Article2018

Impact of corporate sustainability reporting on firm performance: an empirical examination in Asia

110 citations0/0 files storedJournal of Asia Business Studies

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Corporate Social Responsibility Reporting Environmental Sustainability in Business Corporate Governance and Financial Management

Abstract

Purpose The purpose of this paper is to analyse the impact of corporate sustainability reporting on firm performance in four Asian countries – Japan, South Korea, Indonesia and India – and to find out whether there is any significant difference between developed and developing countries of Asia with respect to the impact of such reporting on firm performance. Design/methodology/approach The study is based on 36 listed nonfinancial companies from Japan, 28 from India, 26 from South Korea and 21 from Indonesia respectively, from 2009 to 2014. Content analysis (binary −0 and 1) is used to calculate the disclosure score of sustainability performance, based on Global Reporting Initiative (GRI) format. The outcome of the content analysis is further used to examine the impact of corporate sustainability reporting on firm performance employing a logistic regression model. Findings The study finds that the average level of disclosure is more in the case of Japanese companies (90 per cent), followed by India (88 per cent) and South Korea (85 per cent). On the other hand, the average level of disclosure is only 72 per cent for Indonesian firms. Regression results depict a significant positive association between sustainability reporting and firm’s performance. The study further finds that the relative impact of sustainability reporting on firm performance is more in developed countries than in developing countries of Asia. Originality/value This is the first comprehensive study in Asian context to examine the impact of the level of corporate sustainability disclosure on the firm performance by using the logistic regression model. The outcome of this study would not only help the corporate managers but also the policymakers to make a valuable decision, which will eventually contribute to the objectives of sustainable development.

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References

1984Content Analysis: An Introduction to its Methodology.1984Corporate financing and investment decisions when firms have information that investors do not have 1995A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance 2007Strategy and society: the link between competitive advantage and corporate social responsibility 1997THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINK 1997A RESOURCE-BASED PERSPECTIVE ON CORPORATE ENVIRONMENTAL PERFORMANCE AND PROFITABILITY.1977The Determination of Financial Structure: The Incentive-Signalling Approach 1994Towards the Sustainable Corporation: Win-Win-Win Business Strategies for Sustainable Development

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