FIRM CHARACTERISTICS AND SOCIAL SUSTAINABILITY PERFORMANCE DISCLOSURES IN NIGERIA
Keywords:
social sustainability performance disclosure, firm size, firm age, leverage, legitimacy theory
Abstract
This study investigated the effect of corporate attributes (especially firm size, firm age and leverage) on social sustainability performance disclosures in Nigeria. A checklist based on the global reporting index was used in analysing social sustainability performance disclosures (SSPD) in the sustainability reports of thirty manufacturing firms. The firms were drawn from the consumer goods, industrial goods, agriculture and health care sectors of the Nigerian economy, and the data used covered the period 2010 to 2020. The study was anchored on the legitimacy theory perspective. Information on firm attributes was extracted from the annual reports of the selected firms for the same period. Regression technique with Newey West robust standard errors was used to analyse the data collected. Findings showed that firm size, firm age and leverage, each had a positive effect on social sustainability performance disclosures in manufacturing firms in Nigeria, leading to the conclusion that firm characteristics have significant effect on sustainability disclosures. The implication of these findings is that social interactions between a firm and its societal environment increases over time, and this helps to enhance the legitimacy of the firm in its community.
References
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Andesto, Ronny & Saebani, Akmad (2021). The impact of firm characteristics on sustainability disclosure and firm value: Empirical evidence from the Indonesia Stock Exchange. Journal of Engineering and Applied Sciences. 16(12), 1816-949x.
Anazonwu, O. H., Egbunike, C.F., & Gunardi, A. (2018). Corporate Board Diversity and Sustainability Reporting; A case study of listed manufacturing firms in Nigeria. Indonesian Journal of Sustainability Accounting and Management, 2(1), 65-78. http://unpas.id/index.php/ijsam
Asuquo, A. I., Dada, E. T. & Onyeogaziri, U. R. (2018). The effect of sustainability reporting on corporate performance of selected quoted brewery firms in Nigeria. International Journal of Business & Law Research. 6(3):1-10
Babalola, R. A., Francis, U., & Abiabu, M. F. C. (2019). Corporate social responsibility reporting and financial performance: A study of Nigerian Breweries Plc; Archives of Business Research, 7(4), 45-57.
Balaman, Ş. Y. (2019). Sustainability issues in biomass-based production chains. In Ş. Y. Balaman (Ed.), Decision-making for biomass-based production chains (77–112).
Academic Press. https://doi.org/10.1016/B978-0-12-814278-3.00004-2 Benjamin, U. D., Okpanachi, J., Nyor, T., & Muhammad, M. L (2017). Effect of firm characteristics on environmental reporting practices of listed manufacturing firms in Nigeria. Nigerian Journal of Management Sciences 6(1), 140-148.
Buallay, A. (2019). Sustainability reporting and firms performance: comparative study between manufacturing and banking sectors, International Journal of Productivity and Performance Management, 69(3), 431 – 445, https://doi.org/10.1108/IJPPM - 10 -2018 – 0371
Calabrese, A., Costa, R., Ghiron, N. L., Menichini, T. (2017a), Materiality analysis in sustainability reporting: a method for making it work in practice, European Journal of Sustainable Development, 6(3), 439-439.
Caron, M., & Turcotte, M. B. (2009). Path dependence and path creation: Framing the extra financial information for the sustainable trajectory. Accounting, Auditing & Accountability Journal, 22(2), 272–297.
Chih, H. L., Chih, H. H., & Chen, T. Y., (2010). On the determinants of corporate social responsibility. International evidence on the financial industry. Journal of Business Ethics, 93(1),115-135.
Chowdhury, M.A.A., Dey, M. and Abedin, M.T. (2020), Firms’ attributes and environmental disclosure: evidence from listed firms in Bangladesh, Asian Journal of Accounting Perspectives,13(2), 57-77. https://doi.10.22452/ajap.vol13no2.4.
Crossley, R.M., Elmagrhi, M.H. & Ntim, C.G. (2021). Sustainability and legitimacy theory: The case of sustainable social and environmental practices of small and medium-sized enterprises. Business Strategy and the Environment. https://doi.org/10.1002/bse.2837
Deegan, C. (2002). Introduction: the legitimizing effect of social and environmental disclosures-a theoretical foundation. Accounting, Auditing & Accountability Journal, 15(3), 282–311.
Deegan, C., & Unerman, J. (2006). Financial accounting theory. McGraw-Hill Education.
