The Impact Of CSR Disclosure In Website On Market Value Of Listed Companies In Sri Lanka

Abstract

The concept of corporate social responsibility (CSR) developed in th6 Western world since the 1950s, is novel to developing countries. Various CSR principles, standards, frameworks and indices have grown significantly. There is an increasing pattern of engage in socially responsible activities by companies. Recent discussions have explored the ways Corporate Social Responsibility (CSR) website disclosure might work in the interest of business. In the Sri Lankan Context have modern contexts of CSR website disclosure. The objective of the study was to empirical examine the impact on CSR website disclosure on Market Value in listed companies in Sri Lanka. For the study purpose secondary data were collected one hundred and twenty two listed companies in Sri Lanka. Data were collected from company website and annual report of the companies. GRI standard disclosure social category indicators in Labour practices and decent work, Human Rights, Environmental, Society and Product Responsibility were used as the independent variable. Researcher as run the Level of Corporate Social Responsibility website disclosure, Correlation analysis and Regression analysis of CSR website disclosure and Market Value to test the impact of CSR website disclosure on Market Value. According to the result were moderate level between CSR website disclosure and Market Value and strong positive relationship and positive impact between CSR website disclosure and Market Value. Based on that conclude, there is a significantly positive relationship and strong positive relationship between CSR website disclosure and Market Value