¿Cómo gestionar una buena reputación corporativa? Las empresas no solo deben ser socialmente responsables sino parecerlo
DOI:
https://doi.org/10.51302/rcyt.2021.7377Palabras clave:
reputación corporativa, responsabilidad social corporativa, información sobre RSC divulgada por la empresaResumen
La responsabilidad social corporativa (RSC) es considerada como uno de los principales factores que afecta a la reputación corporativa, y, por ello, la calidad de la información divulgada por la propia empresa sobre su RSC puede fortalecer esta relación a través de dos vías: primero, puede mejorar la credibilidad de la RSC al ser una herramienta que permite reducir la discrecionalidad directiva sobre esta; y segundo, puede ayudar a aumentar la visibilidad de las acciones de RSC más allá de los stakeholders directamente afectados por dichas acciones de la empresa. Por ello, este estudio tiene como objetivo analizar la relación entre la RSC y la reputación corporativa a la vez que trata de examinar la existencia de un efecto moderador de la calidad de la comunicación de la empresa sobre su RSC en esta relación. Los resultados del análisis de una muestra internacional de 133 empresas para el periodo comprendido entre 2011 y 2016 revelan que una buena RSC afecta positivamente a la reputación corporativa, confirmando el efecto positivo y significativo de cada una de sus dimensiones (social, medioambiental y económica) en la reputación de la empresa. Por otro lado, los resultados revelan que la calidad de la información divulgada por la empresa sobre su RSC aumenta la intensidad de los efectos del desempeño social y medioambiental de la empresa en su reputación corporativa.
Descargas
Citas
Adams, C. A.; Hill, W. Y. y Roberts, C. B. (1998). Corporate social reporting practices in Western Europe: legitimating corporate behaviour? The British Accounting Review, 30(1), 1-21.
Aiken, L. S. y West, S. G. (1991). Multiple regression: Testing and interpreting interactions. Sage.
Amran, A.; Lee, S. P. y Devi, S. S. (2014). The influence of governance structure and strategic corporate social responsibility toward sustainability reporting quality. Business Strategy and the Environment, 23(4), 217-235.
Arikan, E.; Kantur, D.; Maden, C. y Telci, E. E. (2016). Investigating the mediating role of corporate reputation on the relationship between corporate social responsibility and multiple stakeholder outcomes. Quality & Quantity, 50(1), 129-149.
Barnett, M. L. (2007). Stakeholder influence capacity and the variability of financial returns to corporate social responsibility. Academy of management review, 32(3), 794-816.
Bear, S.; Rahman, N. y Post, C. (2010). The impact of board diversity and gender composition on corporate social responsibility and firm reputation. Journal of business ethics, 97(2), 207-221.
Beatty, R. P. y Ritter, J. R. (1986). Investment banking, reputation, and the underpricing of initial public offerings. Journal of Financial Economics, 15(1-2), 213-232.
Bebbington, J.; Larrinaga, C. y Moneva, J. M. (2008). Corporate social reporting and reputation risk management. Accounting, Auditing & Accountability Journal, 21(3), 337-361.
Bergh, D. D.; Ketchen Jr., D. J.; Boyd, B. K. y Bergh, J. (2010). New frontiers of the reputation—Performance relationship: Insights from multiple theories. Journal of Management, 36(3), 620-632.
Bhattacharyya, A. y Cummings, L. (2014). Attitudes towards environmental responsibility within Australia and India: a comparative study. Journal of Environmental Planning and Management, 57(5), 769-791.
Blundell, R. y Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-143.
Brammer, S. J. y Pavelin, S. (2006). Corporate reputation and social performance: The importance of fit. Journal of Management Studies, 43(3), 435-455.
Brammer, S. y Millington, A. (2005). Corporate reputation and philanthropy: An empirical analysis. Journal of Business Ethics, 61(1), 29-44.
Brammer, S. y Pavelin, S. (2004). Building a good reputation. European Management Journal, 22(6), 704-713.
Brown-Liburd, H.; Cohen, J. y Zamora, V. L. (2016). CSR Disclosure Items Used as Fairness Heuristics in the Investment Decision. Journal of Business Ethics, 152(1), 275-289.
Chen, S. y Bouvain, P. (2009). Is corporate responsibility converging? A comparison of corporate responsibility reporting in the USA, UK, Australia, and Germany. Journal of Business Ethics, 87, 299-317.
Clarkson, M. E. (1995). A stakeholder framework for analyzing and evaluating corporate social performance. Academy of Management Review, 20(1), 92-117.
Comisión Europea. (2014). Directiva 2014/95/EU del Parlamento Europeo y del Consejo del 22 de octubre de 2014 enmienda de la Directiva 2013/34/EU en lo que respecta a la divulgación de información no financiera y de diversidad por parte de ciertas grandes empresas y grupos. ABlEUL, 330, 1-9.
