Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Sustainability in businesses, corporate social responsibility, and accounting standards An empirical study

Sustainability in businesses, corporate social responsibility, and accounting standards An... Purpose – The purpose of this paper is to examine the relationship of sustainable development in businesses with corporate social responsibility (CSR) and accounting, in 53 developed and emerging economies over the period 1997‐2008. Design/methodology/approach – The authors test the relationship of sustainable development in businesses with CSR and accounting using ordinary least squares estimation technique for country‐level panel data. Findings – The results of the analyses provide evidence that sustainable development is strongly related to CSR and accounting standards, even after controlling for a variety of macroeconomic variables such as inflation, foreign direct investment, and unemployment. Moreover, the authors find that sustainable development is strongly and positively associated with customer satisfaction and the availability of senior managers. Practical implications – Conclusions that have been drawn are important for a large group of stakeholders such as investors, companies' managers, employees, customers, suppliers, governmental and private regulatory agencies, and the general public, indicating that socially responsible firms and good accounting standards are likely to contribute to sustainable development in businesses in developed and emerging countries. Originality/value – To the best of the authors' knowledge, this is the first country‐level study of its kind that attempts to explore the association of sustainable development in businesses with CSR and accounting standards. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Accounting and Information Management Emerald Publishing

Sustainability in businesses, corporate social responsibility, and accounting standards An empirical study

Download PDF
21 pages

Loading next page...
 
/lp/emerald-publishing/sustainability-in-businesses-corporate-social-responsibility-and-4mQIeotARH
Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1834-7649
DOI
10.1108/18347641111169287
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to examine the relationship of sustainable development in businesses with corporate social responsibility (CSR) and accounting, in 53 developed and emerging economies over the period 1997‐2008. Design/methodology/approach – The authors test the relationship of sustainable development in businesses with CSR and accounting using ordinary least squares estimation technique for country‐level panel data. Findings – The results of the analyses provide evidence that sustainable development is strongly related to CSR and accounting standards, even after controlling for a variety of macroeconomic variables such as inflation, foreign direct investment, and unemployment. Moreover, the authors find that sustainable development is strongly and positively associated with customer satisfaction and the availability of senior managers. Practical implications – Conclusions that have been drawn are important for a large group of stakeholders such as investors, companies' managers, employees, customers, suppliers, governmental and private regulatory agencies, and the general public, indicating that socially responsible firms and good accounting standards are likely to contribute to sustainable development in businesses in developed and emerging countries. Originality/value – To the best of the authors' knowledge, this is the first country‐level study of its kind that attempts to explore the association of sustainable development in businesses with CSR and accounting standards.

Journal

International Journal of Accounting and Information Management – Emerald Publishing

Published: Sep 20, 2011

Keywords: Sustainable development in businesses; Corporate social responsibility; Accounting standards; Customer satisfaction; Senior manager availability

