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Sustainability 2018, 10(8), 2823;

Does Institutional Context Affect CSR Disclosure? A Study on Eurostoxx 50

University of Rome, Sapienza, 00185 Roma, Italy
Author to whom correspondence should be addressed.
Received: 31 May 2018 / Revised: 19 July 2018 / Accepted: 20 July 2018 / Published: 9 August 2018
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We propose to investigate the relationship between corporate social responsibility disclosure and institutional/environmental factors among a sample of European listed companies. We find that, by using several traditional explicative variables, institutional factors affect the level of CSR disclosure, in a context where the EU Commission has been paying growing attention to social and environmental accountability of listed companies (see the EU Dir. 95/2014). Our findings are further supported by multivariate regression, where ESG score (measure of CSR disclosure) is regressed on nine variables which represent the expression of institutional factors. By looking at the institutional determinants of CSR disclosure, we are seeking to pose a challenge for future research agenda, in order to understand whether CSR does actually reflect an effective commitment of firms to accounting practices and rules, as a form of social behavior, or whether it is just a tool to manage stakeholders’ perception and to comply with regulation. View Full-Text
Keywords: CSR disclosure; institutional context; accounting CSR disclosure; institutional context; accounting
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

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Coluccia, D.; Fontana, S.; Solimene, S. Does Institutional Context Affect CSR Disclosure? A Study on Eurostoxx 50. Sustainability 2018, 10, 2823.

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