Authors: Sepideh Parsa, Reza Kouhy, Christos Tzovas
Addresses: Middlesex University Business School, The Burroughs, Hendon, London NW4 4BT, UK. ' The Division of Accounting & Finance, Glasgow Caledonian University Business School, 70 Cowcaddens Road, Glasgow, G4 0BA, Scotland, UK. ' Athens University of Business and Economics, 76 Patission Ave, 104 34 Athens, Greece
Abstract: Theoretically, corporate social responsibility should be embedded in corporate governance structures. This paper presents evidence that this is not the case for listed UK companies. Our evidence shows that in the presence of less stringent regulatory requirements, companies tend to disclose less social information in comparison to mandatory governance information. The observed positive association between social and governance information disclosure levels provides supporting evidence that companies with more transparent governance structures tend to be socially conscientious. The paper also empirically shows that the level of social information disclosure tends to vary with the size and industrial affiliation of companies, providing further evidence that listed UK companies are still treating social information as a tool to project a legitimate image.
Keywords: social information; information disclosure; business governance; transparency; governance structures; legitimacy; UK; United Kingdom; corporate social responsibility; CSR.
International Journal of Business Governance and Ethics, 2007 Vol.3 No.3, pp.205 - 222
Published online: 01 Jul 2007 *Full-text access for editors Access for subscribers Purchase this article Comment on this article