Corporate Social Responsibility: Exploring Stakeholder Relationships and Programme Reporting across Leading FTSE Companies

Although it is now widely recognised by business leaders that their companies need to accept a broader responsibility than short-term profits, recent research suggests that as corporate social responsibility (CSR) and social reporting become more widespread, there is little empirical evidence of the range of stakeholders addressed through their CSR programmes and how such programmes are reported. Through a CSR framework which was developed in an exploratory study, we explore the nature of stakeholder relationships reported across leading FTSE companies and the importance they attach to communicating both social and business outcomes. It is evident from the hypotheses tested that the bigger FTSE companies, particularly extraction companies and telecoms, are more adept at identifying and prioritising their stakeholders, and linking CSR programmes to business and social outcomes. However, we draw the general conclusion that building stronger stakeholder relationships through CSR programmes – other than with customers – is not currently a priority for most companies. We also conclude that a limited sophistication in managing multiple stakeholders may compromise the impact of CSR upon business and social results. Finally, the managerial implications and the contribution of our study are discussed before closing with an acknowledgement of the limitations of this work and suggestions for further research.     

企业社会责任报告与会计信息质量——基于深市上市公司的实证研究

本文以2007-2009年深市A股上市公司为样本,以发布独立社会责任报告表明企业具有相对较强的社会责任感为内在假设,检验其社会责任报告的发布是否与会计准则的遵循即高质量的会计信息相关联。结果发现独立社会责任报告的发布与信息的透明度正相关,但与信息的价值相关性和可靠性没有显著联系。可见企业应切实履行基本的社会责任,提供高质量的会计信息满足利益相关者的需要,监管机构也应尽快通过立法来规范对社会责任报告的审计。     

社会责任履行与企业信誉资本生成——基于问卷调查的实证分析

信誉是企业利益相关者对企业的一种综合评价,社会责任影响利益相关者行为,因此对企业信誉可能产生积极的影响.通过问卷调查的实证分析,发现顾客责任、环境责任和慈善责任对企业信誉有显著的正向影响,而政府责任和员工责任对企业信誉影响不明显.     

Moral Discourse and Corporate Social Responsibility Reporting

This paper examines voluntary corporate social responsibility (CSR) reporting as a form of moral discourse. It explores how alternative stakeholder perspectives lead to differing perceptions of the process and content of responsible reporting. We contrast traditional stakeholder theory, which views stakeholders as external parties having a social contract with corporations, with an emerging perspective, which views interaction among corporations and constituents as relational in nature. This moves the stakeholder from an external entity to one that is integral to corporate activity. We explore how these alternative stakeholder perspectives give rise to different normative demands for stakeholder engagement, managerial processes, and communication. We discuss models of CSR reporting and accountability: EMAS, the ISO 14000 series, SA8000, AA1000, the Global Reporting Initiative, and the Copenhagen Charter. We explore how these models relate to the stakeholder philosophies and find that they are largely consistent with the traditional atomistic view but fall far short of the demands for moral engagement prescribed by a relational stakeholder perspective. Adopting a relational view requires stakeholder engagement not only in prescribing reporting requirements, but also in discourse relating to core aspects of the corporation such as mission, values, and management systems. Habermas’ theory of communicative action provides guidelines for engaging stakeholders in this moral discourse. MaryAnn Reynolds is an Associate Professor of Accounting in the College of Business and Economics at Western Washington University. Dr. Reynolds teaches intermediate financial accounting and is published in the areas of corporate social, environmental and ethical reporting. Kristi Yuthas is the Swigert Endowed Information Systems Professor in the School of Business Administration at Portland State University. Dr. Yuthas teaches accounting and information systems and is published in the areas of social and ethical impacts of management information systems.     

