This study collates potential economic effects of mandated disclosure and reporting standards for corporate social responsibility (CSR) and sustainability topics. We first outline key features of CSR reporting. Next, we draw on relevant academic literatures in accounting, finance, economics, and management to discuss and evaluate the potential economic consequences of a requirement for CSR and sustainability reporting for U.S. firms, including effects in capital markets, on stakeholders other than investors, and on firm behavior. We also discuss issues related to the implementation and enforcement of CSR and sustainability reporting standards as well as two approaches to sustainability reporting that differ in their overarching goals and materiality standards. Our analysis yields a number of insights that are relevant for the current debate on mandatory CSR and sustainability reporting. It also points scholars to avenues for future research.

本研究整理了企业社会责任 (CSR) 和可持续性主题的强制性披露和报告标准的潜在经济影响。我们首先概述 CSR 报告的主要特征。接下来，我们利用会计、金融、经济学和管理学领域的相关学术文献，讨论和评估美国公司企业社会责任和可持续发展报告要求的潜在经济后果，包括对资本市场、投资者以外的利益相关者的影响，以及关于坚定的行为。我们还讨论了与 CSR 和可持续发展报告标准的实施和执行相关的问题，以及两种总体目标和重要性标准不同的可持续发展报告方法。我们的分析产生了许多与当前关于强制性企业社会责任和可持续性报告的辩论相关的见解。它还为学者指出了未来研究的途径。