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Article
Publication date: 14 September 2018

Laura Marín Andreu and Esther Ortiz-Martínez

The purpose of this paper is to study the evolution of the non-financial information reporting in Spain and evaluate if it is related to the financial evolution of the companies.

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Abstract

Purpose

The purpose of this paper is to study the evolution of the non-financial information reporting in Spain and evaluate if it is related to the financial evolution of the companies.

Design/methodology/approach

Sustainability reporting has been studied based on the Global Reporting Initiative (GRI) standards. The sample gathers Spanish large firms listed on the IBEX 35 in 2010. The period of the analysis covers six years, from 2010 to 2015.

Findings

The main results are that almost every company applies the GRI standards to the reports. The common is to apply limited or moderated assurances to the reports and ask for the insurance of the “big four.” The reporting is evolving from specific corporate social responsibility reports to the integrated reports which join financial and non-financial performances. The evolution of the earning per share and dividend per share (DPS) of the companies is moderately related with the sustainable reporting and highlights the positive relationship between the last GRI version, the combination level of assurance and the use of engineering firms with the financial evolution, mainly DPS.

Originality/value

The most important contribution of this paper is to add some extra information to the relationship between non-financial information and financial features of the companies, and in the case of Spain, where there are not so many previous studies and it is an important benchmark in Europe.

Details

Social Responsibility Journal, vol. 14 no. 4
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 16 May 2024

Ana María Lejárraga-García, Esther Ortiz-Martínez and Salvador Marín-Hernández

This study aims to test whether the perceptions of graduates of accounting-related degrees on the implications of companies’ commitment to sustainable development strategies can…

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Abstract

Purpose

This study aims to test whether the perceptions of graduates of accounting-related degrees on the implications of companies’ commitment to sustainable development strategies can be influenced by certain factors associated with their previous training and characteristics.

Design/methodology/approach

The study is based on measuring and analyzing the assessment carried out by a sample of students graduating in degrees that include accounting subjects for five consecutive years, from 2016–2017 to 2020–2021, both inclusive. Nonparametric statistical tests are used to determine the type of association between the factors that characterize the graduates and their degree of agreement with the training they received and its relationship with their role in implementing corporate social responsibility (CSR) and sustainability strategies in the company.

Findings

The study’s significant findings reveal that the respondents’ perception of the training they received and their opinion of certain benefits provided by sustainable development and CSR strategies in organizations are positively related. This insight is crucial, as it suggests that the training graduates receive plays a pivotal role in shaping their understanding and support for sustainability. The respondents’ opinions do not vary depending on their personal and/or work characteristics, except in the type of contract, as significant differences are observed between the self-employed and temporary or nonworking workers and between those with a permanent contract and those who are linked to the company with a temporary contract.

Originality/value

In a field where most studies focus on employee–employer relationships and human resource management policies, this research stands out. It delves deeper, not just into employees’ perception of sustainability but also into the causes of this perception. It explores what factors may be influencing employees’ opinions on sustainability, and importantly, it extends this analysis to graduates who will be in charge of these issues. This work covers a significant gap in the research, incorporating the study of variables such as personal characteristics and work-related aspects of employees and the training received in accounting matters.

Details

Social Responsibility Journal, vol. 20 no. 8
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 3 December 2024

Erekle Pirveli, Esther Ortiz-Martínez, Salvador Marín-Hernández and Paul Thompson

This study aims to examine how the characteristics of lobbyists – type, size and country of origin – affect the nature of the feedback submitted to the European Commission…

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Abstract

Purpose

This study aims to examine how the characteristics of lobbyists – type, size and country of origin – affect the nature of the feedback submitted to the European Commission regarding the Corporate Sustainability Reporting Directive.

Design/methodology/approach

This research is grounded in an analysis of 143 public comment letters, encompassing the entire spectrum of feedback received. The authors begin with a content analysis of the directive’s 20 key items to categorize responses, construct a feedback index based on them and then use ordinary least squares, robust and ordered logit regressions.

Findings

This analysis reveals the expanding concept of “users” in sustainability reporting, with active lobbying from both business associations and non-governmental organizations (NGOs). While the directive is generally well received, concerns arise regarding its broad scope, third-party assurance, forward-looking information and the rushed timeline. Lobbyists’ characteristics play a significant role in shaping their feedback. NGOs show stronger support than business associations, with companies in between. Smaller lobbyists favor simplified disclosures, and notable French support suggests a potential “reversed lobbying” effect, possibly due to the French presidency’s role in shaping the European sustainability reporting framework.

Practical implications

This in-depth content analysis of feedback on the directive provides a comprehensive summary measure that serves as a powerful tool for standard-setters to develop sector-specific sustainability standards.

Social implications

As sustainability reporting gains traction and zero-emission targets grow more urgent, understanding the standard-setting process is increasingly crucial.

Originality/value

This research shifts the focus of lobbying from financial to sustainability reporting. The authors build on regulatory capture and public interest theories by incorporating networking theory and the phenomenon of reversed lobbying to uncover key variations.

