EMPRESAS EM PAÍSES EMERGENTES E DESENVOLVIDOS

O estudo avalia a influência do sistema financeiro da Austrália, do Brasil, do Canadá e da Índia sobre a extensão da divulgação de informações de responsabilidade social corporativa (RSC) de empresas de setores ambientalmente sensíveis. Para esse fim, foram selecionadas empresas dos setores de utilidade pública, materiais básicos e de operações de petróleo e gás, da Austrália, do Brasil, do Canadá e da Índia, presentes na lista da Forbes 2000 do ano de 2008. O período analisado compreendeu os anos de 2007 a 2014. A variável dependente de pesquisa é a extensão da divulgação de informações de RSC, divididas em três dimensões: ambiental, social e total. As variáveis independentes utilizadas relacionam-se com o sistema financeiro, além de variáveis de controle relativas às características das empresas (tamanho e adoção das diretrizes da GRI). Essas variáveis tiveram como fonte os bancos de dados do World Bank, do World Economic Forum, das bolsas de valores da Austrália, do Brasil, do Canadá e da Índia, além das informações existentes nos relatórios anuais e de sustentabilidade. A análise é feita por meio de estatísticas descritivas, ANOVA e regressão linear. Os resultados apontam que a extensão da divulgação de RSC se relaciona positivamente com as características do sistema financeiro. O trabalho conclui que os gestores devem dar atenção à influência das características das estruturas institucionais que moldam o Sistema Nacional de Negócios ao estabelecerem suas estratégias relacionadas à RSC.

Corporate social responsibility and corporate governance in Indonesian public listed companies

This study aims to investigate whether theree has been a change in the level of corporate social responsibility (CSR) disclosure and to examine whether corporate governance attributes influence CSR disclosure in corporate annual report of Indonesian public listed companies(PLCs). The annual reports of 115 PLC for two years (2011 and 2012) were analysed using content analysis. Multiple regression analysis was utilized to determine factors influencing CSR disclosure in annual reports. Consistent with expectations, the paired sample t-test showed that there was an increase (significant at the 1 percent level) in the extent of CSR disclosure. The multiple regression analysis revealed that audit committee effectiveness and company’s size were positively associated with the extent of CSR disclosure (significant at 5 per cent level). The findings appear to suggest that The Indonesian Capital Market and Financial Institutions Supervisory Agency (Bapepam LK) effforts in promoting CSR through the release of Regulation No X.K.6 in 2012 have had some positive impact on CSR disclosure in annual report. The results also suggest that the involvement of audit committee through its effectiveness in overseeing company’s financial reporting could lead to better concern in corporate social activities and hence disclosure in annual reports. This study however, has limitation that should be considered in interpreting the results. The regression model documented an R2 of 21.4 percent, which indicates that almost 80 percent of factors influencing CSR disclosure in Indonesian PLC have not been captured by the model. These other factors may perhaps be indentified in the next research.

A model for gauging the prominence of web-based CSR disclosure

Purpose The purpose of this paper is to introduce a model to assess web-based corporate social responsibility (CSR) disclosure prominence and use this model to explore the prominence of CSR disclosures of listed New Zealand (NZ) companies. Design/methodology/approach A CSR Disclosure Prominence Indicator Model was constructed using five key elements that include the dissemination medium, accessibility, location, content variety and extent of CSR disclosures. The websites of 65 of the largest listed NZ companies from 11 industry groupings were explored through this model. Findings A significant proportion (81.5 per cent) of listed NZ companies in the sample were utilising their websites for communicating CSR information to stakeholders. The CSR Disclosure Prominence Indicator Model revealed that companies that have CSR-related disclosures on their websites used multiple dissemination media and locations to enhance prominence of such disclosures. CSR commentary on the webpage was the most prominent dissemination medium due to its ease of accessibility, with a separate CSR webpage being the most prominent location. Environmental performance and society-related issues received the most prominent emphasis. Although companies from “sensitive” industry sectors appeared to disclose their CSR information more prominently, those from “less sensitive” industries also attempted to make their CSR disclosure more prominent and noticeable through strategic placement and through the extent of disclosure. Research limitations/implications The paper highlights the importance of managing web-based CSR disclosure prominence, thereby highlighting its significance in communication of CSR information. Practical implications Prominently placed CSR disclosures could be a significant platform for companies to strategically manage their image and identity. The CSR Disclosure Prominence Indicator Model could be utilised by companies to effectively assess and manage the prominence of CSR disclosures on their websites for more effective communication with stakeholders. Originality/value The paper complements earlier studies on CSR disclosures by constructing and applying a model to assess the prominence of web-based CSR disclosures.

Firm ownership and board characteristics

Purpose – This paper aims to examine whether the extent and type of corporate social responsibility (CSR) disclosures made by Indian public listed companies are associated with firm ownership and board characteristics. Design/methodology/approach – Data analysis is based on the top 100 companies listed on the Bombay Stock Exchange (2007-2011) using a 17-item CSR disclosure measure. Findings – The extent of CSR disclosure is positively associated with foreign ownership, government ownership and board independence and negatively associated with CEO duality. Promoter ownership has a negligible effect on the extent of CSR disclosure. In terms of the type of CSR disclosure, community information increases with government ownership and board independence, while environmental information expands with foreign ownership and board independence. Information on employees/human resources has a positive association with foreign ownership but decreases with CEO duality. The amount of product and services information increases with promoter ownership, foreign ownership and board independence and CEO duality. Practical implications – Given the positive impact independent directors have on the extent of CSR disclosure, their role can be further strengthened in terms of overseeing quality of information disclosed. Stakeholders and regulators will need to develop greater awareness of firm CSR disclosure biases associated with ownership and more carefully scrutinize firm CSR activities that firms are “not” reporting on. Originality/value – Empirical evidence on the link between corporate governance and CSR disclosure from a developing nation context is limited. This paper provides much needed evidence in this area from India – one of the largest, rapidly developing economies in the world.