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    CSR performance and tax aggressiveness : evidence from Malaysia : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Accountancy at Massey University, Manawatu Campus, New Zealand
    (Massey University, 2024) Shanmugam, Santhi
    Globally, government debt has risen substantially, and the need to increase revenue to meet society's needs has become paramount, yet some companies are tax aggressive. Drawing upon shareholder and stakeholder theories, this thesis examines the relationship between CSR performance and tax aggressiveness using 556 observations spanning from 2008 to 2021. The study applies a quantitative research method using regression analysis to test the hypotheses. To gain a deeper understanding of which specific dimension of CSR performance (environmental, social or governance) influences tax aggressiveness, this thesis delves into exploring the connection between the individual dimension of CSR performance and tax aggressiveness. To overcome the limitations of prior studies, the thesis also examines the effect of the Sustainability Reporting Guide (SRG) and FTSE4Good Bursa Malaysia (F4GBM) on CSR performance and tax aggressiveness of Malaysian public listed companies. The thesis results reveal a significant finding. There is a positive relationship between CSR performance and tax aggressiveness, suggesting that socially responsible companies in Malaysia engage in tax aggressiveness and do not consider tax as part of CSR performance. Instead, companies view tax and CSR performance as substitutes and perceive reductions in tax payments through tax aggressiveness as a means to generate more profits. This allows them to invest in innovation, create job opportunities, and contribute directly to societal well-being while meeting shareholders' expectations of profit maximisation. The results also show that different dimensions of CSR performance relate differently to tax aggressiveness. Environmental performance exhibits an insignificant relationship, while governance and social dimensions show positive relationships. Further, the study shows that the introduction of SRG and the presence of the F4GBM index, to some extent, affects the relationship between CSR performance and tax aggressiveness. The results suggest that firms adopting SRG and listing in the F4GBM index recognise the importance of meeting the needs of their different stakeholders beyond the needs of shareholders, thus mitigating the positive relationship between CSR performance and tax aggressiveness. The study contributes to the literature on CSR performance by unravelling the overarching influence of CSR performance on tax aggressiveness. The study shows that Malaysian companies view tax and CSR performance as having a substitutive relationship, indicating that they prioritise the interests of shareholders over broader stakeholder considerations. The key contribution is the examination of SRG and F4GBM on the relationship between CSR performance and tax aggressiveness. It provides insights into the role of regulatory pressure and the effect of compliance on the SRG and corporate reputation through listing in the (F4GBM) Index on the relationship between CSR performance and tax aggressiveness of Malaysian companies. Additionally, the study provides evidence on how each dimension of CSR performance contributes to shaping tax aggressiveness, covering an expansive timeframe, thus providing a unique and comprehensive view of the evolution of CSR performance and its correlation with tax aggressiveness.
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    Towards mandatory international corporate social responsibility standards : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Accountancy at Massey University, Auckland, New Zealand
    (Massey University, 2024-12-11) Nomura, Takumi
    This research examines the effect of multiple global corporate social responsibility (CSR) frameworks/standards/guidelines (hereafter, CSR pronouncements) on various consequences using data of EU firms. Understanding the effects of global CSR pronouncements is important for foreseeing the future of CSR reporting. This study is organised into three different research essays: (i) agency cost; (ii) harmonisation of CSR reporting; and (iii) market liquidity. Essay One examines effects of using multiple CSR pronouncements on agency problems/agency costs. A sample of 2,605 firm-year observations that voluntarily use CSR pronouncements is drawn from across 24 European Union (EU) countries. Firms that apply more CSR pronouncements are found to be associated with lower levels of agency costs. These results are robust after testing for endogeneity arising from omitted variables and reverse causality. Findings suggest that use of multiple CSR pronouncements has a disciplining role for managers, and hence should be of interest to preparers and users of CSR reports, regulators, standard-setters, and academics. Essay Two examines whether use of multiple CSR pronouncements mitigates this i.e., promotes harmonisation of CSR reporting. A sample of 2,085 firm-year observations is drawn from 17 EU countries to test voluntary CSR reporters. These tests provide evidence that upward harmonisation in CSR reporting increases as firms apply more CSR pronouncements. The results suggest that use of multiple global CSR pronouncements reduces selective reporting and promotes harmonisation of CSR reports. These results are robust after controlling for endogeneity arising from omitted variables and reverse causality. These findings should be of interest to preparers and users of CSR reports, as well as to regulators, standard-setters, and academics. Essay Three investigates the effects of CSR pronouncements on market information asymmetry for 2,200 firms from 14 EU countries for the years 2015-2019. The results suggest that usage of multiple CSR pronouncements is negatively associated with bid-ask spread. These results are robust after testing for endogeneity arising from omitted variables and reverse causality. The results support voluntary disclosure theory and suggest that use of multiple CSR pronouncements improves market liquidity. These findings should be of interest to preparers and users of CSR reports, regulators, standard-setters, and academics.