Details

Sustainability Accounting, Management and Policy Journal, vol. 16 no. 2
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 1 November 2007

David Crowther and Esther Ortiz Martinez

Agency Theory is normally used to explain the relationship between the managers of a corporation and its owners, or shareholders, and to legitimate the payment of share options…

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Abstract

Purpose

Agency Theory is normally used to explain the relationship between the managers of a corporation and its owners, or shareholders, and to legitimate the payment of share options, and other remuneration mechanisms, to those managers on the basis that this will align the interests of the managers of a corporation with those of its owners. The paper aims to argue that this outworn legitimation is not just based on a bankrupt theory but is actually deleterious to corporate performance, managerial behaviour and the relationship between managers, shareholders and other stakeholders.

Design/methodology/approach

The approach is to examine the behaviour of the managers of The Royal Dutch/Shell Group of Companies (“Shell”) as they have continued to reinterpret accounting regulations, reclassify oil reserves and re‐report past and probable/possible future performance of the company.

Findings

The argument is predicated in the assertion that in the relationship between owners and managers of such a corporation there are actually no principals and therefore there can be no agents. Furthermore, the rewards structure developed from the theory provides a motivation for managerial misrepresentation leading to a situation in which principles are defunct. The Social Contract between all stakeholders to a corporation has been reinvigorated as a basis for sustainable performance, with consequent implications for the behaviour of all parties to the contract.

Originality/value

The paper illustrates that evidence abounds showing that corporations do not have any sense of social responsibility and do not feel constrained by any kind of ethical code, no matter what their corporate literature states, but that there are an increasing number of stakeholders to organisations who are demanding accountability – and forcing corporations to respond accordingly.

Details

Social Responsibility Journal, vol. 3 no. 4
Type: Research Article
ISSN: 1747-1117

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Book part
Publication date: 24 May 2012

Esther Ortiz Martínez

The planning methodology used to elaborate strategic sustainable economic development for the period 2007–2013 is based on two items: technical studies and different modes of…

Abstract

The planning methodology used to elaborate strategic sustainable economic development for the period 2007–2013 is based on two items: technical studies and different modes of participation. Although independence is the example applied by the public sector, the main point to highlight here is the initiative's sustainability because a common framework is used. Every step is taken by applying the widest consensus and using governance from the regional public sector. Finally, everyone who wants to make suggestions and add to the plan is given the chance to help design the future ‘map’ for our region. It is a way to listen to all voices, suggestions and opinions, taking advantage of all possibilities opened by new technologies, and at the same time to involve everyone, from the beginning to the end, through the most representative associations and organisms, working hard with them to design the general framework for regional development and after that to reach and follow the planned objectives.

Details

Business Strategy and Sustainability
Type: Book
ISBN: 978-1-78052-737-6

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Article
Publication date: 1 June 2004

Isabel Martínez Conesa and Esther Ortiz Martínez

Financial analysis at international level has to overcome a lot of obstacles that increase the uncertainty which the financial analyst is used to handling. It is commonly argued…

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Abstract

Financial analysis at international level has to overcome a lot of obstacles that increase the uncertainty which the financial analyst is used to handling. It is commonly argued by accounting regulators, academics, and so on, that different accounting standards are one of these handicaps. For this reason European listed companies will be required in year 2005 to elaborate consolidated financial statements according to International Accounting Standards. Will it be a solution for the handicaps that face financial analysts? The objective of this study is to see how accounting diversity can be resolved and what are the conclusions of financial analysts in capital markets. The prior hypotheses will be: first, that accounting diversity is not what introduces the most important uncertainty in the international financial analysis, and second, that accounting diversity is avoided instead of being corrected. It is evidenced that the most important factors of diversity are strategies of the company and that analysts try to reduce the impact of accounting diversity, for example, using less biased ratios such as Enterprise Value/EBITDA.

Details

European Business Review, vol. 16 no. 3
Type: Research Article
ISSN: 0955-534X

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Book part
Publication date: 24 May 2012

Fulya Akyildiz is Assistant Professor, Department of Public Administration, Usak University, Turkey.

Abstract

Fulya Akyildiz is Assistant Professor, Department of Public Administration, Usak University, Turkey.

Details

Business Strategy and Sustainability
Type: Book
ISBN: 978-1-78052-737-6

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Article
Publication date: 16 October 2018

Abdulsamad Alazzani, Yaseen Aljanadi and Obeid Shreim

Drawing on servant leadership theory, this study aims to investigate whether the presence of royal family members on boards of directors impacts corporate social responsibility…

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Abstract

Purpose

Drawing on servant leadership theory, this study aims to investigate whether the presence of royal family members on boards of directors impacts corporate social responsibility (CSR) reporting.

Design/methodology/approach

CSR scores from a Bloomberg database are used and royal family data are collected from annual reports. The required analyses to test the hypotheses of this study have been performed.

Findings

The findings demonstrate a positive relationship between the presence of royal family directors and CSR reporting.

Originality/value

This study seeks to contribute to the literature on servant leadership theory and CSR by highlighting the impact of royal family directors on CSR reporting. This study may also contribute to an understanding of royal family leadership as a predictor of CSR reporting.

Details

Social Responsibility Journal, vol. 15 no. 1
Type: Research Article
ISSN: 1747-1117

Keywords

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