A Longitudinal Study of Corporate Social Disclosures in a Developing Economy |
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Authors: | J D Mahadeo V Oogarah-Hanuman T Soobaroyen |
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Institution: | (1) Department of Management, Faculty of Law and Management, University of Mauritius, Reduit, Mauritius;(2) Centre for Research in Accounting, Accountability and Governance, School of Management, Faculty of Business and Law, University of Southampton, Highfield, Southampton, SO17 1BJ, UK |
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Abstract: | This article examines corporate social disclosures (CSD) in an African developing economy (Mauritius) as provided in the annual
reports of listed companies from 2004 to 2007. Informed by the country’s social, political and economic context and legitimacy
theory, we hypothesise that the extent and variety of CSD themes (social, ethics, environment and health and safety) will
be enhanced post-2004 and will be influenced by profitability, size, leverage and industry affiliation. We find a significant
increase in the volume and variety of CSD, although information in relation to social activities remains the most prominent
form of disclosure. This is in contrast to previous studies which reported on the primacy of employee disclosures in developing
countries. Using a pooled regression analysis, we also observe that size does explain variations in overall CSD and social
disclosures, whilst leverage is positively related to changes in environmental and health and safety disclosures. There is
no profitability relationship, and the effects of industry affiliation on CSD are non-significant or contrary to expectations.
Overall, we assert that legitimacy, as a strategic and managerially driven approach favouring symbolic actions, is the prevailing
motivation underlying the progression of CSD in Mauritius. |
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