Corporate Social Responsibility and Compare Financial Statements

Subject Areas : Investments

Babak Jamshidinavid ¹ , Maryam Mansouri ²

1 - Department of Accounting, Faculty of humanities, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran.
2 - Master of Accounting, Faculty of Humanities, Kermanshah branch, Islamic Azad University, Kermanshah, Iran.

Received: 2021-04-12 Accepted : 2021-08-23 Published : 2021-03-21

Keywords: Corporate Social Responsibility, Agency Theory, Stakeholder Theory, Comparability of Financial Statements,

Abstract :

Provision and presentation of quality information is a prerequisite for decision making by stakeholders of business units. One of the features of this information is having the ability to compare with other peer companies, as one of the quality features of this information. Social responsibility can affect the qualitative characteristics of financial reporting. Therefore, the purpose of this study is to investigate the relationship between corporate social responsibility and the ability to compare financial statements as one of the most important features of financial reporting. To achieve the purpose of the study, the composite data of 114 companies listed on the Tehran Stock Exchange in the period 2010-2020 were analyzed using multivariate linear regression. Findings showed that there is a positive and significant relationship between corporate social responsibility and the ability to compare financial statements. Based on these findings, it can be said that social responsibility obliges company managers to adhere to their ethical commitments and provide accurate and quality information to their stakeholders. To do this, they use quality and similar standards and procedures that help reduce information asymmetries at the company level, employees, stakeholders, peer companies and even the capital market.

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King, R., G. Pownall, and G. Waymire. 1990. Expectations adjustment via timely management forecasts: Review, synthesis, and suggestions for future research. Journal of accounting Literature 9(1): 113-144.‏

Kotchen, M., and J. J. Moon. 2012. Corporate social responsibility for irresponsibility. The BE Journal of Economic Analysis and Policy 12(1): 1-23.

Lee, D. 2017. Corporate social responsibility and management forecast accuracy. Journal of Business Ethics 140(2): 353-367.‏

Linthicum, C., A. L. Reitenga, and J. M. Sanchez. 2010. Social responsibility and corporate reputation: The case of the Arthur Andersen Enron audit failure. Journal of Accounting and Public Policy 29(2): 160-176.‏

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Schipper, K. 2003. Principles-based accounting standards. Accounting horizons 17(1): 61-72.‏

Shafer, W. E. 2015. Ethical climate, social responsibility, and earnings management. Journal of Business Ethics 126(1): 43-60.‏

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Wang, F., Z. Zhang, and L. Xu. 2020. Corporate social responsibility and financial statement comparability: Evidence from China. Corporate Social Responsibility and Environmental Management 27(3): 1375-1394.‏

Wang, X., F. Cao, and K. Ye. 2018. Mandatory corporate social responsibility (CSR) reporting and financial reporting quality: Evidence from a quasi-natural experiment. Journal of Business Ethics 152(1): 253-274.‏

Wans, N. 2020. Corporate social responsibility and market-based consequences of adverse corporate events: Evidence from restatement announcements. Journal of Accounting, Auditing and Finance 35(2): 231-262.‏

Yeh, C. C., F. Lin, T. S. Wang, and C. M. Wu. (2020). Does corporate social responsibility affect cost of capital in China? Asia Pacific Management Review 25(1): 1-12.

Zhang, J. H. 2018. Accounting comparability, audit effort, and audit outcomes. Contemporary Accounting Research 35(1): 245-276.‏