References

  • Standardizing sustainability reporting
    Adams, C.; Narayan, V.
  • Globalization, US foreign investments and accounting standards
    Akisik, O.; Pfeiffer, R.
  • Stakeholder Approach to Corporate Governance – Managing in a Dynamic Environment
    Alkhafaji, A.F.
  • The effect of international institutional factors on properties of accounting earnings
    Ball, R.; Kothari, S.P.; Robin, A.
  • Does financial liberalization spur growth?
    Bekaert, G.; Harvey, C.R.; Lundblad, C.
  • The world price of earnings opacity
    Bhattacharya, U.; Daouk, H.; Welker, M.
  • Ownership and Control: Rethinking Corporate Governance for the Twenty‐first Century
    Blair, M.M.
  • The sustainability policy of five leading European retailers
    Bobe, C.‐M.; Dragomir, V.D.
  • It takes one to convince on: a case study of Johnson & Johnson's history of sustainability reporting content analysis
    Borkowski, S.C.; Walsh, M.J.; Wentzel, K.
  • Sustainable ‘what’? A cognitive approach to understanding sustainable development
    Byrch, C.; Kearins, K.; Milne, M.; Morgan, R.
  • Stakeholders: the case in favour
    Campbell, A.
  • Measuring strategic performance
    Chakravarthy, B.
  • IFRS, Fair Value and Corporate Governance – The Impact on Budgets
    Chorafas, D.N.
  • A stakeholder framework for analyzing and evaluating corporate social performance
    Clarkson, M.
  • Sustainable development – definitions, principles, policies
    Daly, H.E.
  • Social and environmental reporting in the annual reports of large companies in France
    Damak‐Ayadi, S.
  • Sustainable Development
    Das, K.
  • Use of IFRS by jurisdiction
    Deloitte Touche Tohmatsu Limited
  • Differences between domestic accounting standards and IAS: measurement, determinants and implications
    Ding, Y.; Hope, O.‐K.; Jeanjean, T.; Stolowy, H.
  • Sustainable development and environmental accounting: concepts, trends and quality of accounting information
    Dumitrana, M.; Jianu, I.; Laptes, R.; Popa, A.F.
  • Integrated Reporting for a Sustainable Strategy
    Eccles, R.G.; Krzus, M.P.
  • Improving sustainability performance: specifying, implementing and measuring key principles
    Epstein, M.J.; Roy, M.‐J.
  • Moving to Greener Pastures? Multinationals and the Pollution Haven Hypothesis
    Eskeland, G.; Harrison, A.E.
  • Multicollinearity in regression analysis: the problem revisited
    Farrar, D.E.; Glauber, R.R.
  • Financial reporting policy in a dynamic environment
    Faux, J.; Wixe, V.
  • Sustainability: a business responsibility
    Fenwick, R.
  • Accounting Standards Codification
    Financial Accounting Standards Board
  • Strategic Management – A Stakeholder Approach
    Freeman, E.R.
  • Revisiting Sirgy's corporate performance measurement model: towards a mangement audit that captures corporate social responsibility
    Gao, T.; Sirgy, M.J.
  • Sustainability Reporting Guidelines
    Global Reporting Initiative (GRI)
  • Ecology, sustainability, and environment as capital
    Harte, M.J.
  • Strategies for sustainable development: use of a benchmarking tool to understand relative strengths and weaknesses and identify best practice
    Hemming, C.; Pugh, S.; Williams, G.; Blackburn, D.
  • Determinants of pollution abatement in developing countries: evidence from South and Southeast Asia
    Hettige, H.; Huq, M.; Pargal, S.; Wheeler, D.
  • Shareholder value, stakeholder management, and social issues: what's the bottom line?
    Hillman, A.J.; Keim, G.D.
  • Financial statement effects of adopting International Accounting Standards: the case of Germany
    Hung, M.; Subramanyam, K.R.
  • Measuring corporate environmental performance
    Ilinitch, A.Y.; Soderstrom, N.S.; Thomas, T.E.
  • An Improved Conceptual Framework
    International Accounting Standards Board
  • Sustainability Framework/Financial Investors
    International Federation of Accountants
  • Standards (IFRSs)
    International Financial Reporting System Foundation
  • IMD World Competitiveness Yearbook
    International Institute for Management Development
  • The Theory and Practice of Econometrics
    Judge, G.G.; Griffiths, W.E.; Hill, R.C.; Lütkepohl, H.; Lee, T.‐C.
  • A Guide to Econometrics
    Kennedy, P.
  • A simple tool for qualitatively testing, quantitatively measuring, and normatively justifying Savage's subjective expected utility
    Köbberling, V.; Wakker, P.P.
  • The intergration of corporate governance in corporate social responsibility disclosures
    Kolk, A.; Pinkse, J.
  • KPMG International Survey of Corporate Responsibility Reporting 2008
    KPMG
  • Law and finance
    La Porta, R.; Lopez‐de‐Silanes, F.; Shleifer, A.; Vishny, R.W.
  • Shareholding versus stakeholding: a critical review of corporate governance
    Letza, S.; Sun, X.; Kirkbride, J.
  • Financial intermediation and growth: causality and causes
    Levine, R.; Loayza, N.; Beck, T.
  • Accounting and Financial System Reform in a Transition Economy: A Case Study of Russia
    McGee, R.W.; Preobragenskaya, G.G.
  • The role of corporate social responsibility in strong sustainability
    Málovics, G.; Nagypál Csigéné, N.N.; Kraus, S.
  • The virtue matrix: calculating the return on corporate responsibility
    Martin, R.L.
  • Perspectives on multinational enterprises in emerging economies
    Meyer, K.E.
  • Strategic Management
    Miller, A.
  • Alternative disciplinary mechanisms in different corporate systems
    Moerland, P.W.
  • Corporate Governance – A Survey of OECD Countries
    OECD
  • Financial dependence and growth
    Rajan, R.G.; Zingales, L.
  • Embedding corporate responsibility and sustainability ‐ everybody's business
    Rake, M.; Grayson, D.
  • Sustainability
    Richwine, E.
  • Overview of Environmental Liability Disclosure Requirements, Recent Developments
    Roberts, R.Y.
  • Corporate Governance in Asia
    Roche, J.
  • Corporate sustainability accounting
    Schaltegger, S.; Burritt, R.
  • Shareholder value or stakeholder value? That is the question
    Shaw, R.
  • International convergence of accounting practices: choosing between IAS and US GAAP
    Tarca, A.
  • Business Strategy for Sustainable Development: Leadership and Accountability for the 90s
    The International Institute for Sustainable Development
  • Corporate responsibility audits: doing well by doing good
    Waddock, S.; Smith, N.
  • Environmental disclosures and public policy pressure
    Walden, W.D.; Schwartz, B.N.
  • Big Business, Big Responsibilities
    Wales, A.; Gorman, G.; Hope, D.
  • Comparing utility functions in efficiency terms or, what kind of utility functions do we want?
    Wesibrod, B.A.
  • Building a sustainability strategy into the business
    White, P.
  • World Development Indicators and Global Development Finance
    (The) World Bank
  • Our Common Future
    World Commission on Environment and Development
  • Governance, employees, and CSR: integration is the key to unlocking value
    Young, S.; Thyil, V.
  • Havens, Halos and Spaghetti: untangling the evidence about foreign direct investment and the environment
    Zarsky, L.