De Villiers, C. and Alexander, D., (2014). The institutionalization of corporate social responsibility reporting. The British Accounting Review, 46(2), 198–212
Dowling, J.,& Pfeffer, J. (1975).Organizational legitimacy, social values and organizational behavior. Pacific Sociological Review, 18, 122–136
.https://doi.org/10.2307/1388226
Ducassy, I. & Montandrau, S. (2015). Corporate social performance, ownership structure, and corporate governance in France. Research in International Business and Finance, 34, 383– 396- http://dx.doi.org/10.1016/j.ribaf.2015.02.002.
Fahad, P., & Nidheesh, K. B. (2020). Determinants of CSR disclosure: evidence from India;
Journal of Indian Business Research. https://doi.org/10.1108/JIBR-06-2018-0171
Girón, A., Kazemikhasragh, A., Cicchiello, A.F., & Panetti, E. (2020). Sustainability reporting and firms’ economic performance: Evidence from Asia and Africa. Journal of the
Knowledge Economy. https://doi.org/10.1007/s13132-020-00693-7
Gray, R., Kouhy, R.,&Lavers, S. (1995). Corporate social and environmental reporting: A review of the literature and a longitudinal study of UK disclosure. Accounting, Auditing & Accountability Journal, 8(2), 47–77.
Islam, M.T., Kokubu, K. and Nishitani, K. (2020), Corporate social reporting in the banking industry of Bangladesh: a test of legitimacy theory. Social Responsibility Journal. https://doi.10.1108/SRJ-05-2019-0185.
Istiqoma, I. & Wahyuningrum, I. F. S. (2020). Factors affecting environmental disclosure in companies listed on the Tokyo Stock Exchange; Accounting Analysis Journal 9(1), 2229
Jian, M. & Lee, K.W. (2015). CEO compensation and corporate social responsibility. Journal of Multi Corporation Financial Management, 29, 46–65. http://dx.doi.org/10.1016/j.mulfin.2014.11.004.
Juhmani, O. (2014). Determinants of corporate social and environmental disclosure on websites: the case of Bahrain, Universal Journal of Accounting and Finance, 2(4), 7787. https:// doi. 10.13189/ujaf.2014.020402
Kilic, M., & Kuzey, C. (2017). Factors influencing sustainability reporting: Evidence from
Turkey. Recent Issues in Accounting Finance and Auditing, 139-175 DOI:10.2139/ssrn.3098812.
Kogan, L. and Tian, M. (2012). Firm characteristics and empirical factor models: a data-mining
experiment, International Finance Discussion Papers No.1070. SSRNid2976764%20(1).pdf
Kuzey, C., & Uyar, A. (2017). Determinants of sustainability reporting and its impact on firm value: Evidence from the emerging market of Turkey. Journal of Cleaner Production, 143(1), 27-39.
Littig, B, & Grieβler, E. (2005). Social Sustainability: A Catchword Between Political
Pragmatism and Social Theory. International Journal for Sustainable Development, 8 (1-2), 65–79
Mathews, M., (1993). Socially Responsible Accounting. Chapman Hall
.http://prism.librarymanagementcloud.co.uk/dmu/items/200649
McKnight, P.J. and Weir, C. (2008), “Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis”, The Quarterly Review of Economics and Finance, 49(2), 139-158
Menike, L.M.C.S, (2020). Impact of environmental disclosure on firm performance: an empirical analysis of food, beverage and tobacco sector companies listed in Colombo Stock Exchange, Sri Lanka. International Journal of Academic Research in Business & Social Sciences, 7(5), 518-536.
Miaad M. Alotaibi (2020). Determinants of sustainability disclosure of Saudi Listed Companies. Journal of Economics and Sustainable Development, 11(2). https//www.iiste.org.
Michelon, G. and A. Parbonetti, (2012). The effect of corporate governance on sustainability
disclosure. Journal of Management and Governance, 16(3), 477-509. http://link.springer.com/article/10.1007%2Fs10997-010-9160-3.
Muhammad, A., Salman, R., Ramiz, U.R., Amir, I., & Fizzah, M. (2017) Impact of board characteristics on corporate social responsibility disclosure. The Journal of Applied Business Research, 33(4), 799-808.
Mutalib, O, Y. Iriabije, U. E., Okon, E. A., & Chijioke, E. O. (2020). Impact of sustainability reporting on corporate performance: Evidence from in Nigeria Stock Exchange. Journal of Mgt. Science & Entrepreneurship, 20(7), 345-366
Nazaria, M. D., Aris, S.M.Y., Nur, I.I.I., Nurul, S.Z., & Razman, A. (2021). Analysis of firms’ characteristics affecting the sustainability reporting disclosure in Malaysia; International Journal of Academic Research in Business & Social Sciences. 11(14), 120.
