Online CSR Disclosures of Philippines’ Top 30 Publicly-Listed Companies

  • Jesus P. Briones University of Batangas
Keywords: Online CSR disclosures, Content analysis, Publicly-listed companies, Philippine Stock Exchange, Corporate social responsibility

Abstract

This study investigated the extent of online CSR disclosures of the top 30 publicly-listed companies in the Philippines. Employing the content analysis approach, the study determined the CSR index of each company using Khasharmeh & Desoky’s approach (2013). Findingsrevealed that all the companies have stand alone section in their corporate websites where CSR activities are disclosed with “CSR” or “Sustainability” as the most popular heading. The study also found out that among the four CSR category themes,information related to community involvement, and environment themes are generally prioritized compared with the other category themes. Thesubject-companies havebelowaverage level of disclosure with overall disclosure index of 27.93. The study concluded that online CSR disclosures significantly varies along the four category themes while length of business of operation is considered as the only determinant of CSR disclosures among the firm attributes covered in the study.

References

Abu Sufian, M. (2012). Corporate social responsibility disclosure in Bangladesh. Global Journal of Management and Business Research, 12(14), 149-155.

Amran, A. (2012). Exploring online sustainability disclosure among Malaysian company. Procedia – Social and Behavioral Sciences, 65(0), 761-767. doi.org/10.1016/j.sbspro.2012.11.196.

ASEAN Up. (2019.) Top 30 companies from the Philippines’ PSEi. Retrieved from http://bit.ly/2kBj103.

Baele, A. (2012). The CEO’s perception on CSR: A determinant of CSR reporting (Master’s thesis, Ghent University, Belgium). Retrieved from https://bit.ly/2LFdaDb.

Barako, D. G., Hancock, P., & Iszan, H. Y. (2006). Factors influencing voluntary corporate disclosure by Kenyan companies. Corporate Governance: An International Review, 14(2), 107-125.

Bayoud, N. S., Kavanagh, M., & Slaughter, G. (2012). Factors influencing levels of corporate social responsibility disclosure by Libyan firms: A mixed study. International Journal of Economics and Finance, 4(4). 13-29.

Boesso, G., & Kumar, K. (2007). Drivers of corporate voluntary disclosure: A framework and empirical evidence from Italy and the United States. Accounting, Auditing & Accountability Journal, 20(2), 269-296.

Bonson, E., & Escobar, T. (2002). A survey on voluntary disclosure on the internet: Empirical evidence from 300 European Union companies. The International Journal of Digital Accounting Research, 2(1), 27-51.

Branco, M. C., & Rodrigues, L. L. (2006). Communication of corporate social responsibility by Portuguese banks. Corporate Communications, 11(3), 232-2248. doi.101.1108/13563280610680821.

Bravo, R., Matute, J., & Pina, J. M. (2012). Corporate social responsibility as a vehicle to reveal the corporate identity: A study focused on the websites of Spanish financial entities. Journal of Business Ethics, 107(2), 129-146. doi.10.1007/s10551-011-1027-2.

Business World. (2019). SEC issues rules for listed firms’ reports on sustainability. Retrieved from https://bit.ly/2m87Xbd.

Castelo, M., & Lima, L. (2006). Communication of corporate social responsibility by Portuguese banks: A legitimacy theory perspective. Corporate Communications, 11(3), 232-248.

Chapple, W., & Moon, J. (2005). Corporate social responsibility (CSR) in Asia: A seven-country study of CSR website reporting. Business and Society, 44(4), 415-441.

Desoky, A. (2009). Company characteristics as determinants of internet financial reporting in emerging markets: The case of Egypt. Research in Accounting in Emerging Economies, 9(1), 31-71. doi: 10.1108/S1479-3563(2009)0000009004.

Elsayed, A. N. M. E. (2010). Key determinants of the voluntary adoption of corporate internet reporting and its consequence on firm value: Evidence from Egypt. (Doctoral dissertation, University of Plymouth, United Kingdom). Retrieved from http://bit.ly/37OsaoD.

Erdiaw-Kwasie, M. O., Alam, K., & Kabir, E. (2017). Modelling corporate stakeholder orientation: Does the relationship between stakeholder background characteristics and corporate social performance matter?. Business Strategy and the Environment, 26(4), 465-479. doi.org/10.1002/bse.1930.

Ettredge, M., Richardson, V., & Scholz, S. (2002). Dissemination of information for investors at corporate websites. Journal of Accounting and Public Policy, 21, 357-369.

Fukukawa, K., & Moon, J. (2004). A Japanese model of corporate social responsibility? A study of website reporting. The Journal of Corporate Citizenship, 16(Winter), 45-59.

Garcia, A. A., Arimany-Serrat, N., Salazar, C. U., & Aliberch, A. S. (2016). Web communication of CSR and financial performance: A study of Catalan meat companies. Intangible Capital, 12(2), 319-419. doi.org/10.3926/ic.590.

Ghazali, N. A. M. (2007). Ownership structure and corporate social responsibility disclosure: Some Malaysian evidence. Corporate Governance, 7(3), 251-266.

