This document summarizes a research paper that analyzes the history and trends in non-financial reporting titles among FT 500 corporations from 1989 to 2007. It focuses on the frequency of the terms "environment", "sustainability", and "responsibility" in titles over time. The number of non-financial reports issued grew substantially over this period. "Environment" was initially more common in titles but peaked in 2001 and declined, while "sustainability" and "responsibility" continued growing in popularity. The document discusses theories for why corporations adopt new keywords in non-financial reporting titles.
Triple Bottom Line (TBL) is a societal and ecological agreement between the community and
businesses. TBL “captures the essence of sustainability by measuring the impact of an organization’s
activities on the world ... including both its profitability and shareholder values and its social, human
and environmental capital” (Savitz, 2006). TBL is an accounting framework that incorporates three
dimensions of performance: social, environmental and financial. This differs from traditional
reporting frameworks, as besides financial part it also includes ecological (or environmental) and
social measures where it is difficult to assign appropriate means of measurement. But with the
current breakdown of confidence in financial reporting, large companies are facing increasing
demands and expectations from stakeholders and are being held more accountable for their
performance and actions. TBL approach is a proactive step in providing shareholders with increased
transparency and a broader framework for decision-making. It’s a great way for companies to
disclose meaningful non-financial results. TBL dimensions are also commonly called the three Ps:
People, Planet and Profits.
Triple Bottom Line Reporting (TBLR) reflects a corporation’s greater transparency and
accountability in its public reporting, communication and disclosure with regard to how the corporate
entity performs in its environmental, social and economic dimensions (Lewis, 2011). TBLR
incorporates presenting what the business is doing well, along with areas that need improvement.
Reporting in this way demonstrates a drive towards increased transparency, which can mitigate
concerns by stakeholders on hidden information. Everyone involved in the process of TBL, including
employees and external stakeholders, can increase their knowledge of the company and expand their
relationships with other stakeholders in the company. Participating in a learning environment is
beneficial and necessary for a business to meet the goals of sustainability. The process of building a
Page 3
sustainable environment can lead to other disclosures on how the business world can lend a helping
hand in protecting the natural resources that are quickly evaporating.
Today stakeholders becomes more and more aware of the ecological and social footprints adopted by multinational companies (MNCs) worldwide, accountability, transparency and governance issues are considered to be main stream agenda in the corporate boardroom discussion. Sustainability reporting evaluates the performance of company’s based on three distinct parameters such as economic, environmental and societal. Triple Bottom Line Reporting (subsequently refer to as TBLR) goes beyond the traditional way of reporting mechanism and encourages businesses to give closer attention to the whole impact of their commercial activities, over &above their financial performance. John Elkington strove to measure sustainability during the mid-1990s by encompassing a new framework to measure performance in corporate America. This accounting framework, called the triple bottom line (TBL), went beyond the traditional measures of profits, return on investment, and shareholder value to include environmental and social dimensions. The Corporate Triple Bottom Line (subsequently refer to as CTBL) Reporting is based on three pillars-(i) environmental, (ii) social, (iii) social causes. Corporate Triple Bottom Line (CTBL) disclosure items are handpicked from the annual reports/corporate social responsibility reports of the sample units after a thorough examination of the contents of annual reports/corporate social responsibility reports.
The level of Triple Bottom Line reporting in India is in its infancy and still evolving. The three dimensions for TBL Reporting in India are people, planet and profit, which lead to sustainable development. Present study highlights the CTBL Reporting indicators, CTBL Reporting indictors in India and the limitations of CTBL Reporting.
Corporate social reporting discloses social and environmental information relating to an organisation’s interaction with its community, shareholders, physical and social environment to outsiders through corporate annual reports. Triple Bottom Line Reporting (subsequently refer to as TBLR) goes beyond the traditional way of reporting mechanism and encourages businesses to give closer attention to the whole impact of their commercial activities, over and above their financial performance. The Corporate Triple Bottom Line Reporting is based on three pillars - (i) environmental, (ii) social, (iii) economic causes. In this study, Corporate Triple Bottom Line (CTBL) disclosure items are handpicked from the annual reports/corporate social responsibility reports/sustainability reports of the sample units after a thorough examination of the contents of annual reports/corporate social responsibility reports/sustainability reports. The level of Triple Bottom Line reporting in India is in its infancy and still evolving. The three dimensions for TBL Reporting in India are people, planet and profit, which lead to sustainable development. We have considered listed companies of Bombay Stock Exchange (BSE) comprising BSE 500 index as our population. Considering time and resource constraints, it was decided to restrict the survey only power generating companies (15 units) among those 500 units. Accordingly, annual reports/corporate social responsibility reports/sustainability reports for these 15 numbers of listed power companies were planned to be reviewed. For measuring the extent of corporate triple bottom line reporting in annual reports/corporate social responsibility reports/sustainability reports of the companies, we have constructed a weighted disclosure index based on the previous empirical studies. The study evaluated the combined corporate triple bottom line disclosure score value of the sa
Triple Bottom Line (TBL) is a societal and ecological agreement between the community and
businesses. TBL “captures the essence of sustainability by measuring the impact of an organization’s
activities on the world ... including both its profitability and shareholder values and its social, human
and environmental capital” (Savitz, 2006). TBL is an accounting framework that incorporates three
dimensions of performance: social, environmental and financial. This differs from traditional
reporting frameworks, as besides financial part it also includes ecological (or environmental) and
social measures where it is difficult to assign appropriate means of measurement. But with the
current breakdown of confidence in financial reporting, large companies are facing increasing
demands and expectations from stakeholders and are being held more accountable for their
performance and actions. TBL approach is a proactive step in providing shareholders with increased
transparency and a broader framework for decision-making. It’s a great way for companies to
disclose meaningful non-financial results. TBL dimensions are also commonly called the three Ps:
People, Planet and Profits.
