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AbstractThis article delves into the intricate dynamics between luxury businesses' environmental responsibility initiatives and consumer perceptions, grounded in the theory of reasoned action. Utilizing three experimental studies, this article explores the interplay of corporate social responsibility (CSR) message framing (responsibility‐focused vs. dignity‐focused) and the nature of the luxury business (established vs. entrepreneurial). Study 1 examines the interaction between luxury brand type and CSR message framing, revealing that responsibility‐focused narratives enhance consumer interest in entrepreneurial brands but not in established ones. Study 2 investigates the psychological mechanisms underlying these effects, finding that dignity‐focused narratives increase consumer engagement through perceived authenticity and alignment with self‐image. Study 3 employs longitudinal field research to track actual buying behaviors, showing that dignity‐focused messages significantly boost spending, brand loyalty, and satisfaction, particularly for entrepreneurial brands. The findings illuminate the nuanced consumer reactions to CSR initiatives, underscoring the importance of message framing and brand nature in shaping luxury consumption attitudes.

The implementation of China's mandatory corporate social responsibility (CSR) disclosure in 2008 provides us with a natural experiment setting. In this paper, we examine the effects of mandatory CSR disclosure on the levels of firms' tax avoidance and tax incidence. By using a difference-in-differences model, we predict and find that mandatory CSR reporting firms tend to be less tax aggressive. Then we test who bears the burden of the effective tax rate increase. It shows that the increase of effective tax rate causes a drop in firm output and imposes a tax burden on the firms' consumers. The reduction in output also reduces demand for the firms' inputs and after-tax returns, passing tax burden to suppliers, other stakeholders, employees, and shareholders. In contrast, there is no evidence that the decrease of firms' tax avoidance activities influences the tax incidence of governments, banks, and other creditors. These findings provide evidence that mandatory CSR disclosure changes firm tax planning activities and indeed influences the costs of various stakeholders.

PurposeThe paper examines integrated reporting (IR) practices of two Japanese universities and three South African universities by evaluating and comparing their 2019 integrated reports.Design/methodology/approachA multiple case study research method is used in this study.FindingsThe paper reveals that IR is in its infancy at the sample universities. Some universities have initiated disclosing information to their stakeholders on how they create value. However, the universities lack a comprehensive approach to integrating financial and non-financial information, thereby affecting the IR disclosure quality. The findings indicate that informal coercive pressure of South African universities is a primary driving factor that enables the universities to achieve a higher IR disclosure quality than their Japanese counterparts.Research limitations/implicationsThis paper argues that institutional theory is relevant for explaining the differences in IR practices of the universities in the two different jurisdictional settings.Practical implicationsThe research will be of interest to university administrators, policymakers, regulators and other stakeholder groups of universities. The assessment of integrated reports serves as a first step to help the universities improve IR practices as well as to facilitate the diffusion of IR in higher education institutions (HEIs) globally. There is also a need for universities to pay more attention to the storytelling of their value creation in future IR disclosures.Originality/valueIt is the first to assess the IR quality of the Japanese sample universities as well as the first to conduct a comparative analysis for IR practices of universities in two different jurisdictional settings that have adopted IR. The findings of this study add to the current scholarly debate on universities' ability to tell their stories on their value creation to stakeholders via integrated reports.

Integrated reporting (IR), as a novel corporate reporting approach, focuses on how six forms of capital promote corporate value. This paper explores whether this kind of multiple capitals disclosure (MCD) framework has an impact on the capital market. Using a sample of Chinese A-share firms from 2012 to 2016, we examine the relationship between MCD quality and firm value. The results indicate that a higher MCD quality leads to a greater firm value. Our results are robust to a variety of sensitivity tests. Further evidence suggests that MCD quality could increase profitability by affecting the decision-making of non-financial stakeholders and enhance the value relevance of financial information by affecting the decision-making of investors. The paper helps understand how the IR approach affects the perception of investors on the value of a firm. The findings of the paper are of interest to academics, corporate management, investors, and governmental officials.

AbstractThe causal link between customer privacy concerns and organizational nature—specifically, entrepreneurial startups versus mature enterprises—remains unexplored. Using an online experiment, this study examines whether consumers' privacy concerns differ between these two types of organizations. Drawing on protection motivation theory, the study investigates whether customers' privacy concerns are stronger toward entrepreneurial startups than toward mature firms when both declare privacy protection. It further explores whether consumer participation in designing privacy protection mechanisms differently affects consumers' privacy concerns toward start‐ups versus mature firms. The empirical results of an online experiment using a sample of 373 college students support the study hypotheses that (i) for unilateral privacy protection declarations, consumers' privacy concerns are higher toward entrepreneurial startups, and (ii) when consumers are invited to participate in designing privacy protection mechanisms, consumers' privacy concerns toward entrepreneurial startups significantly decrease. Our findings complement the literature on consumer privacy defensive behaviors by highlighting that consumer privacy concerns are associated with the organizational nature and privacy protection initiatives.