Voluntary corporate social responsibility reporting: A study of early and late reporter motivations and outcomes

Journal of Management Accounting Research

Volumn 28, Issue 2, 2016, Pages 77-101

  Bhimani, Alnoor ^a   Silvola, Hanna ^b   Sivabalan, Prabhu ^c  

^a LONDON SCHOOL OF ECONOMICS   (United Kingdom)

^b AALTO UNIVERSITY   (Finland)

^c UNIVERSITY OF TECHNOLOGY SYDNEY   (Australia)

Author keywords

Corporate responsibility reporting (CSR); CSR reporting; Voluntary CSR

Indexed keywords

EID: 84988384779     PISSN: 10492127     EISSN: 15588033     Source Type: Journal    
DOI: 10.2308/jmar-51440     Document Type: Article

References (114)

1. Adams, C. 2002. Internal organizational factors influencing social and ethical reporting: Beyond current theorizing. Accounting, Auditing & Accountability Journal 15 (2): 223-250.
2. Ahrens, T., and J. F. Dent. 1998. Accounting and organizations: Realizing the richness of field research. Journal of Management Accounting Research 10: 1-39.
3. Ali, A. 1994. Pioneering versus incremental innovation: Review and research propositions. Journal of Product Innovation Management,11 (1): 46-61.
4. Anderson, C. L., and R. L. Bieniaszewska. 2005. The role of corporate social responsibility in an oil company’s expansion into new territories. Corporate Social Responsibility and Environmental Management 12 (1): 1-9.
5. Ansari, S., P. Fiss, and E. Zajac. 2010. Made to fit: How practices vary as they diffuse. Academy of Management Review 35 (1): 67-92.
6. Aras, G., and D. Crowther. 2009. Corporate sustainability reporting: A study in disingenuity? Journal of Business Ethics Journal of Business Ethics (87): 1-279.
7. Arndt, J. 1967. Role of product-related conversations in the diffusion of a new product. Journal of Marketing Research 4 (3): 291-295.
8. Arya, B., and G. Zhang. 2009. Institutional reforms and investor reactions to CSR announcements: Evidence from an emerging economy. Journal of Management Studies 46 (7): 1089-1112.
9. Attig, N., S. El Ghoul, O. Guedhami, and J. Suh. 2013. Corporate social responsibility and credit ratings. Journal of Business Ethics 117 (4): 679-694.
10. Avetisyan, E., and M. Ferrary. 2013. Dynamics of stakeholders’ implications in the institutionalization of the CSR field in France and in the United States. Journal of Business Ethics 115 (1): 115-133.
11. Ballou, B., D. L. Heitger, C. E. Landes, and M. Adams. 2006. The future of corporate sustainability reporting. Journal of Accountancy 202 (6): 65.
12. Bansal, P., and I. Clelland. 2004. Talking trash: Legitimacy, impression management, and unsystematic risk in the context of the natural environment. Academy of Management Journal 47 (1): 93-103.
13. Bansal, P., and K. Roth. 2000. Why companies go green: A model of ecological responsiveness. Academy of Management Journal 43 (4): 717-736.
14. Barnett, W. P., M. Feng, and X. Luo. 2013. Social identity, market memory, and first-mover advantage. Industrial and Corporate Change 22 (3): 585-615.
15. Baumgartner, R. J., and D. Ebner. 2010. Corporate sustainability strategies: Sustainability profiles and maturity levels. Sustainable Development 18 (2): 76-89.
16. Bebbington, J., C. Higgins, and B. Frame. 2009. Initial sustainable development reporting: Evidence from New Zealand. Accounting, Auditing & Accountability Journal 15 (2): 588-625.
17. Bebbington, J., C. Larrinaga, and J. M. Moneva. 2008. Corporate social reporting and reputation risk management. Accounting, Auditing & Accountability Journal 21 (3): 337-361.
18. Becker-Olsen, K. L., B. A. Cudmore, and R. P. Hill. 2006. The impact of perceived corporate social responsibility on consumer behavior. Journal of Business Research 59 (1): 46-53.
19. Benn, S., D. Dunphy, and A. Griffiths. 2014. Organizational Change for Corporate Sustainability. Abingdon, U.K.: Routledge.
20. Bhattacharya, C. B., and S. Sen. 2004. Doing better at doing good: When, why and how consumers respond to corporate social initiatives. California Management Review 47 (1): 9-24.