Triple Bottom Line Reporting (TBLR) reflects a corporation’s greater transparency and
accountability in its public reporting, communication and disclosure with regard to how the corporate
entity performs in its environmental, social and economic dimensions (Lewis, 2011). TBLR
incorporates presenting what the business is doing well, along with areas that need improvement.
Reporting in this way demonstrates a drive towards increased transparency, which can mitigate
concerns by stakeholders on hidden information. Everyone involved in the process of TBL, including
employees and external stakeholders, can increase their knowledge of the company and expand their
relationships with other stakeholders in the company. Participating in a learning environment is
beneficial and necessary for a business to meet the goals of sustainability. The process of building a
Page 3
sustainable environment can lead to other disclosures on how the business world can lend a helping
hand in protecting the natural resources that are quickly evaporating.
Today stakeholders becomes more and more aware of the ecological and social footprints adopted by multinational companies (MNCs) worldwide, accountability, transparency and governance issues are considered to be main stream agenda in the corporate boardroom discussion. Sustainability reporting evaluates the performance of company’s based on three distinct parameters such as economic, environmental and societal. Triple Bottom Line Reporting (subsequently refer to as TBLR) goes beyond the traditional way of reporting mechanism and encourages businesses to give closer attention to the whole impact of their commercial activities, over &above their financial performance. John Elkington strove to measure sustainability during the mid-1990s by encompassing a new framework to measure performance in corporate America. This accounting framework, called the triple bottom line (TBL), went beyond the traditional measures of profits, return on investment, and shareholder value to include environmental and social dimensions. The Corporate Triple Bottom Line (subsequently refer to as CTBL) Reporting is based on three pillars-(i) environmental, (ii) social, (iii) social causes. Corporate Triple Bottom Line (CTBL) disclosure items are handpicked from the annual reports/corporate social responsibility reports of the sample units after a thorough examination of the contents of annual reports/corporate social responsibility reports.
The level of Triple Bottom Line reporting in India is in its infancy and still evolving. The three dimensions for TBL Reporting in India are people, planet and profit, which lead to sustainable development. Present study highlights the CTBL Reporting indicators, CTBL Reporting indictors in India and the limitations of CTBL Reporting.
Corporate social reporting discloses social and environmental information relating to an organisation’s interaction with its community, shareholders, physical and social environment to outsiders through corporate annual reports. Triple Bottom Line Reporting (subsequently refer to as TBLR) goes beyond the traditional way of reporting mechanism and encourages businesses to give closer attention to the whole impact of their commercial activities, over and above their financial performance. The Corporate Triple Bottom Line Reporting is based on three pillars - (i) environmental, (ii) social, (iii) economic causes. In this study, Corporate Triple Bottom Line (CTBL) disclosure items are handpicked from the annual reports/corporate social responsibility reports/sustainability reports of the sample units after a thorough examination of the contents of annual reports/corporate social responsibility reports/sustainability reports. The level of Triple Bottom Line reporting in India is in its infancy and still evolving. The three dimensions for TBL Reporting in India are people, planet and profit, which lead to sustainable development. We have considered listed companies of Bombay Stock Exchange (BSE) comprising BSE 500 index as our population. Considering time and resource constraints, it was decided to restrict the survey only power generating companies (15 units) among those 500 units. Accordingly, annual reports/corporate social responsibility reports/sustainability reports for these 15 numbers of listed power companies were planned to be reviewed. For measuring the extent of corporate triple bottom line reporting in annual reports/corporate social responsibility reports/sustainability reports of the companies, we have constructed a weighted disclosure index based on the previous empirical studies. The study evaluated the combined corporate triple bottom line disclosure score value of the sa
Term Paper: Towards a Definition of Organizational SustainabilityAntony Upward
This term paper for York University Master of Environmental Studies course ES/ENVS5150 Perspectives on Green Business (Fall 2010, Prof. Brian Milani) develops a working definition of organizational sustainability and explores the implications for the reporting of organizational performance.
This paper got a positive review from Prof. Milani who said the paper was "interesting and thoughtful".
Speeches by Moroccan Companies on Their Practice of Corporate Social Responsi...IOSRJBM
The Corporate Responsibility towards employees, today takes a major stake in the construction of the overall strategy. The subject of our article, is to make a comparison of speech on responsible for human resources management of companies, between two different sectors to Morocco on one side than the bank, and another one telecoms. The methodology is qualitative and consists of a thematic discourse analysis of three telecom operators, and its comparison with that of banks, concluding with a cognitive mapping for both sectors. The main strategic trends that emerge in each sector: A logical minimalist efficiency to the telecoms sector, and a trend towards a strategic positioning for banks.
Corporate governance in banks: Systematic literature review and meta- analysisValentina Lagasio
This paper provides a two steps investigation of the literature on banking corporate governance. We firstly perform a systematic literature review on the academics papers focused on risk management, compensation and ownership structure of banks. Then we run a meta-analysis investigation over more than 2,500 observations to clarify the understanding of the relationship with performance and risk in banks. The sub-group analysis related with bank performance shows a clear and significant finding: Board ownership, CEO ownership and Controlling shareholder enhance the performance of banks. Conversely, State ownership is negatively associated with bank performance. Results of the whole investigation and directions for scholars are also discussed.
