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Journal of Management and Business Research, 2017
34（ 3 ）：331-353
DOI： 10.6504/JOM.2017.34.03.01 |
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| Why do Firms Publish Sustainability Reports? A Nonmarket Perspective |
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| This study examines why firms publish sustainability reports from a nonmarket perspective. We propose that when a firm's sociopolitical environments become hostile, the firm will be more likely to publish sustainability report. By providing stakeholders information regarding the firm's economic, environmental, and social performance, the firm may gain legitimacy in sociopolitical environments. We propose that media misreport plays a critical role of intervening a firm's nonmarket environment and then affect the firm's operation. Therefore, there is a positive relationship between a firm's media clarification and the likelihood of publishing sustainability reports. The positive relationship is more salient in the case of firms with younger ages or firms with lower profitability. We find supporting evidence based on a sample of publicly listed Taiwanese firms during 2012-2015. |
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| nonmarket environments, nonmarket strategy, sustainability reporting, corporate social responsibility, media misreport |
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