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    Corporate social responsibility in small and medium enterprises in Vietnam : doing good to do well : a thesis presented in partial fulfilment of the requirement for the degree of Doctor of Philosophy in Management at Massey University, New Zealand
    (Massey University, 2021) Nguyen, Minh
    Corporate social responsibility (CSR) has received growing attention over recent years. However, scant attention has been paid to investigating the implementation of CSR from the perspective of small and medium enterprises (SMEs) in a developing country context. Along with the focus on developed countries, existing research underpinned by the institutional theory has mainly focused on macro-institutional determinants and cross-national variations in CSR practices. Despite the pivotal role of SME owner-managers, there is a lack of understanding on the underlying mechanisms by which institutional structure and owner-managers’ agency interact to influence the construction of CSR in different contexts. This thesis aims to theoretically and empirically understand CSR in SMEs in developing countries. Accordingly, the study seeks to answer the question: “How do Vietnamese SMEs engage in CSR practices?”. Vietnam was selected as a novel context for CSR due to its distinctive history and cultural admixture, the prominent role of the state in the country, and its recent integration into the global economy. In Vietnam, there is not only a mixture of Western and Eastern philosophies and practices but also a blend of capitalist and socialist values in play. The rich and complex social and cultural aspects of Vietnam along with its contemporary transitional economy highlight research opportunities to explore CSR practices in their distinctive and special milieu. Following a qualitative methodology aligned to the interpretive paradigm, this study employed a case study method and undertook 21 interviews drawing on 17 owner-managers from 13 organisations together with four key informants. In addition, supporting data were also collected via observations, field notes, and documents for data triangulation. The collected data was then manually analysed using the thematic analysis method. A conceptual framework using constructs of Bourdieu’s theory of social practice guided the data analysis. This framework allowed multiple levels of analysis, specifically in understanding the interaction between the agency of SME owner-managers and institutional variables that contribute to the development of CSR among SMEs. The thesis contains two empirical findings chapters. The first chapter explores CSR initiatives that SMEs in Vietnam are adopting and identifies the institutional influences that contribute to the development of CSR practices. The second chapter investigates the role that owner-managers play in shaping CSR practices among SMEs. The empirical findings reveal that there is evidence of a significant degree of divergence in terms of CSR practices among SMEs within the same institutional structure. These varied CSR expressions can be explained in light of the ambiguous institutional environment in which SMEs are embedded which is composed of factors, namely tradition, political governance, and modernity. These interconnected and competing institutional structures then provide scope for owner-managers, as primary decision-makers, to exercise their agency in shaping CSR. Through the theoretical lens of Bourdieu’s theory of practice, this study demonstrates the mechanisms by which owner-managers utilise their own agent capability, stemming from individual preference, perceptions, and ways of thinking, in response to the institutional influences of CSR. By acknowledging the interactions between structure and agency, this research contributes to a coherent body of knowledge related to the complex construction of CSR in SMEs in developing countries and adds to the body of recent studies which try to understand how individuals navigate competing institutional demands.
