Table Of ContentAccounting, Finance, Sustainability, Governance & Fraud:
Theory and Application
Graham Gal
Orhan Akişik
William Wooldridge E ditors
Sustainability
and Social
Responsibility:
Regulation and
Reporting
Accounting, Finance, Sustainability,
Governance & Fraud: Theory and Application
Series editor
Kiymet Tunca Caliyurt, Iktisadi ve Idari Bilimler Fakültesi, Trakya University
Balkan Yerleşkesi, Edirne, Turkey
This series acts as a forum for book publications on current research arising from
debatesaboutkeytopicsthathaveemergedfromglobaleconomiccrisesduringthe
past several years. The importance of governance and the will to deal with
corruption,fraud,andbadpractice,arethemesfeaturedinvolumespublishedinthe
series. These topics are not only of concern to businesses and their investors, but
also to governments and supranational organizations, such as the United Nations
and the European Union. Accounting, Finance, Sustainability, Governance &
Fraud:TheoryandApplicationtakesonadistinctiveperspectivetoexplorecrucial
issues that currently have little or no coverage. Thus the series integrates both
theoretical developments and practical experiences to feature themes that are
topical, or are deemed to become topical within a short time. The series welcomes
interdisciplinary research covering the topics of accounting, auditing, governance,
and fraud.
More information about this series at http://www.springer.com/series/13615
ş
Graham Gal Orhan Aki ik
(cid:129)
William Wooldridge
Editors
Sustainability and Social
Responsibility: Regulation
and Reporting
123
Editors
Graham Gal William Wooldridge
IsenbergSchool ofManagement IsenbergSchool ofManagement
University of Massachusetts Amherst University of Massachusetts Amherst
Amherst, MA Amherst, MA
USA USA
Orhan Akişik
IsenbergSchool ofManagement
University of Massachusetts Amherst
Amherst, MA
USA
ISSN 2509-7873 ISSN 2509-7881 (electronic)
Accounting,Finance, Sustainability, Governance &Fraud: TheoryandApplication
ISBN978-981-10-4501-1 ISBN978-981-10-4502-8 (eBook)
DOI 10.1007/978-981-10-4502-8
LibraryofCongressControlNumber:2017942971
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Contents
Part I Background of Corporate Social Responsibility (CSR)
1 CSR—In Pursuit of Sustainable Growth and Economic
Development .. .... .... ..... .... .... .... .... .... ..... .... 3
Sanjay Bhāle and Sudeep Bhāle
2 Social Responsibility as a Factor of Convergence in Corporate
Governance ... .... .... ..... .... .... .... .... .... ..... .... 29
Daniela M. Salvioni, Simona Franzoni and Francesca Gennari
3 CSR, Corporate Governance, and the King Reports ... ..... .... 55
Henk Kloppers
4 Problematising Sustainability Assurance Practice: Roles
of Sustainability Assurance Providers ... .... .... .... ..... .... 81
Charika Channuntapipat
5 State Auditing and Anticorruption Campaign: Evidence
from China ... .... .... ..... .... .... .... .... .... ..... .... 117
Guangyou Liu and Kaisong Gong
6 Sustainability Ratings and Organizational Legitimacy:
The Role of Compensating Tactics.. .... .... .... .... ..... .... 141
Jeffrey Gauthier and Bill Wooldridge
7 Can Sustainability Be Budget for? Evidence from Iran. ..... .... 159
Farzaneh Jalali and Graham Gal
Part II Analytical Models
8 A Signaling Game Between a Manager and Investors
for Financial Disclosure . ..... .... .... .... .... .... ..... .... 181
Chen-Wen Chen
v
vi Contents
9 Converging the Shareholder and Stakeholder Theories. ..... .... 203
Ertan Kucukyalcin
10 Employee Perceptions of Corporate Social Responsibility
Activities and Work-Related Attitudes: The Case
of a Greek Management Services Organization ... .... ..... .... 225
Panagiotis Reklitis, Panagiotis Trivellas, Ioannis Mantzaris,
Elisavet Mantzari and Dimitrios Reklitis
11 The Impact of the Economic Crisis on the Corporate
Social Responsibility Activities of Greek Companies ... ..... .... 241
Alexandros G. Sahinidis, Dimitra Daskalaki, Elisavet Mantzari
and Ioannis Mantzaris
Part III Market Firm Issues
12 Is Socially Responsible Investing More Risky? Australian
Evidence.. .... .... .... ..... .... .... .... .... .... ..... .... 261
Ewan Mackie, Imon Palit, Madhu Veeraraghavan and John Watson
13 Corporate Social Disclosures by Banks: Between
Legal Institution and Cultural Dimensions ... .... .... ..... .... 307
Ismail Adelopo, Musa Obalola and Ramiro Cea Moure
14 Social Reporting in a Health Care Organization:
A Case Study of a Regional Italian Hospital.. .... .... ..... .... 333
Stefano Marasca, Lucia Montanini, Alberto Manelli,
Alessia D’Andrea, Martina Vallesi, Vania Carignani
and Paolo Galassi
15 Iran’s Privatization Policy Analysis Based on Good Corporate
Governance Principles... ..... .... .... .... .... .... ..... .... 369
Amin Naseri, Rahmatollah Gholipour and Bita Mashayekhi
16 Role of Management, Corporate Governance,
and Sarbanes-Oxley in Fraud: A Focus on the Precious
Metals Industry.... .... ..... .... .... .... .... .... ..... .... 391
Tomeika Williams
17 Financial and Sustainability Reporting: An Empirical
Investigation of Their Relationship in the Italian Context.... .... 411
Marisa Agostini and Ericka Costa
18 Corporate Social Responsibility, Investor Sentiment,
and Stock Returns.. .... ..... .... .... .... .... .... ..... .... 443
Emrah Keleş and Ayten Çetin
19 An Industry Perspective on Regulation and Reporting . ..... .... 463
Julian Lustig-Gonzalez and Laura Harcourt
Contents vii
20 CSR Disclosure Practices in the Zambia Mining Industry.... .... 471
Obby Phiri and Elisavet Mantzari
Author Index.. .... .... .... ..... .... .... .... .... .... ..... .... 505
Subject Index.. .... .... .... ..... .... .... .... .... .... ..... .... 519
Editors and Contributors
About the Editors
Dr.GrahamGal isanAssociateProfessorofbusinessadministrationattheIsenbergSchoolof
Management in the Department of Accounting. Dr. Gal member of the American Accounting
Association’s council and serves on the University’s IT Curriculum and Policy committee.