Nermeen, F.S., Khaled, D., & Tariq, I. (2014). The relationship between firm characteristics and mandatory disclosure level: When Egyptian Accounting Standards were first adopted; Mustang Journal of Accounting and Finance. 5, 85-103.
https://www.researchgate.net/publication/263083451
Okpala, O.P., & Iredele, O.O. (2018). Corporate social and environmental disclosures and market value of listed firms in Nigeria. Copernican Journal of Finance & Accounting, 7(3), 9–28. http:// dx.doi.org/10.12775/CJFA.2018.013
Okoba, D. (2022). Firm characteristics and sustainability performance disclosure of listed consumer goods manufacturing companies in Nigeria. [Doctoral thesis, Ignatius Ajuru University of Education, Rumuolumeni, Port Harcourt, Nigeria].
Osazuwa, N. P., Che-Ahmad, A., & Che-Adam, N. (2016). Board characteristics and environmental disclosure in Nigeria. Information (Japan), 19(18A), 3069–3074.
Otu Umoren, A., John Udo, E., & Sunday George, B. (2015). Environmental, social and governance disclosures: A call for Integrated Reporting in Nigeria. Journal of Finance and Accounting, 3(6), 227–233. https://doi.org/10.11648/j.jfa.20150306.19
Patten, D. M. (1992). Intra-industry environmental disclosures in response to the Alaskan oil spill:A note on legitimacy theory. Accounting, Organizations and Society, 17(5), 471– 475.
Patten, D., & Guidry, R. (2010). Market reactions to the first-time issuance of corporate sustainability reports: Evidence that quality matters. Sustainability Accounting, Management and Policy Journal, 1(1), 33–50.
Pojasek, R. B. (2007), A framework for business sustainability, Environmental Quality Management, 17(2),81-88.
Pravia, A., Ariyani, S.E., & Ak, M. (2018). Analysis of key factors affecting the reporting disclosure indexes of sustainability reporting in Indonesia; International Journal of Business, Economics and Law, 16(1), 2289-1552
Rapeepun, S. (2018). The effects of firm characteristics on corporate social responsibility activities in industry sector in eastern of Thailand. International Journal of Management and Applied Science, 4(10), 93-98
Riyadh, H.A., Sukoharsono, E.G., & Alfaiza, S.A. (2019). The impact of corporate social responsibility disclosure and board characteristics on corporate performance. Cogent Bus. Manage .6(1), 1-18. https://doi.org.10.1080/23311975.2019.1647917
Ryan, B., Scapens, R.W., & Theobald, M., (2002). Research method and methodology in finance and accounting, (2nd,Ed.). South-Western Cengage Learning. Academic Press Ltd.
Salawu, M.A., Muhammed, T.D., Garba, A., & Salisu, M (2021). Effect of board characteristics on social and environmental disclosure of listed environmentally sensitive firms in Nigeria. Gusau Journal of Accounting and Finance,2(3), https://doi.org/10.57233/gujaf.v2i3.77
Samarah, T., Bayram, P., Aljuhmani, H.Y., & Elrehail, H. (2021). The role of brand interactivity and involvement in driving social media consumer brand engagement and brand loyalty: the mediating effect of brand trust, Journal of Research in Interactive Marketing. https://doi.10.1108/JRIM-03-2021- 0072.
Stanwick, P.A., & Stanwick, S.D. (1998). The relationship between corporate social performance, and organizational size, financial performance, and environmental performance: An empirical examination, Journal of Business Ethics 17(2), 195–204. htpps://doi.org/10.1023/A:1005784421547S
Subrahmanyam, A. and Titman, S. (2001), Feedback from stock prices to cash flows. Journal of Finance, 56(18). https://doi.org/10.1111/0022-1082.00409
Tareq, B. K., Reza,K., & Aminu, H. (2017). The impact of corporate characteristics on social and environmental disclosure (CSED): The case of Jordan. Journal of Accounting And Auditing: Research & Practice. https://doi.org.10.5171/2017.369352.
Tate, W. L., Ellram, L. M., & Kirchoff, J. F. (2010). Corporate social responsibility reports: Athematic analysis related to supply chain management. Journal of Supply Chain Management,46(1), 19–44.
