An empirical exploration of the link between reporting to stakeholders and corporate social responsibility reputation in the Spanish context
基于利益相关者理论，研究了西班牙84家公司向不同利益相关者（投资者、监管者、媒体）报告信息的强度与企业社会责任声誉之间的关系，发现并非报告越多声誉越好，而是取决于特定利益相关者的报告强度。
Purpose Based on the principles of stakeholder theory, the purpose of this paper is to explore the relationship between the information reported to stakeholders in corporate social responsibility (CSR) reports and companies’ CSR reputation (CSRR). Design/methodology/approach The paper implements two regression models to test how reporting to stakeholders influences the CSRR of 84 companies included in the Spanish “MercoEmpresas Responsables” reputation index. Findings The results demonstrate that greater global reporting intensity to stakeholders does not necessarily mean a better CSRR. Contrarily, the reporting-reputation link depends on the intensity of reporting to specific stakeholders such as investors, regulators and the media. The findings are explained largely by the institutional, political and business characteristics of Spain after the Great Recession of 2007-2008. Research limitations/implications The evidence reported in this paper confirms stakeholder theory as an adequate framework to understand corporate reporting to stakeholders and its relationship with CSRR. The findings suggest that stakeholder salience (i.e. power, legitimacy and urgency) is a key concept for understanding the reporting-reputation link better in future research. Practical implications In the light of the findings, companies willing to use reporting to stakeholders as a tool to improve CSRR should establish regular mechanisms for monitoring stakeholder power, legitimacy and urgency, provide complete information to investors in their CSR reports and minimize the amount of detail provided to regulators and the media in their CSR reports. Originality/value There is still little empirical evidence concerning how the information to stakeholders contained in CSR reports influences the processes by which CSRR is built or destroyed. This paper contributes to the previous literature by describing how the global intensity of reporting to stakeholders and the intensity of reporting to different stakeholder groups relate to CSRR.