DO INSTITUTIONAL PRESSURES IMPACT VOLUNTARY ENVIRONMENT INFORMATION DISCLOSURE?
Keywords:
Coercive Pressure, Mimetic Pressure, Normative Pressure, Voluntary Environment Information Disclosure.
Abstract
Over the past decades, China's rapid economic growth has mainly come at the expense of excessive energy consumption, resulting in significant carbon dioxide emissions and other environmental challenges. China has pledged to peak its carbon emissions by 2030 to address the rising emissions, aiming for near-zero carbon neutrality by 2060. In this context, the legitimacy of institutions is essential, as it sheds light on the various effects of institutional pressures on organizational strategies and behaviors. Companies are increasingly improving their voluntary disclosure of environmental information to maintain legitimacy. However, many companies still need to determine whether the public and stakeholders value their environmental and social performance. Managers often believe that the costs of voluntary disclosure outweigh the benefits. This study analyzes how institutional pressures—coercive, normative, and mimetic pressure—affect voluntary environmental information disclosure in China. We gathered survey responses from managers at 93 listed manufacturing companies based in China. A cross-sectional quantitative approach was utilized, with data collection occurring between March and May 2024. We employed Partial Least Squares Structural Equation Modeling (PLS-SEM) to investigate the impact of institutional pressures on the voluntary disclosure of environmental information. The findings suggest that coercive and normative pressures significantly enhance voluntary environmental information disclosure, whereas mimetic pressure shows no significant effect. These findings indicate that voluntary environmental information disclosure in China remains underdeveloped and lacks a clear industry framework. As a result, companies are increasingly prioritizing compliance with regulatory standards and actively engaging with stakeholders rather than simply imitating the behaviors of their peers.
JEL Classification Codes: L1, L2, L6.
References
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Ben-Amar, W., & Chelli, M. (2018). What drives voluntary corporate water disclosures? The effect of country-level institutions. Business Strategy and the Environment, 27(8), 1609–1622. https://doi.org/10.1002/bse.2227
Bebbington, J., Kirk, E. A., & Larrinaga, C. (2012). The production of normativity: A comparison of reporting regimes in Spain and the UK. Accounting, Organizations and Society, 37(2), 78–94. https://doi.org/10.1016/j.aos.2012.01.001
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Deegan, C. (2002). Introduction: The legitimising effect of social and environmental disclosures–a theoretical foundation. Accounting, auditing & accountability journal, 15(3), 282–311. https://doi.org/10.1108/09513570210435852
Di Vaio, A., Varriale, L., Di Gregorio, A., & Adomako, S. (2022). Corporate social performance and non‐financial reporting in the cruise industry: Paving the way towards UN Agenda 2030. Corporate Social Responsibility and Environmental Management, 29(6), 1931-1953. https://doi.org/10.1002/csr.2292
Dissanayake, D., Tilt, C., & Qian, W. (2019). Factors influencing sustainability reporting by Sri Lankan companies. Pacific Accounting Review, 31(1), 84–109. https://doi.org/10.1108/par-10-2017-0085
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Edeh, F. O., Zayed, N. M., Darwish, S., Nitsenko, V., Hanechko, I., & Islam, K. M. A. (2023). Impression management and employee contextual performance in service organizations (enterprises). Emerging Science Journal, 7(2), 366-384.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of marketing research, 18(1), 39-50. https://doi.org/10.1177/002224378101800104
García-Sánchez, I. M., Cuadrado-Ballesteros, B., & Frias-Aceituno, J. V. (2016). Impact of the institutional macro context on the voluntary disclosure of CSR information. Long Range Planning, 49(1), 15-35. https://doi.org/10.1016/j.lrp.2015.02.004
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Gray, S. J. (1988). Towards a theory of cultural influence on the development of accounting systems internationally. Abacus, 24(1), 1–15. https://doi.org/10.1111/j.1467-6281.1988.tb00200.x
García-Sánchez, I. M., Rodríguez-Ariza, L., & Frías-Aceituno, J. V. (2013). The cultural system and integrated reporting. International Business Review, 22(5), 828–838. https://doi.org/10.1016/j.ibusrev.2013.01.007
Gallego-Álvarez, I., & Pucheta-Martínez, M. C. (2020). How cultural dimensions, legal systems, and industry affect environmental reporting? Empirical evidence from an international perspective. Business Strategy and the Environment, 29(5), 2037–2057. https://doi.org/10.1002/bse.2486
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis (7th ed.). Englewood Cliffs: Prentice Hall.
Halkos, G., & Skouloudis, A. (2017). Revisiting the relationship between corporate social responsibility and national culture: A quantitative assessment. Management Decision, 55(3), 595–613. https://doi.org/10.1108/MD-12-2016-0868
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Henseler, J., & Sarstedt, M. (2013). Goodness-of-fit indices for partial least squares path modelling. Computational Statistics, 28, 565–580. https://doi.org/10.1007/s00180-012-0317-1
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Iliya Nyahas, S., Munene, J. C., Orobia, L., & Kigongo Kaawaase, T. (2017). Isomorphic influences and voluntary disclosure: The mediating role of organizational culture. Cogent Business & Management, 4(1), 1351144. https://doi.org/10.1080/23311975.2017.1351144
Kumar, K., Kumari, R., Poonia, A., & Kumar, R. (2021). Factors influencing corporate sustainability disclosure practices: empirical evidence from Indian National Stock Exchange. Journal of Financial Reporting and Accounting, 21(2), 300-321. https://doi.org/10.1108/jfra-01-2021-0023
Krasodomska, J., Simnett, R., & Street, D. L. (2021). Extended external reporting assurance: Current practices and challenges. Journal of International Financial Management & Accounting, 32(1), 104–142. https://doi.org/10.1111/jifm.12127.
