Intra-industry environmental disclosures in response to the Alaskan oil spill: a note on legitimacy theory
Article Abstract:
Preston and Post argued in their 1975 publication, 'Private Management and Public Policy,' that business organizations use social disclosures as a tool for responding to their significant publics' continually shifting perceptions. In accordance to Preston and Post's legitimacy theory, the annual report environmental disclosures of 21 oil companies were examined to see if the Exxon Valdez oil spill disaster of 1989 had an impact on them. It was found that environmental disclosures among these companies increased significantly after the disaster. In 1988, oil firms devoted an average of .61 pages to environmental disclosures, a figure that rose to 1.9 pages in 1989. Findings seem to support Preston and Post's legitimacy theory which proposes that businesses whose legitimacy is threatened tend to offer more social responsibility information to the public.
Publication Name: Accounting, Organizations and Society
Subject: Business
ISSN: 0361-3682
Year: 1992
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Determinants of corporate social responsibility disclosure: an application of stakeholder theory
Article Abstract:
Ullman (1985) introduced a model explaining corporate social responsibility activities employing a stakeholder approach to strategic management proposed by Freeman and colleagues in 1983. A study was conducted to test the effectivity of this stakeholder framework in predicting one particular activity, that of social responsibility disclosure. Results substantiated the framework's ability in predicting not only corporate social disclosure, but also its levels as they relate to stakeholder power, strategic posture and economic performance.
Publication Name: Accounting, Organizations and Society
Subject: Business
ISSN: 0361-3682
Year: 1992
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The market reaction to social responsibility disclosures: the case of the Sullivan Principles signings
Article Abstract:
Market response to social responsibility disclosures was studied. Stock trading volume and price returns were examined to determine the effect of the 1977 disclosures regarding the agreement of some US firms in South Africa to adhere to the Sullivan Principles, which offered equal economic opportunities to non-white employees. The results indicated that firms not agreeing to the Sullivan Principles experienced considerably higher unexpected trading volume near the time of the disclosures.
Publication Name: Accounting, Organizations and Society
Subject: Business
ISSN: 0361-3682
Year: 1990
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