Provide a Model for Exposing Corporate Sustainability and Evaluating Factors Related to Its Organizing Legitimacy Theory

Subject Areas :

مظفر  پورخانی ذاکله بری ¹ (گروه حسابداری، واحد تهران مرکزی، دانشگاه آزاد اسلامی، تهران، ایران.)
آزیتا  جهانشاد ² (گروه حسابداری، واحد تهران مرکزی، دانشگاه آزاد اسلامی، تهران، ایران)

Received: 2021-01-09 Accepted : 2021-03-16 Published : 2021-04-21

Keywords: Keywords: Company Sensitivity in the Industr, , Company Location, Company Lifespan, Disclosure of Corporate Sustainability,

Abstract :

The purpose of this study is first to provide a model for corporate sustainability disclosure and then the impact of factors related to the theory of legitimacy on corporate sustainability reporting. In this research, 117 qualified companies on the Tehran Stock Exchange have been studied. To test the hypotheses, purposive sampling method and panel regression models have been applied. The research findings show that out of a total of 169 components studied 80 components are essential for the corporate sustainability model. Also, the sensitivity of the company in the industry has a substantial positive effect on the overall index of sustainability including the disclosure of the economic, environmental and social aspects, but it has no remarkable impact on the disclosure of sustainability from the public aspect.The location of the company has a significant positive effect on the disclosure of corporate sustainability from a social point of view, but the disclosure has no significant impact on the overall corporate sustainability index in terms of public, economic and environmental aspects. Finally, the lifespan of the company has a meaningful positive influence on the overall index and all aspects of corporate sustainability. The result of this study shows the importance of requiring non-financial information disclosure for legislators and standardizers. It also improves the beneficiaries’ awareness of these aspects and encourages companies to disclose corporate sustainability information.  

References:

فهرست منابع

1)   اصولیان، محمد، محمدرضا عباسپور نوغانی و مهدی داوری، (1395)، "تأثیر ارزش ویژه برند بر سودآوری شرکت"، چشم‌انداز مـدیریتمالی، دوره ششم، شماره 2، صص 9-21.

2)   برایسون، جان ام، (1390)، "برنامه‌ریزی استراتژیک در سازمان‌های دولتی، عمومی و غیرانتفاعی"، (مهدی خادمی گراشی و قربان برارنیا (ادبی))، تهران: انتشارات آریانا قلم، (1998).

3)   ستایش، محمد حسینو زینب مهتری، (1397)، "چارچوبیبرایکلیاتمبانینظریگزارشگرییکپارچهدرایران"، پژوهش‌هایحسابداریمالی، سالدهم،شمارهدوم،پیاپی (36)، صص 106-85

4)   طالب نیا، قدرت الله، رضیه علی خانی و مهدی مران جوری، (1391)، "ارزیابی کمیت و ماهیت افشاء اطلاعات حسابداری زیست‌محیطی و اجتماعی در ایران"، مجله بررسی‌های حسابداری و حسابرسی، 19 (69)، صص 60-43

5)   عبداله زاده، حسن و وحید امین، (1399)، "تأثیر نظریه رفتار برنامه ریزی شده، تعهد اخلاقی وادراک ریسک بر تمایل به حسابداری و گزارشگری پایداری شرکتی"، دو فصلنامه حسابداری ارزشی و رفتاری، دوره پنجم، شماره 9، صص 299-269

6)    عبدی، مصطفی، سعید همایون و مهدی کاظمی علوم، (1399)، "بررسی تأثیر ویژگی‌های کمیته‌های حسابرسی بر سطح گزارشگری پایداری"، دو فصلنامه حسابداری ارزشی و رفتاری، دوره پنجم، شماره 9، صص 369-335

7)   عرب صالحی، مهدی، غزل صادقی و معین الدین محمود، (1393)، "رابطه مسئولیت اجتماعی با عملکرد مالی در بورس اوراق بهادار تهران"، مجله پژوهش‌های تجربی حسابداری، 3 (12). صص 20-1

8)   فخاری، حسین، مهدی مهرابی، مالک یبلویی خمسلویی و احمد قاسمی، (1394)، "عوامل مؤثر بر گزارشگری پایداری شرکت‌ها"، سومین کنفرانس بین‌المللی پژوهش‌های کاربردی در مدیریت و حسابداری، تهران، دانشگاه شهید بهشتی.

9)   کردلو، محمد رضا، اشکان رحیم زاده و بهرام محمدی، (۱۳۹۶)، "ضرورت تهیه گزارشگری پایداری؛ اصول و ساختار آن"، فصلنامه پژوهش‌های جدید در مدیریت و حسابداری، 4 (2).

