Research finds companies more likely to revisit corporate social responsibility results when tied to CEO pay
The Australian study found corporate social responsibility gains were often linked to restatements, as well as to CEO compensation contracts.The Australian study found corporate social responsibility gains were often linked to restatements, as well as to CEO compensation contracts.
“Our results show that CSR contracting is associated with a greater number of CSR restatements, particularly when social performance measures are contained within CEO compensation contracts,” the paper, published in the Journal of Management Accounting Research, found. The authors, associate professor Helen Spiropoulos from the University of Technology Sydney and Rebecca Bachmann from Macquarie University, said CSR reporting was already perceived as “greenwashing” – the selective disclosure of positive environmental or social performance and the withholding of negative information.
“CSR reporting is an important issue given its increasing occurrence and pressure to conduct business in a way that minimises any negative social and environmental impacts,” the paper said.Our Australian afternoon update breaks down the key stories of the day, telling you what’s happening and why it mattersThe authors hope the findings will be considered by the International Sustainability Standards Board.
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