IDEAS home Printed from https://ideas.repec.org/a/eee/spacre/v16y2013i1p32-45.html
   My bibliography  Save this article

Responsabilidad social corporativa vs. responsabilidad contable

Author

Listed:
  • Martínez-Ferrero, Jennifer
  • Prado-Lorenzo, José Manuel
  • Fernández-Fernández, José Miguel

Abstract

El objetivo de este trabajo es analizar si las empresas socialmente responsables muestran tendencia al uso de mejores prácticas contables, identificadas estas mediante una menor tendencia a la manipulación de resultados. Esta relación es contrastada para una muestra no-balanceada de 1.960 compañías multinacionales, no financieras y cotizadas, pertenecientes a 26 países para el período 2002–2010. La utilización en el análisis de datos de panel, mediante la aplicación del estimador método generalizador de momentos de Arellano y Bond (1991), permite evidenciar la existencia de una relación negativa entre ambas variables. Los resultados obtenidos son robustos para distintas medidas de la manipulación contable y la responsabilidad social corporativa.

Suggested Citation

  • Martínez-Ferrero, Jennifer & Prado-Lorenzo, José Manuel & Fernández-Fernández, José Miguel, 2013. "Responsabilidad social corporativa vs. responsabilidad contable," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 16(1), pages 32-45.
    • Handle: RePEc:eee:spacre:v:16:y:2013:i:1:p:32-45
    DOI: 10.1016/S1138-4891(13)70004-9
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1138489113700049
    Download Restriction: no
    File URL: https://libkey.io/10.1016/S1138-4891(13)70004-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Jeroen Weimer & Joost Pape, 1999. "A Taxonomy of Systems of Corporate Governance," Corporate Governance: An International Review, Wiley Blackwell, vol. 7(2), pages 152-166, April.
    2. Moerland, Pieter W., 1995. "Alternative disciplinary mechanisms in different corporate systems," Journal of Economic Behavior & Organization, Elsevier, vol. 26(1), pages 17-34, January.
    3. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
    4. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 2000. "Investor protection and corporate governance," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 3-27.
    5. Sandra Waddock, 2003. "Stakeholder performance implications of corporate responsibility," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 5(2/3), pages 114-124.
    6. Alberto De Miguel & Julio Pindado & Chabela De La Torre, 2005. "How do Entrenchment and Expropriation Phenomena Affect Control Mechanisms?," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(4), pages 505-516, July.
    7. Geoffrey Heal, 2005. "Corporate Social Responsibility: An Economic and Financial Framework," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 30(3), pages 387-409, July.
    8. K.V. Peasnell & P.F. Pope & S. Young, 2005. "Board Monitoring and Earnings Management: Do Outside Directors Influence Abnormal Accruals?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(7‐8), pages 1311-1346, September.
    9. Press, Eric G. & Weintrop, Joseph B., 1990. "Accounting-based constraints in public and private debt agreements : Their association with leverage and impact on accounting choice," Journal of Accounting and Economics, Elsevier, vol. 12(1-3), pages 65-95, January.
    10. Sweeney, Amy Patricia, 1994. "Debt-covenant violations and managers' accounting responses," Journal of Accounting and Economics, Elsevier, vol. 17(3), pages 281-308, May.
    11. Gillian H.H. Yeo & Patricia M.S. Tan & Kim Wai Ho & Sheng–Syan Chen, 2002. "Corporate Ownership Structure and the Informativeness of Earnings," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 29(7‐8), pages 1023-1046.
    12. Shen, Chung-Hua & Chih, Hsiang-Lin, 2005. "Investor protection, prospect theory, and earnings management: An international comparison of the banking industry," Journal of Banking & Finance, Elsevier, vol. 29(10), pages 2675-2697, October.
    13. Jose-Manuel Prado-Lorenzo & Isabel-Maria Garcia-Sanchez, 2010. "The Role of the Board of Directors in Disseminating Relevant Information on Greenhouse Gases," Journal of Business Ethics, Springer, vol. 97(3), pages 391-424, December.
    14. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
