Companies have presented investigations about their motivation towards voluntarily social and environmental as insolvent. This paper argues in agreement with Adam’s view that the goal of CSR reporting is to promote credibility and corporate image of stakeholders operating in a particular industry. Whereas companies must focus their efforts on enhancing their profitability, they should also ensure that the welfare of other stakeholders is protected.
Previous literature offers a revelation on various competing theories based on why companies make voluntarily report and engagements in corporate social responsibility. The major perspectives considered are within the scope of application include accountability and image promotion. Many studies hold consequential evidence towards accountability to shareholders making it difficult for organizations to distinguish relevance from accountability based on continued practice. The absence of actual legitimacy crises makes it hard to identify voluntarily reporting as a proactive measure in preventing future crises and reporting based on accountability stakeholders demand (Bebbington, Larringa-Gonzalez & Moneva, 2008). Retrospective approaches typically deal with the reactive forms of legitimacy in which companies face related crises and do not consider the firms as on-going efforts in reporting on the CSR performance and lack of ascertained crises.
The concept explores underlying motivations for CSR reporting with cautious reference to the engagement of the companies. Engagement-based CSR efforts draw conclusions on surveys and interviews and offer valuable insights towards internal structures as well as views from reporters (Adams, 2002). In such r...
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...ng major objectives for firms and attaining ability of balanced conflicting and demands for firm stakeholders.
In conclusion, theories and practices in CSR reporting are multi-faceted while systems perspectives embodied in the assumptions are acknowledged through political economy dynamics. The research in corporate social disclosure utilizes legitimacy goals and questions the viability and ethical nature of the process. The critique is an outcome of the application of CSR principles through the assumption that organizations perceive threats to their legitimate status. In the development and broadening of the CSR scope and disclosure expectations, firms introduce comprehensive forms of corporate social reporting. In such a case, issues of voluntary corporate social reporting are exercised as accountability responses to stakeholders and part of a legitimating process.
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