Vintila, G. (2013). A study of the relationship between corporate social responsibility, financial performance & firm size. Retrieved from
http://www.revistadestatistica.ro/Suplimente/2013/1_2013/srrs1_2013a09.pdf
Wang, M. (2017). The relationship between firm characteristics and the disclosure of sustainability reporting; www.mdpi/journal/sustainability
Whetman, L. (2018). The impact of sustainability reporting on firms profitability, Undergraduate Economic Review, 14(1), 1 – 21.
Wood, D. J. (2014). Corporate Social Performance.
https://doi.org/10.1093/obo/9780199846740-0099
Andesto, Ronny & Saebani, Akmad (2021). The impact of firm characteristics on sustainability disclosure and firm value: Empirical evidence from the Indonesia Stock Exchange. Journal of Engineering and Applied Sciences. 16(12), 1816-949x.
Anazonwu, O. H., Egbunike, C.F., & Gunardi, A. (2018). Corporate Board Diversity and Sustainability Reporting; A case study of listed manufacturing firms in Nigeria. Indonesian Journal of Sustainability Accounting and Management, 2(1), 65-78. http://unpas.id/index.php/ijsam
Asuquo, A. I., Dada, E. T. & Onyeogaziri, U. R. (2018). The effect of sustainability reporting on corporate performance of selected quoted brewery firms in Nigeria. International Journal of Business & Law Research. 6(3):1-10
Babalola, R. A., Francis, U., & Abiabu, M. F. C. (2019). Corporate social responsibility reporting and financial performance: A study of Nigerian Breweries Plc; Archives of Business Research, 7(4), 45-57.
Balaman, Ş. Y. (2019). Sustainability issues in biomass-based production chains. In Ş. Y. Balaman (Ed.), Decision-making for biomass-based production chains (77–112).
Academic Press. https://doi.org/10.1016/B978-0-12-814278-3.00004-2 Benjamin, U. D., Okpanachi, J., Nyor, T., & Muhammad, M. L (2017). Effect of firm characteristics on environmental reporting practices of listed manufacturing firms in Nigeria. Nigerian Journal of Management Sciences 6(1), 140-148.
Buallay, A. (2019). Sustainability reporting and firms performance: comparative study between manufacturing and banking sectors, International Journal of Productivity and Performance Management, 69(3), 431 – 445, https://doi.org/10.1108/IJPPM - 10 -2018 – 0371
Calabrese, A., Costa, R., Ghiron, N. L., Menichini, T. (2017a), Materiality analysis in sustainability reporting: a method for making it work in practice, European Journal of Sustainable Development, 6(3), 439-439.
Caron, M., & Turcotte, M. B. (2009). Path dependence and path creation: Framing the extra financial information for the sustainable trajectory. Accounting, Auditing & Accountability Journal, 22(2), 272–297.
Chih, H. L., Chih, H. H., & Chen, T. Y., (2010). On the determinants of corporate social responsibility. International evidence on the financial industry. Journal of Business Ethics, 93(1),115-135.
Chowdhury, M.A.A., Dey, M. and Abedin, M.T. (2020), Firms’ attributes and environmental disclosure: evidence from listed firms in Bangladesh, Asian Journal of Accounting Perspectives,13(2), 57-77. https://doi.10.22452/ajap.vol13no2.4.
Crossley, R.M., Elmagrhi, M.H. & Ntim, C.G. (2021). Sustainability and legitimacy theory: The case of sustainable social and environmental practices of small and medium-sized enterprises. Business Strategy and the Environment. https://doi.org/10.1002/bse.2837
Deegan, C. (2002). Introduction: the legitimizing effect of social and environmental disclosures-a theoretical foundation. Accounting, Auditing & Accountability Journal, 15(3), 282–311.
Deegan, C., & Unerman, J. (2006). Financial accounting theory. McGraw-Hill Education.
De Villiers, C. and Alexander, D., (2014). The institutionalization of corporate social responsibility reporting. The British Accounting Review, 46(2), 198–212
Dowling, J.,& Pfeffer, J. (1975).Organizational legitimacy, social values and organizational behavior. Pacific Sociological Review, 18, 122–136
.https://doi.org/10.2307/1388226
Ducassy, I. & Montandrau, S. (2015). Corporate social performance, ownership structure, and corporate governance in France. Research in International Business and Finance, 34, 383– 396- http://dx.doi.org/10.1016/j.ribaf.2015.02.002.