    15. Gillian H.H. Yeo & Patricia M.S. Tan & Kim Wai Ho & Sheng-Syan Chen, 2002. "Corporate Ownership Structure and the Informativeness of Earnings," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 29(7&8), pages 1023-1046.
    16. Leuz, Christian & Nanda, Dhananjay & Wysocki, Peter D., 2003. "Earnings management and investor protection: an international comparison," Journal of Financial Economics, Elsevier, vol. 69(3), pages 505-527, September.
    17. Giovanni Cespa & Giacinta Cestone, 2007. "Corporate Social Responsibility and Managerial Entrenchment," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 16(3), pages 741-771, September.
    18. Patricia M. Dechow & Richard G. Sloan & Amy P. Sweeney, 1996. "Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC," Contemporary Accounting Research, John Wiley & Sons, vol. 13(1), pages 1-36, March.
    19. Andrei Shleifer, 2004. "Does Competition Destroy Ethical Behavior?," American Economic Review, American Economic Association, vol. 94(2), pages 414-418, May.
    20. Jones, Jj, 1991. "Earnings Management During Import Relief Investigations," Journal of Accounting Research, Wiley Blackwell, vol. 29(2), pages 193-228.
    21. Hsiang-Lin Chih & Chung-Hua Shen & Feng-Ching Kang, 2008. "Corporate Social Responsibility, Investor Protection, and Earnings Management: Some International Evidence," Journal of Business Ethics, Springer, vol. 79(1), pages 179-198, April.
    22. Kothari, S.P. & Leone, Andrew J. & Wasley, Charles E., 2005. "Performance matched discretionary accrual measures," Journal of Accounting and Economics, Elsevier, vol. 39(1), pages 163-197, February.
    23. Ans Kolk & Paolo Perego, 2010. "Determinants of the adoption of sustainability assurance statements: an international investigation," Business Strategy and the Environment, Wiley Blackwell, vol. 19(3), pages 182-198, March.
    24. Levy, David L. & Kolk, Ans, 2002. "Strategic Responses to Global Climate Change: Conflicting Pressures on Multinationals in the Oil Industry," Business and Politics, Cambridge University Press, vol. 4(3), pages 275-300, November.
    25. Peter Wright & Stephen P. Ferris, 1997. "Agency Conflict And Corporate Strategy: The Effect Of Divestment On Corporate Value," Strategic Management Journal, Wiley Blackwell, vol. 18(1), pages 77-83, January.
    26. Stijn Claessens & Konstantinos Tzioumis, 2006. "Ownership and Financing Structures of Listed and Large Non‐listed Corporations," Corporate Governance: An International Review, Wiley Blackwell, vol. 14(4), pages 266-276, July.
    27. Klein, April, 2002. "Audit committee, board of director characteristics, and earnings management," Journal of Accounting and Economics, Elsevier, vol. 33(3), pages 375-400, August.
    28. Dechow, Patricia M. & Sloan, Richard G., 1991. "Executive incentives and the horizon problem : An empirical investigation," Journal of Accounting and Economics, Elsevier, vol. 14(1), pages 51-89, March.
    29. Nan Sun & Aly Salama & Khaled Hussainey & Murya Habbash, 2010. "Corporate environmental disclosure, corporate governance and earnings management," Managerial Auditing Journal, Emerald Group Publishing, vol. 25(7), pages 679-700, July.
    30. Coral B. Ingley, 2008. "Company growth and Board attitudes to corporate social responsibility," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 4(1), pages 17-39.
    31. Carol Adams & Ambika Zutshi, 2004. "Corporate Social Responsibility: Why Business Should Act Responsibly and Be Accountable," Australian Accounting Review, CPA Australia, vol. 14(34), pages 31-39, November.
    32. Diego Prior & Jordi Surroca & Josep A. Tribó, 2008. "Are Socially Responsible Managers Really Ethical? Exploring the Relationship Between Earnings Management and Corporate Social Responsibility," Corporate Governance: An International Review, Wiley Blackwell, vol. 16(3), pages 160-177, May.
    33. Teoh, Siew Hong & Welch, Ivo & Wong, T. J., 1998. "Earnings management and the underperformance of seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 50(1), pages 63-99, October.
    34. DeFond, Mark L. & Jiambalvo, James, 1994. "Debt covenant violation and manipulation of accruals," Journal of Accounting and Economics, Elsevier, vol. 17(1-2), pages 145-176, January.
    35. Park, Yun W. & Shin, Hyun-Han, 2004. "Board composition and earnings management in Canada," Journal of Corporate Finance, Elsevier, vol. 10(3), pages 431-457, June.
