How a Two‐Step Approach Discloses Different Determinants of Voluntary Social and Environmental Reporting
指出以往研究假设企业是否披露与披露水平的决定因素相同，通过对比比利时和美国上市公司数据，证明不区分这两类决定因素可能导致误导性结论。
Abstract: Previous research on the determinants of voluntary social and environmental disclosure assumes that the determinants underlying the company's decision to disclose and the disclosure level are the same. This paper addresses the influence of this assumption on: (i) the operationalization of the dependent variables; (ii) the estimation method; and (iii) the subsequent empirical results, using both a sample of listed Belgian and US firms. Overall, the findings suggest that not distinguishing between the determinants underlying the decision to disclose and the disclosure level may be misleading.