Advertising and Social Responsibility in the Lebanese Market
CORPORATE SOCIAL RESPONSIBILITY (CSR) DISCLOSURE OF ADVERTISING AGENCIES
An Exploratory Analysis of Six Holding Companies’ Annual Reports
David S. Waller and Roman Lanis ABSTRACT: The corporate annual report has become more than a mandatory financial report for public companies, with many companies also using it as an important marketing tool. As corporate social responsibility (CSR) is an issue of growing interest in the business world, many publicly listed companies, including advertising agencies, are voluntarily disclosing information regarding their CSR activities in their annual reports. While there is criticism of the ethical values of advertising, some advertising agencies can use CSR to promote a positive side of the agency’s business. This descriptive study analyzes the annual reports of the top six holding companies in the global advertising industry to promote discourse and theory development in the area. This will be done by observing which advertising companies disclose their CSR activities and what activities they undertake, as well as the development of a CSR disclosure index for advertising agencies. The results indicate that some advertising companies do engage in CSR activities and disclose them in their annual reports, but the level of these CSR disclosures is different between the organizations.
It is a mandatory requirement for public companies in most countries to produce a financial report on a periodic basis for relevant regulatory bodies and shareholders. The financial report usually includes a director’s report, three financial statements (financial position, performance, and cash flows) and an audit report, as well as relevant notes to the accounts. With regard to the shareholders and other third parties, the mandatory reports are usually disseminated within the annual report, which may also contain nonmandatory information. Companies may also use the annual report as a marketing or communication tool for voluntary disclosure of
An Exploratory Analysis of Six Holding Companies’ Annual Reports
David S. Waller and Roman Lanis ABSTRACT: The corporate annual report has become more than a mandatory financial report for public companies, with many companies also using it as an important marketing tool. As corporate social responsibility (CSR) is an issue of growing interest in the business world, many publicly listed companies, including advertising agencies, are voluntarily disclosing information regarding their CSR activities in their annual reports. While there is criticism of the ethical values of advertising, some advertising agencies can use CSR to promote a positive side of the agency’s business. This descriptive study analyzes the annual reports of the top six holding companies in the global advertising industry to promote discourse and theory development in the area. This will be done by observing which advertising companies disclose their CSR activities and what activities they undertake, as well as the development of a CSR disclosure index for advertising agencies. The results indicate that some advertising companies do engage in CSR activities and disclose them in their annual reports, but the level of these CSR disclosures is different between the organizations.
It is a mandatory requirement for public companies in most countries to produce a financial report on a periodic basis for relevant regulatory bodies and shareholders. The financial report usually includes a director’s report, three financial statements (financial position, performance, and cash flows) and an audit report, as well as relevant notes to the accounts. With regard to the shareholders and other third parties, the mandatory reports are usually disseminated within the annual report, which may also contain nonmandatory information. Companies may also use the annual report as a marketing or communication tool for voluntary disclosure of
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