The importance and benefits of corporate social responsibility disclosure in the Libyan context: evidence from managers
Paper
Paper/Presentation Title | The importance and benefits of corporate social responsibility disclosure in the Libyan context: evidence from managers |
---|---|
Presentation Type | Paper |
Authors | Bayoud, Nagib Salem (Author) and Kavanagh, Marie (Author) |
Editors | Jalbert, Mercedes |
Journal or Proceedings Title | Proceedings of the Global Conference on Business and Finance (IBFR 2012) |
Journal Citation | 7 (1), pp. 84-95 |
Number of Pages | 12 |
Year | 2012 |
Place of Publication | Hilo, HI. United States |
Conference/Event | Global Conference on Business and Finance (IBFR 2012) |
Event Details | Global Conference on Business and Finance (IBFR 2012) Event Date 03 to end of 06 Jan 2012 Event Location Honolulu, United States |
Abstract | This explains the importance and benefits for Libyan companies of engaging in corporate social responsibility disclosure (CSRD). The researchers have chosen the Libyan context as one of the world's developing countries and it has undergone many changes over a short period of time in terms of economic, environmental and social changes. Both quantitative and qualitative methods were used to collect data relating to CSRD in Libyan companies. Perceptions of financial managers interviewed as part of the study reveal that CSRD is important for company performance, not only in the developed countries but also in developing countries. This paper reveals that CSRD in the annual reports is very important in terms of attaining company objectives to: satisfy the interests of stakeholders; protect employee's interests; clarify the extent of contribution of the company in both CSR activities and CSRD; assist appropriate investment decisions. The perceived primary benefits of CSRD were enhanced company reputation, and increased financial performance. It also improves ability to attract foreign investors, and results in a higher level of consumer satisfaction leading to commercial benefits. Secondary benefits include demonstration of compliance with regulation and improved employee commitment. |
Keywords | corporate social responsibility; CSR; corporate social responsibility disclosure; CSRD; financial performance; corporate reputation |
ANZSRC Field of Research 2020 | 350710. Organisational behaviour |
500102. Business ethics | |
350102. Auditing and accountability | |
Public Notes | This publication is copyright. It may be reproduced in whole or in part for the purposes of study, research, or review, but is subject to the inclusion of an acknowledgment of the source. |
Byline Affiliations | School of Accounting, Economics and Finance |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q29y2/the-importance-and-benefits-of-corporate-social-responsibility-disclosure-in-the-libyan-context-evidence-from-managers
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