An institutional theory perspective on non-financial reporting

Lina Dagilienė · Rūta Nedzinskienė

37 citations0/0 files storedJournal of financial reporting & accounting

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

Abstract

Purpose The paper aims to explore the impact of institutional factors on non-financial reporting in the Baltic countries. The vast majority of research in the scientific literature references practices of sustainable disclosures in developed countries with a focus on legal factors and their effect on corporate reporting. Meanwhile, there is a lack of in-depth empirical data for identifying correlations between institutional (mandatory, normative and company-specific) factors and non-financial reporting in developing countries. Design/methodology/approach The theoretical framework of neo-institutional theory was applied to explore how the external environment affects practices of non-financial reporting in developing countries. The approach used in the paper is quantitative. Findings The research results reveal that if companies are likely to disclose voluntarily one of non-economic aspects in their reports, they are also likely to disclose more about the other non-economic issues. However, no significant correlations were detected between the disclosure of voluntary (non-economic) and mandatory (economic) aspects. Mandatory factors promote both – economic and non-economic reporting – while normative and company-specific factors promote non-economic reporting more. Practical implications The authors contribute to the foreign investors and practitioners by helping to better understand corporate non-financial reporting practices in post-communistic countries. Originality/value The research adds to the growing body of research on non-financial reporting practices with particular reference to the developing Baltic context. This study also contributes to scientific literature by exploring the impact of different institutional factors to non-financial reporting in developing countries.

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References

2004The iron cage revisited institutional isomorphism and collective rationality in organizational fields 2008The qualitative content analysis process 2002Introduction 1995Corporate social and environmental reporting 2012What drives corporate social performance? The role of nation-level institutions 2011Scrutiny, Norms, and Selective Disclosure: A Global Study of Greenwashing 2008Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms 1998The public disclosure of environmental performance information—a dual test of media agenda setting theory and legitimacy theory

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