Determinants of Corporate Social Responsibility: Evidence from the Zimbabwe Stock Exchange Listed Firms

Abstract

The study's aim was to examine the level of corporate social responsibility disclosure and the determinants of corporate social responsibility disclosure by Zimbabwe Stock Exchange listed firms for the fiscal year ending December 31, 2020. The level of corporate social responsibility disclosure for all active firms listed on the Zimbabwe Stock Exchange was reviewed using content analysis. The findings show that corporate social responsibility disclosure is still very low, with community involvement disclosure accounting for 40% of all corporate social responsibility information disclosed, followed by environmental disclosure (30%), products and consumer information disclosure (29%), and human resources disclosure (28% ). A positive relationship between corporate social responsibility disclosure and board independence, leverage, industry affiliation, and firm size was discovered using a multivariate regression analysis, as well as a negative relationship with profitability and ownership structure. However, no statistically significant relationship was discovered between corporate social responsibility disclosure and the presence of an audit committee.