    36. Levy David L. & Kolk Ans, 2002. "Strategic Responses to Global Climate Change: Conflicting Pressures on Multinationals in the Oil Industry," Business and Politics, De Gruyter, vol. 4(3), pages 1-27, November.
    37. Warfield, Terry D. & Wild, John J. & Wild, Kenneth L., 1995. "Managerial ownership, accounting choices, and informativeness of earnings," Journal of Accounting and Economics, Elsevier, vol. 20(1), pages 61-91, July.
    38. Phillips, Robert & Freeman, R. Edward & Wicks, Andrew C., 2003. "What Stakeholder Theory is Not," Business Ethics Quarterly, Cambridge University Press, vol. 13(4), pages 479-502, October.
    39. Juan Pedro Sánchez‐Ballesta & Emma García‐Meca, 2007. "Ownership Structure, Discretionary Accruals and the Informativeness of Earnings," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(4), pages 677-691, July.
    40. Dima Jamali & Ramez Mirshak, 2007. "Corporate Social Responsibility (CSR): Theory and Practice in a Developing Country Context," Journal of Business Ethics, Springer, vol. 72(3), pages 243-262, May.
    41. K.V. Peasnell & P.F. Pope & S. Young, 2005. "Board Monitoring and Earnings Management: Do Outside Directors Influence Abnormal Accruals?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(7-8), pages 1311-1346.
    42. Ans Kolk, 2008. "Sustainability, accountability and corporate governance: exploring multinationals' reporting practices," Business Strategy and the Environment, Wiley Blackwell, vol. 17(1), pages 1-15, January.
    43. Petrovits, Christine M., 2006. "Corporate-sponsored foundations and earnings management," Journal of Accounting and Economics, Elsevier, vol. 41(3), pages 335-362, September.
    44. Davidson, Wallace III & Xie, Biao & Xu, Weihong, 2004. "Market reaction to voluntary announcements of audit committee appointments: The effect of financial expertise," Journal of Accounting and Public Policy, Elsevier, vol. 23(4), pages 279-293.
    45. Aguilera, Ruth V. & Flores, Ricardo G. & Vaaler, Paul M., 2007. "Is It All a Matter of Grouping? Examining the Regional Effect in Global Strategy Research," Working Papers 07-0106, University of Illinois at Urbana-Champaign, College of Business.
    46. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    47. Araceli Mora Enguidanos & Juan Manuel García Lara & Beatriz García Osma & Ana Gisbert Clemente, 2004. "La Comparabilidad De La Información Contable En Europa: Efectos De La Manipulación Contable Sobre El Nivel De Conservadurismo," Working Papers. Serie EC 2004-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    48. Pratima Bansal, 2005. "Evolving sustainably: a longitudinal study of corporate sustainable development," Strategic Management Journal, Wiley Blackwell, vol. 26(3), pages 197-218, March.
    49. Healy, Paul M., 1985. "The effect of bonus schemes on accounting decisions," Journal of Accounting and Economics, Elsevier, vol. 7(1-3), pages 85-107, April.
    50. Isabel-María García-Sánchez, 2010. "The effectiveness of corporate governance: board structure and business technical efficiency in Spain," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 18(3), pages 311-339, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Monica Ramos Montesdeoca & Agustín J. Sánchez Medina & Felix Blázquez Santana, 2019. "Research Topics in Accounting Fraud in the 21st Century: A State of the Art," Sustainability, MDPI, vol. 11(6), pages 1-31, March.
    2. António Samagaio & Tiago Andrade Diogo, 2022. "Effect of Computer Assisted Audit Tools on Corporate Sustainability," Sustainability, MDPI, vol. 14(2), pages 1-20, January.
    3. Suárez Fernández, Óscar, 2016. "¿Es neutral la información sobre resultados?," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 19(2), pages 204-215.
    4. Bona-Sánchez, Carolina & Pérez-Alemán, Jerónimo & Santana-Martin, Domingo J., 2017. "Sustainability disclosure, dominant owners and earnings informativeness," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 625-639.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jennifer Martínez-Ferrero & Isabel Gallego-Álvarez & Isabel María García-Sánchez, 2015. "A Bidirectional Analysis of Earnings Management and Corporate Social Responsibility: The Moderating Effect of Stakeholder and Investor Protection," Australian Accounting Review, CPA Australia, vol. 25(4), pages 359-371, December.
