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Administrative Sciences
Special Issues
Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences
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Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences

A special issue of Administrative Sciences (ISSN 2076-3387).

Deadline for manuscript submissions: closed (31 May 2018) | Viewed by 52813

Special Issue Editors

Prof. Dr. Isabel-María Garcia‐Sanchez

E-Mail Website
Guest Editor
Departamento de Administración y Economía de la Empresa, Universidad de Salamanca, 37007 Salamanca, Spain
Interests: sustainability; SDG; circular economy; strategic investors; corporate governance; diversity; disclosure; assurance
Special Issues, Collections and Topics in MDPI journals
Dr. Jennifer Martínez-Ferrero

E-Mail Website
Guest Editor
Department of Administration and Business Economics, Universidad de Salamanca, Salamanca, Spain
Interests: earnings management; financial reporting; accounting; panel data; corporate governance; stakeholder management; managerial accounting; corporate social responsibility; sustainable development

Special Issue Information

Dear Colleagues,

A Special Issue will be prepared for Administrative Sciences that has, as a theme, corporate social responsibility disclosure and assurance consequences at economic, financial and market level. We invite papers that focus on understanding the consequences, not only of socially responsible disclosure—a voluntary strategy—but also of the external assurance process that achieves an increase on its credibility and reliability.

Over the last few years, there is an increasing trend to report socially-responsible performance via the voluntary disclosure of a sustainability report that assesses the three main components of environmental protection, economic growth, and social equity. This voluntary disclosure can be conceived as a viable mechanism through which firm-specific information improves its usefulness and accuracy that experiences new trend in the last few years. Nonetheless, the considerably-growing trend for sustainability reporting in recent decades has not been accompanied by an increase in information credibility and accuracy due to the sense of a lack of consistency and completeness of sustainability reports. In the context of this lack of credibility, stakeholders demand external assurance as a means of enhancing the degree of confidence in the outcomes of the evaluation of particular subject matter. Within a context in which sustainability information is certainly questionable or hardly credible, companies can voluntarily initiate a process of verification of this information. This Special Issue focuses specifically on the new trends of sustainability reporting, and particularly on the assurance demand and the economic, financial and market consequences of them (financial performance, profitability, cost of capital, information asymmetries, reputation, and so on).

Specifically, contributions may focus on, but are not limited to, issues and topics such as:

  • Corporate social disclosure, determinants and consequences
  • Corporate social disclosure and sustainability assurance: a new trend
  • New trends in sustainability reporting and assurance: the role of stakeholder
  • Sustainability assurance and economic, financial and market consequences

Contributions can be theoretical and/or empirical.

Dr. Isabel-María Garcia‐Sanchez
Dr. Jennifer Martínez-Ferrero
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a double-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Administrative Sciences is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

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Further information on MDPI's Special Issue polices can be found here.

Published Papers (8 papers)

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Editorial

Jump to: Research

6 pages, 194 KiB  
Editorial
Corporate Social Responsibility Performance, Disclosure and Assurance: Introduction to the Special Issue of Administrative Sciences
by Isabel-María García-Sánchez and Jennifer Martínez-Ferrero
Adm. Sci. 2018, 8(3), 54; https://doi.org/10.3390/admsci8030054 - 11 Sep 2018
Cited by 2 | Viewed by 3530
Abstract
n/a Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)

