Corporate social responsibility reporting in financial institutions: Evidence from Euronext |
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| Affiliation: | 1. IPAG Business School, IPAG Lab, Paris, France;2. University of Tunis, High Institute of Management (GEF-2A-Lab), Tunis, Tunisia;3. University of Tunis, High Institute of Management (ISG), Department of Quantitative Methods and Economics, Tunisia;1. Nordea Bank, Finland;2. School of Business Stockholm University, Sweden;3. Department of Accounting and Finance University of Vaasa, Finland;1. Institute of Socio-Economic Geography and Spatial Management, Adam Mickiewicz University, ul. B. Krygowskiego 10, 61-680 Poznań, Poland;2. Institute for International Marketing Management, Vienna University of Economics and Business, Welthandelsplatz 1, 1020 Vienna, Austria;3. Institute for Information Management and Control, Vienna University of Economics and Business, Welthandelsplatz 1, 1020 Vienna, Austria;4. Institute for Managing Sustainability, Vienna University of Economics and Business, Welthandelsplatz 1, 1020 Vienna, Austria;1. Accounting Deparment, University of Antioquia, Colombia;2. Accounting Deparment, University of Valencia, Spain;3. Accounting and Finance Deparment, Technical University of Cartagena, Spain;1. Centre for Environmental Policy and Strategic Environmental Management, Department of Environment, University of the Aegean, University Hill, Lesvos 81 100, Greece;2. Faculty of Social Sciences, Department of Geography, Open University, Walton Hall, Milton Keynes MK7 6AA, United Kingdom;3. Department of Agricultural Development, Democritus University of Thrace, Orestiada 68 200, Greece |
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| Abstract: | 
The legitimacy, the identity and the social impact of financial institutions go beyond the generation of revenues for providers of capital, through financial intermediation. Financial institutions bear significant corporate social responsibility (CSR). We produce measures of CSR disclosure and explore the determinants of CSR disclosure practices in a cross section of financial institutions. Working with financial companies whose stocks are listed in the Euronext stock exchange, we find that the extent of disclosure of CSR practices is greater in large companies and also in companies of greater financial leverage. Therefore, increased corporate visibility and financial risk increase stakeholder demand for transparency on the social impact of financial institutions and their CSR practices. |
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| Keywords: | Corporate social responsibility Web reporting Disclosure Euronext Financial institutions |
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