Kouloukoui, D., de Marcellis-Warin, N., Armellini, F., Warin, T., & Torres, E. A. (2021). Factors influencing the perception of exposure to climate risks: Evidence from the world’s largest carbon-intensive industries. Journal of Cleaner Production, 306, 127160. https://doi.org/10.1016/j.jclepro.2021.127160
Karwowski, M., & Raulinajtys‐Grzybek, M. (2021). The application of corporate social responsibility (CSR) actions for mitigation of environmental, social, corporate governance (ESG) and reputational risk in integrated reports. Corporate Social Responsibility and Environmental Management, 28(4), 1270-1284. https://doi.org/10.1002/csr.2137
Lodge, M., & Wegrich, K. (2005). Control over government: Institutional isomorphism and governance dynamics in German public administration. Policy Studies Journal, 33(2), 213-233. https://doi.org/10.1111/j.1541-0072.2005.00103.x
Latif, B., Mahmood, Z., Tze San, O., Mohd Said, R., & Bakhsh, A. (2020). Coercive, normative and mimetic pressures as drivers of environmental management accounting adoption. Sustainability, 12(11), 4506. https://doi.org/10.3390/su12114506
Luque-Vilchez, M., & Larrinaga, C. (2016). Reporting models do not translate well: Failing to regulate CSR reporting in Spain. Social and Environmental Accountability Journal, 36(1), 56-75 https://doi.org/10.1080/0969160X.2016.1149301
La Torre, M., Sabelfeld, S., Blomkvist, M., Tarquinio, L., & Dumay, J. (2018). Harmonising non-financial reporting regulation in Europe: Practical forces and projections for future research. Meditari Accountancy Research, 26(4), 598-62. https://doi.org/10.1108/MEDAR-02-2018-0290
Lakshan, A. M. I., Low, M., & de Villiers, C. (2022). Challenges of, and techniques for, materiality determination of non-financial information used by integrated report preparers. Meditari Accountancy Research, 30(3), 626–660. https://doi.org/10.1108/medar-11-2020-1107
Lee, M. J., Pak, A., & Roh, T. (2024). The interplay of institutional pressures, digitalization capability, environmental, social, and governance strategy, and triple bottom line performance: A moderated mediation model. Business Strategy and the Environment, 33(6), 5247-5268. https://doi.org/10.1002/bse.3755
Liu, Z., Deng, Z., He, G., Wang, H., Zhang, X., Lin, J., Qi, Y., & Liang, X. (2022). Challenges and opportunities for carbon neutrality in China. Nature Reviews Earth & Environment, 3(2), 141-155. https://doi.org/10.1038/s43017-021-00244-x
Masum, M. H., Latiff, A. R. A., & Osman, M. N. H. (2020). Determinants of corporate voluntary disclosure in a transition economy. Problems and Perspectives in Management, 18(4), 130-141. https://doi.org/10.21511/ppm.18(4).2020.12
Mehedi, S., Nahar, S., & Jalaludin, D. (2024). Determinants of corporate climate change disclosure: Is the mediating role of corporate strategic response to environmental governance and policy matter? Evidence from emerging market. Sustainable Development, 32(1), 195-210. https://doi.org/10.1002/sd.2641
Masoud, N., & Vij, A. (2021). Factors influencing corporate social responsibility disclosure (CSRD) by Libyan state-owned enterprises (SOEs). Cogent Business & Management, 8(1), 1859850. https://doi.org/10.1080/23311975.2020.1859850
Nicolò, G., Zanellato, G., Esposito, B., & Tiron‐Tudor, A. (2024). Cultural dimensions and sustainability disclosure in the banking sector: Insights from a qualitative comparative analysis approach. Business Strategy and the Environment. https://doi.org/10.1002/bse.3911
Pizzi, S., Principale, S., Fasiello, R., & Imperiale, F. (2023). The institutionalisation of social and environmental accounting practices in Europe. Journal of Applied Accounting Research, 24, 816–838. https://doi.org/10.1108/JAAR-07-2022-0190
Pizzi, S., Del Baldo, M., Caputo, F., & Venturelli, A. (2022). Voluntary disclosure of Sustainable Development Goals in mandatory non‐financial reports: The moderating role of cultural dimension. Journal of International Financial Management & Accounting, 33(1), 83-106. https://doi.org/10.1111/jifm.12139
Pizzi, S., Rosati, F., & Venturelli, A. (2021). The determinants of business contribution to the 2030 Agenda: Introducing the SDG Reporting Score. Business Strategy and the Environment, 30(1), 404–421. https://doi.org/10.1002/bse.2628
Rashid, A., Shams, S., Bose, S., & Khan, H. (2020). CEO power and corporate social responsibility (CSR) disclosure: Does stakeholder influence matter?. Managerial Auditing Journal, 35(9), 1279–1312. https://doi.org/10.1108/MAJ-11-2019-2463
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Published
2024-11-22
How to Cite
Fan, J., Muhamad, H., Said, R. M., & Daud, Z. M. (2024). DO INSTITUTIONAL PRESSURES IMPACT VOLUNTARY ENVIRONMENT INFORMATION DISCLOSURE?. Bangladesh Journal of Multidisciplinary Scientific Research, 9(5), 29-38. https://doi.org/10.46281/bjmsr.v9i5.2254
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper
Copyright (c) 2024 Jing Fan, Haslinah Muhamad, Ridzwana Mohd Said, Zaidi Mat Daud
This work is licensed under a Creative Commons Attribution 4.0 International License.
