Corporate Social Responsibility (CSR) Disclosure Initiatives by Entrepreneurial Firms in Developed and Developing Countries: A Systematic Literature Review

This systematic literature review examines the nature and extent of corporate social responsibility (CSR) disclosure initiatives by entrepreneurial firms in different countries over the period 2011 to 2023. Using the PRISMA protocol, the study reviewed 43 high-quality Scopus-indexed articles to identify trends, differences, and driving factors of CSR disclosure across different continents. The findings provide evidence-based insights into three key research questions: (1) CSR disclosure practices vary significantly across continents due to different regulatory frameworks, cultural norms, and economic development levels. Europe is leading the way with strict regulations and a strong cultural focus on sustainability, resulting in comprehensive CSR reporting. In Asia, government policies in countries like China and regional regulations in Southeast Asia are increasing CSR transparency. Africa presents a mixed scenario: South Africa is showing remarkable progress, while other countries are still developing their frameworks. (2) CSR initiatives are disclosed through various channels, including annual reports, sustainability reports, and corporate websites, with practices varying between developed and emerging markets. (3) Factors influencing CSR disclosure include regulatory frameworks, cultural values, stakeholder pressures, and corporate governance structures. Legal obligations and shareholder expectations drive disclosure in Europe, while in Asia government policies and regulatory requirements are critical. Cultural factors and ownership structures also play an important role, particularly in developing countries. These findings provide a comprehensive understanding of the global landscape of entrepreneurial firms’ CSR disclosure practices.