This study examines the effect that environmental, social and governance (ESG) disclosure generates on the cost of equity capital in the food and beverage (F&B) sector.,This study analyses a sample of 171 international listed firms pertaining to the F&B sector and headquartered in North America, Western Europe and Asia Pacific (developed), forming an unbalanced panel of 1,316 observations, spanning the period 2010–2019. We run a fixed-effects panel regression model to test the relationship between ESG disclosure and the cost of equity capital.,Our empirical outcomes suggest a significant negative relationship between ESG disclosure and the cost of equity capital. We find support for the notion that increased levels of ESG disclosure are linked to an improved access to financial resources for firms.,This is the first study that analyses the impact of ESG disclosure on the cost of equity capital in the F&B sector, taking existing literature a step further into more detailed and specific aspects of the relationship of focus.

Non-financial information and cost of equity capital: an empirical analysis in the food and beverage industry

Abstract In recent years, to solve the problems related to sustainability, there is an increasing need for a transition from linear production and consumption systems to new models oriented toward reusing, reducing and recycling. In the academic field, several scholars have turned their attention to the adoption by companies of the new circular economy (CE) models. Due to the interest of a large number of stakeholders in issues related to the CE, several scholars have begun to explore the CE disclosure (CED) practices of companies. Despite this, studies on the topic are still limited. This study, under the lens of communication and stakeholder theories, aims, first, to examine the level of CE information disseminated by companies via Twitter and, second, to explore the impact of some firm characteristics on the level of CED. The econometric analysis, conducted on a sample of 141 companies belonging to the S&amp;P 500 index, shows that the most profitable and most indebted companies disclose a greater amount of CE information through their official Twitter accounts. Furthermore, it demonstrates a lower propensity by energy companies to disclose CE information via Twitter compared to firms operating in other highly polluting sectors. 

Social media to disseminate circular economy information. An empirical analysis on Twitter

Today’s society is a high-speed development of society, science and technology is developed, information flow, people’s communication is more and more close, life is more and more convenient, big data is the product of this high-tech era. Therefore, in this context, the inevitable development trend of some application fields is to use and develop large-scale information in the management of archives information. In order to make accounting archives information more extensive, active, timeliness and pertinence, we should apply multimedia technology in big data, which can not only provide great technical support for the management of archives information, but also provide archives information resources through multimedia computers. When we obtain rich and colorful archives resources, it will become very important. Convenient. In order to speed up the construction of accounting archives informatization, we must first enhance the importance of accounting archives, cultivate compound management talents, and improve the security mechanism. And through the sharing of archives information resources and the utilization of archives information resources, we can better promote the development of accounting archives informatization.

Application Research of Accounting Archives Informatization Based on Big Data.

The purpose of the article is to measure the extent of voluntary disclosure on the websites of Lithuanian companies and to investigate whether there is significant association between theoretically possible determinants of voluntary disclosure and the extent of voluntary financial and non – financial information disclosure on companies’ websites. Methods of research: comparative analysis of scientific literature, logical, systematic analysis, content analysis using scope and quantity index approaches, correlation analysis using Spearman’s rank correlation coefficient. Results showed statistically significant connection between a company's size (as determined by its earnings) and the company's disclosure index of voluntary information. The companies with more earnings are inclined to provide a wider scope of information and a larger volume of information by word count. There is no determined connection between the number of employees and the word quantity index. This research adds to the samples of previous studies, analyses disclosure of financial and non-financial information on companies’ websites.DOI: http://dx.doi.org/10.5755/j01.ee.29.4.17271

/pdf/information-disclosure-and-its-determinants-on-lithuanian-5ehs8lrqm2.pdf

Information Disclosure and its Determinants on Lithuanian Companies Websites: Quantitative Approach

The current paper aims to conduct a comprehensive systematic review of the existing literature on web‐based Corporate Social Responsibility (CSR) disclosure practices and introduce suggestions for scholars in this research area. To achieve this main objective, a systematic literature review technique was adopted, consisting of the content analysis of 119 papers from different scientific databases utilizing specific inclusion and exclusion criteria. The findings of the study show that scholars have a strong and continuing interest in a variety of web‐based Corporate Social Responsibility disclosure (CSRD) aspects. Moreover, the investigation revealed that stakeholder, legitimacy, institutional, and Media‐Richness theories were more prevalent in the online CSRD literature. According to the investigation, the two key determinants of online CSRD are firm‐ and country‐level characteristics. The results further confirm that content analysis is the most common research methodology. Furthermore, the bulk of online CSRD studies are from Spain, Malaysia, and the United States. Moreover, findings indicate that samples of 91 up to 200 entities from listed companies from multiple industries and banks are the most common sample sizes and sectors. The review suggests that there is a gap in the use of mixed methodological studies. The current work has some limitations. In more detail, this study limited the search to reviewing 119 papers published in English peer‐reviewed journals that focused on web‐based CSR disclosure practices until February 2023, so there might be other academic studies accidentally missed. Future studies will require a mixed methodological approach, including quantitative (e.g., document analysis) and qualitative research methods (i.e., interviews and case studies), to examine, for example, the determinants (e.g., corporate governance mechanisms, cultural dimensions, ESG performance scores, and prosperity status like country governance, investment environment) and consequences (i.e., corporate cash holdings, credit ratings) of web‐based CSR disclosure in various sectors such as the banking sector, Universities, SMEs, and MNCs. The study reveals a strong interest in web‐based CSR aspects, emphasizing its significance in fostering societal relationships among businesses and their stakeholders. Furthermore, the study suggests that professional bodies, regulators, and policymakers should establish effective standards for CSRD on websites to ensure the quality, quantity, and type of information available. The originality of this paper derives from its being one of the first papers to date that analyses comprehensively and systematically all the articles related to internet CSR disclosure practices and brings out interesting directions for future research.

Web‐based corporate social responsibility disclosure practices: A systematic literature review and research directions

Purpose –Web-based CSR disclosure provides a variety of advantages for firms. Determining factors for web-based CSR disclosure have been analyzed in several papers. However, only limited research has been conducted on both, the food industry and small and midsized enterprises. This paper is one contribution to fill this gap as we investigate web-based CSR communication of food processors including SME. Design/methodology/approach – We analyzed corporate communication on the websites of 71 food producers from North Rhine-Westphalia, Germany using dictionary-based content analysis. Based on an ordered logit model the relationship between CSR communication and size, profitability, indebtedness and closeness to market was estimated. Economic data were obtained from the commercial database DAFNE. Findings – Our results reveal that larger firms provide relatively more CSR information than smaller firms. There was no significant relationship between CSR disclosure and profitability or indebtedness of a company and an ambiguous relationship with regard to the determinant ‘closeness to market’. Regarding the different areas of communication we found that social compared to environmental aspects were underrepresented. Practical implications – Social aspects of CSR could be used for differentiation in the market. Furthermore, as smaller firms provide relatively less information on CSR it might be worthwhile to analyze the central impediments for CSR communication for those companies. Originality/Value – This paper contributes to the ongoing discussion about firms’ CSR communication. From a convenience sample of 71 food processing firms, including SME, it provides insight regarding the determinants for CSR disclosure on firms’ websites. With the focus on the food industry and the inclusion of SME we contribute with our study to two under-researched areas.

/pdf/determinants-of-web-based-csr-disclosure-in-the-food-26hszc0hw3.pdf

Determinants of Web-based CSR Disclosure in the Food Industry

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Determinants of Web-based CSR Disclosure in the Food Industry