Governance in State-Owned Enterprises Revisited - The Cases of Water and Elec...FGV Brazil
Research working paper - November 2007.
Governance in State-Owned Enterprises Revisited - The Cases of Water and Electricity in Latin America and the Caribbean.
By Luis Andres, José Luis Guasch and Sebastián Lopez Azumendi
Publication courtesy of FGV’s Center for Regulation and Infrastructure Studies (FGV/CERI).
For more information about FGV/CERI, in Portuguese, please visit: www.fgv.br/ceri
num.32 de l'UEA Magazine, del mes de juliol.
Zoom UEA, Sopar Empresarial UEA 2014 al Campus Motor Anoia, Entrevista a Xavi Camins, Entrevista a Roser Cejudo de l'Autoescola del Poble Sec, Andreu Salvadó de CEO Expocomputer i Reportatge de Caves Bohigas i del Campus Motor Anoia.
La remota AXPLC-100 es un sistema de adquisición, procesamiento y elaboración de
datos para su transmisión a un elemento superior mediante radio TETRA o GPRS
Term Paper: Towards a Definition of Organizational SustainabilityAntony Upward
This term paper for York University Master of Environmental Studies course ES/ENVS5150 Perspectives on Green Business (Fall 2010, Prof. Brian Milani) develops a working definition of organizational sustainability and explores the implications for the reporting of organizational performance.
This paper got a positive review from Prof. Milani who said the paper was "interesting and thoughtful".
Speeches by Moroccan Companies on Their Practice of Corporate Social Responsi...IOSRJBM
The Corporate Responsibility towards employees, today takes a major stake in the construction of the overall strategy. The subject of our article, is to make a comparison of speech on responsible for human resources management of companies, between two different sectors to Morocco on one side than the bank, and another one telecoms. The methodology is qualitative and consists of a thematic discourse analysis of three telecom operators, and its comparison with that of banks, concluding with a cognitive mapping for both sectors. The main strategic trends that emerge in each sector: A logical minimalist efficiency to the telecoms sector, and a trend towards a strategic positioning for banks.
Corporate governance in banks: Systematic literature review and meta- analysisValentina Lagasio
This paper provides a two steps investigation of the literature on banking corporate governance. We firstly perform a systematic literature review on the academics papers focused on risk management, compensation and ownership structure of banks. Then we run a meta-analysis investigation over more than 2,500 observations to clarify the understanding of the relationship with performance and risk in banks. The sub-group analysis related with bank performance shows a clear and significant finding: Board ownership, CEO ownership and Controlling shareholder enhance the performance of banks. Conversely, State ownership is negatively associated with bank performance. Results of the whole investigation and directions for scholars are also discussed.
Governance in State-Owned Enterprises Revisited - The Cases of Water and Elec...FGV Brazil
Research working paper - November 2007.
Governance in State-Owned Enterprises Revisited - The Cases of Water and Electricity in Latin America and the Caribbean.
By Luis Andres, José Luis Guasch and Sebastián Lopez Azumendi
Publication courtesy of FGV’s Center for Regulation and Infrastructure Studies (FGV/CERI).
For more information about FGV/CERI, in Portuguese, please visit: www.fgv.br/ceri
num.32 de l'UEA Magazine, del mes de juliol.
Zoom UEA, Sopar Empresarial UEA 2014 al Campus Motor Anoia, Entrevista a Xavi Camins, Entrevista a Roser Cejudo de l'Autoescola del Poble Sec, Andreu Salvadó de CEO Expocomputer i Reportatge de Caves Bohigas i del Campus Motor Anoia.
La remota AXPLC-100 es un sistema de adquisición, procesamiento y elaboración de
datos para su transmisión a un elemento superior mediante radio TETRA o GPRS
Documento de la Fundación Catalana per la Recerca acerca de algunos consejos para una navegación y un uso seguro de Internet, especialmente entre los más pequeños de la casa.
What You Don't Know About Event Sponsorship Today by Lance BroumandBizBash
Lance Broumand of UrbanDaddy presents What You Don't Know About Event Sponsorship Today during the Event Innovation Forum at BizBash Live: The Expo New York on October 28, 2014 at the Jacob K. Javits Convention Center.
Determinants of Corporate SocialResponsibility Disclosure .docxduketjoy27252
Determinants of Corporate Social
Responsibility Disclosure Ratings
by Spanish Listed Firms Carmelo Reverte
ABSTRACT. The aim of this paper is to analyze whether
a number of firm and industry characteristics, as well as
media exposure, are potential determinants of corporate
social responsibility (CSR) disclosure practices by Spanish
listed firms. Empirical studies have shown that CSR dis-
closure activism varies across companies, industries, and
time (Gray et al., Accounting, Auditing & Accountability
Journal 8(2), 47–77, 1995; Journal of Business Finance &
Accounting 28(3/4), 327–356, 2001; Hackston and Milne,
Accounting, Auditing & Accountability Journal 9(1), 77–108,
1996; Cormier and Magnan, Journal of International Finan-
cial Management and Accounting 1(2), 171–195, 2003; Cor-
mier et al., European Accounting Review 14(1), 3–39, 2005),
which is usually justified by reference to several theoretical
constructs, such as the legitimacy, stakeholder, and agency
theories. Our findings evidence that firms with higher
CSR ratings present a statistically significant larger size and
a higher media exposure, and belong to more environ-
mentally sensitive industries, as compared to firms with
lower CSR ratings. However, neither profitability nor
leverage seem to explain differences in CSR disclosure
practices between Spanish listed firms. The most influen-
tial variable for explaining firms’ variation in CSR ratings is
media exposure, followed by size and industry. Therefore,
it seems that the legitimacy theory, as captured by those
variables related to public or social visibility, is the most
relevant theory for explaining CSR disclosure practices of
Spanish listed firms.