21. Brammer, S., and S. Pavelin. 2004. Voluntary social disclosures by large U.K. companies. Business Ethics: A European Review 13 (2/3): 86-99.
22. Bramwell, B., and B. Lane. 1993. Sustainable tourism: An evolving global approach. Journal of Sustainable Tourism 1 (1): 1-5.
23. Branco, M. C., and L. L. Rodrigues. 2006. Corporate social responsibility and resource-based perspectives. Journal of Business Ethics 69, (2): 111-132.
24. Bronn, P. S., and D. Vidaver-Cohen. 2009. Corporate motives for social initiative: Legitimacy, sustainability, or the bottom line? Journal of Business Ethics Journal of Business Ethics (87): 1-91.
25. Burns, J., and R. W. Scapens. 2000. Conceptualizing management accounting change: An institutional framework. Management Accounting Research 11 (1): 3-25.
26. Busco, C., E. L. Leone, and A. Riccaboni. 2010. Using management control systems in implementing sustainability can profit the earth as well as a corporation. GE and P&G show how. Strategic Finance Magazine (July): 29-37.
27. Campbell, J. L. 2006. Institutional analysis and the paradox of corporate social responsibility. American Behavioral Scientist 49 (7): 925- 938.
28. Chandy, R. K., and G. J. Tellis. 2000. The incumbent’s curse? Incumbency, size, and radical product innovation. Journal of Marketing 64 (3): 1-17.
29. Chen, S., and J. L. Dodd. 1997. Economic value added (EVAe): An empirical examination of a new corporate performance measure. Journal of Managerial Issues 9 (3): 318-333.
30. Cheng, B., I. Ioannou, and G. Serafeim. 2014. Corporate social responsibility and access to finance. Strategic Management Journal 35 (1): 1-23.
31. Chesbrough, H., and A. K. Crowther. 2006. Beyond high tech: Early adopters of open innovation in other industries. R&D Management 36 (3): 229-236. 98 Bhimani, Silvola, and Sivabalan
32. Cho, C. H., and D. M. Patten. 2007. The role of environmental disclosures as tools of legitimacy: A research note. Accounting, Organizations and Society 32 (7): 639-647.
33. CK Capital. 2012. Benchmarking the World’s Composite Stock Exchanges. Available at: http://www.CK_Capital_Stock_Exchange_Benchmark.pdf
34. Cormier, D., and I. M. Gordon. 2001. An examination of social and environmental reporting strategies. Accounting, Auditing & Accountability Journal 14 (5): 587-617.
35. Czarniawska-Joerges, B., and G. Sevoń. eds. 2003. The Northern Lights: Organization Theory in Scandinavia. Stockholm, Sweden: Liber AB.
36. Damanpour, F., and S. Gopalakrishnan. 2001. The dynamics of the adoption of product and process innovations in organizations. Journal of Management Studies 38 (1): 45-65.
37. Davis, K. 1973. The case for and against business assumption of social responsibilities. Academy of Management Journal (June): 312- 322.
38. De Leeuw, E. D., and D. A. Dillman. 2008. International handbook of survey methodology. Abingdon, U.K.: Taylor & Francis Group.
39. Deegan C., M. Rankin, and J. Tobin. 2002. An examination of the corporate social and environmental disclosures of BHP from 1983- 1997: A test on the legitimacy theory. Accounting, Auditing & Accountability Journal 15 (3): 312-343.
40. Deegan, C. 2002. Introduction: The legitimising effect of social and environmental disclosures: A theoretical foundation. Accounting, Auditing & Accountability Journal 15 (3): 282-311.
41. DiMaggio, P., and W. W. Powell. 1983. The iron cage revisited: Collective rationality and institutional isomorphism in organizational fields. American Sociological Review 48 (2): 147-160.
42. Eesley, C., and M. J. Lenox. 2006. Firm responses to secondary stakeholder action. Strategic Management Journal 27: 765-781.
43. El Ghoul, S., O. Guedhami, C. C. Kwok, and D. R. Mishra. 2011. Does corporate social responsibility affect the cost of capital? Journal of Banking & Finance Journal of Banking & Finance (35): 9-2388.
44. Ettlie, J. E., W. P. Bridges, and R. D. O’Keefe. 1984. Organization strategy and structural differences for radical versus incremental innovation. Management Science 30 (6): 682-695.