Social Reporting as an Organisational Learning Tool? A Theoretical Framework

Social reporting has become an increasingly important dimension of the corporate social responsibility process. The growing necessity to include the social dimension in reporting practices raises important questions about the nature of social responsibility and its impact on corporate and individual behaviour and performance. The literature has yet to provide a reliable theoretical definition of corporate social responsibility and performance, however. Based on the approach proposed by Simons, we argue that organisational reporting about social responsibility can be viewed as a learning tool in some instances. Under this view the design and implementation of corporate social reporting procedures may lead to individual and organisational dynamic changes that foster organisational performance. Research propositions are then derived from the analysis.     

民营上市公司的治理机制及治理效应分析

通过对民营上市公司常用的治理机制及治理效应的分析,我们发现:民营上市公司的各种治理机制无论对净资产收益率还是财务综合绩效,都没有太大的解释力,但对托宾Q值却具有极强的解释能力。即使是就托宾Q值而言,股东会议、独立董事规模、两职设置、高管人员薪酬等内部治理机制也没有发挥显著的作用,内部治理机制中的第一大股东具有特别重要的作用。     

Corporate Social Reporting in the European Context and Human Resource Disclosures: An Analysis of Finnish Companies

This paper explores by means of content analysis the extent to which the Finnish biggest companies have adapted socially responsible reporting practices. The research focuses on Human Resource (HR) reporting and covers corporate annual reports. The criteria has been set on the basis of the analysis of the documents published at the European level in the context of corporate social responsibility (CSR), paying special attention to the European Council appeal on CSR in March 2000. As CSR is a relatively new concept in Finland, the paper also contributes to the discussion on interface between HR reporting (especially as based on measurements such as Human Resource Accounting and Intellectual Capital schools) and corporate social reporting practices. The results of the content analysis indicate that social reporting practices are still at an early stage of development in Finland. The most reported theme was ‘training and staff development’. A positive sign was that the majority also disclosed themes ‘participation and staff involvement’ and ‘employee health and well-being’. Furthermore, nearly one-third made references to their work atmosphere or job satisfaction survey. However, disclosures lacked overall consistency and comparability with each other and especially quantitative indicators were disclosed by few. Further concern was lack of information related to the theme equal opportunities and going beyond a sheer disclosure of age or gender structure. The other issues rarely disclosed were those related to employee work–life balance and integration of disadvantaged groups in the labour markets.     

Business and Social Reputation: Exploring the Concept and Main Dimensions of Corporate Reputation

Different theoretical approaches highlight the growing relevance of corporate reputation as strategic factor. Among these approaches the arguments of the Resource-Based View are special worthwhile (Grant, 1991, California Management Review 33(3), 114–135; Barney, 1999, Sloan Management Review Spring, 137–145). Nevertheless, this topic poses several methodological problems (Barney et al., 2001), as the unavailability to identify and measure this organizational factor, that is “socially complex” and intangible in its nature. In this work, using the findings of our empirical research on Spanish biotechnology firms, we carry out an identification and measurement of corporate reputation, highlighting its two key components: “business reputation” and “social reputation”. Dr. Gregorio Martín de Castro is Assistant Professor at the Business Administration Department in Universidad Complutense de Madrid (Spain). He has several years of research experience at CIC Spanish Knowledge Society Research Centre, he holds an Expert Diploma in Intellectual Capital and Knowledge Management from INSEAD (France), and he was a Post-Doctoral Research Fellow at Harvard University during 2004–2005. He is author and co-author of several papers concerning Resource-Based View, Intellectual Capital and Knowledge Management. Dr. José Emilio Navas López is Professor and Head of the Business Administration Department in Universidad Complutense de Madrid (Spain). He is author and co-author of several books and papers concerning Technology Management, Strategy and Knowledge Management. He has held the first Knowledge Management Chair in Spain at I.U. Euroforum Escorial. Dr. Pedro López Sáez is Assistant Professor at the Business Administration Department in Universidad Complutense de Madrid (Spain) and he was a Research Fellow at Harvard University during 2004–2005. He has several years of research experience at CIC Spanish Knowledge Society Research Centre and he is author and co-author of several papers concerning Resource-Based View, Intellectual Capital and Knowledge Management.     

