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Web-based impression management? Salient features for CSR disclosure prominence
Sustainability Accounting, Management and Policy Journal ( IF 3.964 ) Pub Date : 2020-01-06 , DOI: 10.1108/sampj-08-2018-0221
Sabrina Chong , Asheq Rahman

The purpose of this paper is to identify the web-based features of corporate social responsibility (CSR) disclosure that play a role in making CSR information prominent to investors and give the information better recognition for investment decisions.,The authors posit a positive association between the company’s capital market performance and the web-based features used for CSR disclosure by the company. The authors argue that the more effective the feature is in enhancing the prominence of CSR information, the higher is the share turnover and market value of shares of a company, and the lower is its share prices’ bid-ask spread. Five specific web-based features, namely, the location, accessibility, medium, variety and extent of disclosure are identified as features used for web-based CSR disclosure. The research framework is drawn from Brennan and Merkl–Davies’ (2013) impression management strategies and Merton’s (1987) “investor recognition hypothesis”.,The findings show that visual and structural emphases of CSR information via specific web-based features enhance information prominence and could favourably influence investors’ impression towards the company. Investors are likely to make investment decisions in favour of the company, resulting in a higher share turnover along with increased market value of the shares of the company and lower bid-ask spread of its share prices.,The paper highlights the significance of utilisation of web-based features in enhancing CSR information prominence for impression management purposes.,The findings have the potential to benefit preparers, users and policymakers by enhancing their knowledge and understanding of the utilisation of web-based CSR disclosure features. Specifically, preparers will be more aware of web-based feature(s) that could be useful in projecting CSR-related information to their stakeholders.,The study will help enhance the dissemination of web-based CSR information.,The study adds to the literature on web-based CSR disclosure, by developing a structured approach to examine the effectiveness of web-based features for investors’ impression management.

中文翻译:

基于网络的印象管理?企业社会责任披露突出的显着特征

本文的目的是确定企业社会责任 (CSR) 披露的基于网络的特征,这些特征在使 CSR 信息向投资者突出并为投资决策提供更好的信息识别方面发挥作用。公司的资本市场表现以及公司用于企业社会责任披露的网络功能。笔者认为,该特征越能有效提升企业社会责任信息的显着性,公司股票的换手率和市值越高,其股价的买卖价差就越低。五个特定的基于网络的特征,即位置、可访问性、媒体、披露的种类和范围被确定为用于基于网络的 CSR 披露的特征。研究框架取自 Brennan 和 Merkl–Davies (2013) 印象管理策略和 Merton (1987) 的“投资者认可假设”。研究结果表明,通过特定的基于网络的特征对企业社会责任信息的视觉和结构重点增强了信息的突出性并可能有利地影响投资者对公司的印象。投资者很可能会做出有利于公司的投资决策,从而导致更高的股票换手率、更高的公司股票市值和更低的股价买卖价差。,本文强调了利用为印象管理目的而增强 CSR 信息显着性的基于网络的功能。,研究结果有可能使准备者受益,用户和政策制定者通过增强他们对基于网络的 CSR 披露功能的使用的知识和理解。具体而言,编制者将更加了解基于网络的功能,这些功能可能有助于向其利益相关者投射 CSR 相关信息。,该研究将有助于加强基于网络的 CSR 信息的传播。,该研究增加了通过开发一种结构化的方法来检查基于网络的功能对投资者印象管理的有效性,研究基于网络的企业社会责任披露的文献。
更新日期:2020-01-06
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