Mandatory CSR and Sustainability Reporting: Economic Analysis and Literature Review

Hans B. Christensen, Luzi Hail and Christian Leuz

No 26169, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This study collates potential economic effects of mandated disclosure and reporting standards for corporate social responsibility (CSR) and sustainability topics. We first outline key features of CSR reporting. Next, we draw on relevant academic literatures in accounting, finance, economics, and management to discuss and evaluate the potential economic consequences of a requirement for sustainability reporting for U.S. firms, including effects in capital markets, on stakeholders other than investors and on firm behavior. We also discuss issues related to the implementation and enforcement of CSR and sustainability reporting standards as well as two approaches to sustainability reporting that differ in their overarching goals and materiality standards. Our analysis yields a number of insights that are relevant for the current debate on mandatory CSR and sustainability reporting. It also points scholars to avenues for future research.

JEL-codes: F30 G30 G38 K22 L21 M14 M41 M48 (search for similar items in EconPapers)
Date: 2019-08
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Citations: View citations in EconPapers (7)

Published as Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
Published as Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, vol 26(3), pages 1176-1248.

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Journal Article: Mandatory CSR and sustainability reporting: economic analysis and literature review (2021)
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