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| Author: | Reverte, C. |
| Title: | Determinants of corporate social responsibility disclosure ratings by Spanish listed firms |
| Journal: | Journal of Business Ethics
2009 : AUG II, VOL. 88:2, p. 351-366 |
| Index terms: | corporate responsibility social responsibility disclosure listed companies Spain |
| Freeterms: | CSR media exposure |
| Language: | eng |
| Abstract: | This paper aims to analyze whether a number of firm and industry characteristics, and also media exposure, are potential determinants of corporate social responsibility (CSR) disclosure practices by Spanish listed firms. It is found that firms with higher CSR ratings present a statistically significant larger size and a higher media exposure, belonging to more environmentally sensitive industries, as compared to firms with lower CSR ratings. Yet, neither profitability nor leverage appear to explain differences in CSR disclosure practices btw. Spanish listed firms. Media exposure is the most influential variable for explaining firms' variation in CSR ratings, followed by size and industry. Thus, it seems that the legitimacy theory is the most relevant theory for explaining CSR disclosure practices of Spanish listed firms. |
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