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Consequences of CSR reporting regulations worldwide: a review and research agenda

Author

Listed:
  • Abdifatah Ahmed Haji
  • Paul Coram
  • Indrit Troshani

Abstract

Purpose - This study reviews research that examines economic and behavioural consequences of CSR reporting regulations. Specifically, the authors evaluate the impact of CSR reporting regulations on (1) reporting quality, (2) capital-markets and (3) firm behaviour. Design/methodology/approach - The authors first describe the stated objectives and enforcement level of CSR reporting regulations around the world. Second, the authors review over 130 archival studies in accounting, finance, economics, law and management that examine consequences of the regulations. Findings - The stated objectives and enforcement of CSR reporting regulations vary considerably across countries. Empirical research finds no significant changes in reporting quality and generally concludes that CSR reporting continues to be ceremonial rather than substantive after the regulations – consistent with corporate legitimation and “greenwashing” views. In contrast, growing evidence shows both positive and negative capital-market and real effects of the regulations. Overall, the findings from this review indicate that, on balance, there remains a significant number of questions on the net effects of CSR reporting regulations. Originality/value - The authors offer a comprehensive review of the literature examining consequences of CSR reporting regulations. The authors identify apparent tensions in studies assessing different outcomes after the regulations: between symbolic reporting and positive capital-market outcomes; between profitability and CSR; and between CSR and the welfare of non-shareholder groups. Additionally, we highlight differences in the scope and stated objectives of CSR regulations across countries, with the regulations often reflecting socio-economic development and national interests of implementing countries. Collectively, our review indicates that institutional details are crucial when considering the design or consequences of CSR reporting regulations and/or standards.

Suggested Citation

  • Abdifatah Ahmed Haji & Paul Coram & Indrit Troshani, 2022. "Consequences of CSR reporting regulations worldwide: a review and research agenda," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 36(1), pages 177-208, April.
  • Handle: RePEc:eme:aaajpp:aaaj-05-2020-4571
    DOI: 10.1108/AAAJ-05-2020-4571
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    Citations

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    Cited by:

    1. Simone Pizzi & Giovanni Mastroleo & Andrea Venturelli & Fabio Caputo, 2024. "The digitalization of sustainability reporting processes: A conceptual framework," Business Strategy and the Environment, Wiley Blackwell, vol. 33(2), pages 1040-1050, February.
    2. Stefania Veltri & Elena Cristiano & Olga Ferraro, 2023. "Examining the quality of the consolidated mandatory non‐financial statements of a cooperative banking group: A longitudinal analysis," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1573-1587, July.

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