Environmental disclosures in mining companies: Are there any stakeholder demands?

Abstract

This research investigates the influence of stakeholder demands on environmental disclosure in mining companies in ASEAN. The influence of these stakeholders is analyzed using the stakeholder theory framework. The research sample is 100 companies in the mining industry listed in the OSIRIS database in 2017-2019. This research uses seven independent variables that represent the strengths of three stakeholder groups. Environmental disclosure data is obtained using content analysis from annual reports and company sustainability. Shareholders, creditors, and auditors were found to be significant predictors of environmental disclosure in mining companies. On the contrary, creditor's demands are not seen as driving corporate environmental disclosure in most ASEAN countries but have a significant effect in Philippine. In general, this research is in line with stakeholder theory which encourages companies to pay attention to the demands of stakeholders to carry out the best corporate social responsibility, especially on environmental disclosure.