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Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate soci
Finance & Accounting
Pages 6 (1506 words)
Do Corporate Social Responsibility (CSR) Reports Provide Shareholders and Stakeholders with Useful Information on Corporate Social and Environmental Performance or are they Merely a Public Relations Vehicle? By Student Name Course Institution Date Do Corporate Social Responsibility (CSR) Reports Provide Shareholders and Stakeholders with Useful Information on Corporate Social and Environmental Performance or are they Merely a Public Relations Vehicle?
This view is consistent with stakeholder theory which holds that firms are under a duty to take account of the interest “of all parties affected by their actions” (Branco & Rodrigues, 2007, p. 7). In this regard, CSR involves a variety of issues reflecting the firm’s societal involvement and include ethics, governance, philanthropy, product and environmental safety, human rights and social engagement (Branco & Rodrigues, 2007). The question for consideration is whether or not firms report on their CSR practices as a means of providing useful information about their CSR performance or whether or not CSR reporting is merely an exercise in public relations. Accountants who were traditionally concerned about financial reporting, play a significant role in social reporting and ensuring that firms account for their compliance with corporate social responsibility (CSR) (Tilt, 2009). Legitimacy theory, however, suggest that firms, rather than report on CSR, will usually file reports in response to a social/environmental issue and in an attempt to justify or “legitimise corporate actions” (Guthrie & Parker, 1989, p. 343). ...
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