Accounting for the environment : more talk and little by Martin Freedman, Bikki Jaggi

By Martin Freedman, Bikki Jaggi

Advances in environmental accounting & administration goals to augment the certainty of worldwide environmental concerns, in particular valuation and disclosure of environmental effect of corporations' actions, encouraging administration to enhance companies' environmental functionality and disclosures. The sequence additionally desires to make administration, traders and different stakeholders conscious of the capability monetary and financial outcomes of  Read more...

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Misery loves companies: Rethinking social initiatives by business. Administrative Science Quarterly, 48, 268À305. , & Schneeweis, T. (1988). Corporate social responsibility and firm financial performance. Academy of Management Journal, 31(4), 854À872. , & Siegel, D. (2000). Corporate social responsibility and financial performance: Correlation or misspecification? Strategic Management Journal, 21, 603À609. Moser, D. , & Martin, P. R. (2012). A broader perspective on corporate social responsibility research in accounting.

In this context, MCS play a fundamental role due to the fact that in the organizations the objectives that are pursued and the actions that are implemented are those for which managers are responsible and upon which they are evaluated and rewarded. , 2012), in which environmental, social and economic goals are expected to be achieved simultaneously in a ‘triple bottom line’ logic (Elkington, 1997). Notwithstanding more recent developments in hybrid and non-financial measurement systems and research suggesting that financial and non-financial information can be considered equally important for strategy development (Bhimani & Langfield-Smith, 2007), traditional MCS are seen to be limited in their ability to address the interests of a broad range of stakeholders other than shareholders and to handle environmental and social issues as well as their interrelationships with financial ones (Bonacchi & Rinaldi, 2007; Burritt & Schaltegger, 2010; Durden, 2008; 28 ANGELO DITILLO AND IRENE ELEONORA LISI Norris & O’Dwyer, 2004).

This may explain why firms appear to avoid environmental responsibility, and focus more on market responsibility. Correlation Matrix Table 3 provides a Pearson’s correlation matrix for the variables considered for testing Hypothesis 1 (ROE, CSR, SIZE, GROW, and DEBT). The 15 Corporate Social Responsibility and Financial Performance Table 3. ROE CSR SIZE GROW DEBT Pearson’s Correlation Coefficients (r). 06 1 ROE, return on equity; CSR, corporate social responsibility development index; SIZE, natural logarithm of total assets; GROW, growth rate of revenue; DEBT, debt ratio (=total liabilities/ total assets).

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