Determinants of corporate social responsibility disclosure in emerging markets: a meta-analytic perspective

Abstract

This study performs a meta-analysis of 22 studies across emerging economies to identify key drivers of CSR disclosure. The analysis reveals that disclosure practices are significantly shaped by ownership concentration, state ownership, the board's composition, firm size, financial leverage, growth, environmental exposure, and regulatory pressures. Firms with higher ownership concentration and state ownership tend to disclose more CSR information. Larger board sizes, higher leverage, and more robust growth rates firms tend to report greater CSR disclosure. Additionally, firms in environment-sensitive industries and being affected by new regulations enhance disclosure levels. These findings are supported by the renowned stakeholder, legitimacy, agency, and institutional theories. Finally, the study provides insights for researchers, policymakers, and managers to improve CSR disclosure practices in emerging economies.