This is an outdated version published on 2022-12-07. Read the most recent version.

Pondering Digitalization: An Exploratory Study on Organizational Capitalization of Digital Media for Disclosing

Authors

Abstract

The goal of this study had as a premise a perceived gap of knowledge regarding the use of digital media and platforms by Romanian organizations with the purpose to disclose corporate social responsibility (CSR) information. In the context of the ever-increasing digitalization process, the research aimed to explore the current situation within the organizational setting to provide evidence on the type of media and content used and with a view to identifying possible trends. To objectively assess the situation, the study employed models developed by various researchers to measure CSR disclosure on corporate websites, Facebook and Twitter accounts. The results of the study indicate that the selected Romanian companies make limited use of online media for the purpose to reveal CSR. They rather prefer corporate websites and Facebook accounts to communicate such information to stakeholders, while Twitter is rarely utilized. The findings point to the fact that education and social development are the areas of CSR where Romanian companies mostly contribute, but, at the same time, they signal that the advantages and advances availed by systemic digitalization are yet to be properly exploited against the backdrop of CSR disclosure.

References

Argandoña, A. (2011). El argumento del Management (“Management Case”) a favor de la Responsabilidad Social de la Empresa. Documento de Investigación. IESE Business School, D-930.

Aureli, S. (2016). A comparison of content analysis usage and text mining in CSR corporate disclosure. The International Journal of Digital Accounting Research, 17(2017), 1-32. http://dx.doi.org/10.4192/1577-8517-v17_1

Baric, A. (2017). Corporate social responsibility and stakeholders: Review of the last decade (2006-2015). Business Systems Research, 8(1), 133-146. http://dx.doi.org/10.1515/bsrj-2017-0011

Bratianu, C. (2020). Toward understanding the complexity of the COVID-19 crisis: a grounded theory approach. Management & Marketing. Challenges for the Knowledge Society, 15(Special Issue), 410–423. https://doi.org/10.2478/mmcks-2020-0024

Bratianu, C., & Bejinaru, R. (2021). COVID-19 induced emergent knowledge strategies. Knowledge and Process Management, Special Issue, 1–7. https://doi.org/10.1002/kpm.1656

Brammer, S., Jackson, G., & Matten, D. (2012). Corporate Social Responsibility and institutional theory: new perspectives on private governance. Socio-economic Review 10(1), 3-28. https://doi.org/10.1093/ser/mwr030

Brundtland Report. (1987). Brundtland Report of the World Commission on Environment and Development: Our Common Future. http://www.un-documents.net/our-common-future.pdf

Bonsón, E., & Ratkai, M. (2013). A set of metrics to assess stakeholder engagement and social legitimacy on a corporate Facebook. Online Information Review, 37, 787–803. https://doi.org/10.1108/OIR-03-2012-0054

Carroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. Academy of Management Review, 4(4), 497-505. https://doi.org/10.2307/257850

Cole, L. (2003). Assessing sustainability on Canadian University campuses: development of a campus sustainability assessment framework. Royal Roads University.

Corazza, L. (2017). The standardization of down-Streamed Small Business Social Responsibility (SBSR): SMEs and their sustainability reporting practices. Information Resources Management Journal, 30(4), 39–52. https://doi.org/10.4018/IRMJ.2017100103

Chauvey, J. N., Giordano-Spring, S., Cho, C. H., & Patten, D. M. (2015). The normativity and legitimacy of CSR disclosure: evidence from France, Journal of Business Ethics, 130(4), 789-803. https://doi.org/10.1007/s10551-014-2114-y

Clarkson, M. (1995). A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance. Academy of Management Journal, 20(1), 92-118. https://doi.org/10.2307/258888

CSR Index Romania. (2018). CSR Index Romania 2018. https://www.slideshare.net/theazores/romania-csr-index-detailed-report-2018

Dawkins, J., & Lewis, S. (2003). CSR in stakeholder expectations: And their implication for company strategy. Journal of Business Ethics, 44(1), 185–193. https://doi.org/10.1023/A:1023399732720

