{"title":"CSR Restatements: Mischief or Mistake?","authors":"Rebecca L. Bachmann, Helen Spiropoulos","doi":"10.2308/jmar-2022-028","DOIUrl":null,"url":null,"abstract":"\n Using a sample of Australian Securities Exchange Ltd. (ASX) 500 firms over the 2004–2020 period, we find that contracting on corporate social responsibility (CSR) increases the likelihood of CSR restatements and that these restatements are biased toward showing improvements in CSR performance for the current period. This is especially the case when firms contract on social CSR performance measures. We also find that CEOs’ short-term incentive compensation is significantly greater when restatements result in improved comparative performance, but only for firms that contract on CSR. Overall, our results suggest that contracting on CSR is another explanation for the increasing prevalence of CSR restatements and that standard setters should address metrics and measures when formulating policies with respect to CSR reporting.\n Data Availability: Data are available from the public sources cited in the text.\n JEL Classifications: M12; M14; M52.","PeriodicalId":46474,"journal":{"name":"Journal of Management Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.4000,"publicationDate":"2023-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Management Accounting Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2308/jmar-2022-028","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 1
Abstract
Using a sample of Australian Securities Exchange Ltd. (ASX) 500 firms over the 2004–2020 period, we find that contracting on corporate social responsibility (CSR) increases the likelihood of CSR restatements and that these restatements are biased toward showing improvements in CSR performance for the current period. This is especially the case when firms contract on social CSR performance measures. We also find that CEOs’ short-term incentive compensation is significantly greater when restatements result in improved comparative performance, but only for firms that contract on CSR. Overall, our results suggest that contracting on CSR is another explanation for the increasing prevalence of CSR restatements and that standard setters should address metrics and measures when formulating policies with respect to CSR reporting.
Data Availability: Data are available from the public sources cited in the text.
JEL Classifications: M12; M14; M52.
期刊介绍：
The mission of the Journal of Management Accounting Research (JMAR) is to advance the theory and practice of management accounting through publication of high-quality applied and theoretical research, using any well-executed research method. JMAR serves the global community of scholars and practitioners whose work impacts or is informed by the role that accounting information plays in decision-making and performance measurement within organizations. Settings may include profit and not-for profit organizations, service, retail and manufacturing organizations and domestic, foreign, and multinational firms. JMAR furthermore seeks to advance an understanding of management accounting in its broader context, such as issues related to the interface between internal and external reporting or taxation. New theories, topical areas, and research methods, as well as original research with novel implications to improve practice and disseminate the best managerial accounting practices are encouraged.
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