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    Sustainability in the mining sector of Ghana : an empirical study : a thesis presented in partial fulfilment of the requirement for the degree of Doctor of Philosophy in Management at Massey University, Albany, Auckland, New Zealand
    (Massey University, 2021) Amoah, Prince
    Sustainability in mining has received much global attention in recent years from academics, policy makers, and industry leaders, and other players. However, scant attention has been paid to examining the sustainability practices of mining companies within developing countries in addressing the proximate and long-term social and environmental impacts of mining activities. To address this knowledge gap, this study examines how large-scale mining companies address their social and environmental impacts through their sustainability practices. This study is situated within an interpretivist paradigm and employs a qualitative research methodology based on multiple cases, drawing on data from interviews with six (6) managers of multinational mining companies operating in Ghana, and 12 key stakeholder groups. This thesis contains four empirical findings chapters. The first of these examines the sustainability practices of large-scale mining companies in addressing environmental impacts throughout mine lifecycle. The findings indicate that the environmental sustainability practices are determined by regulatory compliance and corporate environmental responsibility. Although the environmental sustainability practices are predicated on the requirements in relevant policies and legislation, the findings demonstrate that regulatory pressures drive large-scale mining companies to embrace beyond compliance initiatives based on perceived ethical obligations. The second findings chapter examines the barriers to environmental sustainability implementation in large-scale mining in Ghana. The findings demonstrate that both institutional and corporate challenges are hindering effective sustainability implementation. The third findings chapter investigates the sustainability practices of large-scale mining companies in addressing social impacts throughout mining development. The findings show that large-scale mining companies have embraced a broader scope of social sustainability implementation based on a changing institutional environment. Drawing on stakeholder theory, the findings indicate that mine managers address social sustainability challenges based on instrumental and normative considerations. The fourth and final findings chapter examines the drivers for and barriers to mining companies’ social sustainability practices by drawing on stakeholder theory and institutional theory. The findings suggest that regulatory evolution, institutional pressures, post-closure legacies, transparency and disclosures, and managerial cognition are key drivers for the social sustainability implementation of large-scale mining companies. On the contrary, the barriers to social sustainability implementation stem from institutional voids and divergent stakeholder interests. Thus, by doing a critical reflection of the findings, this study contributes to theory by offering a series of propositions and suggesting a holistic framework for social and environmental sustainability implementation. Regarding stakeholder theory, the findings show that Large-scale mining companies experience fewer pressures from local communities and activists because of their lack of proactive engagement on environmental sustainability issues. Drawing on institutional theory, the findings suggest that multiple and contradictory logics within various institutional arrangements undermine social and environmental sustainability implementation. Additionally, this study provides a frame of reference for practitioners including mining companies and mine managers, regulatory officials, policy makers, and mining pressures groups who are involved in social and environmental sustainability implementation. Future research may consider data sets from other empirical domains, which might uncover differences in the emerging framework for sustainability implementation.
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    An examination of CSR decoupling in Pakistan : a research journey through tight and loosely coupled environments : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy, School of Management, Massey University, Manawatu, New Zealand
    (Massey University, 2020) Khan, Majid
    The literature on CSR has been debated among organisational scholars not only for its benefit to society and the environment but also its positive influence on business and organisations. Research suggests that strong government, markets and civil society are also necessary conditions for businesses to behave in a socially responsible way. However, due to its focus on developed economies limited contextual knowledge has emerged, especially that from developing countries. Within this latter context there is a lack of understanding of how businesses use reporting to create an impression of social responsibility while masking their actual performance, suspected to be the result of a weak institutional environment. By drawing on (neo)-institutional theory this research addresses this theoretical gap, demonstrating that CSR policies and practices are shaped by their embeddedness in the prevailing institutional environment. More specifically, this research explores questions related to CSR reporting, practice, and the decoupling between CSR rhetoric and actual performance in Pakistan. The research design comprised a multi-methodological approach using data quadrangulation. First, quantitative content analysis of 29 listed companies was conducted, drawing longitudinal data from publicly listed annual reports (2001, 2006, 2011 & 2017 – five-yearly intervals) to understand the extent of CSR reporting in Pakistan. Second, in-depth semi-structured interviews were conducted with 23 respondents comprising of CSR/sustainability managers, national regulators, and members of CSR promoting institutions in the country. Third, the originality of reports was examined using TurnitinTM and TinEyeTM. Finally, a discourse analysis of text and related images in reports was conducted to describe, interpret and explain contextualised meanings of language used. The results show that CSR, as perceived by many stakeholders actually has limited understanding and currently few benefits in Pakistan. The drivers identified for CSR policies and practices were found to be significantly different from that studied in the developed world. Additionally, unique instances of widespread decoupling are highlighted in the form of the lack of originality in texts, and the use of digitally manipulated images in CSR reports, thereby, suggesting that such behaviour is deliberate. The research makes important theoretical and methodological contributions to the nexus of business and society in a developing country, especially one suffering from a weak institutional environment.