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Corporate Social Responsibility
Finance & Accounting
Pages 5 (1255 words)
Corporate Social Responsibility (CSR) refers to companies are require by law and regulations to take responsibility for their actions that have degrading effects on society and specifically on environment.
Corporate Social Responsibility reporting usually brings company graph higher which encourages more stakeholders, shareholders and investors. Many researches reveal the fact that through communicating CSR reports whether internally or externally, the ultimate benefit goes to the corporation. CSR reporting is usually related with positive virtues of the corporations which confirms that corporation is working in accordance with societal obligations specified by the law. CSR reporting helps its stakeholders to create their critical opinion upon firm’s activities and these opinions keep firm under the regulatory control. Number of researches supports the argument that CSR communication and information mostly attract stakeholders to the firm but besides attraction too much communication and information can also be seen as company is hiding some of its unlawful actions and through CSR communication they are trying to maintain their public relations. CSR regulatory surveillance and critical opinion of shareholders have been developed strongly and are increasing continuously. Nowadays, the critical opinion of regulators or stakeholders does not only influence company’s decisions but its impact can be seen throughout the society and throughout the production process of the company. ...
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