Deegan, C. (2002). The legitimising effect of social and environmental disclosures – a theoretical foundation. Accounting, Auditing and Accountability Journal, 15(3), 282–311. https://doi.org/10.1108/09513570210435852

Delbard, O. (2008). CSR legislation in France and the European regulatory paradox: an analysis of EU CSR policy and sustainability reporting practice. Corporate Governance 8(4), 397-405. http://dx.doi.org/10.1108/14720700810899149

DIRECTIVE 2014/95/ OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups

DIRECTIVE 2013/34/ OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC

Dumay, J. (2016). A critical reflection on the future of intellectual capital: from reporting to disclosure. Journal of Intellectual Capital, 17(1), 168-184. https://doi.org/10.1108/JIC-08-2015-0072

Dumay, J., & Garanina , T. (2013). Intellectual capital research: a critical examination of the third stage. Journal of Intellectual Capital, 14(1), 10-25.

Dutot, V., Lacalle Galvez, E., & Versailles, D. W. (2016). CSR communications strategies through social media and influence on e-reputation. An exploratory study. Management Decision, 54, 363–389. https://doi.org/10.1108/MD-01-2015-0015

Epstein, M. J. (2008). Making Sustainability Work. Greenleaf Publishing Limited. https://doi.org/10.4324/9781351280129

Ernst & Young Romania. (2013). Studiu CSR [CSR Study]. https://www.csrmedia.ro

Etter, M. (2014). Broadcasting, reacting, engaging—Three strategies for CSR communication in Twitter. Journal of Communication Management, 18, 322–342. https://doi.org/10.1108/JCOM-01-2013-0007

European Commission. (2001). Promoting a European framework for Corporate Social Responsibility. https://ec.europa.eu/transparency/regdoc/rep/1/2001/EN/1-2001-366-EN-1-0.Pdf

European Commission. (2006). Communication from the Commission to the European Parliament, the Council and the European economic and social Committee: Implementing the partnership for growth and jobs: making Europe a pole of excellence on corporate social responsibility. https://eur-lex.europa.eu/LexUriServ/LexUriServ. do?uri=COM:2006:0136:FIN:en:PDF

European Commission. (2014). Taking stock of the Europe 2020 strategy for smart, sustainable and inclusive growth, Brussels, COM(2014) 130 final. Retrieved from http://ec.europa.eu/europe2020/pdf/europe2020stocktaking_en.pdf

European Commission. (2015). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions Closing the loop - An EU action plan for the circular economy. COM(2015) 614. https://ec.europa.eu/transparency/regdoc/rep/1/2015/EN/1-2015-614-EN-F1-1.PDF

European Commission. (2019). Report from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the regions on the implementation of the Circular Economy Action Plan. https://ec. europa.eu

Freeman, R. E., Harrison, J. S., Wicks, A. C., Parmar, BL., & de Colle, S. (2010). Stakeholder Theory: The State of the Art. Cambridge University Press.

Freeman, E., & Moutchnik, A. (2013). Stakeholder management and CSR: questions and answers. UWF, 21, 5–9 https://doi.org/10.1007/s00550-013-0266-3

Frey, C. B., Buckland, R., Mcdonald, G., Garlick, R., Coombs, A., Lai, A., & Mayo, R. (1990). Technology at Work. Manufacturing Engineer, 69(2), 8-10, https://doi.org/10.1049/me:19900029

Gamerschlag, R., Möller, K., & Verbeeten, F. (2011). Determinants of voluntary CSR disclosure: Empirical evidence from Germany. Review of Managerial Science, 5, 233–262. https://doi.org/10.1007/s11846-010-0052-3

Garriga, E., & Melé, D. (2004). Corporate Social Responsibility Theories: Mapping the Territory. Journal of Business Ethics, 53(1/2), 51-71. https://doi.org/10.1023/B:BUSI.0000039399.90587.34

Gaultier-Gaillard, S., & Louisot, J. P. (2006). Risks to reputation: A global approach. The Geneva Papers on Risk and Insurance - Issues and Practice, 31, 425–445. http://www.jstor.org/stable/41952892

Georgallis, P. (2016). The Link Between Social Movements and Corporate Social Initiatives: Toward a Multi-level Theory. Journal of Business Ethics, 142, 735-751. https://doi.org/10.1007/s10551-016-3111-0