Research

Jump to: Editorial

33 pages, 7483 KiB  
Article
Study of the Importance of National Identity in the Development of Corporate Social Responsibility Practices: A Multivariate Vision
by Víctor Amor-Esteban, Mª-Purificación Galindo-Villardón and Fátima David
Adm. Sci. 2018, 8(3), 50; https://doi.org/10.3390/admsci8030050 - 28 Aug 2018
Cited by 17 | Viewed by 5665
Abstract
Corporate Social Responsibility (CSR) has the characteristic of being a truly global idea, and its global features could give rise to the assumption that national dynamics are secondary or even irrelevant. However, while CSR policies may be of a global nature, recent research [...] Read more.
Corporate Social Responsibility (CSR) has the characteristic of being a truly global idea, and its global features could give rise to the assumption that national dynamics are secondary or even irrelevant. However, while CSR policies may be of a global nature, recent research suggests that lasting national institutions and distinctive ideological traditions determine corporate decisions. In this study, we analysed the 2004–2014 decade from a panel data sample of 6600 observations from 600 large, internationally listed companies, and based on multivariate statistical methods, we contrasted the relevance of national identity in the sustainable behaviour of companies with the discovery of important national discrepancies, which corroborates that the country of origin of companies offers a series of facilities and barriers for the development of CSR practices. Companies, depending on different pressures and expectations, care about what is important in their own country. Thus, the corporations coming from Nordic countries—recognised as welfare states—are presented as the leaders in sustainable behaviour, highlighting in the social aspect the proper treatment of their employees and interest groups. They are followed a step below by companies whose country of origin is located in Southern Europe, which prioritise environmental reports. Organisations whose headquarters are centralized in North American countries are in a very delayed position, especially in environmental performance, giving greater preference to ethical issues. Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)
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23 pages, 1445 KiB  
Article
Culture, Board Composition and Corporate Social Reporting in the Banking Sector
by Emma García-Meca, María-Victoria Uribe-Bohórquez and Beatriz Cuadrado-Ballesteros
Adm. Sci. 2018, 8(3), 41; https://doi.org/10.3390/admsci8030041 - 31 Jul 2018
Cited by 26 | Viewed by 5957
Abstract
This paper contributes to the debate on the corporate governance of financial institutions, by studying the effect of different board characteristics on the level of corporate social responsibility (CSR) disclosures of banks. For that, we use a sample composed by 159 banks over [...] Read more.
This paper contributes to the debate on the corporate governance of financial institutions, by studying the effect of different board characteristics on the level of corporate social responsibility (CSR) disclosures of banks. For that, we use a sample composed by 159 banks over the period 2004–2010. We found that independent directors and gender diversity favor the disclosure CSR information in baking sector. But, these results are moderated by the national cultural system; concretely, previous positive effects of independence and diversity of banks’ boards on CSR reporting are reduced in countries with a weaker cultural system, that is, individualist, masculine and vertically stratified societies, that are little indulgent and short-term oriented and show high levels of uncertainty avoidance. Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)
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21 pages, 345 KiB  
Article
Board Independence and Corporate Social Responsibility Disclosure: The Mediating Role of the Presence of Family Ownership
by Shashank Bansal, Maria Victoria Lopez-Perez and Lazaro Rodriguez-Ariza
Adm. Sci. 2018, 8(3), 33; https://doi.org/10.3390/admsci8030033 - 5 Jul 2018
Cited by 46 | Viewed by 8123
Abstract
This paper examines the impact of board independence on corporate social responsibility (CSR) disclosure and analyses the moderating effect of the presence of family ownership. Using an international sample from 29 countries from 2006 to 2014, our panel Tobit estimation shows that board [...] Read more.
This paper examines the impact of board independence on corporate social responsibility (CSR) disclosure and analyses the moderating effect of the presence of family ownership. Using an international sample from 29 countries from 2006 to 2014, our panel Tobit estimation shows that board independence is negatively associated with CSR disclosure practices and they present opposition to CSR disclosure practices. However, family ownership moderates the relationship and enforces the positive orientation of independent directors towards CSR disclosure. This shows that the presence of family ownership reduces independent director concern of reputation risks associated with receiving misleading information and family firms decrease the asymmetries of information between the independent director and management. The study also finds that independent directors encourage CSR disclosure in family firms more in civil law countries where investor protection is low compared to common law countries where investor protection is high. Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)
12 pages, 259 KiB  
Article
Assurance on Corporate Governance Reports in Spain: Towards an Enhanced Accountability or a New Form of Public Relations?
by Elies Seguí-Mas, Helena-María Bollas-Araya and Fernando Polo-Garrido
Adm. Sci. 2018, 8(3), 32; https://doi.org/10.3390/admsci8030032 - 5 Jul 2018
Cited by 11 | Viewed by 5436
Abstract
Financial scandals have highlighted the need for greater corporate transparency. Thus, corporate governance has emerged as an instrument for corporations to fulfil their social responsibility by offering more reliable information to their stakeholders. In this sense, the corporate governance report has become one [...] Read more.
