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Does Institutional Context Affect CSR Disclosure? A Study on Eurostoxx 50

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  • Daniela Coluccia

    (University of Rome, Sapienza, 00185 Roma, Italy)

  • Stefano Fontana

    (University of Rome, Sapienza, 00185 Roma, Italy)

  • Silvia Solimene

    (University of Rome, Sapienza, 00185 Roma, Italy)

Abstract

We propose to investigate the relationship between corporate social responsibility disclosure and institutional/environmental factors among a sample of European listed companies. We find that, by using several traditional explicative variables, institutional factors affect the level of CSR disclosure, in a context where the EU Commission has been paying growing attention to social and environmental accountability of listed companies (see the EU Dir. 95/2014). Our findings are further supported by multivariate regression, where ESG score (measure of CSR disclosure) is regressed on nine variables which represent the expression of institutional factors. By looking at the institutional determinants of CSR disclosure, we are seeking to pose a challenge for future research agenda, in order to understand whether CSR does actually reflect an effective commitment of firms to accounting practices and rules, as a form of social behavior, or whether it is just a tool to manage stakeholders’ perception and to comply with regulation.

Suggested Citation

  • Daniela Coluccia & Stefano Fontana & Silvia Solimene, 2018. "Does Institutional Context Affect CSR Disclosure? A Study on Eurostoxx 50," Sustainability, MDPI, vol. 10(8), pages 1-20, August.
    • Handle: RePEc:gam:jsusta:v:10:y:2018:i:8:p:2823-:d:162828
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    References listed on IDEAS

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    5. Obiamaka A. Nwobu & Collins C. Ngwakwe, 2020. "Corporate Responsibility Reporting in Africa: The Effect of Macroeconomic Indicators and Political Regime," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(10), pages 1203-1219, October.
    6. Bárcena-Ruiz, Juan Carlos & Sagasta, Amagoia, 2022. "International trade and environmental corporate social responsibility," Energy Economics, Elsevier, vol. 115(C).
    7. Carmelo Reverte, 2022. "The importance of institutional differences among countries in SDGs achievement: A cross‐country empirical study," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1882-1899, December.
    8. Khan, Muhammad Arif, 2022. "ESG disclosure and Firm performance: A bibliometric and meta analysis," Research in International Business and Finance, Elsevier, vol. 61(C).
    9. Dorfleitner, Gregor & Kreuzer, Christian & Sparrer, Christian, 2022. "To sin in secret is no sin at all: On the linkage of policy, society, culture, and firm characteristics with corporate scandals," Journal of Economic Behavior & Organization, Elsevier, vol. 202(C), pages 762-784.
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