Granda Revilla, G. (2018). CSR in Europe: A new micro-social contract? Ramon Llull Journal of Applied Ethics, 9(1), 75-94. https://raco.cat/index.php/rljae/article/view/338121

Gray, R. H., Owen, D., & Maunders, K. (1988). Corporate social reporting: emerging trends in accountability and the social contract. Accounting, Auditing and Accountability Journal, 1(1), 6-20. https://doi.org/10.1108/EUM0000000004617

Gray, R. H., Kouhy, R., & Lavers, S. (1995). Social and Environmental reporting. A review of the literature and a longitudinal study of UK disclosure. Accounting, Auditing & Accountability Journal, 8(2), 47-77. https://doi.org/10.1108/09513579510146996

Gray, R. H., Owen, D., & Adams, C. (1996). Accounting & Accountability: Changes and challenges in corporate social and environmental reporting. Prentice Hall.

Heesup, H., Jongsik Y., Kyung-Sik, L., & Hyungshin B. (2020). Impact of corporate social responsibilities on customer responses and brand choices. Journal of Travel & Tourism Marketing, 37(3), 302-316. https://doi.org/10.1080/10548408.2020.1746731

Hillman A. J., Withers M. C., & Collins B. J. (2009). Resource dependence theory: A review. Journal of Management, 35(6), 1404-1427. https://doi.org/10.1177/0149206309343469

Husillos, J., & Álvarez-Gil, M. J (2008). A Stakeholder-theory approach to environmental disclosures by small and medium enterprises (SMEs). Revista de Contabilidad, 11(1), 125-156

Jensen, M. (2002). Value maximization, stakeholder theory, and the corporate objective. Business Ethics Quarterly, 12(2), 235-256. https://doi.org/10.2307/3857812

Kaplan, A. M., & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of social media. Business Horizons, 53(1), 59–68. https://doi.org/10.1016/j.bushor.2009.09.003

Kemper, A., & Martin, R. (2010). After the fall: The global financial crisis as a test of corporate social responsibility theories. European Management Review, 7(4), 229–239. https://doi.org/10.1057/emr.2010.18

Lardo, A., Dumay, J., Trequattrini, R., & Russo, G. (2017). Social media networks as drivers for intellectual capital disclosure: Evidence from professional football clubs. Journal of Intellectual Capital, 18(1), 63-80. https://doi.org/10.1108/JIC-09-2016-0093

Logsdon, J. M., & Wood, D. (2002). Business Citizenship: From Domestic to Global Level of Analysis. Business Ethics Quarterly, 12(2), 155-187. https://doi.org/10.2307/3857809

Lozano, R. (2011) Addressing stakeholders and better contributing to sustainability through game theory. Journal of Corporate Citizenship, Autumn, 45–62. http://www.jstor.org/stable/jcorpciti.43.45

Margolis, J. D., Elfenbein, H. A., & Walsh, J. P. (2009). Does it pay to be good… and does it matter? A meta-analysis of the relationship between corporate social and financial performance. http://dx.doi.org/10.2139/ssrn.1866371

Matten, D., & Crane, A. (2005). Corporate citizenship: Toward an extended theoretical conceptualization. Academy of Management Review, 30(1), 166-179. http://dx.doi.org/10.5465/AMR.2005.15281448

Matten, D., & Moon, J. (2008). ‘Implicit’ and ‘Explicit’ CSR: A Conceptual Framework for a Comparative Understanding of Corporate Social Responsibility. Academy of Management Review, 33(2), 404-424. https://doi.org/10.5465/amr.2008.31193458

Meeh-Bunse, G., Hermeling, A., & Schomaker, S. (2017). Non-financial reporting for small and medium-sized enterprises in a legal and empirical context. In E. Tomé, G. Neumann & B. Knežević (Eds.), Proceedings of the International Conference Theory and Applications in the Knowledge Economy (pp. 68–77). TAKE.