45. Eurosif. 2012. European SRI Study. Brussels, Belgium: Eurosif A.I.S.B.L. Finnish Ministry of Justice. 1997. Accounting Act. Available at: http://www.finlex.fi/en/laki/kaannokset/1997/
46. Fombrun, C. J., N. A. Gardberg, and M. L. Barnett. 2000. Opportunity platforms and safety nets: Corporate citizenship and reputational risk. Business and Society Review 105 (1): 85-106.
47. Friedman, M. 1970. The social responsibility of business is to increase its profits. New York Times Magazine (September 13).
48. Garcia, R., and R. Calantone. 2002. A critical look at technological innovation typology and innovativeness terminology: A literature review. Journal of Product Innovation Management 19 (2): 110-132.
49. Gatignon, H., and J. M. Xuereb. 1997. Strategic orientation of the firm and new product performance. Journal of Marketing Research 77- 90.
50. Geva, A. 2008. Three models of corporate social responsibility: Interrelationships between theory, research, and practice. Business and, Society Review 113 (1): 1-41.
51. Godfrey, P. C. 2005. The relationship between corporate philanthropy and shareholder wealth: A risk management perspective. Academy of Management Review 30 (4): 777-798.
52. Gosselin, M. 1997. The effect of strategy and organizational structure on the adoption and implementation of activity-based costing. Accounting, Organizations and Society 22: 105-122.
53. Granlund, M., and K. Lukka. 1998. It’s a small world of management accounting practices. Journal of Management Accounting Research 10: 153.
54. Hahn, T., and M. Scheermesser. 2006. Approaches to corporate sustainability among German companies. Corporate Social Responsibility and Environmental Management 13 (3): 150-165.
55. Hamann, R., and P. Kapelus. 2004. Corporate social responsibility in mining in Southern Africa: Fair accountability or just greenwash? Development (47): 3-85.
56. Hannan, M. T., and J. Freeman. 1977. The population ecology of organizations. American Journal of Sociology 82 (5): 929-964.
57. Hart, S. L. 1995. A natural-resource-based view of the firm. Academy of Management Review 20 (4): 986-1014.
58. Hasselbladh, H., and J. Kallinikos. 2000. The project of rationalization: A critique and reappraisal of neo-institutionalism in organization studies. Organization Studies 21 (4): 697-720.
59. Hawley, A. H. 1950. Human Ecology: A Theory of Community Structure. New York, NY: Ronald Press Company.
60. Healy, P. M., and K. G. Palepu. 2001. Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of Accounting & Economics 31: 405-440.
61. Hedberg, C., and F. von Malmborg. 2003. The global reporting initiative and corporate sustainability reporting in Swedish companies. Corporate Social Responsibility and Environmental Management 10: 153-164.
62. Hemingway, C. A., and P. W. Maclagan. 2004. Managers’ personal values as drivers of corporate social responsibility. Journal ofBusiness Ethics 50 (1): 33-44.
63. Henderson, R. M. 1993. Underinvestment and incompetence as responses to radical innovation: Evidence from the photolithographic industry. RAND Journal of Economic 24 (2): 248-270.
64. Hillman, A. J., and G. D. Keim. 2001. Shareholder value, stakeholder management, and social issues: What’s the bottom line? Strategic Management Journal Strategic Management Journal (22): 2-125.
65. Isaksson, R., and U. Steimle. 2009. What does GRI-reporting tell us about corporate sustainability?The TQM Journal 21 (2): 168-181.
66. Jenkins, H., and N. Yakovleva. 2006. Corporate social responsibility in the mining industry: Exploring trends in social and environmental disclosure. Journal of Cleaner Production 14 (3): 271-284.
67. Jones, M. T. 1999. The institutional determinants of social responsibility. Journal of Business Ethics 20 (2): 163-179.
68. Kapur, S. 1995. Technological diffusion with social learning. The Journal of Industrial Economics 43 (2): 173-195.
69. Klein, J., and N. Dawar. 2004. Corporate social responsibility and consumers’ attributions and brand evaluations in a product harm crises. International Journal of Research in Marketing 21 (3): 203-217.