Currently,heisontheeditorialboardfortheJournalofInformationSystemsandtheInternational
JournalofAuditingTechnology.Heservedaseditorforaspecialissueoncontinuousauditingand
continuousreportingfortheManagerialAuditingJournal.Previously,heservedastheassociate
editorfordesignsciencefortheJournalofEmergingTechnologies.Hisresearchinterestsinclude
businessontologies,specificationofinternalcontrols,continuousmonitoring,continuousreport-
ing, organizational security policies, corporate social responsibility impact on financial perfor-
mance,andcontrolsforsustainabilityreporting.Dr.Galhasrecentlybeenakeynotespeakeratthe
International Conference on Governance, Fraud, Ethics, and Social Responsibility and at
MODAV. He has presented his work as a visiting scholar at Chuo University in Tokyo, the
University of Sao Paulo, and as a panelist on cybersecurity at the University of Waterloo’s
conference on information assurance. His work has been published in a number of journals
including Journal of Emerging Technologies in Accounting, Decision Sciences, Expert Systems
Review, Expert Systems, Journal of Information Systems, The Information Systems Control
Journal,AdvancesinAccounting InformationSystems,TheInternationalJournalof Accounting
Information Systems, the International Journal of Accounting and Information Management,
Sustainability Accounting, Management and Policy Journal, and the Journal of Management
Control.
Dr.OrhanAkişik isSeniorLecturerinaccounting attheIsenbergSchoolofManagement.He
holdsaPh.D.fromtheStuttgartUniversityinGermany.Dr.Akişikteachesfinancialreportingand
cost accounting courses. He previously taught at Boston College, Boston (2001–2012). His
research interests include accounting regulation, accounting standards, corporate governance,
corporatesocialresponsibility,financialdevelopment,foreigninvestments,economicgrowth,and
earningsmanagement.HehaspublishedinacademicjournalssuchasReviewofAccountingand
Finance, Research in Accounting in Emerging Markets, Emerging Markets Finance and Trade,
TheInternationalJournalofAccountingandInformationManagement,JournalofManagement
Control, Sustainability Accounting, Management and Policy Journal. He was granted the title
“associateprofessorinaccountingandfinance”byTurkishHigherEducationCouncilin2006.
William Wooldridge is Managing Director of the Berthiaume Center for Entrepreneurship and
Professor of management in the Isenberg School of Management at the University of
Massachusetts, Amherst. Prof. Wooldridge received his Ph.D. in management from the Leeds
ix
x EditorsandContributors
College of Business at University of Colorado, Boulder. His research focuses on business and
strategydevelopment,strategyprocess,andbuildingsustainablebusinessmodelsinorganizations.
He is the co-author of three books on middle managers and their role in strategy making and
corporate entrepreneurship. His research has been published in leading academic journals
including Entrepreneurship Theory and Practice, Strategic Management Journal, Journal of
Management, and Journal of Management Studies. He has extensive experience teaching
entrepreneurship and strategy at the undergraduate and graduate levels. Prof. Wooldridge has
served, on two different occasions, as Chair of the Management Department at the Isenberg
School,drivingnewcurriculuminitiativesrelatedtoentrepreneurshipandsustainability.
AsfoundingdirectoroftheBerthiaumeCenterforEntrepreneurship,Prof.Wooldridgehasled
the development of a multi-disciplinary entrepreneurship curriculum on campus, revitalized the
campus’ extra-curricular entrepreneurship activities, built strategic relationships across, and
beyond,campus,andcreatedateam-basedmentorshipprogramtoservecampus-basedstart-ups.
These accomplishments were recently recognized by the United States Association for Small
Business and Entrepreneurship through their “Outstanding Emerging Entrepreneurship Program
Award,”presentedtotheBerthiaumeCenter,January2016.
Contributors
Ismail Adelopo University of the West Of England, Bristol, England, UK
Marisa Agostini Department of Management, Ca’ Foscari University of Venice,
Venice, Italy
Sanjay Bhāle Indira Institute of Management (affiliated to University of Pune),
Pune, MH, India
V. Carignani Azienda Ospedaliero Universitaria “Ospedali Riuniti” di Ancona,
Direzione Generale, Ancona, AN, Italy
Ayten Çetin Department of Accounting and Finance, Marmara University,
Istanbul, Turkey
CharikaChannuntapipat AllianceBirminghamBusinessSchool,TheUniversity
of Birmingham, Birmingham, UK
Chen-Wen Chen Department of Business Management, National Sun Yat-sen
University, Kaohsiung, Taiwan, ROC
Ericka Costa Department of Economics and Management, University of Trento,
Trento, Italy
Dimitra Daskalaki Bank of Greece, Athens, Greece
A. D’Andrea Department of Management, Facoltà Di Economia “G.Fuà”,
Ancona, AN, Italy
Simona Franzoni Department of Economics and Management, University of
Brescia (Italy), Brescia, Italy
Graham Gal Isenberg School of Management, University of Massachusetts at
Amherst, Amherst, MA, USA
