Factors Influencing CSR Disclosures of Large Czech Companies

Ivan Balogh

Master's thesis

Anotácia:

Businesses nowadays face unprecedented pressures from stakeholders to become more transparent by issuing reports describing their CSR related activities and policies. Diverse theory-backed mechanisms of CSR disclosure adoption by corporates are described in the academic literature. The main motivation of this thesis was to understand which CSR disclosure theories and factors are relevant in the case of large Czech companies. For this purpose, total CSR disclosure index consisting of three ESG subindexes was constructed and calculated for 100 largest Czech companies. Subsequently, relationships between theory-backed factors and CSR disclosure indexes were estimated using 4 censored regression models. The most important findings presented in this thesis are that company size, industry, profitability, standalone report format, company respect, CSR rating participation and external assurance are important factors influencing the CSR disclosure levels of large Czech companies. Overall results are mostly in-line with available peer studies of businesses operating in different countries. Finally, this thesis extends academic literature on CSR disclosures in Czech Republic by providing empirical verification of significance of selected theory-based disclosure factors.

Abstract:

Businesses nowadays face unprecedented pressures from stakeholders to become more transparent by issuing reports describing their CSR related activities and policies. Diverse theory-backed mechanisms of CSR disclosure adoption by corporates are described in the academic literature. The main motivation of this thesis was to understand which CSR disclosure theories and factors are relevant in the case of large Czech companies. For this purpose, total CSR disclosure index consisting of three ESG subindexes was constructed and calculated for 100 largest Czech companies. Subsequently, relationships between theory-backed factors and CSR disclosure indexes were estimated using 4 censored regression models. The most important findings presented in this thesis are that company size, industry, profitability, standalone report format, company respect, CSR rating participation and external assurance are important factors influencing the CSR disclosure levels of large Czech companies. Overall results are mostly in-line with available peer studies of businesses operating in different countries. Finally, this thesis extends academic literature on CSR disclosures in Czech Republic by providing empirical verification of significance of selected theory-based disclosure factors.

Kľúčové slová

CSR disclosures, CSR, CSR disclosure factors, Tobit model, Non-financial disclosures

Keywords

CSR disclosures, Non-financial disclosures, CSR, CSR disclosure factors, Tobit model

Jazyk práce: English

Datum vytvoření / odevzdání či podání práce: 19. 12. 2019

Obhajoba závěrečné práce

• Obhajoba proběhla 1. 2. 2021
• Vedúci: Ladislav Tyll
• Oponent: Natálie Badie

Vysoká škola ekonomická v Praze

Master programme / odbor:
Ekonomika a management / International Management