    2. Fung, Simon Y.K. & Goodwin, John, 2013. "Short-term debt maturity, monitoring and accruals-based earnings management," Journal of Contemporary Accounting and Economics, Elsevier, vol. 9(1), pages 67-82.
    3. Abdullah Alsaadi & M. Shahid Ebrahim & Aziz Jaafar, 2017. "Corporate Social Responsibility, Shariah-Compliance, and Earnings Quality," Journal of Financial Services Research, Springer;Western Finance Association, vol. 51(2), pages 169-194, April.
    4. Ali Meftah Gerged & Khaldoon Albitar & Lara Al‐Haddad, 2023. "Corporate environmental disclosure and earnings management—The moderating role of corporate governance structures," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 2789-2810, July.
    5. Abdullah Alsaadi, 2021. "Can Inclusion in Religious Index Membership Mitigate Earnings Management?," Journal of Business Ethics, Springer, vol. 169(2), pages 333-354, March.
    6. Jennifer Martínez-Ferrero, 2014. "Consequences of financial reporting quality on corporate performance. Evidence at the international level," Estudios de Economia, University of Chile, Department of Economics, vol. 41(1 Year 20), pages 49-88, June.
    7. Cuadrado Ballesteros, Beatriz & García Rubio, Raquel & Martínez Ferrero, Jennifer, 2015. "Efecto de la composición del consejo de administración en las prácticas de responsabilidad social corporativa," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 18(1), pages 20-31.
    8. Jennifer Martínez-Ferrero & Shantanu Banerjee & Isabel María García-Sánchez, 2016. "Corporate Social Responsibility as a Strategic Shield Against Costs of Earnings Management Practices," Journal of Business Ethics, Springer, vol. 133(2), pages 305-324, January.
    9. Dechow, Patricia & Ge, Weili & Schrand, Catherine, 2010. "Understanding earnings quality: A review of the proxies, their determinants and their consequences," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 344-401, December.
    10. Jesus Sáenz González & Emma García-Meca, 2014. "Does Corporate Governance Influence Earnings Management in Latin American Markets?," Journal of Business Ethics, Springer, vol. 121(3), pages 419-440, May.
    11. Jiang, Fuxiu & Ma, Yunbiao & Wang, Xue, 2020. "Multiple blockholders and earnings management," Journal of Corporate Finance, Elsevier, vol. 64(C).
    12. Marra, Antonio & Mazzola, Pietro & Prencipe, Annalisa, 2011. "Board Monitoring and Earnings Management Pre- and Post-IFRS," The International Journal of Accounting, Elsevier, vol. 46(2), pages 205-230, June.
    13. Chang, Jui Chin & Sun, Heuy Lian, 2009. "Crossed-listed foreign firms' earnings informativeness, earnings management and disclosures of corporate governance information under SOX," The International Journal of Accounting, Elsevier, vol. 44(1), pages 1-32, March.
    14. Jorge Farinha & Luis Filipe Viana, 2006. "Board structure and modified audit opinions: the case of the Portuguese Stock Exchange," CEF.UP Working Papers 0609, Universidade do Porto, Faculdade de Economia do Porto.
    15. Sha, Yezhou & Qiao, Lu & Li, Suyang & Bu, Ziwen, 2021. "Political freedom and earnings management," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    16. Chanchal Chatterjee, 2020. "Board Quality and Earnings Management: Evidence from India," Global Business Review, International Management Institute, vol. 21(5), pages 1302-1324, October.
    17. Yijiang Zhao & Kung H. Chen, 2008. "The Influence of Takeover Protection on Earnings Management," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 35(3‐4), pages 347-375, April.
    18. Bona-Sánchez, Carolina & Pérez-Alemán, Jerónimo & Santana-Martin, Domingo J., 2017. "Sustainability disclosure, dominant owners and earnings informativeness," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 625-639.
    19. Giuseppe Ianniello, 2015. "The effects of board and auditor independence on earnings quality: evidence from Italy," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(1), pages 229-253, February.
    20. El Diri, Malek & Lambrinoudakis, Costas & Alhadab, Mohammad, 2020. "Corporate governance and earnings management in concentrated markets," Journal of Business Research, Elsevier, vol. 108(C), pages 291-306.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:spacre:v:16:y:2013:i:1:p:32-45. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/intelligence .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.