Which Corporate Governance Mechanisms Drive CSR Disclosure Practices in Emerging Countries?
María del Mar Miras-Rodríguez (),
Domingo Martínez-Martínez () and
Bernabé Escobar-Pérez ()
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María del Mar Miras-Rodríguez: Department of Financial Economics and Operation Management, Universidad de Sevilla, 41018 Seville, Spain
Domingo Martínez-Martínez: Department of Financial Economics and Accounting, Universidad de Cádiz, 11002 Cadiz, Spain
Bernabé Escobar-Pérez: Department of Accounting and Financial Economics, Universidad de Sevilla, 41018 Seville, Spain
Sustainability, 2018, vol. 11, issue 1, 1-20
Although several studies have analyzed the role that specific corporate governance mechanisms have on Corporate Social Responsibility (CSR) reporting practices, their findings have not been conclusive and the evidence from developing countries is scarce. The theoretical support for this relationship in the previous literature is found in Stakeholder, Agency, Legitimacy, and Good Management theories. Undoubtedly, as the institutional environment has an important impact on CSR reporting practices, it would be relevant for this field of research to analyze this relationship in companies from emerging countries. It is suggested for the sake of convenience to consider different levels of corporate governance mechanisms together due to the high interdependence among them. Consequently, the aim of this paper is to analyze whether different levels of corporate governance mechanisms (at the institutional, group, and firm level) are determinant factors of the CSR reporting practices in BRICS countries (Brazil, Russia, India, China, and South Africa). The final sample was composed of 281 companies. On the basis of our results, we conclude that institutional corporate governance mechanisms influence the company’s CSR reporting strategy and that both CSR disclosure practices analyzed are affected by group-level corporate governance mechanisms in companies from family-based societies. Our findings support the appropriateness of separately analyzing this issue in emerging countries.
Keywords: CSR reporting practices; Institutional Theory; corporate governance; BRICS (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:11:y:2018:i:1:p:61-:d:192578
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