Moldoveanu, I. (2022a). Looking into the Antecedents of the Transformation of IT Jobs. A Country-based Perspective. Management Dynamics in the Knowledge Economy. https://doi. org/10. 2478/mdke-2022-0017

Moldoveanu, I. (2022b). Managing the Impact of Digital Transformation on the Future of Jobs. A Sectoral Approach. A Semi-Systematic Literature Review. Review of International Comparative Management, 23(2), 439. https://doi.org/10.24818/RMCI.2022.3.439

Moneva, J. M., Archel, P., & Correa, C. (2006). GRI and the camouflaging of corporate unsustainability. Accounting Forum, 30(2), 121-137. https://doi.org/10.1016/j.accfor.2006.02.001

Ng, E. S., & Sears, G. J. (2012). CEO Leadership Styles and the Implementation of Organizational Diversity Practices: Moderating Effects of Social Values and Age. Journal of Business Ethics, 105, 41–52. http://dx.doi.org/10.1007/s10551-011-0933-7

OECD. (2019). OECD Skills Outlook 2019 Thriving in a Digital World. OECD Skills Outlook 2019, 10–12. https://www.oecd-ilibrary.org/education/oecd-skills-outlook-2019/summary/english_e98f82d2-en

Parker, C. M., Bellucci, E., Torlina, L., Zutshi, A., & Fraunholz, B. (2014). Towards a Method for Measuring the Quality of Environmental Improvement Communications on SME Websites. Knowledge and Process Management, 21, 187–197, https://doi.org/10.1002/kpm.1451

Pache-Durán, M., & Nevado-Gil. M. T. (2020). Responsabilidad social empresarial: información divulgada por las empresas del IBEX35. Investigación Bibliotecológica: archivonomía, bibliotecología e información 34(85), 81-97. http://dx.doi.org/10.22201/iibi. 24488321xe.2020.85.58225

Pedersen, E. R. (2010). Modelling CSR: How Managers Understand the Responsibilities of Business Towards Society. Journal of Business Ethics, 91, 155. https://doi.org/10.1007/s10551-009-0078-0

Perez, A. & Lopez-Gutierrez, C. (2017). An empirical analysis of the relationship between the information quality of CSR reporting and reputation among publicly traded companies in Spain. Academia Revista Latinoamericana de Administración, 30(1), 87-107. https://doi.org/10.1108/ARLA-02-2016-0036

Petty, R., & Guthrie, J. (2000). Intellectual capital literature review. Measurement, reporting and management. Journal of Intellectual Capital, 1(2), 155-176. https://doi.org/10.1108/14691930010348731

Perrini, F. (2006). SMEs and CSR Theory: Evidence and Implications from an Italian Perspective. Journal of Business Ethics, 67(3), 305-316. https://doi.org/10.1007/s10551-006-9186-2

Pfeffer, J., & Salancik, G. R. (1978). The External Control of Organizations: A Resource Dependence Perspective. Harper & Row.

Popescu, R. C., & Banta, V. C. (2019). Performance Evaluation of the Implementation of the 2013/34/EU Directive in Romania on the Basis of Corporate Social Responsibility Reports. Sustainability, 11(9), 2531. https://doi.org/10.3390/su11092531

Porter, M. E., & Kramer, M. R. (2002). The Competitive Advantage of Corporate Philanthropy. Harvard Business Review, 80(12), 56-68

Saunders, M., & Lewis, P., & Thornhill, A. (2016). Research methods for Business students, 5th edition. Pearson Education Limited.

Saveanu, T. G., & Abrudan, M. M. (2015). The profile of CSR disclosure as presented on Romanian companies’ websites. Annals of the University of Oradea: Economic Science, 25(1), 576-583

Secundo , G., Del Vecchio , P., Dumay , J., & Passiante , G. (2017). Intellectual capital in the age of Big Data: establishing a research agenda. Journal of Intellectual Capital, 18(2), 242-261. https://doi.org/10.1108/JIC-10-2016-0097

Sheehy, B. (2015). Defining CSR: Problems and Solutions. Journal of Business Ethics, 131(3), 625–648. https://doi.org/10.1007/s10551-014-2281-x

