| SMART JOURNAL OF BUSINESS MANAGEMENT STUDIES |
VOL. 19 |
NO. 1 |
PAPER 10 |
10.5958/2321-2012.2023.00010.6 |
CORPORATE GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY DISCLOSURES: A COMPARATIVE ANALYSIS BETWEEN AUSTRALIAN AND SRI LANKAN MARKET |
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| Pratheepkanth Puwanenthiren* |
| Balaputhiran Sathasivam* |
* University of Jaffna, Sri Lanka |
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| This paper aims to investigate the effects of corporate governance and CSR disclosures, as well as how they vary depending on the level of economic development. 100 Australian (ASX200-listed) firms and 100 Sri Lankan firms provided the study's comparative data (Colombo-stock-exchange-listed firms). A quantitative research design based on secondary data is used to address the research questions. Using content analysis, CSR disclosure information was culled from annual reports and websites. Multivariate regression was used for data analysis and hypothesis testing. Only three factors—board size, audit committee independence, and firm size—were found to be related to the CSR disclosure index in both Australian and Sri Lankan companies, per the regression model's findings. In Australian companies, board independence is strongly correlated with the degree of CSR disclosure. In Australian and Sri Lankan companies, there is little correlation between CEO duality and disclosure of corporate social responsibility. The results are only applicable to the context of the study, which was restricted to listed Australian and Sri Lankan companies in 2020–2021. The study offers evidence on the connection between corporate governance and the degree of CSR in the context of a developed and an emerging economy as a comparative study. By concentrating on two different stages of economic development as a research context, the study contributes to the body of existing literature. |
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