Corporate social responsibility and financial disclosures: An alternative explanation for increased disclosure

Journal of Business Ethics

Volumn 33, Issue 1, 2001, Pages 1-13

  Gelb, David S ^a   Strawser, Joyce A ^a  

^a SETON HALL UNIVERSITY   (United States)

Author keywords

Corporate social responsibility; Disclosure quality; Discretionary disclosures; Financial disclosures; Socially responsible; Stakeholder management

Indexed keywords

EID: 0035457240     PISSN: 01674544     EISSN: None     Source Type: Journal    
DOI: 10.1023/A:1011941212444     Document Type: Article

References (31)

1. Agle, B. R., R. K. Mitchell and J. A. Sonnenfeld: 1999, 'Who Matters to CEOs? An Investigation of Stakeholder Attributes and Salience, Corporate Performance, and CEO Values', Academy of Management Journal 42(5), 307-525.
2. American Institute of Certified Public Accountants (AICPA): 1994, Improving Business Reporting - A Customer Focus: A Comprehensive Report of the Special Committee on Financial Reporting (AICPA, New York, NY).
3. Amihud, Y. and H. Mendelson: 1986, 'Asset Pricing and the Bid-Ask Spread', Journal of Financial Economics 17(2), 223-249.
4. Benston, G. J.: 1986, 'The Benefits and Costs to Managers of Voluntary Accounting Disclosure', Contemporary Accounting Research 3(1), 35-44.
5. Berman, S. L., A. C. Wicks, S. Kotha and T. M. Jones: 1999, 'Does Stakeholder Orientation Matter? The Relationship Between Stakeholder Management Models and Firm Financial Performance', Academy of Management Journal 42(5), 488-506.
6. Botosan, C. A.: 1997, 'Disclosure Level and the Cost of Equity Capital', The Accounting Review 72(3), 323-350.
7. Diamond, D. W.: 1985, 'Optimal Release of Information by the Firm', Journal of Finance 40(4), 1071-1094.
8. Donaldson, T. and L. E. Preston: 1995, 'The Stakeholder Theory of the Corporation: Concepts, Evidence and Implications', Academy of Management Review 20(1), 65-91.
9. Dye, R. A.: 1985, 'Disclosure of Nonproprietary Information', Journal of Accounting Research 23(1), 123-145.
10. Fishman, M. J. and K. M. Hagerty: 1989, 'Disclosure Decisions by Firms and the Competition for Price Efficiency', Journal of Finance 44(3), 633-646.
11. Frankel, R., M. McNichols and G. P. Wilson: 1995, 'Discretionary Disclosure and External Financing', The Accounting Review 70(1), 135-150.
12. Freedman, M. and B. Jaggi: 1982, 'Pollution Disclosures, Pollution Performance and Economic Performance', The International Journal of Management Science 10(2), 167-176.
13. Freeman, R. E.: 1984, Strategic Management: A Strategic Approach (Pitman, Boston, MA).
14. Friedman, M.: 1962, Capitalism and Freedom (University of Chicago Press, Chicago, IL).
15. Friedman, M.: 1970, 'The Social Responsibility of Business is to Increase its Profits', New York Times Magazine (September 13), 32-33, 122, 126.
16. Glosten, L. R. and P. R. Milgrom: 1985, 'Bid, Ask and Transaction Prices in a Specialist Market with Heterogeneously Informed Traders', Journal of Financial Economics 14(1), 71-100.
17. Johnson, R. A. and D. W. Greening: 1999, 'The Effects of Corporate Governance and Institutional Ownership Types on Corporate Social Performance', Academy of Management Journal 42(5), 564-576.
18. Lang, M. and R. Luridholm: 1993, 'Cross-Sectional Determinants of Analyst Ratings of Corporate Disclosures', Journal of Accounting Research 31(2), 246-271.
19. Logsdon, J. M. and K. Yuthas: 1997, 'Corporate Social Performance, Stakeholder Orientation, and Organizational Moral Development', Journal of Business Ethics 16(12/13), 1213-1226.
20. Maignan, I., O. C. Ferrell and G. T. M. Hult: 1999, 'Corporate Citizenship: Cultural Antecedents and Business Benefits', Journal of the Academy of Marketing Science 27(4), 455-469.
21. Mitchell, R. K., B. R. Agle and D. J. Wood: 1997, 'Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts', Academy of Management Review 22(4), 853-886.
22. Ogden, S. and R. Watson: 1999, 'Corporate Performance and Stakeholder Management: Balancing Shareholder and Customer Interests in the U.K. Privatized Water Industry', Academy of Management Journal 42(5), 526-538.
23. Pava, M. L. and J. Krausz: 1996, 'The Association Between Corporate Social-Responsibility and Financial Performance: The Paradox of Social Cost', Journal of Business Ethics 15(3), 321-357.
24. Pava, M. L. and J. Krausz: 1997, 'Criteria for Evaluating the Legitimacy of Corporate Social Responsibility', Journal of Business Ethics 16(3), 337-347.
25. Roberts, R. W.: 1992, 'Determinants of Corporate Social Responsibility Disclosure: An Application of Stakeholder Theory', Accounting, Organizations and Society 17(6), 595-612.
26. Sengupta, P: 1998, 'Corporate Disclosure Quality and the Cost of Debt', The Accounting Review 73(4), 459-474.
27. Shane, P. and B. Spicer: 1983, 'Market Response to Environmental Information Produced Outside the Firm', The Accounting Review 58(3), 521-538.
28. Skinner, D.: 1994, 'Why Firms Voluntarily Disclose Bad News', Journal of Accounting Research 32(1), 38-60.
29. Verrecchia, R.: 1983, 'Discretionary Disclosure', Journal of Accounting & Economics 5(3), 179-194.
30. Welker, M.: 1995, 'Disclosure Policy, Information Asymmetry and Liquidity in Equity Markets', Contemporary Accounting Research 11(2), 801-827.
31. White, H.: 1980, 'A Heteroskedasticity-consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity', Econometrics 48, 817-838.