Siano, A., Conte, F., Amabile, S., Vollero, A., & Piciocchi, P. (2017). Communicating Sustainability: An Operational Model for Evaluating Corporate Websites. Sustainability, 8(9), 950. https://doi.org/10.3390/su8090950

Spanish Association of Accounting and Business Administration (AECA). (2004). Conceptual Framework of Corporate Social Responsibility. Corporate Social Responsibility Commission. https://aeca.es/publicaciones2/documentos/responsabilidad-social-corporativa/

Suárez-Rico, Y. M., Gómez-Villegas, M., & García-Benau M. A. (2018). Exploring Twitter for CSR Disclosure: Influence of CEO and Firm Characteristics in Latin American Companies. Sustainability, 10(8), 2617. https://doi.org/10.3390/su10082617

Suchman, M. (1995). Managing Legitimacy: Strategic and Institutional Approaches. Academy of Management Review, 20, 571–610. https://doi.org/10.2307/258788

Sundstrom, B., & Levenshus, A. B. (2017). The art of engagement: Dialogic strategies on Twitter. Journal of Communication Management, 21(1), 17–33. https://doi.org/10.1108/JCOM-07-2015-0057

The Financial Minister’s Order no. 1938/2016 on modifying and completing regulations on accountancy. Published in the Official Monitor No. 680 of 2 September 2016

The Financial Minister’s Order no. 3456/2018 on modifying and completing regulations on accountancy. Published in the Official Monitor No. 942 of 7 November 2018

The Government Decision no.313 of 11 May 2017 on the establishment of a Department for Sustainable Development. Published in the Official Monitor No. 356 of 15 May 2017

The Government Decision no. 877/2018 adopting the 2030 National Strategy for Sustainable Development. Published in the Official Monitor No. 985 of 21 November 2018

United Nations Environment Programme (UNEP). (2015). Uncovering Pathways Towards Inclusive Green Economy. A Summary for Leaders. https://wedocs.unep.org/bitstream/handle/20.500.11822/9838/-_Uncovering_Pathways_towards_an_Inclusive_Green_Economy_a_Summary_for_Leaders-2015IGE_NARRATIVE_SUMMARY_Web.pdf.pdf?sequence=3&amp%3BisAllowed=y%2C%20Portuguese%7C%7Chttps%3A//wedocs. unep. org/bitstream/handl

van der Aalst, W. M. P., Becker, J., Bichler, M., Buhl, H. U., Dibbern, J., Frank, U., Hasenkamp, U., Heinzl, A., Hinz, O., Hui, K. L., Jarke, M., Karagiannis, D., Kliewer, N., König, W., Mendling, J., Mertens, P., Rossi, M., Voss, S., Weinhardt, C., Zdravkovic, J. (2018). Views on the Past, Present, and Future of Business and Information Systems Engineering. Business and Information Systems Engineering, 60(6), 443–477. https://doi.org/10.1007/s12599-018-0561-1

Vidal-Salazar, M. D., Cordón-Pozo, E., & Ferrón-Vilchez, V. (2012). Human resource management and developing proactive environmental strategies: the influence of environmental training and organizational learning. Human Resource Management, 51(6), 905–934. https://doi.org/10.1002/hrm.21507

Ziarul Financiar. (2019). Topul celor mai valoroase companii antreprenoriale romanesti. ZF. https://www.zf.ro/banci-si-asigurari/topul-celor-mai-valoroase-companii-antreprenoriale-romanesti-25-de-firme-evaluate-la-12-5-miliarde-de-euro-17800446

Zimmerman, M. A., & Zeitz, G. J. (2002). Beyond Survival: Achieving New Venture Growth by Building Legitimacy. Academy of Management Review, 27(3), 414–431. https://doi.org/10.5465/amr.2002.7389921

Downloads

Published

2022-12-07

Versions

How to Cite

DINU, E., CIUCIUC, V. E., MOLDOVEANU, I., & STOICA, V. . (2022). Pondering Digitalization: An Exploratory Study on Organizational Capitalization of Digital Media for Disclosing . Management Dynamics in the Knowledge Economy, 10(4), 304–329. Retrieved from https://www.managementdynamics.ro/index.php/journal/article/view/504

Issue

Section

Articles