Differences in corporate social responsibility disclosure between Japan and the USA

Hien Tran

Journal of Asian Business and Economic Studies, 2018, vol. 25, issue 1, 67-85

Abstract: Purpose - The purpose of this paper is to examine how and why disclosure of corporate social responsibility (CSR) information was influenced by independent directors in Japan and the USA. Design/methodology/approach - The author used a pooled cross-sectional data set of 498 Fortune Japanese and American firms between 2006 and 2011 and fixed effects estimation method. The author analysed the results by employing a comparative approach between the two national contexts. Findings - This study found that independent directors in Japanese firms had a significant positive effect on CSR disclosure whilst no evidence was found in the US firms, although the proportion of independent directors on American boards traditionally and largely outnumbers that of the Japanese counterparts. Originality/value - The study results offer an insight that independent directors could be evaluated in terms of effectiveness and efficiency in CSR disclosure. The findings support the stakeholder theory in Japanese globalised companies while challenging the theory in the US context, thereby calling for further research into the stakeholder engagement models, particularly in the USA.

Keywords: Governance; Independent directors; Corporate social responsibility; Stakeholder theory (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:jabesp:jabes-04-2018-0002

DOI: 10.1108/JABES-04-2018-0002

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