KEY WORDS: corporate social responsibility disclosure,
Spain
Introduction
Over the last few decades there has been a growing
public awareness of the role of corporations in
society. Many of the firms which have been credited
with contributing to economic and technological
progress have been criticized for creating social
problems. Issues such as pollution, waste, resource
depletion, product quality and safety, the rights and
status of workers, and the power of large corpora-
tions have become the focus of increasing attention
and concern. In this context, companies have been
increasingly urged to become accountable to a wider
audience than shareholder and creditor groups. As a
matter of fact, public awareness and interest in
environmental and social issues and increased
attention in mass media have resulted in more social
disclosures from corporations in the last two decades
(Deegan and Gordon, 1996; Gray et al., 1995;
Hooghiemstra, 2000; Kolk, 2003). In the European
Union context, the publication of the Green Paper
(2001) by the European Commission launched a
wide debate on how the EU could promote cor-
porate social responsibility (CSR). Although there is
still no universal definition of CSR (Godfrey and
Hatch, 2007), mos.
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companies’ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
An Exploratory Study of Factors Influencing Corporate Sustainability on busin...AkashSharma618775
This study evaluates the effect of corporate sustainability on business performance of manufacturing
industries in USA, from 2012 to 2015. These Manufacturing industries are listed in Corporate Social
Responsibility Hub (CSRHub), Morning Star and Global Reporting Initiative (GRI). All data used in this report
were extracted from 37 manufacturing companies’ Sustainability, corporate social responsibility (CSR) and
annual reports. These companies are of diverse sectors such as Automobile, Health care, consumer goods, food,
beverages and technology. Quantitative method of research is used in this study; this also includes the use of
explanatory and descriptive research design. The main issues to be discussed in this study are Donation, Incident
rate reduction and Water Recycled as the independent variables, while Revenue is the dependent variable. Data
analysis was carried out using the regression analysis, descriptive statistics and correlation. E-views software
generated the data for further analysis. The findings imply that donation has a positive insignificance effect on
revenue, reduced incident rate reduction had positive significance effect on revenue and water recycling has
negative insignificant effect on revenue. In the future researches, larger samples of companies form diverse sectors
and subsectors should be studied to broaden the research on company performance especially the non-financial
aspect.
1- Introduce your environmental issue and your purpose of analysis.docxmonicafrancis71118
1- Introduce your environmental issue and your purpose of analysis of the impacts the issue has created and what is being done to help this issue (solutions).
2- Develop a background paragraph of the issue - the history of its development, its current situation, and its size and scope.
3- Develop a paragraph for each impact this environmental issue has on the world, explaining the impact and providing evidence of this impact from sources. (3 parghs)
4- Develop an analysis paragraph for each solution that is being used or developed – explaining the solution clearly, and discussing how this will impact the problem, discussing the impact and limitations of the solution.
5- Develop a clear conclusion summarizing your analysis process and insights gleaned from your analysis.
Reporting on long-term value creation by Canadian companies: A
longitudinal assessment
Petra F.A. Dilling a, *, Peter Harris b
a School of Management, New York Institute of Technology, 701 W Georgia St., Vancouver, BC V7Y 1K8, Canada
b School of Management, New York Institute of Technology, 26West 61st Street, New York, NY, NY 10023, USA
a r t i c l e i n f o
Article history:
Received 30 August 2017
Received in revised form
21 January 2018
Accepted 27 March 2018
Available online 27 April 2018
Keywords:
Long-term value creation
Integrated reporting
Corporate social responsibility (CSR)
Canadian extractive sector
Sustainability
Stakeholders
a b s t r a c t
In the wake of the global financial crisis, a new wave of stakeholder demands has developed calling on
companies to shift focus towards long-term value creation and moving away from a short-term earnings
emphasis. Aligned with these demands, urgent calls for more transparency and improved reporting on
both financial as well as non-financial reports have been made. The objective of this study was to analyze
longitudinal disclosure quality and quantity trends in reporting on long-term value creation of 19
publicly traded Canadian energy and mining companies. Content analysis was conducted in order to
assess disclosure on long-term value creation in annual financial and sustainability reports. The empirical
results show that the companies experienced a substantial increase in the reporting disclosure quality
and quantity. This was true for both disclosure in the annual financial reports as well as in the sus-
tainability reports. These results supported the hypotheses that Canadian public energy and mining
companies had increased their quantity and quality of long-term value creation disclosure in 2014 as
compared to 2012. Even though increases in disclosure quality could be observed (especially in the areas
of governance, responsible work practices, outside relationships and risk management), overall disclo-
sure quality (especially in areas such as connectivity between financials and sustainability sections,
materiality analysis, projects with high climate risk exposure, cost of energy, responsible work practices,
ince.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
11.isea vol 0004www.iiste.org call for paper no 2 pp. 136-148
1. Issues in Social and Environmental Accounting
Vol. 4, No. 2 December 2010
Pp 136-148
Historical Account of Key Words in
Non-Financial Report Titles
(A review of FT 500 corporations from 1989 to 2007)
Caroline D Ditlev-Simonsen
BI - Norwegian School of Management
Norway
Abstract
This paper investigates the history of, and trends in, non-financial reporting, based on title
analysis. The database consists of the titles of non-financial reports issued by FT 500 corpora-
tions from 1989 to 2007. The frequency and development of the three key words environment,
sustainability and responsibility (coded as “environment”, “sustainab” and “responsib” to catch
relevant versions) are investigated. The key words were initially applied by a few companies,
and then grew in popularity. While “sustainab” and “responsib” are still growing in popularity,
“environment” grew, peaked around 2002 and then reduced in frequency as a term in the titles.
