Corporate social responsibility and annual report reading difficulty

Akhilesh Bajaj (), Lori N. K. Leonard (), Li Sun () and Zhenze Xing ()
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Akhilesh Bajaj: The University of Tulsa
Lori N. K. Leonard: The University of Tulsa
Li Sun: The University of Tulsa
Zhenze Xing: Illinois Institute of Technology

Review of Quantitative Finance and Accounting, 2023, vol. 60, issue 4, No 4, 1393-1428

Abstract: Abstract We use more than 21,000 firm-year observations for 2534 U.S. companies between 1993 and 2018 to investigate the relationship between corporate social responsibility performance and the reading difficulty of annual reports. We find a significant negative relationship, suggesting that the annual reports of socially responsible firms are more readable (i.e., easier to read and understand). Overall, our results suggest that socially responsible firms are more ethical and transparent, which is consistent with the stakeholder view.

Keywords: Corporate social responsibility; Readability; Reading difficulty; Annual reports (search for similar items in EconPapers)
JEL-codes: D23 G14 G38 M12 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s11156-023-01132-9

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