| Item Type |
Journal paper
|
| Abstract |
We examine the value?relevance of corporate social responsibility (CSR) reporting quality in the so?called D/A/CH?region (Germany, Austria, and Switzerland). We provide empirical evidence that higher CSR reporting quality reduces stock return volatility and abnormal returns from unexpected CSR performance risk. We argue, when the quality of CSR reporting is high, then the market is pricing firms' future CSR
performance more precisely. We also find that the amount and quality of CSR reporting has significantly increased from 2002 to 2012. Particularly, the use of separate sustainability reports and integrated reports has increased over time. The data is hand?collected and obtained through an analysis of CSR reporting in annual reports, status reports, integrative reports, and CSR reports. The data set represents the complete composition of DAX30 (Germany), ATX (Austria), and SMI (Switzerland) listed firms as of December 2012. |
| Authors |
Grüner, Andreas; Gutsche, Robert & Schulz, Jan-Frederic |
| Journal or Publication Title |
Journal of Environmental Law and Policy |
| Language |
English |
| Keywords |
CSR, value-relevance, nonfinancial reporting, market efficiency |
| Subjects |
business studies |
| HSG Classification |
contribution to scientific community |
| Refereed |
Yes |
| Date |
12 December 2014 |
| Publisher |
dfv-Mediengruppe |
| Place of Publication |
Franfurt am Main |
| Volume |
37 |
| Number |
4 |
| Page Range |
390-409 |
| Number of Pages |
20 |
| ISSN |
0931-0983 |
| Depositing User |
Prof. Ph.D Robert Gutsche
|
| Date Deposited |
18 Jun 2015 13:24 |
| Last Modified |
01 Apr 2023 00:23 |
| URI: |
https://www.alexandria.unisg.ch/publications/241736 |
The Value-relevance of CSR Reporting Quality
