What is it about?
Stakeholder engagement is a prerequisite of quality sustainability reporting. Whether stakeholder engagement is genuine or merely symbolic has become a long discussion topic by academics and practitioners. This paper collects empirical evidence if Australian large companies engage with their stakeholders to manage reputational risks, such as to increase market share and pre‐empt social issues.
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Why is it important?
Extant literature in this field assumes that managing reputational risks is undertaken only by companies which are experiencing a reputational crisis. The framework used in this research shows that every company can manage reputational risks proactively to maintain corporate image and reactively to anticipate further harmful impacts on reputation and business continuity. The research reveals that rhetoric statements are deployed by companies to both proactively and reactively manage their reputational risks.
Perspectives
I hope this article contributes to an increase in awareness of stakeholder engagement disclosure in sustainability report. Equally important, the genuine stakeholder engagement practice in promoting corporate sustainability: economically viable, socially acceptable and environmentally responsible.
Putu Agus Ardiana
Durham University
Read the Original
This page is a summary of: Stakeholder Engagement in Sustainability Reporting: Evidence of Reputation Risk Management in Large Australian Companies, Australian Accounting Review, September 2019, Wiley,
DOI: 10.1111/auar.12293.
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