70. Koberg, C. S., D. R. Detienne, and K. A. Heppard. 2003. An empirical test of environmental, organizational, and process factors affecting incremental and radical innovation. The Journal of High Technology Management Research 14 (1): 21-45.
71. Kolk, A. 2003. Trends in sustainability reporting by the Fortune Global 250. Business Strategy and the Environment 12 (5): 279-291.
72. Kolk, A. 2004. A decade of sustainability reporting: Developments and significance. International Journal of Environment and Sustainable Development 3 (1): 51-64.
73. Kolk, A. 2008. Sustainability, accountability and corporate governance: Exploring multinationals’ reporting practices. Business Strategy and the Environment 17 (1): 1-15.
74. Kuisma, M., M. Halme, and J. Rintamäki. 2013. Report on the Empirical In-Depth Case Analysis: The Linkages between CSR Drivers, Implementation, Performance and Impact. Working Paper, No. 4, IM-PACT.
75. Länsiluoto, A., and M. Järvenpää. 2008. Environmental and performance management forces. Integrating "greenness" into balanced scorecard. Qualitative Research in Accounting & Management 5 (3): 184-206.
76. Leifer, R. 2000. Radical Innovation: How Mature Companies Can Outsmart Upstarts. Boston, MA: Harvard Business Press.
77. Leifer, R., G. C. O’Connor, and M. Rice. 2001. Implementing radical innovation in mature firms: The role of hubs. The Academy of Management Executive 15 (3): 102-113. Lillis, A. M., and J. Mundy. 2005. Cross-sectional field studies in management accounting research-Closing the gaps between surveys, and case studies. Journal of Management Accounting Research 17: 119-141.
78. Malmi, T. 1999. Activity-based costing diffusion across organizations: An exploratory empirical analysis of Finnish firms. Accounting, Organizations and Society 24 (8): 649-672.
79. Markley, M. J., and L. Davis. 2007. Exploring future competitive advantage through sustainable supply chains. International Journal of Physical Distribution & Logistics Management 37 (9): 763-774.
80. McWilliams, A., D. S. Siegel, and P. M. Wright. 2006. Corporate social responsibility: Strategic implications. Journal of Management Studies 43 (1): 1-18.
81. Meyer, J. W., and B. Rowan. 1977. Institutionalized organizations: Formal structure as myth and ceremony. American Journal of Sociology 340-363.
82. Misani, N. 2010. The convergence of corporate social responsibility practices. Management Research Review 33 (7): 734-748.
83. Mizruchi, M. S., and L. C. Fein. 1999. The social construction of organizational knowledge: A study of the uses of coercive, mimetic, and normative isomorphism. Administrative Science Quarterly 44 (4): 653-683.
84. O’Connor, G. C., and R. DeMartino. 2006. Organizing for radical innovation: An exploratory study of the structural aspects of RI management systems in large established firms. Journal of Product Innovation Management 23 (6): 475-497.
85. O’Donovan, G. 2002. Environmental disclosures in the annual report. Extending the applicability and predictive power of the legitimacy theory. Accounting, Auditing & Accountability Journal 15 (3): 344-371.
86. Oliver, C. 1988. The collective strategy framework: An application to competing predictions of isomorphism. Administrative Science Quarterly 33 (4): 543-561.
87. Oliver, C. 1991. Strategic responses to institutional processes. Academy of Management Review 16 (1): 145-179.
88. Orlitzky, M., F. L. Schmidt, and S. L. Rynes. 2003. Corporate social and financial performance: A meta-analysis. Organization Studies 24: 403-441.
89. Patten, D. M. 1992. Exposure, legitimacy, and social disclosure. Journal of Accounting and Public Policy 10 (4): 297-308.
90. Patten, D. M. 2002. Media exposure, public policy pressure, and environmental disclosure: An examination of the impact of tri data availability. Accounting Forum 26 (2): 152-171.
91. Pedersen, E. R. 2010. Modelling CSR: How managers understand the responsibilities of business towards society. Journal of Business Ethics 91 (2): 155-166.
92. Peloza, J. 2006. Using corporate social responsibility as insurance for financial performance. California Management Review 48 (2): 52- 72.
