Articlehybrid2010

Determinants of voluntary CSR disclosure: empirical evidence from Germany

Ramin Gamerschlag · Klaus Möller · Frank H. M. Verbeeten

925 citations0/0 files storedReview of Managerial Science

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Corporate Social Responsibility Reporting Auditing, Earnings Management, Governance Corporate Governance and Financial Management

Abstract

Currently, companies spend a great deal of effort on Corporate Social Responsibility (CSR) disclosures. CSR disclosure relates to the provision of information on companies’ environmental and social performance. From an economic perspective, companies might disclose this information to avoid or decrease potential political costs. We construct a CSR disclosure index based on the Global Reporting Initiative (GRI) guidelines. Using content analysis, we analyze 130 listed German companies’ CSR disclosures (470 firm-year observations) to investigate the determinants of these voluntary disclosure activities. Our results show that, consistent with the political cost theory, German companies’ disclosures of all CSR issues are affected by their visibility, shareholder structure, and relationship with their US stakeholders. In addition, higher profitability is associated with more environmental disclosures. Finally, size and industry membership affect the amount of CSR disclosure.

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References

1984Content Analysis: An Introduction to its Methodology.2010Strategic management a stakeholder approach 1983Separation of Ownership and Control 2007The Social Responsibility of Business Is to Increase Its Profits 1997Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 1991The New Institutionalism in Organizational Analysis 2001Corporate Social Responsibility: A Theory of the Firm Perspective

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2017Determinants of Corporate Social Responsibility (CSR) Disclosure in Developed and Developing Countries: A Literature Review 2017Diversity of Board of Directors and Environmental Social Governance: Evidence from Italian Listed Companies 2018Board structure and environmental, social, and governance disclosure in Latin America 2013Organizing Corporate Social Responsibility in Small and Large Firms: Size Matters 2013Effect of Stakeholders’ Pressure on Transparency of Sustainability Reports within the GRI Framework

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