Mandatory CSR and sustainability reporting: economic analysis and literature review
梳理了美国企业强制披露CSR和可持续发展报告的潜在经济影响，涵盖资本市场、非投资者利益相关者及企业行为，并讨论了实施与执行问题，为政策辩论和未来研究提供参考。
Abstract This study collates potential economic effects of mandated disclosure and reporting standards for corporate social responsibility (CSR) and sustainability topics. We first outline key features of CSR reporting. Next, we draw on relevant academic literatures in accounting, finance, economics, and management to discuss and evaluate the potential economic consequences of a requirement for CSR and sustainability reporting for U.S. firms, including effects in capital markets, on stakeholders other than investors, and on firm behavior. We also discuss issues related to the implementation and enforcement of CSR and sustainability reporting standards as well as two approaches to sustainability reporting that differ in their overarching goals and materiality standards. Our analysis yields a number of insights that are relevant for the current debate on mandatory CSR and sustainability reporting. It also points scholars to avenues for future research.