93. Perrini, F., A. Russo, and A. Tencati. 2007. CSR strategies of SMEs and large firms. Evidence from Italy. Journal of Business Ethics 74 (3): 285-300.
94. Perry, M., and T. T. Sheng. 1999. An overview of trends related to environmental reporting in Singapore. Environmental Management and Health 10 (5): 310-320.
95. Popoli, P. 2011. Linking CSR strategy and brand image: Different approaches in local and global markets. Marketing Theory 11 (4): 419- 433.
96. Porter, M. E. 1980. Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York, NY: The Free Press.
97. Porter, M. E., and M. R. Kramer. 2006. Strategy and society: The link between competitive advantage and corporate social responsibility. Harvard Business Review 84 (12): 78-92.
98. PricewaterhouseCoopers (PwC). 2014. Sustainable Supply Chains: Making Value the Priority. Available at: http://www.pwc.com/us/en/operations-management/publications/assets/sustainable_supply_chain.pdf
99. Rasche, A., and G. Kell. 2010. The United Nations Global Compact: Achievements, Trends and Challenges. New York, NY: Cambridge University Press.
100. Rupp, D. E., J. Ganapathi, R. V. Aguilera, and C. A. Williams. 2006. Employee reactions to corporate social responsibility: An organizational justice framework. Journal of Organizational Behavior 27 (4): 537-543.
101. Scott, R. W. 1995. Institutions and Organizations. Thousand Oaks, CA: Sage Publications.
102. Sheremata, W. A. 2000. Centrifugal and centripetal forces in radical new product development under time pressure. Academy of Management Review 25 (2): 389-408.
103. Sims, R. L., and T. L. Keon. 1997. Ethical work climate as a factor in the development of person-organization fit. Journal of Business Ethics 16: 1095-1105.Sinclair-Desgagne, B., and E. Gozlan. 2003. A theory of environmental risk disclosure. Journal of Environmental Economics and Management 45 (2): 377-393.
104. Sisaye, S. 2003. Process innovation and adaptive institutional change strategies in management control systems: Activity based costing as administrative innovation. Advances in Management Accounting 11: 251-285. Stern Review. 2006. The Economics of Climate Change. Vol. 30. London, U.K.: HM Treasury.
105. Suchman, M. C. 1995. Managing legitimacy: Strategic and institutional approaches. Academy of Management Review 20 (3): 571-610.
106. Tan, J. 2001. Innovation and risk-taking in a transitional economy: A comparative study of Chinese managers and entrepreneurs. Journal of Business Venturing 16 (4): 359-376.
107. Thuiller, W. 2007. Biodiversity: Climate change and the ecologist. Nature 448 (7153): 550-552.
108. UNEP, GRI, KPMG, and the Center for Corporate Governance in Africa. 2013. Carrots and Sticks: Sustainability Reporting Policies Worldwide-Today’s Best Practice, Tomorrow’s Trends. Available at: https://www.globalreporting.org/resourcelibrary/Carrotsand-Sticks.pdf
109. van Marrewijk, M. 2003. Concepts and definitions of CSR and corporate sustainability: Between agency and communion. Journal of Business Ethics 44 (2/3): 95-105.
110. Verbruggen, S., J. Christiaens, and K. Milis. 2011. Can resource dependence and coercive isomorphism explain non-profit organizations’ compliance with reporting standards? Non-Profit and Voluntary Sector Quarterly Non-Profit and Voluntary Sector Quarterly (40): 1-5.
111. Weber, M. 2008. The business case for corporate social responsibility: A company-level measurement approach for CSR. European Management Journal 26 (4): 247-261.
112. Werther, W. B., Jr., and D. Chandler. 2005. Strategic corporate social responsibility as global brand insurance. Business Horizons 48 (4): 317-324.
113. Westphal, J. D., R. Gulati, and S. M. Shortell. 1997. Customization or conformity? An institutional and network perspective on the content and consequences of TQM adoption. Administrative Science Quarterly 42 (2): 366-394.
114. Yin, J., and Y. Zhang. 2012. Institutional dynamics and corporate social responsibility (CSR) in an emerging country context: Evidence from China. Journal of Business Ethics 111 (2): 301-316.