The Relationship between Social Visibility and CSR Disclosure

The aim of this research is to investigate the link between different proxies of social visibility such as company size, company profitability, environmental sensitivity, and multinational subsidiary with CSR disclosure. This study used a content analysis method to extract CSR-related information from the annual reports of 253 listed companies of Pakistan. The collected data was analyzed through a multiple linear pooled regression analysis technique. The results showed that company size, company profitability, environmental sensitivity, and to be a multinational subsidiary have a significant positive relationship with CSR disclosure. This indicates that different aspects of corporate social visibility are associated with CSR disclosure. We assert that highly socially visible companies, prone to pressures from various actors of the society such as the media, NGOs, the government, and other stakeholders, appear to disclose CSR information to manage relationships with these actors.