Based on business theories, the paper discusses alternative explanations for why corporations
introduced the new key words in their non-financial reports. Whereas issuing non-financial
reports can be understood from a legitimacy perspective, the introduction of new key words in
the titles can be explained by a multitude of alternative theories.
Keywords: Non-financial reporting, environment, sustainability, responsibility, CSR
Introduction titles. Now, words containing
“sustainab” and “responsib” are more
Non-financial reports (NFRs) are volun- common in the titles. This study investi-
tary publications, usually issued together gates the development of the titles of the
with annual reports. Corporate interest in 2008 FT 500 companies’ NFRs since
societal issues has, among other things, 1989, with a special focus on the titles
resulted in an increase in the number and containing the above three key terms.
volume of such reports. From less than
26 such reports being issued in 1992, My interest in the topic originates from
3730 such reports were issued in 2009. personal experience. As head first of
The titles of these NFRs have also environmental issues, and later corporate
changed significantly. Initially responsibility issues, in one of Norway’s
“environment” was a key word in their largest corporations, I experienced the
Caroline D Ditlev-Simonsen is a Research Fellow, Associate Director Centre for Corporate Responsibility BI – Nor-
wegian School of Management, Department of Public Governance, Nydalsveien 37, 0484 Oslo, Norway, Phone +47
90 787 737, email: caroline.d.ditlev-simonsen@bi.no
2. C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148 137
process of changing the title of the com- “environment”, “sustainab” and
pany’s NFR from “Environmental” re- “responsib”, will be described. The find-
port to “Corporate Social Responsibil- ings will be discussed and the relevance
ity” report. As it was the first Norwegian of alternative business theories in ex-
company to conduct this change, I also plaining the changes in the use of key
realized the problems associated with it. words in the NFRs will be discussed.
Could the report be considered, for in- Suggestions for further research will
stance, for the prestigious annual report also be presented.
competition for best environmental re-
port? How would it be received among Developments in non-financial reporting
investors and other readers? The rapid growth in the number of NFRs
issued worldwide is illustrated in Figure
As a consultant in the field of corporate 1. Some sectors have so far been more
responsibility, I have repeatedly re- likely to issue such reports. Electricity
ceived the question “What shall we call companies are leaders in non-financial
our non-financial report?” The corporate reporting, followed by chemical compa-
process of changing titles is worth a nies, banks, transport, mining and oil
study in itself. However, this study will and gas companies. Analysis by country
not look at processes within individual reveals that UK companies are leaders in
companies, rather it will study develop- non-financial reporting followed by the
ments in the titles of NFRs with a focus USA, Japan, Germany, Australia and
on the three key words addressed above. Italy (www. CorporateRegister.com). Of
The rest of the paper will be organized course, the number of reports issued by
as follows: The next section will give an different sectors and in different coun-
overview of developments in non- tries, depends upon the size of the sector
financial reporting. Thereafter the as well as the size of the country’s econ-
method and data will be presented. In omy. Still the data gives an indication of
the following section, developments in reporting activities.
titles of NFRs, with a focus on
Figure 1. Development in Number of Non-financial Reports1 Issued Worldwide
3. 138 C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148
Why do corporations issue non- of the NFRs aimed at stakeholders can
financial reports? be manifold, for example to supply in-
formation requested by SRI, a response
Several arguments have been suggested to critical NGOs, to provide well
to explain what motivates corporations thought out information to the media on
to issue NFRs. Interpreted from an aca- current CSR related issues, to influence
demic perspective, legitimacy theory politicians, and to increase employees’
and stakeholder theory are two leading identification with their workplace. Cor-
explanations for non-financial reporting. porate relationships with stakeholders
“Legitimacy theory is based on the idea can thus be both responsive and/or pro-
that in order to continue operating suc- active (Morsing, 2006), and other stud-
cessfully, corporations must act within ies have found that stakeholders can be
the bounds of what society identifies as key drivers for non-financial reporting
socially acceptable behav- (C. D. Ditlev-Simonsen, 2010; Enquist,
iour” (O'Donovan, 2002 page 344). Johnson, & Skålen, 2006; Fry & Hock,
From this perspective, non-financial re- 1976).