The Social and Environmental Responsibilities of Multinationals: Evidence from the Brent Spar Case

This paper argues that multinational corporations face levels of environmental and social responsibility higher than their national counterparts. Drawing on the literatures of stakeholder salience, corporate reputation management, and evidence from the confrontation between Shell and Greenpeace over the Brent Spar, in 1995, two mechanisms – international reputation side effects, and foreign stakeholder salience – are identified and their contribution in creating an environment more restrictive, in terms of environmental and social responsibility, is elaborated on. The paper concludes with discussing the links of the work presented here with a number of ongoing debates within the filed of international business ethics, and the managerial implications of the two mechanisms identified.     

企业社会责任与财务绩效关系研究综述

20世纪90年代起,企业社会责任与利益相关者在理论与实证检验方面呈现出相互整合的趋势。本文通过探析企业社会责任与利益相关者缘何走向理论结合,分别基于利益相关者整体视角与利益相关者分维度视角,对国内外企业社会责任与财务绩效关系的实证研究进行回顾与总结,并在此基础上提出了未来的研究方向。     

对我国上市公司会计政策选择权问题的探寻

会计政策选择是从允许选用的会计原则和会计处理方法中选出适合企业实际情况的会计政策。我国上市公司在会计政策选择权上存在失衡及职业经理人市场不健全等问题,在一定程度上成为生成交易性会计政策选择乃至不可靠会计信息的温床。在契约理论之上发展而来的利益相关者理论能够更好地配置会计政策选择权,需要对其进行更深入地实证研究     

Gender Mainstreaming and Corporate Social Responsibility: Reporting Workplace Issues

This paper investigates the potential and actual contribution of corporate social responsibility (CSR) to gender equality in a framework of gender mainstreaming (GM). It introduces GM as combining technical systems (monitoring, reporting, evaluating) with political processes (women’s participation in decision-making) and considers the ways in which this is compatible with CSR agendas. It examines the inclusion of gender equality criteria within three related CSR tools: human capital management (HCM) reporting, CSR reporting guidelines, and socially responsible investment (SRI) criteria on employee and diversity issues. Although evidence is found of gender equality information being requested within several CSR related reporting frameworks, these requirements are mostly limited in scope, or remain optional elements. The nature and extent of relevant stakeholder opportunities are investigated to explain this unfulfilled potential.     

Approaching Socially Responsible Investment with a Comprehensive Ratings Scheme: Total Social Impact

The socially responsible investment industry (SRI) is slowly changing from a screening, avoidance paradigm to a comprehensive paradigm that seeks to affect corporate behavior. Credible rating systems are a key component of this sea change. Reliable and recognizable social and environmental metrics are critical to this progress. The Total Social Impact (TSI) rating approach is a new social metric scheme based on a comprehensive rating of stakeholder issues. This paper describes the evolution of SRI ratings and the role that TSI hopes to play in affecting business behavior by promoting principled business leadership.     

企业社会责任与企业财务绩效关联性分析——基于浙江纺织企业的调查数据

企业社会责任与企业财务绩效的关联性决定企业的社会责任态度和行为。通过对浙江纺织行业样本企业数据的计量分析发现,前期企业财务绩效和后期企业的社会责任状况显著正相关;而前期企业社会责任和后期企业财务绩效之间、同期企业社会责任和企业财务绩效之间呈负相关趋势,但统计不显著。出现这种结果的原因可能在于当前中国社会责任市场缺乏,企业社会责任行为的推动力是行政力量而非市场力量,企业社会责任不能顺利转化或提升企业绩效。构建社会责任市场以实现企业和社会的双赢,将有效改善中国企业社会责任状况并促使持久的企业社会责任行为。     

