Determinants of corporate social responsibility disclosures: the case of the US companies

The aim of this study is to increase understanding of the potential effects of corporate characteristics on the extent of corporate social responsibility (CSR) disclosure. The sample consists of companies from the Fortune list for the year 2011 as they are more likely to disclose CSR information. The environmental, social, and governance disclosure scores are introduced in order to determine the extent of CSR disclosure. Results based on the multiple regression models indicate a positive relationship of CSR disclosure to the return on sales, the return on equity and assets while the financial leverage is negatively related with CSR disclosure.