porting can be perceived as something
corporations engage in because other
corporations do. Non-financial reporting Content of non-financial reports
is thus not driven by rational economic
decisions, but rather by normative or Non-financial reporting is not subject to
isomorphic drivers. “(L)egitimacy the- shared requirements, guidelines and core
ory has been recently considered as the certainties as is traditional accounting
dominant theory in the CSER re- (Gray, Kouhy, & Lavers, 1995). The
search”(M. C. Branco & Rodrigues, content, format and size of such reports
2007 page 83). The legitimacy concept therefore vary widely. A substantial
may be a more “honourable” interpreta- number of empirical studies have been
tion of non-financial reporting. The conducted to “analyse the pattern of vol-
copying concept of institutional theory untary social disclosures, many of which
(Di Maggio & Powell, 1991), sounds examine either the incidence of content
less noble but is in many ways the same of corporate annual reports and/or sepa-
thing. rate social environmental, and employee
health and safety reports” (Brammer &
Whereas legitimacy theory deals with Pavelin, 2004 page 86). Several content
societal norms and pressure, stakeholder analysis methods have been applied to
theory addresses pressure from specific conduct these studies, including by num-
individuals and/or organizations. Stake- ber of sentences, pages or portions of
holder theory is often suggested as a mo- pages, words or lines(M. C. Branco &
tivation factor for corporate non- Rodrigues, 2007).
financial activities (Freeman, 1984), in-
cluding non-financial reporting (Moreno However, “(O)ne of the main shortcom-
& Capriotti, 2009; Willis, 2003). Typical ings of this form of content analysis is
corporate stakeholders in a CSR setting that it does not allow measurement of
are investors (SRI – Social responsible the extent of information disclosure and,
investor), NGOs, media, governments/ therefore, the coded data do not reflect
authorities and employees. The purpose the emphasis that companies attach to
4. C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148 139
each information item” (M. Branco & study which investigates the develop-
Rodrigues, 2008 page 692). Due to the ment of NFR titles.
criticism regarding the application of
quantitative methods to NFR studies, the
use of qualitative studies has been sug- Method and Data Collection
gested. Several qualitative studies have
been conducted, but the categorization The data applied in this study is com-
processes have been criticized for falling piled by CorporateRegister.com. The
short because they are too subjective (M. database contains, among other things,
C. Branco & Rodrigues, 2007). titles of the NFRs issued by the FT 500
companies of 2008, in total 2354 such
Another shortcoming of content analysis reports. The first report was issued in
is the fact that it is difficult to ascertain 1989 and the database is complete to the
to what extent the content reflects volun- end of 2007.
tary activities as opposed to mandatory
activities (Dahlsrud, 2008). Furthermore, Using the excel database received, I
the volume of the NFR does not auto- have sorted data for each of the years,
matically reflect the quality of the com- and counted the number of reports as
pany’s non-financial performance either. well as the occurrence of each of the
On the contrary, research shows that three key terms “environment”,
corporations which emphasise social “sustainab” and “responsib” for each
responsiveness in their annual reports year.
are those which are under attack for be-
ing unresponsive (Fry & Hock, 1976). The reason for selecting these terms is
Finally, the extent to which the content that they are, and have been, frequently
of the NFR is actually true is also ques- applied in NFR titles (as will become
tionable (Brammer & Pavelin, 2008). evident from the graphs presented). By
shortening the terms (truncating by re-
By studying the NFR titles, this study is moving the ending) the study captures
also applying content analysis as a tool. different versions of the words:
However, given that the titles are of a “environment” includes, for example,
more limited length (compared to actual terms like environmental, environmen-
reports which can be of several hundred tally; “sustainab” includes, for example,
pages) the database material becomes terms like sustainability, sustainable;
more concise. By using title analysis I “responsib” includes, for example, terms
also avoid the pitfall of subjectivity in like responsible, responsibility.
that I will not interpret the meaning of “Responsib” will also capture Corporate
the titles, but study the frequency of key Social Responsibility (CSR) and Corpo-
words over a longer period of time. The rate Responsibility (CR) in the title.
pitfall of the trustworthiness or other- There are a multitude of other terms ap-
wise of the NFR content is also avoided. plied in NFR titles, like social, commu-
The titles of the NFRs issued are accu- nity, citizenship, health, safety and phi-
rate in themselves, independent of the lanthropy. However, to limit the scope
quality of the actual reports. and complexity of the paper, I have cho-
sen three key terms in this study.
So far I have not been able to find any
5. 140 C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148
Having identified the first time one of A final note: even though a specific FT
these three terms was introduced in 500 company introduced one of the three
NFRs, I have then identified which com- key words this does not necessary imply
panies were the first to apply it. I have that this company was the “founder” of
also looked at the subsequent years to this key word. There are thousand of
see which companies were the immedi- other companies which are not on the FT
ate followers. The names, country and 500 list of 2008 which could have been
sector of these companies will be pre- the first to introduce the term, and com-
sented in the text. This is to detect if panies on the FT 500 list may have cop-
there are particular types of companies ied the new key word. Still, knowing
(sector or country) that are either first that the FT 500 contains a significant
movers or followers. portion of the world’s largest companies,
and large companies are most active on
Given that this is a large database, a few corporate responsibility issues, I suggest
decisions had to be made in order to that to some extent the FT 500 compa-
streamline the data. For example, a few nies have been important movers with
companies issued reports with non- regard to the development of non-
English titles. In order to keep the objec- financial reporting.
tivity and not misinterpret text, I have
not translated these titles, but kept the For each of the years, I will present the
titles translated by CorporateRegister. number of each of the key word’s ap-
So, some companies might have titles pearances in the NFR titles. This will be
which would have been included in the presented in a graph. When the number
list of those using the three key words if of companies applying the key terms is
translated, are not included when count- under ten, these first movers will be pre-
ing the key words. Some companies sented by name, sector and country.
have issued two reports in one year.