10) معصومی، سیدرسول، سیدحسن صالح نژاد و علی ذبیحی زرین کلایی، (1397)، "شناسایی متغیرهای مؤثر بر میزان گزارشگری پایداری شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران"،دانش حسابرسی،18 (70)، صص 221-195

11) مهدوی، غلامحسین، عباسعلی دریائی، رضیه علی خانی و مهدی مران جوری، (1394)،"بررسی رابطه بین اندازه شرکت، نوع صنعت و سودآوری با افشای اطلاعات حسابداری زیست‌محیطی و اجتماعی"، سال چهارم، شماره 15، صص 103-87

12) مهرانی، کاوه و سیدحسین شاکری طاهری، (1399)، "تدوین چارچوب گزارشگری پایداری شرکتی "، پژوهش‌های تجربی حسابداری، شماره 38

13)  AbdurRouf, MD. (2011), “Corporate Social Responsibility Disclosure”, Business and Economics Research Journal, 2 (3), PP. 19-32.

14)  Aktas, R., K.Kayalidere, and M. Kargin. (2017), “Corporate Sustainability Reporting andAnalysis of Sustainability Reports in Turkey”, International Journal of Economics andFinance, 5(3), PP. 113-125.

15)  Alvareza, I. G., and E. Ortas. (2017), "Corporate Environmental Sustainability Reporting in the Context of National Cultures: A Quantile Regression Approach", International Business Review, 26 (2), PP. 337–353.

16)  Buallay, A., and J. Al-Ajmi. (2019), “The Role of Audit Committee Attributes inCorporate Sustainability Reporting: Evidence from Banks in the GulfCooperation Council”, Journal of Applied Accounting Research, PP. 1-17.

17)  Castelo Branco, M. and L. Lima Rodrigues. (2006), “Communication ofCorporateSocial Responsibility by Portuguese Banks: a LegitimacyTheory Perspective”, Corporate Communications: An InternationalJournal 11 (3), PP. 232-248.

18)  Cerin, P. (2002), “Communication in Corporate Environmental Reports. - Corporate Social”, Responsibility and Environmental Management, 9 (1), PP. 46-66.3.

19)  Clarkson, P. M., Y. Li, G.D. Richardson and F.P. Vasvari. (2011), “Does itReally Pay to Be Green? Determinants and Consequences of ProactiveEnvironmental Strategies”, Journal of Accounting and Public Policy 30(2), PP. 122-144.

20)  Clarkson, P.M., Y. Li., G.D. Richardson and F.P. Vasvari. (2008), “Revisiting the Relation between Environmental Performance and Environmental Disclosure: an Empirical Analysis”, Accounting Organizations and Society 33(4), PP. 303-327.

21)  Elijido-Ten., E. Kloot, and P.M. Clarkson. (2010), “Extending theApplication of Stakeholder Influence Strategies to Environmental Disclosures: An Exploratory Study From A Developing Country Accounting”, Auditing & Accountability Journal, 23 (8), PP. 1032–1059.

22)  Fatemi, A., M. Glaum and S. Kaiser. (2018), “ESG Performance and Firm Value:the Moderating Role of Disclosure”, Global Finance Journal 38, PP. 45-64.

23)  Freeman, R.E. (2010), “Strategic Management. A Stakeholder Approach”, Cambridge University Press, Cambridge.

24)  Freeman, R.E. (1984), “Strategic Management: A Stakeholder Approach”, Pitman, Boston.

25)  Frost, G., Jones, S. and Lee, P. (2012), “The Measurement and Reporting of Sustainability Information within the Organization: a Case Analysis”, in Jones, S. and Ratnatunga, J. (Eds.), Contemporary Issues in Sustainability Accounting, Assurance and Reporting. Emerald, Bingley, PP. 197-225.

26)  Gray, R. H. , M. Javad., D. M. Power., and C. D. Sinclair. (2001), “SocialandEnvironmental Disclosure and Corporate Characteristics: A Research Note and Extension”,Journal of Business Finance andAccounting, 28, PP. 327–356.

27)  Gray, R., K. Kouhy and S. Lavers. (2008), “Corporate Social and EnvironmentalReporting: a Review of the Literature and a Longitudinal Study of UKDisclosures Accounting”, Auditing and Accountability Journal 8 (2), PP. 47-77.

28)  Guthrie, J. and L.D. Parker. (1989), “Corporate Social Reporting: a Rebuttal of Legitimacy Theory”, Accounting and Business Research, 19 (76), PP. 343-352 [in Persian].

29)  Guthrie, J., S. Cuganesan, and L. Ward. (2008), “Industry Specific Socialand Environmental Reporting: The Australian Food and BeverageIndustry”, Accounting Forum, 32, PP. 1-15.

30)  Hanifa, R. M. and T. E. Cooke. (2005), “The Impact of Culture andGovernance on Corporate Social Reporting”, Journal of Accounting and Public Policy, 24, PP. 391-430.

31)  Horisch, J., R.E. Freeman, S. Schaltegger. (2014), “Applying Stakeholder Theory inSustainability Management”, Links, Similarities, Dissimilarities, and a Conceptual Framework. Organ. Environ. 27, 328e346. https://doi.org/10.1177/1086026614535786.

