دانلود رایگان مقاله لاتین CSR و ارزش بازار: شرکت خانوادگی در مقابل شرکت غیر خانوادگی از سایت الزویر
عنوان فارسی مقاله:
افشای مسئولیت اجتماعی شرکت و ارزش بازار: شرکت های خانوادگی در مقابل شرکت های غیر خانوادگی
عنوان انگلیسی مقاله:
Corporate social responsibility disclosure and market value: Family versus nonfamily firms
سال انتشار : 2017
بخشی از مقاله انگلیسی:
2. Conceptual framework and hypothesis development
2.1. The challenges of CSR disclosure Awareness of CSR activities is a precondition of benefits related to CSR (Du, Bhattacharya, & Sen, 2010). Organizations are facing increasing pressure from stakeholders to engage in social responsibility and are expected to communicate their CSR efforts (Grougiou, Dedoulis, & Leventis, 2016; Perks, Farache, Shukla, & Berry, 2013). Firms communicate CSR-related information to stakeholders through a diverse range of channels. These include social, environmental, and sustainability annual reports, corporate websites, media releases, and CSR advertising (Perks et al., 2013). Among these channels, CSR reports have become the primary means used to address stakeholders' informational needs concerning firms' environmental and social performance (Gray, Bebbington, & Collison, 2006). CSR reporting is defined as the “process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to society at large” (Gray, Owen, & Adams, 1996, p. 3). The annual report may be used to reinforce the community's perceptions of the organization's responsiveness to specific CSR issues, or to divert attention from adverse situations (Deegan, 2002). The disclosures are selective, unveiling specific information that is expected to contribute to shaping the way stakeholders perceive the organization (Neu, Warsame, & Pedwell, 1998). Several studies show that there are doubts concerning the level of trustworthiness of CSR information that firms convey in their annual reports. The lack of standards for CSR reporting, particularly regarding the quantity and type of information disclosed in firms' annual reports to shareholders, make CSR disclosure practices highly diverse and incomparable (Cerin, 2002). The lack of consensus on what should be included (or excluded) in CSR investments leads to confusion in interpretation of the reports' contents (Margolis & Walsh, 2003). Further, CSR-related information reported by firms is generally positive and narrative or “self-laudatory” (Deegan & Gordon, 1996). Accordingly, CSR disclosures tend to avoid negative or potentially harmful information, and few incentives exist to disclose in areas where the firm has a poor track record (Cormier & Gordon, 2001; Aerts, Cormier, & Magnan, 2008). Many firms that engage in CSR reporting increase the volume of information and over-report CSR investments for impression management (Neu et al., 1998). CSR reporting represents a strategy to influence the public's perceptions of the company and to shape the way in which these stakeholders view the firm (Perks et al., 2013). Many companies view their CSR reporting as a public relations vehicle designed to build a good image and to achieve a solid reputation in the market (Gray et al., 1995). Firms may use CSR reporting to enhance stakeholders' perceptions of the appropriateness of their firm's pro-social and environmental actions (Guidry & Patten, 2010), and selectively disclose positive CSR actions, resulting in misleading and biased reporting (Mahoney, Thorne, Cecil, & LaGore, 2013). Prior CSR research has stressed that the huge variety of voluntary CSR disclosures casts doubt on the validity of the announced CSR investments. Some CSR scandals have negatively affected public opinion concerning firms and their CSR reporting, raising questions about the sincerity and trustworthiness of CSR disclosures (Du et al., 2010). Stakeholders have strong intuitive beliefs that firms spend more money and time on claiming to be responsible than on implementing CSR activities and practices that minimize the environmental and social impact of their operations (Panwar, Paul, Nybakk, Hansen, & Thompson, 2014). The voluntary nature of CSR reporting provides firms with the flexibility to manage information via selective disclosure of positive social and environmental actions.
کلمات کلیدی:
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