Cormier, D. y Gordon, I. M. (2001). An examination of social and environmental reporting strategies. Accounting, Auditing & Accountability Journal, 14(5), 587-617.
Cornell, B. y Shapiro, A. C. (1987). Corporate stakeholders and corporate finance. Financial Management, 16(1) 5-14.
Deephouse, D. L.; Newburry, W. y Soleimani, A. (2016). The effects of institutional development and national culture on cross-national differences in corporate reputation. Journal of World Business, 51(3), 463-473.
Delgado-García, J. B.; Quevedo-Puente, D. y La Fuente-Sabaté, D. (2010). The impact of ownership structure on corporate reputation: Evidence from Spain. Corporate Governance: An International Review, 18(6), 540-556.
Dunbar, R. L. y Schwalbach, J. (2000). Corporate reputation and performance in Germany. Corporate Reputation Review, 3(2), 115-123.
Europapress (2020). Europapress.es. Madrid. (ultimo acceso: 22/03/2020) https://www.europapress.es/epsocial/responsables/noticia-rsc-cobra-mas-peso-decisiones-compra-inversores-internacionales-expertos-20200114190641.html
Fernández-Gago, R.; Cabeza-García, L. y Nieto, M. (2018). Independent directors' background and CSR disclosure. Corporate Social Responsibility and Environmental Management, 25(5), 991-1001.
Fombrun C. (1996). Reputation: Realizing Value from the Corporate Image. Harvard Business School Press.
Fombrun, C. J. y Pan, M. (2006). Corporate reputations in China: How do consumers feel about companies? Corporate Reputation Review, 9(3), 165-170.
Fombrun, C. J.; Ponzi, L. J. y Newburry, W. (2015). Stakeholder tracking and analysis: The RepTrak ®system for measuring corporate reputation. Corporate Reputation Review, 18(1), 3-24.
Fombrun, C. y Shanley, M. (1990). What's in a name? Reputation building and corporate strategy. Academy of Management Journal, 33(2), 233-258.
Fombrun, C. J. y Van Riel, C. B. M. (2004). Fame & Fortune: How Successful Companies Build Winning Reputations. Prentice-Hall Financial Times.
Freeman, R. E. (1984). Strategic management: A stakeholder approach. Pitman.
Gardberg, N. A. y Fombrun, C. J. (2006). Corporate citizenship: Creating intangible assets across institutional environments. Academy of Management Review, 31(2), 329-346.
Golob, U.; Podnar, K.; Elving, W. J.; Ellerup Nielsen, A.; Thomsen, C. y Schultz, F. (2013). CSR communication: quo vadis? Corporate Communications: An International Journal, 18(2), 176-192.
Gray, R. (2000). Current developments and trends in social and environmental auditing, reporting and attestation: A review and comment. International Journal of Auditing, 4(3), 247-268.
Hall, R. (1992). The strategic analysis of intangible resources. Strategic Management Journal, 13(2), 135-144.
Hill, C. W. y Jones, T. M. (1992). Stakeholder-agency theory. Journal of Management Studies, 29(2), 131-154.
Hodge, K.; Subramaniam, N. y Stewart, J. (2009). Assurance of sustainability reports: Impact on report users' confidence and perceptions of information credibility. Australian Accounting Review, 19(3), 178-194.
Jensen, M. C. y Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Jitmaneeroj, B. (2017). The impact of corporate social responsibility on firm value: an application of structural equation modelling. International Journal of Business Governance and Ethics, 12(4), 306-329.
Lai, C. S.; Chiu, C. J.; Yang, C. F. y Pai, D. C. (2010). The effects of corporate social responsibility on brand performance: The mediating effect of industrial brand equity and corporate reputation. Journal of Business Ethics, 95(3), 457-469.
Lin, H.; Zeng, S.; Wang, L.; Zou, H. y Ma, H. (2016). How Does Environmental Irresponsibility Impair Corporate Reputation? A Multi-Method Investigation. Corporate Social Responsibility and Environmental Management, 23(6), 413-423.
Logsdon, J. M. y Wood, D. J. (2002). Reputation as an emerging construct in the business and society field: An introduction. Business & Society, 41(4), 365-370.
McWilliams, A. y Siegel, D. S. (2011). Creating and capturing value: Strategic corporate social responsibility, resource-based theory, and sustainable competitive advantage. Journal of Management, 37(5), 1.480-1.495.
Melo, T. y Garrido-Morgado, A. (2012). Corporate reputation: A combination of social responsibility and industry. Corporate Social Responsibility and Environmental Management, 19(1), 11-31.
Michelon, G.; Pilonato, S. y Ricceri, F. (2015). CSR reporting practices and the quality of disclosure: An empirical analysis. Critical Perspectives on Accounting, 33, 59-78.
