The Impact of Corporate Social Responsibility Disclosure on Corporate Reputation: A Non-professional Stakeholder Perspective
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This paper examines the impact of corporate social responsibility (CSR) disclosure on corporate reputation as perceived by non-professional stakeholders. Proponents of CSR disclosure argue that CSR disclosure can be considered as a tool for reputation management. We empirically investigate this claim using a reputation index which tracks the general public’s perceptions of corporate reputation over time. In our analysis, we focus on disclosure in stand-alone CSR reports and control for CSR performance. We find that, in contrast to the common belief, stand-alone CSR reports do not influence corporate reputation among non-professional stakeholders. However, we are able to document that stand-alone CSR reports influence corporate reputation among professional stakeholders. We also provide some evidence that transparent CSR disclosure on corporate websites can influence corporate reputation among non-professional stakeholders.
KeywordsCorporate reputation Corporate social responsibility disclosure Non-professional stakeholders’ perceptions Professional stakeholders Voluntary disclosure
JEL ClassificationL14 M14 M41
Compliance with Ethical Standards
Conflict of interest
The authors declare that they have no conflict of interest.
This article does not contain any studies with human participants or animals performed by any of the authors.
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