THE EFFECTS OF GREENHOUSE GAS EMISSIONS AND GOVERNANCE FACTORS ON CORPORATE SOCIALLY RESPONSIBILITY DISCLOSURE

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Abstract

This paper investigates the impact of a plausible set of determinants, namely, greenhouse gas (GHG) emissions, Dow Jones Sustainability Index (DJSI), anti-bribery policy, the industry’s profile and the company’s size on the extent of CSR disclosure in the United States (US). The Environmental, Social and Governance (ESG) disclosure score is used as a proxy for the extent of CSR disclosure calculated by Bloomberg, incorporating different - in terms of importance - disclosure items. The relationship between the extent of CSR disclosure and its determinants was examined using multiple linear regression analysis incorporating 133 companies listed in S&P Composite 1500 Index for the year 2011. The results illustrate that the company’s size, GHG emissions, DJSI and anti-bribery policy are significantly positively associated with the extent of CSR disclosure. In addition, there are significant differences among the industries’ profile concerning the extent of CSR disclosure. The results cannot be generalized because the sample is based on US listed companies for the year 2011. This study presents initial empirical data investigating different types of disclosures and determinants which extend the scope of previous studies.

Keywords: Corporate Social Responsibility, Disclosure, Greenhouse Gas Emissions, Dow Jones Sustainability Index, Anti-bribery Policy, Industry

How to cite this paper: Sariannidis, N., Konteos, G., & Giannarakis, G. (2015). The effects of greenhouse gas emissions and governance factors on corporate socially responsibility disclosure. Corporate Ownership & Control, 12(2), 92-106. https://doi.org/10.22495/cocv12i2p8