The disclosure of social and environmental activities in financial statements and non-financial reports of selected manufacturing firms among the top 500 corporations in the Philippines

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ID: 284673
2004
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Abstract
Corporate social responsibility recognizes that business firms have different kinds of responsibility - economic, legal and social. Business firms should not only be responsible to owners or stockholders but also to the different stakeholders. The study attempted to determine the social and environmental activities engaged by selected manufacturing firms in the Top 500 Corporations and how they were disclosed in financial statements and non-financial reports. Results of the study showed that disclosure of social and environmental activities is more qualitative rather than quantitative in nature. Sample firms disclosed their involvement in social and environmental activities in company website and non-financial reports like newsletter, social report, environmental report and the like. They called the social report by different names. Very little disclosure was made in the annual reports. Social and environmental involvements were included in the message to stockholders and were included in a separate body within the annual report. Disclosure was never found in the body of audited financial statements but in Notes to Financial Statements. Only disclosure about the retirement benefits of employees and stock option plan was shown. There were ten different types of involvement in social responsibility where sample firms are involved in. Giving donations and charitable contributions providing community development programs and providing medical, dental and healthcare to non-employees were the social activities they engaged most. They had the least involvement in providing sports and recreation programs to outsiders or non-employees. There were five different types of involvement in environmental concern. Most involvement was in the form of waste management environmental protection, preservation and rehabilitation and environmental awareness campaign. They had the least involvement in energy conservation. Sample firms engaged in social and environmental activities even when they incurred losses or when they had a negative capital. They also engaged in social and environmental activities no matter what amount of revenue earned and amount of assets owned. The involvement of firms in social activities was significantly different with their involvement in environmental activities. Among the independent variables, gross revenue was found to have the most significant positive correlation with social activities and environmental activities based on the statistical tests done and therefore had the most explanatory influence on both activities. Total assets, on the other hand, showed no significant positive relationship both to social and environmental activities and therefore did not have an explanatory power to predict them. Business firms were aware that they have responsibility
Reference Key
persistent_1760653353_68f17029ecfbc Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Bernados, Helen A.
Journal Malay Journal
Year 2004
DOI
DOI not found
URL
https://animorepository.dlsu.edu.ph/etd_masteral/3136
Keywords Keywords not found

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