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Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate soci - Essay Example
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 Contents Introduction 3 Discussion 3 Stakeholder theory 4 Legitimacy theory 5 Principal Agent Theory 6 Conclusion 7 Reference 8 Introduction Corporate Social Responsibility (CSR) reports are published by many corporations, but what constitutes a CSR report is still excusive…
With this report the companies aim to improve the communications between the broader society and the corporate world. These are collectively called an accounting to the society. CSR report includes the financial facts that are the key interest of the investor. This report discusses the relations it has with all its stakeholders like employees, communities, customers, suppliers, governments and environment. In this report the stakeholders of firms can take look at whether the corporate social responsibility report provides the shareholders and all the stakeholders with useful information or it is just a public relation vehicle for the company. Discussion The readers of a CSR report expect that the company should go beyond simple community affairs in their report. Companies which are new to this CSR reporting may confine the CSR reports to reporting only the charitable giving and the volunteer programs. Corporations are now increasingly expected to issue the CSR repost to their stakeholders. A CSR report which focuses only on the community is too narrow to be considered as a comprehensive reporting on their commitments to the community through the CSR report (Brennan and Merkl-Davies, p. 121). ...
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