基于社会资本视角的公司治理研究

文章指出,传统的公司治理基于物质资本视角,提出了两权分离和委托—代理问题,形成了股东至上的公司治理观,其实质是支持资本雇佣劳动原则,采用股东单边治理模式,忽略了人力资本所有者与社会资本所有者等利益相关者的角色和诉求,忽略了公司核心能力的构建,不能适应知识经济与和谐社会建设的要求。本文认为,企业作为由物质资本、人力资本和社会资本所构成的一种特定契约,企业收益是三方合作的产物,三者共同拥有企业产权。因此,公司治理应由股东单边治理调整为利益相关者协同治理,公司治理目标也应从股东至上调整为公司核心能力最大化。而物质资本、人力资本和社会资本参与公司治理的方式和程度则是它们之间博弈的结果。     

Stakeholder Engagement: Beyond the Myth of Corporate Responsibility

The purpose of this article is to transcend the assumption that stakeholder engagement is necessarily a responsible practice. Stakeholder engagement is traditionally seen as corporate responsibility in action. Indeed, in some literatures there exists an assumption that the more an organisation engages with its stakeholders, the more it is responsible. This simple ‹more is better’ view of stakeholder engagement belies the true complexity of the relationship between engagement and corporate responsibility. Stakeholder engagement may be understood in a variety of different ways and from a variety of different theoretical perspectives. Stakeholder engagement may or may not involve a moral dimension and, hence, is primarily a morally neutral practice. It is therefore argued that stakeholder engagement must be seen as separate from, but related to, corporate responsibility. A model that reflects the multifaceted relationship between the two constructs is proposed. This model not only allows the coincidence of stakeholder engagement with corporate responsibility, but also allows for the development of the notion of corporate irresponsibility.

Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms

The aim of this paper is to analyze whether a number of firm and industry characteristics, as well as media exposure, are potential determinants of corporate social responsibility (CSR) disclosure practices by Spanish listed firms. Empirical studies have shown that CSR disclosure activism varies across companies, industries, and time (Gray et al., Accounting, Auditing & Accountability Journal 8(2), 47–77, 1995; Journal of Business Finance & Accounting 28(3/4), 327–356, 2001; Hackston and Milne, Accounting, Auditing & Accountability Journal 9(1), 77–108, 1996; Cormier and Magnan, Journal of International Financial Management and Accounting 1(2), 171–195, 2003; Cormier et al., European Accounting Review 14(1), 3–39, 2005), which is usually justified by reference to several theoretical constructs, such as the legitimacy, stakeholder, and agency theories. Our findings evidence that firms with higher CSR ratings present a statistically significant larger size and a higher media exposure, and belong to more environmentally sensitive industries, as compared to firms with lower CSR ratings. However, neither profitability nor leverage seem to explain differences in CSR disclosure practices between Spanish listed firms. The most influential variable for explaining firms’ variation in CSR ratings is media exposure, followed by size and industry. Therefore, it seems that the legitimacy theory, as captured by those variables related to public or social visibility, is the most relevant theory for explaining CSR disclosure practices of Spanish listed firms.     

长三角地区石化塑胶行业上市公司环境绩效信息披露研究——基于社会责任报告

在长三角地区石化塑胶行业76家上市公司中,搜集到17家公司2008-2010年度社会责任报告40份,总披露率22.37%。对社会责任报告中环境绩效信息采用内容分析法进一步研究发现,时序看环境绩效信息披露形式和内容方面均显示数量和质量的提高,但地区间、市场间和公司间差异显著,30项环境绩效指标中每份报告平均披露仅9.1项,定量环境绩效指标披露率仅为15.83%,样本公司的环境绩效信息披露数量和质量尚有很大提升空间。     

基于博弈分析的上市公司舞弊处罚问题探讨

在上市公司舞弊事件累禁不止的情况下,运用博弈分析方法,探讨注册会计师与上市公司舞弊审 计的监督博弈问题。结果表明,加大对注册会计师失察的处罚力度是防止上市公司舞弊的唯一可行办法。