Fahad, P., & Nidheesh, K. B. (2020). Determinants of CSR disclosure: evidence from India;
Journal of Indian Business Research. https://doi.org/10.1108/JIBR-06-2018-0171
Girón, A., Kazemikhasragh, A., Cicchiello, A.F., & Panetti, E. (2020). Sustainability reporting and firms’ economic performance: Evidence from Asia and Africa. Journal of the
Knowledge Economy. https://doi.org/10.1007/s13132-020-00693-7
Gray, R., Kouhy, R.,&Lavers, S. (1995). Corporate social and environmental reporting: A review of the literature and a longitudinal study of UK disclosure. Accounting, Auditing & Accountability Journal, 8(2), 47–77.
Islam, M.T., Kokubu, K. and Nishitani, K. (2020), Corporate social reporting in the banking industry of Bangladesh: a test of legitimacy theory. Social Responsibility Journal. https://doi.10.1108/SRJ-05-2019-0185.
Istiqoma, I. & Wahyuningrum, I. F. S. (2020). Factors affecting environmental disclosure in companies listed on the Tokyo Stock Exchange; Accounting Analysis Journal 9(1), 2229
Jian, M. & Lee, K.W. (2015). CEO compensation and corporate social responsibility. Journal of Multi Corporation Financial Management, 29, 46–65. http://dx.doi.org/10.1016/j.mulfin.2014.11.004.
Juhmani, O. (2014). Determinants of corporate social and environmental disclosure on websites: the case of Bahrain, Universal Journal of Accounting and Finance, 2(4), 7787. https:// doi. 10.13189/ujaf.2014.020402
Kilic, M., & Kuzey, C. (2017). Factors influencing sustainability reporting: Evidence from
Turkey. Recent Issues in Accounting Finance and Auditing, 139-175 DOI:10.2139/ssrn.3098812.
Kogan, L. and Tian, M. (2012). Firm characteristics and empirical factor models: a data-mining
experiment, International Finance Discussion Papers No.1070. SSRNid2976764%20(1).pdf
Kuzey, C., & Uyar, A. (2017). Determinants of sustainability reporting and its impact on firm value: Evidence from the emerging market of Turkey. Journal of Cleaner Production, 143(1), 27-39.
Littig, B, & Grieβler, E. (2005). Social Sustainability: A Catchword Between Political
Pragmatism and Social Theory. International Journal for Sustainable Development, 8 (1-2), 65–79
Mathews, M., (1993). Socially Responsible Accounting. Chapman Hall
.http://prism.librarymanagementcloud.co.uk/dmu/items/200649
McKnight, P.J. and Weir, C. (2008), “Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis”, The Quarterly Review of Economics and Finance, 49(2), 139-158
Menike, L.M.C.S, (2020). Impact of environmental disclosure on firm performance: an empirical analysis of food, beverage and tobacco sector companies listed in Colombo Stock Exchange, Sri Lanka. International Journal of Academic Research in Business & Social Sciences, 7(5), 518-536.
Miaad M. Alotaibi (2020). Determinants of sustainability disclosure of Saudi Listed Companies. Journal of Economics and Sustainable Development, 11(2). https//www.iiste.org.
Michelon, G. and A. Parbonetti, (2012). The effect of corporate governance on sustainability
disclosure. Journal of Management and Governance, 16(3), 477-509. http://link.springer.com/article/10.1007%2Fs10997-010-9160-3.
Muhammad, A., Salman, R., Ramiz, U.R., Amir, I., & Fizzah, M. (2017) Impact of board characteristics on corporate social responsibility disclosure. The Journal of Applied Business Research, 33(4), 799-808.
Mutalib, O, Y. Iriabije, U. E., Okon, E. A., & Chijioke, E. O. (2020). Impact of sustainability reporting on corporate performance: Evidence from in Nigeria Stock Exchange. Journal of Mgt. Science & Entrepreneurship, 20(7), 345-366
Nazaria, M. D., Aris, S.M.Y., Nur, I.I.I., Nurul, S.Z., & Razman, A. (2021). Analysis of firms’ characteristics affecting the sustainability reporting disclosure in Malaysia; International Journal of Academic Research in Business & Social Sciences. 11(14), 120.