32)  Jensen, M. and W. Meckling. (1976), “Theory of the Firm: Managerial Behavior,Agency Costs and Ownership Structure”, Journal of Financial Economics3 (3), PP. 305-360.

33)  Jones, J. M. (2011), “The Nature, Use and Impression Management of Graphs in Social and Environmental Accounting”, Accounting Forum 35, PP. 75-89.

34)  Kaspersen. M., and T. R. Johansen. (2016), “Changing Social and Environmental Reporting Systems”, Journal of Business Ethics, 135, PP. 731-749.

35)  Kleine, A., M. von Hauff. (2017), “Sustainability-driven Implementation of CorporateSocial Responsibility”, Application of the Integrative Sustainability Triangle. J. Bus.Ethics 85, 517e533. https://doi.org/10.1007/s10551-009-0212-z.

36)  Kou, L., C. Yeh, and H. Yu. (2012), “Disclosure of Corporate Social Responsibility and Environmental Management: Evidence from China”, 19, PP. 273-287.

37)  Kraten, M. (2014), “Sustainability The Accounting Perspective”, TheCPA Journal, PP. 11- 14.

38)  Leftwich, R.W., R.L. Watts and J.L. Zimmerman. (1981), “Voluntary CorporateDisclosure: the Case of Interim Reporting”, Journal of AccountingResearch 18 (1), PP. 50-77

39)  Lingenfelder, D. and A. Thomas. (2011), “Stakeholder Inclusiveness in Sustainability Reporting by Mining Companies Listed on the Johannesburg Securities Exchange”, African Journal of Business Ethics, Vol. 5, No. 1, PP. 1-13.

40)  Lodhia, S., N. Martin. (2014), “Corporate Sustainability Indicators”, An AustralianMining Case Study. J. Clean. Prod. 84, 107e115. https://doi.org/10.1016/j.jclepro.2014.05.050.

41)  Maas, K., S. Schaltegger, N. Crutzen. (2016), “Integrating Corporate Sustainability Assessment, Management Accounting, Control, and Reporting”, J. Clean. Prod. 1e12. https://doi.org/ 10.1016/j.jclepro.2016.05.008.

42)  Moldavska, A., T. Welo. (2016), “Development of Manufacturing Sustainability Assessment Using Systems Thinking”, Sustainability 8. https://doi.org/10.3390/ su8010005.

43)  Prado-Lorenzo, J. M., I. Gallego-Alvarez, and I. M. Garcia-Sanchez. (2009), “Stakeholder Engagement and Corporate Social Responsibility Reporting: the Ownership Structureeffect”, Corporate Social Responsibility and Environmental Management, Vol. 16, No. 2, PP. 94-107.

44)  Qian, C., X. Gao, and A. Tsang. (2015), “Corporate Philanthropy, Ownership Type, and Financial Transparency”, Journal of Business Ethics, 130(4), PP. 851-867.

45)  Rezaee, Z. (2016), “Business Sustainability Research: A Theoretical andIntegrated Perspective”, Journal of Accounting Literature 36, PP. 48-64.

46)  Roosa, S.A. (2010), “Sustainable Development Handbook”, 2nd ed., The Fairmont Press, GA.

47)  Saleh, M., N. Zulkifli, and R. Muhamad. (2010), “Corporate Social Responsibility Disclosure and Its Relation on Institutional Ownership”, Managerial Auditing Journal, 25 (0), PP. 591–613.

48)  Schaltegger, S. and M. Wagner. (2006), “Managing Sustainability Performance Measurement and Reporting in an Integrated Manner: Sustainability Accounting as the Link between the Sustainability Balanced Scorecard and Sustainability Reporting”, in Schaltegger, S., Bennett, M. and Burritt, R. (Eds.), Sustainability Accounting and Reporting. Springer, Dordrecht, The Netherlands, PP. 681-697.

49)  Tilling, M. V. (2004), “Some Thoughts on Legitimacy Theory in Social andEnvironmental Accounting”, Social and Environmental AccountabilityJournal 24 (2), PP. 3-7.

50)  Wang, D. S. (2007), “Economics of Money Banking and Financial Markets”, Beijing: Perking University Press.

51)  Weber, M. (2008), “The Business Case for Corporate Social Responsibility: A Company- Level Measurement Approach for CSR”, European Management Journal 26 (4), PP. 247-61

52)  Yang, J. (2011), “Shang Shi Gong si She Hui ze ren bao gao pi lu yin su yan jiu [Research on the Factors Influencing Listed Compaines’ Corporate Social Responsibility Report Disclosure] (Unpublished Master’s Thesis). South-Western University of Finance and Economics, Cheng Du.

53)  Zhang, J. (2017), “Users’ Perceptions of the Drivers for Corporate Sustainability Disclosures Made by Chinese Listed Companies”, Retrieved from htps://ro.ecu.edu.au/theses/1952.

 

 

یادداشت‌ها