Determinants and consequences of corporate social responsibility disclosure: A survey of extant literature

This paper systematically analyzes and synthesizes the literature on the determinants and consequences of corporate social responsibility (CSR) disclosure. The study is unique in that it synthesizes based on the geographical setting of the original research. We analyzed 135 empirical studies published in Chartered Association of Business Schools (ABS) ranked journals from 1982 to 2020. The results reveal that various global, country-specific, market-specific, and firm-specific factors are important in determining a firm's CSR disclosure policies. These factors are consistently relevant in both developed and developing economies. Furthermore, the synthesis shows that companies achieve various CSR disclosure-related benefits in the form of a better reputation, enhanced financial performance, better access to external finances, better stakeholder management, and enhanced corporate accountability. In terms of theories, we observe a high heterogeneity among various studies examining the same empirical phenomenon. Based on the analysis and review results, we identify avenues for future research.

Automated summary

This paper provides a systematic analysis and synthesis of literature on the determinants and consequences of corporate social responsibility (CSR) disclosure. The uniqueness of this study lies in its synthesis based on the geographical setting of the original research. The analysis of 135 empirical studies published in Chartered Association of Business Schools (ABS) ranked journals from 1982 to 2020 reveals the importance of various global, country-specific, market-specific, and firm-specific factors in determining a firm's CSR disclosure policies, which are consistently relevant in both developed and developing economies. The synthesis also highlights the benefits companies derive from CSR disclosure, including a better reputation, enhanced financial performance, improved access to external finances, effective stakeholder management, and enhanced corporate accountability. Additionally, the study observes a high heterogeneity in theories among studies examining the same empirical phenomenon, suggesting avenues for future research.