Financial scandals have highlighted the need for greater corporate transparency. Thus, corporate governance has emerged as an instrument for corporations to fulfil their social responsibility by offering more reliable information to their stakeholders. In this sense, the corporate governance report has become one of the leading mechanisms of business reporting to attend the growing need for reliable information by users. External and independent assurance of corporate governance reports is a tool to reduce potential risk derived from malpractices. However, within the Spanish context, there is a few number of listed companies who assure their corporate governance reports, and some of them have been shaken by corporate malpractices and financial scandals. This work tries to offer a critical appraisal of current corporate governance of assurance statements in Spain, developing a research strategy based on the case-study. Thus, by analysing assurance on corporate governance reports in three Spanish listed companies, we identify strengths and weaknesses of an unusual assurance process. Obviously, because of the recent scandals occurred in the analysed companies, we raise a particular concern about the potential managerial capture of this activity. Without real changes in governance mechanisms, the corporate governance assurance could amount to little more than a public relations activity. Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)
17 pages, 310 KiB  
Article
Empirical Analysis of Non-Financial Reporting by Spanish Companies
by Laura Sierra-Garcia, Maria Antonia Garcia-Benau and Helena Maria Bollas-Araya
Adm. Sci. 2018, 8(3), 29; https://doi.org/10.3390/admsci8030029 - 3 Jul 2018
Cited by 92 | Viewed by 12445
Abstract
Spain is one of the European countries that is the most strongly committed to the presentation of non-financial information. In 2017, Spain adapted its legislation to Directive 2014/95/EU through Royal Decree-Law 18/2017, which required Public Interest Entities (PIEs) to provide information in accordance [...] Read more.
Spain is one of the European countries that is the most strongly committed to the presentation of non-financial information. In 2017, Spain adapted its legislation to Directive 2014/95/EU through Royal Decree-Law 18/2017, which required Public Interest Entities (PIEs) to provide information in accordance with the requirements of the European Union (EU) Directive, with respect to financial years from 1 January 2017. Our research is focused on Spanish IBEX-351 listed companies and seeks to identify current trends in non-financial reporting. To our knowledge, the present paper is the first study to examine the impact made in Spain by the legislative changes. Our aim is to analyse the publication of non-financial information by Spanish listed companies whose first reports in this regard were made from early 2018. Specifically, we consider the impact of this information disclosure, determining whether the companies in question restrict themselves to meeting regulatory requirements or whether they go further and voluntarily supply additional information. Our findings show that the level of regulatory compliance produced is associated with the business sector in which the company operates. We also show that the highest rates of disclosure of non-financial information correspond to companies that provide this information in the sustainability report. Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)
27 pages, 435 KiB  
Article
A Provider’s Approach to the Assurance Market of Sustainability Reports in Spain
by Natalia Vaz Ogando, Silvia Ruiz Blanco and Belen Fernandez-Feijoo
Adm. Sci. 2018, 8(3), 28; https://doi.org/10.3390/admsci8030028 - 29 Jun 2018
Cited by 8 | Viewed by 4781
Abstract
The assurance of sustainability reports faces significant challenges that arise from the characteristics of sustainability information and the regulatory context in which it is developed. This recently growing service has favoured the creation of a rapidly evolving market, a complex professional field in [...] Read more.
The assurance of sustainability reports faces significant challenges that arise from the characteristics of sustainability information and the regulatory context in which it is developed. This recently growing service has favoured the creation of a rapidly evolving market, a complex professional field in its early stages of development and study. The aim of this paper is to analyse whether the use of international standards or the profile of the provider performing the service affects assurance process and quality. To this end, we applied a novel methodology for this field: a survey through written questionnaires. The use of a primary information source allows us to gain insight into the topic, beyond other visible aspects often used in previous literature (e.g., assurance statement contents). We tested our hypotheses on a sample of Spanish accounting and consulting firms. Our results show that neither the use of international standards nor the provider’s professional background has any effect on assurance process and assurance quality. However, the way the professional perceives the developed service does have an impact on quality. Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)
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17 pages, 376 KiB  
Article
The Influence of the Characteristics of the National Business System in the Disclosure of Gender-Related Corporate Social Responsibility Practices
by Marcelle Colares Oliveira, Manuel Salgueiro Rodrigues Júnior, Sérgio Henrique De Oliveira Lima and George Alberto De Freitas
Adm. Sci. 2018, 8(2), 14; https://doi.org/10.3390/admsci8020014 - 17 Apr 2018
Cited by 12 | Viewed by 5530
Abstract
We analysed the influence of the characteristics of national business systems on the disclosure of gender-related corporate social responsibility practices by 150 companies in Latin America that signed the Declaration of Support for Women’s Empowerment Principles. The highest level of disclosure was related [...] Read more.
We analysed the influence of the characteristics of national business systems on the disclosure of gender-related corporate social responsibility practices by 150 companies in Latin America that signed the Declaration of Support for Women’s Empowerment Principles. The highest level of disclosure was related to the establishment of high-level corporate leadership for gender equality. Results show that the country’s level of “concentration of power” and “individualism”, and the “orientation towards femininity” have a negative influence on the disclosure of gender-related practices; in addition, the country’s level of “economic development” and the “pressure of unions” exert a positive influence. The results highlight the important role that some national and local institutions play in the women’s empowerment, leading companies to report information on adopted practices. The study innovates and contributes by introducing the explanation of gender-related social disclosure with the national business system approach in Latin America. Full article
(This article belongs to the Special Issue Corporate Social Responsibility Disclosure and Assurance: Economic and Financial Consequences)
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