Corporate Social Responsibility and Governance: Information Disclosure in Multinational Corporations

  • Citation: Kaymak, Turhan, and Eralp Bektas. “Corporate Social Responsibility and Governance: Information Disclosure in Multinational Corporations.” Corporate Social Responsibility and Environmental Management 24, no. 6 (2017).
    • Topics:
    • Business and Trade
    • Keywords:
    • corporate social responsibility
    • multinational corporations
    • independence
    • board size
    • extractive industries

Multinational corporations (MNCs) are facing increasing pressure on two fronts – the demand for more transparency and disclosure and the need to implement good corporate governance practices. This paper develops several testable hypotheses that address these issues based on agency theory and stakeholder management approach arguments. As such, the relationship between corporate social responsibility (CSR) programs and firm-level governance structures are discussed. CSR is measured using Transparency International’s study on the disclosure practices of the world’s largest MNCs. Links between board size, board independence, and duality are explored. The results indicate that board independence and board size are strongly and positively related to several CSR practices. In addition, extractive industries have a significant and positive impact on the level of CSR activities. Policy and managerial implications related to these findings are also discussed.

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