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Abstract
Corporate social responsibility (CSR) is considered as one of the most emphasized issues among the academics, employers, researchers, communities and the governments all over the world. Although, corporate social responsibility involvement over different economies and cultures vary, but the CSR reporting of the involvement, both voluntary and mandatory, gets importance in each part of the world due to the pressures from different stakeholders, especially government, international organization and community. Malaysian companies corporate social reporting increases over the years and happened to be the best in ASEAN countries. Corporate social responsibility in Malaysia was formally instituted by several companies in the 1970s. At the turn of the century, it expanded along lines similar to the CSR movements in other Asian countries (Ismail, Alias and Rasdi, 2015). These reports are important to other users (such as employees, consumers, community, government and NGOs), other than solely for financial analysts and fund managers (Zakimi and Atan, 2011). Still, the requirement of sustainability reporting by the BURSA listed companies being met poorly as the number of companies' publishing sustainability reports through web site is insignificant. The purpose of this research is to examine the sustainability report of the Malaysian business to know its quality of disclosure according to the internationally accepted guidelines. The result of this evaluation shows that very few of the excellent companies, according to a rewarding authority named Frost and Sullivan, publish sustainability reports and majority of the reports disclose their strategic philanthropy practices. The companies investigated in the research were awarded as the Malaysian best in the year 2015 as their delivery in the respective industries. And, the sustainability reports examined here were of the years 2011-2014 of the companies awarded by this Frost and Sullivan in 2015. This research result can be used as benchmarking for other BURSA listed companies in CSR reporting practice and it will to be useful in CSR disclosure to both the regulator and the society.
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Abstract
Corporate social responsibility (CSR) is considered as one of the most emphasized issues among the academics, employers, researchers, communities and the governments all over the world. Although, corporate social responsibility involvement over different economies and cultures vary, but the CSR reporting of the involvement, both voluntary and mandatory, gets importance in each part of the world due to the pressures from different stakeholders, especially government, international organization and community. Malaysian companies corporate social reporting increases over the years and happened to be the best in ASEAN countries. Corporate social responsibility in Malaysia was formally instituted by several companies in the 1970s. At the turn of the century, it expanded along lines similar to the CSR movements in other Asian countries (Ismail, Alias and Rasdi, 2015). These reports are important to other users (such as employees, consumers, community, government and NGOs), other than solely for financial analysts and fund managers (Zakimi and Atan, 2011). Still, the requirement of sustainability reporting by the BURSA listed companies being met poorly as the number of companies' publishing sustainability reports through web site is insignificant. The purpose of this research is to examine the sustainability report of the Malaysian business to know its quality of disclosure according to the internationally accepted guidelines. The result of this evaluation shows that very few of the excellent companies, according to a rewarding authority named Frost and Sullivan, publish sustainability reports and majority of the reports disclose their strategic philanthropy practices. The companies investigated in the research were awarded as the Malaysian best in the year 2015 as their delivery in the respective industries. And, the sustainability reports examined here were of the years 2011-2014 of the companies awarded by this Frost and Sullivan in 2015. This research result can be used as benchmarking for other BURSA listed companies in CSR reporting practice and it will to be useful in CSR disclosure to both the regulator and the society.