These will be counted as what they are,
two reports. Even though some titles The history of non-financial reports
contain more than one of the key words, by FT 500 companies from 1989 to
I will count the appearance of the words. 2007 - findings
Practically this means that adding to-
gether all the key words found, will in The number of NFRs issued by FT 500
some instances equal more than the total corporations has increased tremen-
number of reports actually issued in a dously. In 1989 only one of the compa-
specific year. In 2000, two corporations nies issued a NFR, whereas in 2007, 388
started to include a NFR within their companies (78 percent) issued NFRs.
annual report. This number of corpora- Figure 2 illustrates the development in
tions increased gradually to 24 in 2007. the number of NFRs issued between
For these corporations too, the key word 1989 and 2007 among FT500 compa-
count is based on the title of the reports nies.
– in this case the annual reports.
1
Environment
“A per year count of reports issued across all sectors
and countries. Occasionally a company may produce
two reports in one year so these figures are not directly The first NFR issued by an FT 500 com-
related to the number of reporting companies.” pany was for 1989, and was issued by
www.corporateregister.com
6. C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148 141
Figure 2. Development in number of non-financial reports issued by FT 500
companies
the German chemical company BASF the titles of initial NFRs. In 2001 use of
SE. For 1990 two NFRs were issued, of this key word as part of the NFR title
which one, issued by the Norwegian oil peaked and decreased thereafter.
& gas company Norsk Hydro ASA, had
“environment” in its title. For the fol- Sustainability
lowing year, two companies issued
NFRs, with one, the USA oil & gas The first titles to contain the term
company Halliburton Company, having “sustainab” appeared in NFR reports for
“environment” in its title. Thereafter, 1997. The two companies applying this
five reports were issued, of which four word were the UK telecommunications
had “environment” in their titles: the UK company BT Group plc and the USA
telecommunications company BT Group chemical company Monsanto. The next
plc, two American companies du Pont year only one company applied the
(chemicals), and IBM (information tech- “sustainab” term in an NFR title, again
nology), and the German personal care Monsanto. For 1999, however, seven
and & household goods company Hen- companies applied the term in the title:
kel KGaA. For 1993, 11 NFRs were is- Baxter (health), Bristol-Myers
sued, seven with “environment” in their (pharmaceutical), Du Pont (chemicals),
titles and one with “responsib” in its ti- Motorola (information), and two reports
tle. This first report with “responsib” in from Procter & Gamble (personal care).
the title was issued by the USA pharma- The seventh company was the Canadian
ceutical & biotechnology company oil & gas company Suncor Energy. For
Johnson & Johnson. From 1994 on- 2000, the frequency of “sustainab” in the
wards the appearance of “environment” title increased to ten. By now other
in titles increased, as illustrated in Fig- countries were represented: the Swiss
ure 3. “Environment” was in almost all company ABB, Deutsche Bank of Ger-
7. 142 C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148
Figure 3. Total NFRs and appearance of “environment” in the title – FT 500
Figure 4. Total NFRs and frequency of “environment” and “sustainab”
in the title
many, Hitachi and Mitsubishi from Ja- and continued to increase thereafter. In
pan and Telecom from Italy (Bristol- 2007, the frequency of “sustainab” was
Myers did not issue such a report for 113. The development of “sustainab”
2000). By 2004, the frequency of and “environment” in titles is presented
“sustainab” in titles had increased to 69 in figure 4.
8. C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148 143
Responsibility Bayer (pharmaceutical), the USA gen-
eral retail company Home Depot, which
Even though the term responsibility was included responsibility in two of its re-
first applied by Johnson & Johson in ports, in addition to the UK telecommu-
their NFR for 1993, it did not recur until nications company BT Group and the
1998, in the NFR issued by the USA Canadian oil & gas company Suncor.
health company Becton Dickinson. For The frequency of “responsib” in their
1999 six companies applied the term reports dipped to four in 2000 but then
“responsib” in their titles: the two Ger- more than doubled in 2001, and more
man companies BASF (chemicals), and than doubled again, up to 20, in 2002.
Figure 5. Total NFRs and frequency of “environment”, “sustainab” and
“responsib” in the title
Thereafter we have seen a steady growth riod. The term “environment” appeared
in “responsib” as part of the NFR title. in the title of the majority of NFRs from
In 2007, the frequency of “responsib” the start in 1989. Its use peaked in 2002,
was 131. The development is illustrated but then decreased in popularity. The
in figure 5. use of “sustainab” in titles started in
1997, and took off around 2000. Apply-
ing the term “responsib” started mainly
Discussion and conclusion in 1998, and by 2006 it had become
more popular than “sustainab”. There
This study documents and illustrates the are several important issues in these
trend in NFR titles for a period of almost findings. I will focus on two of them: 1)
two decades. In summary, a substantial I will discuss the increase in the number
increase in non-financial reporting by of NFRs and trends related to the use of
FT500 corporations is found in this pe- key words in their titles from a legiti-
9. 144 C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148
macy and stakeholder perspective, and paper coverage of sustainability issues
2) I will discuss alternative business which concluded that the “increase in
theories to explain the reasoning behind sustainability-related media coverage
the introduction of new key words in since 1990 largely seems to be of an in-
NFR titles. cremental nature, rather than clearly as-
sociated with specific events. Only very
It can be argued that the rapid growth in few truly global events can be identified
non-financial reporting and the changing that triggered a substantial amount of
trends and popularity in the use of the media coverage globally” (Barkemeyer,
three key words in NFR titles reflect a Figge, Holt, & Hahn, 2009 page 69).
social expectation that such reports be
issued– it has become a norm . This sup- Looking at individual corporations, with
ports Branco and Roderigues’ argument special focus on the ones that introduced
that non-financial reporting is driven by the new key words in their NFR titles,
legitimacy. (M. C. Branco & Rodrigues, might suggest that using new key words
2007). is more closely linked to stakeholder
pressure. Here the pressure might not
The legitimacy argument is supported by necessarily be from specific external
the fact that the number of companies stakeholders, but from internal stake-
applying the key words in the title after holders that either take the initiative to
the words have “taken off” is increasing. or are in charge of CSR.