Grudic Kvasic, S., Cerovic, L., & Olgic Drazenovic, B. (2016). Online corporate social responsibility reporting in the Croatian banking sector. International Public Administration Review. 14(4), 9-26.

Haji, A. A. (2013). Corporate social responsibility disclosures over time: Evidence from Malaysia. Managerial Auditing Journal, 28(7), 4-14.

Hamid, F. Z. A. (2004). Corporate social disclosure by banks and finance companies: Malaysian evidence. Corporate Ownership and Control, 1(4), 118-130.

Hassan, N. H. C., Yusoff, H., & Yatim, N. (2012). Disclosing social responsibility information via the internet: A study on companies in Malaysia. International Journal of Arts and Commerce, 1(5), 83-96.

Hinson, R., Boateng, R., & Madichie, N. (2010). Corporate social responsibility activity reportage on bank websites in Ghana. International Journal of Bank Marketing, 18(2), 117-134. doi:10.15240/tul/001/2015-2-009.

Homayoun, S., Abdul Rahman, R., Johansson, J., & Malmstrom, M. (2012). Internet corporate social responsibility disclosure among Malaysian listed companies. BIOINFO Financial Management, 2(1), 42-50.

Khasharmeh, H. A., & Desoky, A. M. (2013). On-line corporate social responsibility disclosures: The case of the Gulf Cooperation Council (GCC) countries. Global Review of Accounting and Finance. 4, 39-64.

Lakatos, E. S., Gazdac, R. M., & Dan, V. (2012). Using the web by Finnish SME’s for corporate social responsibility activities. Advanced Materials Research, 463, 1186-1189.

Md Zaini, S., Samkin, G., Sharma, U., & Davey, H. (2018). Voluntary disclosure in emerging countries: A literature review. Journal of Accounting in Emerging Economies, 8(1), 29-65.

Mohd Ghazali, N. A. (2007). Ownership structure and corporate social responsibility disclosure: Some Malaysian evidence. Corporate Governance, 38(4), 251-266.

Moreno, A., & Capriotti, P. (2009). Communicating CSR, citizenship and sustainability on the web. Journal of Communication Management, 13(2), 157-175. doi.org/10.1108/13632540910951768.

Patten, D. M. (2002). Give or take on the internet: An examination of the disclosure practices of insurance firm web innovators. Journal of Business Ethics, 36(3), 247-259. doi.10.1023/A:1014009229437.

Ponnu, C. H., & Okoth, M. O. A. (2009). Corporate social responsibility disclosure in Kenya: The Nairobi stock exchange. African Journal of Business Management, 3(10), 601-608. doi: 10.5897/AJBM09.118.

Porter, M. E., & Kramer, M. R. (2006). Strategy & society: The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78-92.

Pozniak, L., Ferauge, P., Arnone, L., & Geerts, A. (2011). Determinants of internet corporate social responsibility communication. Global Journal of Business Research, 5(4), 1-14.

Rahim, N. A. (2016). The extent of online corporate social responsibility (CSR) disclosure: The Malaysian Context. Journal of Global Business and Social Entrepreneurship, 2(5),12-24.

Ramasamy, B., & Ting, H. W. (2004). A comparative analysis of corporate social responsibility awareness: Malaysian and Singaporean firms. The Journal of Corporate Citizenship, 13, 109-123.

Rouf, M. A. (2011). The corporate social responsibility disclosure: A study of listed companies in Bangladesh. Business and Economics Research Journal, 2(3), 19-32.

Said, R., Zainuddin, Y. H., & Haron, H. (2009). The relationship between corporate social responsibility disclosure and corporate governance characteristics in Malaysian public listed companies. Social Responsibility Journal, 5(2), 212-226.

Sanil, H. S., & Ramakrishnan, S. (2015). Communicating the corporate social responsibility on the company website: A study conducted on worldwide accredited production certified apparel manufacturers in India. International Journal of Economics and Financial Issues, 5(Special Issue), 52-56.

Sobhani, F. A., Amran, A., & Zainuddin, Y. (2012). Sustainability disclosure in annual reports and websites: A study of the banking industry in Bangladesh. Journal of Cleaner Production, 23(1), 75-85.

Suwaidan, M. S. (2004). Social responsibility disclosure and corporate characteristics: The case of Jordanian industrial companies. International Journal of Accounting, Auditing and Performance Evaluation, 1(4), 432-447.

Thompson, P., & Zakaria, Z. (2004). Corporate social responsibility reporting in Malaysia: Progress and prospects. The Journal of Corporate Citizenship. 13(Spring), 125-136.

Wanderley, L. S. O., Lucian, R., Farache, F., & de Sousa Filho, J. M. (2008). CSR information disclosure on the web: A context-based approach analysing the influence of country of origin and industry sector. Journal of Business Ethics, 82(2), 369-378. doi.10.1007/s10551-008-9892-z.

Published
2020-03-26
How to Cite
Jesus P. Briones. (2020). Online CSR Disclosures of Philippines’ Top 30 Publicly-Listed Companies. International Journal of Business and Society, 21(1), 63-78. https://doi.org/10.33736/ijbs.3223.2020