Reprint of: Does mandating corporate social and environmental disclosure improve social and environmental performance?: Broad-based evidence regarding the effectiveness of directive 2014/95/EU

IF 5.5 3区管理学 Q1 BUSINESS, FINANCE

British Accounting Review Pub Date : 2025-01-01 DOI:10.1016/j.bar.2025.101558

Charl de Villiers , John Dumay , Federica Farneti , Jing Jia , Zhongtian Li

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引用次数: 0

Abstract

Given that the aim of corporate social and environmental disclosure mandates is to improve corporate social and environmental performance, this study investigates the impact of such mandates on performance. Using a difference-in-differences analysis, we examine trends in corporate social and environmental performance before and after the introduction of Directive 2014/95/EU (hereafter, the Directive), comparing affected European companies with companies in the United States (US), based on a balanced sample of 358 European companies (excluding United Kingdom (UK) companies, because they were subject to additional regulations that came into effect around the same time) and 470 US companies from 2009 to 2020. We find that European companies' performance has not improved substantially since the Directive came into effect in 2017, nor have they improved compared to US companies. Thus, the evidence suggests that the Directive has not improved European companies’ social and environmental performance. Our study provides broad-based evidence of the (in)effectiveness of mandating corporate social and environmental disclosures to enhance performance. Our findings will be of interest to regulators considering disclosure mandates, as well as stakeholders and investors interested in enhancing social and environmental performance.

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转载：强制要求企业披露社会和环境信息是否能改善社会和环境绩效？关于2014/95/EU指令有效性的广泛证据

鉴于企业社会和环境信息披露规定的目的是提高企业的社会和环境绩效，本研究探讨了此类规定对绩效的影响。使用差异中的差异分析，我们研究了2014/95/EU指令（以下简称指令）引入前后企业社会和环境绩效的趋势，将受影响的欧洲公司与美国公司进行比较，基于358家欧洲公司（不包括英国公司）的平衡样本。因为它们受到大约同时生效的额外法规的约束)，以及2009年至2020年期间470家美国公司。我们发现，自2017年该指令生效以来，欧洲企业的业绩并没有显著改善，与美国企业相比也没有改善。因此，有证据表明，该指令并没有改善欧洲公司的社会和环境绩效。我们的研究提供了广泛的证据，证明强制企业披露社会和环境信息以提高绩效的有效性。我们的研究结果将对考虑披露要求的监管机构，以及对提高社会和环境绩效感兴趣的利益相关者和投资者感兴趣。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

British Accounting Review BUSINESS, FINANCE-

CiteScore

8.60

自引率

3.90%

发文量

审稿时长

76 days

期刊介绍： The British Accounting Review*is pleased to publish original scholarly papers across the whole spectrum of accounting and finance. The journal is eclectic and pluralistic and contributions are welcomed across a wide range of research methodologies (e.g. analytical, archival, experimental, survey and qualitative case methods) and topics (e.g. financial accounting, management accounting, finance and financial management, auditing, public sector accounting, social and environmental accounting; accounting education and accounting history), evidence from UK and non-UK sources are equally acceptable.