Nermeen, F.S., Khaled, D., & Tariq, I. (2014). The relationship between firm characteristics and mandatory disclosure level: When Egyptian Accounting Standards were first adopted; Mustang Journal of Accounting and Finance. 5, 85-103.
https://www.researchgate.net/publication/263083451
Okpala, O.P., & Iredele, O.O. (2018). Corporate social and environmental disclosures and market value of listed firms in Nigeria. Copernican Journal of Finance & Accounting, 7(3), 9–28. http:// dx.doi.org/10.12775/CJFA.2018.013
Okoba, D. (2022). Firm characteristics and sustainability performance disclosure of listed consumer goods manufacturing companies in Nigeria. [Doctoral thesis, Ignatius Ajuru University of Education, Rumuolumeni, Port Harcourt, Nigeria].
Osazuwa, N. P., Che-Ahmad, A., & Che-Adam, N. (2016). Board characteristics and environmental disclosure in Nigeria. Information (Japan), 19(18A), 3069–3074.
Otu Umoren, A., John Udo, E., & Sunday George, B. (2015). Environmental, social and governance disclosures: A call for Integrated Reporting in Nigeria. Journal of Finance and Accounting, 3(6), 227–233. https://doi.org/10.11648/j.jfa.20150306.19
Patten, D. M. (1992). Intra-industry environmental disclosures in response to the Alaskan oil spill:A note on legitimacy theory. Accounting, Organizations and Society, 17(5), 471– 475.
Patten, D., & Guidry, R. (2010). Market reactions to the first-time issuance of corporate sustainability reports: Evidence that quality matters. Sustainability Accounting, Management and Policy Journal, 1(1), 33–50.
Pojasek, R. B. (2007), A framework for business sustainability, Environmental Quality Management, 17(2),81-88.
Pravia, A., Ariyani, S.E., & Ak, M. (2018). Analysis of key factors affecting the reporting disclosure indexes of sustainability reporting in Indonesia; International Journal of Business, Economics and Law, 16(1), 2289-1552
Rapeepun, S. (2018). The effects of firm characteristics on corporate social responsibility activities in industry sector in eastern of Thailand. International Journal of Management and Applied Science, 4(10), 93-98
Riyadh, H.A., Sukoharsono, E.G., & Alfaiza, S.A. (2019). The impact of corporate social responsibility disclosure and board characteristics on corporate performance. Cogent Bus. Manage .6(1), 1-18. https://doi.org.10.1080/23311975.2019.1647917
Ryan, B., Scapens, R.W., & Theobald, M., (2002). Research method and methodology in finance and accounting, (2nd,Ed.). South-Western Cengage Learning. Academic Press Ltd.
Salawu, M.A., Muhammed, T.D., Garba, A., & Salisu, M (2021). Effect of board characteristics on social and environmental disclosure of listed environmentally sensitive firms in Nigeria. Gusau Journal of Accounting and Finance,2(3), https://doi.org/10.57233/gujaf.v2i3.77
Samarah, T., Bayram, P., Aljuhmani, H.Y., & Elrehail, H. (2021). The role of brand interactivity and involvement in driving social media consumer brand engagement and brand loyalty: the mediating effect of brand trust, Journal of Research in Interactive Marketing. https://doi.10.1108/JRIM-03-2021- 0072.
Stanwick, P.A., & Stanwick, S.D. (1998). The relationship between corporate social performance, and organizational size, financial performance, and environmental performance: An empirical examination, Journal of Business Ethics 17(2), 195–204. htpps://doi.org/10.1023/A:1005784421547S
Subrahmanyam, A. and Titman, S. (2001), Feedback from stock prices to cash flows. Journal of Finance, 56(18). https://doi.org/10.1111/0022-1082.00409
Tareq, B. K., Reza,K., & Aminu, H. (2017). The impact of corporate characteristics on social and environmental disclosure (CSED): The case of Jordan. Journal of Accounting And Auditing: Research & Practice. https://doi.org.10.5171/2017.369352.
Tate, W. L., Ellram, L. M., & Kirchoff, J. F. (2010). Corporate social responsibility reports: Athematic analysis related to supply chain management. Journal of Supply Chain Management,46(1), 19–44.
Vintila, G. (2013). A study of the relationship between corporate social responsibility, financial performance & firm size. Retrieved from
http://www.revistadestatistica.ro/Suplimente/2013/1_2013/srrs1_2013a09.pdf
Wang, M. (2017). The relationship between firm characteristics and the disclosure of sustainability reporting; www.mdpi/journal/sustainability
Whetman, L. (2018). The impact of sustainability reporting on firms profitability, Undergraduate Economic Review, 14(1), 1 – 21.
Wood, D. J. (2014). Corporate Social Performance.
https://doi.org/10.1093/obo/9780199846740-0099
Published
2023-07-21
Section
Articles
