Large-Scale Open Corporate Data Collection and Analysis as an Enabler of Corporate Social Responsibility Research
During the last years, citizens and transparency initiatives put increasing pressure on governments, organizations, and companies to be more transparent and to publicize information pertaining to their operations. Although several organizations have started engaging in open data practices, data quality, structure and availability is still highly inconsistent across organizations, which makes it challenging and effort-intensive to obtain and analyze large-scale high-quality datasets. To this end, this paper examines how publicly available financial and corporate data can be leveraged to extract useful inferences regarding the financial and social performance of companies. Numerous reports have been collected from the Securities Exchange Commission (SEC) and analyzed to study hypotheses regarding the corporate practices and social responsibility of companies.
KeywordsOpen data Information retrieval Corporate Social Performance eXtensible Business Reporting Language (XBRL)
This work has been supported by the WikiRate and ChainReact projects, partially funded by the European Commission under contract numbers FP7-609897 and H2020-687967 respectively.
- 2.Bowen, H.R., Johnson, F.E.: Social Responsibility of the Businessman. Harper, New York City (1953)Google Scholar
- 3.Bragdon, J., Marlin, J.: Is pollution profitable? Risk Manag. 19(4), 9–18 (1972)Google Scholar
- 9.Eckbo, B.E., Nygaard, K., Thorburn, K.S.: Does gender-balancing the board reduce firm value? (2016)Google Scholar
- 11.Johnston, K.A., Beatson, A.T.: Managerial conc1eptualisation of corporate social responsibility: an exploratory study (2005)Google Scholar
- 14.Bromiley, P., Marcus, A.: The deterrent to dubious corporate behavior: profitability, probability and safety recalls. Strateg. Manag. J. 10(3), 233–250 (1989)Google Scholar
- 15.Margolis, J.D., Elfenbein, H.A., Walsh, J.P.: Does it pay to be good? A meta-analysis and redirection of research on the relationship between corporate social and financial performance. Ann Arbor 1001, 48109–1234 (2007)Google Scholar
- 16.Marr, C., Highsmith, B.: Tax holiday for overseas corporate profits would increase deficits, fail to boost the economy, and ultimately shift more investment and jobs overseas. Center on Budget and Policy Priorities, Washington, D.C. (2011)Google Scholar
- 17.Mills, R., et al.: WikiRate.org – leveraging collective awareness to understand companies’ environmental, social and governance performance. In: Bagnoli, F., Satsiou, A., Stavrakakis, I., Nesi, P., Pacini, G., Welp, Y., Tiropanis, T., DiFranzo, D. (eds.) INSCI 2016. LNCS, vol. 9934, pp. 74–88. Springer, Cham (2016). doi: 10.1007/978-3-319-45982-0_7 CrossRefGoogle Scholar
- 21.SEC: Interactive data to improve financial reporting, June 2017. https://www.sec.gov/rules/final/2009/33-9002.pdf
- 22.Sethi, S.P.: A conceptual framework for environmental analysis of social issues and evaluation of business response patterns. Acad. Manag. Rev. 4(1), 63–74 (1979)Google Scholar
- 23.Waddock, S.A., Graves, S.B.: The corporate social performance-financial performance link. Strateg. Manag. J. 18(4), 303–319 (1997)Google Scholar
- 25.Wayne, L.: How delaware thrives as a corporate tax haven. N.Y. Times 30 (2012). http://www.nytimes.com/2012/07/01/business/how-delaware-thrives-as-a-corporate-tax-haven.html