However, it does not explain why some
companies took the initiative to launch So looking more closely at the corporate
new key words, containing, for example, drivers for the introduction of new key
“sustainab” and “responsib”, in the first words, are there other business theories,
place. beyond legitimacy and stakeholder theo-
ries, which can be applied to explain this
Viewing non-financial reporting from a development?
stakeholder theory perspective draws
attention to whether or not there are dif- In accordance with the view that a multi-
ferent and specific stakeholders which theoretical framework is an appropriate
trigger corporations to produce NFRs. approach to analysing motivation for
Is pressure from investors, NGOs, me- non-financial reporting (M. Branco &
dia, authorities or employees the driver Rodrigues, 2008), I will evaluate the
for the increase in NFRs and the intro- relevance of some key classical business
duction of new key words in their titles? theories for understanding why some
Even though stakeholders can motivate companies introduced new key words in
corporations to take social responsibil- their NFRs. I will focus on Cluster the-
ity, no immediate event or action comes ory, Reputation theory, Innovation the-
to mind with regard to changes in the ory, and Managerial discretion theory2.
NFR titles investigated. Sustainability
was, for example, introduced by the
Brundtland Commission in 1986, long 2
For a more thorough discussion of these theories as
before the term was applied in NFR ti- motivation factors for CSR, please see What motivates
tles (United Nations, 1987). This finding managers to pursue corporate responsibility? A survey
is in line with a study of trends in news- among key stakeholders (C. Ditlev-Simonsen &
Midttun, 2010)
10. C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148 145
“Clusters are geographic concentrations vored in the USA and are having a sig-
of interconnected companies and institu- nificant effect on the reputation-building
tions in a particular field” (Porter, 1998). strategies of global companies in many
Applying this approach, it is relevant to countries” (Fombrun, 2005 page 7). By
look more closely at the location and launching a new key word in the title,
sector of the companies which launched the company may want to show that it is
the new key words, i.e. different clusters a “leader”. However, such a move also
of companies. Can we see any trends as implies a risk: the corporation may hap-
to whether there are some sectors which pen to choose a key word that does not
are more likely to take the initiative to gain popularity or improve its reputa-
apply new key words, or whether there tion.
are countries which are leaders?
Innovation theory, in line with Moss
With regards to sectors, and looking at Kanter’s approach, could also be one
the list of companies which have way of explaining these new key word
launched the new key words in their ti- initiatives: “Each generation embarks on
tles, there is no convincing pattern as to the same enthusiastic quest for the next
any specific sector. Furthermore, some new thing” (Kanter, 2006 page 73). By
of the companies are in the consumer introducing a new term in the NFR title,
market whereas others are in the B2B the company illustrates that it is innova-
market. tive and a leader – which again can be
linked to improved reputation.
Looking at the location of the first
mover companies, it is evident that USA Managerial discretion (Williamson,
and UK located companies are well rep- 1964), might also be a way to explain
resented. With regards to “sustain” eight the motivation for first introducing new
of the 10 corporations which include the key terms in NFR titles. The
term in their titles from 1997-2000, were “opportunity for discretion does have a
USA based (the remaining two were systematic effect on resurce-allocation
from UK and Canada). Other European decisions” (Williamson, 1963 page
companies are also generally early mov- 1032). There is often one person, or a
ers. Asian companies, mainly repre- limited number of people, responsible
sented by Japan, are in the third group of for the NFR (Robins, 2008), and they
movers. Great caution is however neces- have to a large extent the liberty to cre-
sary when making these suggestions. ate new titles. The new key words intro-
This is due to the fact that the degree to duced could thus be due to whether or
which different countries are represented not the person in charge of non-financial
in the FT 500 is not included in the issues in the company is creative. Fur-
analysis. thermore, individuals personal interest
can also form the base for what a com-
Another way to interpret the internal pany defines as its CSR (Atkinson &
drivers for the introduction of new key Galaskiewicz, 1988; Bhattacharya, Sen,
words in titles, may be reputation the- & Korschun, 2008; Bondy, 2008; C. D.
ory: “These [various standard-setting Ditlev-Simonsen, 2010), and thereby
initiatives] developments depart from explain the introduction of new key
the more voluntary forms of CSR fa- words in titles.
11. 146 C. D. Ditlev-Simonsen / Issues in Social and Environmental Accounting 2 (2010) 136-148
From an academic perspective, this words “environment”, “sustainab” and
study contributes a new approach to in- “responsib”. All these three words
vestigating the development of non- gained major popularity. However, not
financial reporting. By investigating all new key words in titles gained popu-
trends in NFR titles, a crucial element larity. A new study could look more
for such reports, a pattern of trends is closely at newly introduced words which
detected. Several theoretical approaches did not gain popularity.
are tested to interpret these explorative
findings. The conclusion reveals that
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