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Corporate Sustainability Reporting and Stakeholders’ Interests: Evidence from China

Author

Listed:
  • Lu Xu

    (International Exchange College, Ningbo University of Technology, Ningbo 315211, China)

  • Li Xie

    (International Business School Suzhou, Xi’an Jiaotong-Liverpool University, Suzhou 215123, China)

  • Shengjun Mei

    (School of Economics and Management, Zhejiang Sci-Tech University, Hangzhou 310018, China)

  • Jianli Hao

    (Design School, Xi’an Jiaotong-Liverpool University, Suzhou 215123, China)

  • Yuqian Zhang

    (Department of Financial and Business Systems, Lincoln University, Lincoln 7647, New Zealand)

  • Yu Song

    (The XIPU Institution, Xi’an Jiaotong-Liverpool University, Suzhou 215123, China)

Abstract

This paper examines whether the adoption of the Global Reporting Initiative (GRI) by listed firms could enhance the alignment between corporate sustainability reporting and stakeholders’ interests in China. Drawing on content analysis of the environmental, social, and governance (ESG) reports of 48 selected listed firms and a questionnaire survey of 409 respondents, this study shows that most of the sampled firms with GRI adoption have more sustainability activities identified in the content analysis than their peers that do not follow the GRI guidelines in the same industries; both groups of firms have a similar pattern of disclosure frequency in light of the six dimensions developed in this study; and there is a disconnect between the stakeholders’ needs and the sustainability reporting practice of the sampled listed firms. The findings reflect that the current corporate social responsibility reporting practice could be interpreted as a strategic response to the government’s policy priorities, rather than a direct attempt to address stakeholders’ concerns.

Suggested Citation

  • Lu Xu & Li Xie & Shengjun Mei & Jianli Hao & Yuqian Zhang & Yu Song, 2024. "Corporate Sustainability Reporting and Stakeholders’ Interests: Evidence from China," Sustainability, MDPI, vol. 16(8), pages 1-19, April.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:8:p:3443-:d:1379302
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