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Corporate social responsibility disclosure assurance and financial performance : a cross-country study
Thesis (PhD)--University of Pretoria, 2018.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2019
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| _version_ | 1867613600592429056 |
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| access_status_str | Open Access |
| author2 | De Villiers, Charl Johannes |
| author_browse | De Villiers, Charl Johannes |
| author_facet | De Villiers, Charl Johannes |
| collection | Thesis |
| dc_rights_str_mv | © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Thesis (PhD)--University of Pretoria, 2018. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/70070 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:38:43.836Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2019 |
| publishDateRange | 2019 |
| publishDateSort | 2019 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/70070 Corporate social responsibility disclosure assurance and financial performance : a cross-country study De Villiers, Charl Johannes deklerk.marna@gmail.com De Klerk, Marna Catharina UCTD CSR assurance Financial Performance Sustainability Reporting Information Asymmetry Corporate Social Responsibility (CSR) Disclosure Economic and management sciences theses SDG-08 Economic and management sciences theses SDG-12 Economic and management sciences theses SDG-16 Thesis (PhD)--University of Pretoria, 2018. The study evaluates in a cross-country setting whether corporate social responsibility (CSR) assurance represents a signal of the quality of CSR disclosure to investors. As part of this objective, the study also evaluates whether the associations of CSR disclosure and CSR assurance with subsequent financial performance are in the same or in opposite directions. Agency Theory and information asymmetry considerations are used as basis to develop testable hypotheses. The first step is to test the association between CSR disclosure and subsequent financial performance. Next, the association between third-party assurance provided on CSR disclosure and subsequent financial performance is evaluated. The two market-based measures of financial performance chosen are share price and market-to-book ratio. The two accounting-based measures of financial performance used are actual future cash flows and actual future profitability. The study examines a sample based on the 100 largest firms from different countries included in KPMG’s 2008, 2011 and 2013 international surveys of CSR reporting practices. The measures of CSR disclosure and CSR assurance used are based on data collected by KPMG, as an independent and credible source. The overall findings show that CSR assurance does not represent a signal of the quality of CSR disclosure to investors and that the associations of CSR disclosure and CSR assurance with market-based measures of financial performance are in opposite directions. CSR disclosure included in a firm’s annual report at a level higher than the sample mean has a positive association with market-based measures of financial performance. These results are driven by firms in environmentally non-sensitive industries.1 CSR assurance has a negative association with market-based measures of financial performance. Additional tests suggest that this negative association is driven by firms in non-sensitive industries from countries where some form of CSR disclosure is required, or is in the process of being mandated. The results are robust to various additional tests. Associations of CSR disclosure and CSR assurance with accounting-based measures of financial performance are mostly not significant for the one- to three-year-ahead periods. Prior studies on the association between CSR disclosure and market-based measures of financial performance have provided inconsistent results. In respect of CSR assurance, limited prior archival studies have been conducted on the association between CSR assurance and market-based measures of financial performance. Prior research on CSR assurance did not evaluate whether associations could be different for firms in environmentally sensitive industries compared to firms in environmentally non-sensitive industries. Prior research also did not control for country-level institutional strength and country-specific characteristics. Analysing CSR disclosure together with CSR assurance in a study using the same underlying financial data made it possible to evaluate whether associations of CSR disclosure and CSR assurance with financial performance are in the same or in opposite directions. cb2026 Accounting PhD Unrestricted SDG-12: Responsible consumption and production SDG-16: Peace, justice and strong institutions SDG-08: Decent work and economic growth 2019-06-02T11:39:59Z 2019-06-02T11:39:59Z 2019/04/05 2018 Thesis de Klerk, MC 2018, Corporate social responsibility disclosure assurance and financial performance : a cross-country study, PhD Thesis, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/70070> A2019 http://hdl.handle.net/2263/70070 en © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD CSR assurance Financial Performance Sustainability Reporting Information Asymmetry Corporate Social Responsibility (CSR) Disclosure Economic and management sciences theses SDG-08 Economic and management sciences theses SDG-12 Economic and management sciences theses SDG-16 Corporate social responsibility disclosure assurance and financial performance : a cross-country study |
| title | Corporate social responsibility disclosure assurance and financial performance : a cross-country study |
| title_full | Corporate social responsibility disclosure assurance and financial performance : a cross-country study |
| title_fullStr | Corporate social responsibility disclosure assurance and financial performance : a cross-country study |
| title_full_unstemmed | Corporate social responsibility disclosure assurance and financial performance : a cross-country study |
| title_short | Corporate social responsibility disclosure assurance and financial performance : a cross-country study |
| title_sort | corporate social responsibility disclosure assurance and financial performance a cross country study |
| topic | UCTD CSR assurance Financial Performance Sustainability Reporting Information Asymmetry Corporate Social Responsibility (CSR) Disclosure Economic and management sciences theses SDG-08 Economic and management sciences theses SDG-12 Economic and management sciences theses SDG-16 |
| url | http://hdl.handle.net/2263/70070 |