Milgrom, P. y Roberts, J. (1986). Price and advertising signals of product quality. Journal of Political Economy, 94(4), 796-821.
Odriozola, M. D. y Baraibar-Diez, E. (2017). Is corporate reputation associated with quality of CSR reporting? Evidence from Spain. Corporate Social Responsibility and Environmental Management, 24(2), 121-132.
Othman, S.; Darus, F. y Arshad, R. (2011). The influence of coercive isomorphism on corporate social responsibility reporting and reputation. Social Responsibility Journal, 7(1), 118-135.
Owen, D. L.; Swift, T. A.; Humphrey, C. y Bowerman, M. (2000). The new social audits: accountability, managerial capture or the agenda of social champions? European Accounting Review, 9(1), 81-98.
Pérez, A. (2015). Corporate reputation and CSR reporting to stakeholders: Gaps in the literature and future lines of research. Corporate Communications: An International Journal, 20(1), 11-29.
Piechocki, R. (2004). Transparency of annual sustainability reports. Corporate Reputation Review, 7(2), 107-124.
Ponzi, L. J.; Fombrun, C. J. y Gardberg, N. A. (2011). RepTrak™ pulse: Conceptualizing and validating a short-form measure of corporate reputation. Corporate Reputation Review, 14(1), 15-35.
Rao, H. (1994). The social construction of reputation: Certification contests, legitimation, and the survival of organizations in the American automobile industry: 1895-1912. Strategic Management Journal, 15(S1), 29-44.
Roberts, P. W. y Dowling, G. R. (2002). Corporate reputation and sustained superior financial performance. Strategic Management Journal, 23(12), 1.077-1.093.
Rose, C. y Thomsen, S. (2004). The Impact of Corporate Reputation on Performance: Some Danish Evidence. European Management Journal, 22(2), 201-210.
Rowley, T. y Berman, S. (2000). A brand new brand of corporate social performance. Business & Society, 39(4), 397-418.
Russo, M. V. y Fouts, P. A. (1997). A resource-based perspective on corporate environmental performance and profitability. Academy of Management Journal, 40(3), 534-559.
Sacconi, L. (2007). A social contract account for CSR as an extended model of corporate governance (II): Compliance, reputation and reciprocity. Journal of Business Ethics, 75(1), 77-96.
Serafeim, G. (2015). Integrated reporting and investor clientele. Journal of Applied Corporate Finance, 27(2), 34-51.
Sierra-García, L.; Zorio-Grima, A. y García-Benau, M. A. (2015). Stakeholder engagement, corporate social responsibility and integrated reporting: an exploratory study. Corporate Social Responsibility and Environmental Management, 22(5), 286-304.
Surroca, J.; Tribó, J. A. y Waddock, S. (2010). Corporate responsibility and financial performance: The role of intangible resources. Strategic Management Journal, 31(5), 463-490.
Tang, A. K.; Lai, K. H. y Cheng, T. C. E. (2012). Environmental governance of enterprises and their economic upshot through corporate reputation and customer satisfaction. Business Strategy and the Environment, 21(6), 401-411.
Thomson Reuters Eikon™ (2016). Thomson Reuters ESG Scores. https://financial.thomsonreuters.com/content/dam/openweb/documents/pdf/financial/esg-scores-methodology.pdf (acceso 24/09/2017).
Toms, J. S. (2002). Firm resources, quality signals and the determinants of corporate environmental reputation: some UK evidence. The British Accounting Review, 34(3), 257-282.
Van der Laan Smith, J.; Adhikari, A. y Tondkar, R. H. (2005). Exploring differences in social disclosures internationally: A stakeholder perspective. Journal of Accounting and Public Policy, 24(2), 123-151.
Vergin, R. C. y Qoronfleh, M. W. (1998). Corporate reputation and the stock market. Business Horizons, 41(1), 19-26.
Vidaver-Cohen, D. y Brønn, P. S. (2015). Reputation, responsibility, and stakeholder support in Scandinavian firms: A comparative analysis. Journal of Business Ethics, 127(1), 49-64.
Villafañe, J. (2004). La buena reputación. Claves del valor intangible de las empresas. Anaya.
Waddock, S. y Googins, B. K. (2011). The paradoxes of communicating corporate social responsibility. The handbook of communication and corporate social responsibility (pp. 23-43). John Wiley & Sons, Inc.
Wartick, S. L. (1992). The relationship between intense media exposure and change in corporate reputation. Business and Society, 31(1), 33-42. https://doi.org/10.1016/j.jclepro.2017.02.180
Williams, R. J. y Barrett, J. D. (2000). Corporate philanthropy, criminal activity, and firm reputation: Is there a link? Journal of Business Ethics, 26(4), 341-350.
