Does the institutional environment affect CSR disclosure? The role of governance

• Autor(a) principal: Miras Rodríguez, María del Mar
• Data de Publicação: 2016
• Outros Autores: Escobar Pérez, Bernabé
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Revista de Administração de Empresas
• Texto Completo: https://periodicos.fgv.br/rae/article/view/64793
• topic: Corporate governance; Disclosure; Corporate social responsibility; Institutional environment; Ownership structure; Gobierno corporativo; Divulgación de información; Responsabilidad social corporativa; Entorno institucional; Estructura de propiedad; Governança corporativa; Divulgação de informações; Responsabilidade social corporativa; Cultura nacional; Estrutura acionista

The aim of this article is to analyze whether the institutional environment has a direct effect on Corporate Social Responsibility (CSR) reporting practices or if this effect is explained by the influence of the institutional environment on Corporate Governance (CG) mechanisms. To conduct our study, we focused on two countries that reflect different types of institutional environment: relation-based (Brazil) and rule-based (Spain). Based on our results, we can affirm that the institutional environment influences CG mechanisms (Board Size and Reference Shareholder) as well as companies’ CSR disclosure. Additionally, the CG mechanisms affected by the institutional environment also help to explain differences in CSR reporting practices. As relation-based societies evolve into rules-based environments, the information disclosed about CSR becomes more complex due to a strengthening of CG mechanisms.