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Determinants of Corporate Sustainability Disclosure Among Large Firms in Kenya

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Determinants of Corporate Sustainability Disclosure Among Large Firms in Kenya Strathmore University SU+ @ Strathmore University Library Electronic Theses and Dissertations 2019 Determinants of corporate sustainability disclosure among large firms in Kenya Brian K. Njoroge Strathmore Business School (SBS) Strathmore University Follow this and additional works at https://su-plus.strathmore.edu/handle/11071/6574 Recommended Citation Njoroge, B. K. (2019). Determinants of corporate sustainability disclosure among large firms in Kenya (Thesis, Strathmore University). Retrieved from http://su- plus.strathmore.edu/handle/11071/6574 This Thesis - Open Access is brought to you for free and open access by DSpace @Strathmore University. It has been accepted for inclusion in Electronic Theses and Dissertations by an authorized administrator of DSpace @Strathmore University. For more information, please contact [email protected] DETERMINANTS OF CORPORATE SUSTAINABILITY DISCLOSURE AMONG LARGE FIRMS IN KENYA NJOROGE, BRIAN KAMAU SUBMITTED IN PARTIAL FULFILLMENT FOR THE REQUIREMENTS FOR THE DEGREE OF MASTER OF COMMERCE AT STRATHMORE UNIVERSITY STRATHMORE UNIVERSITY BUSINESS SCHOOL STRATHMORE UNIVERSITY NAIROBI, KENYA JUNE 2019 This thesis is available for library use on the understanding that it is copyright material and that no quotation from the thesis may be published without prior acknowledgement. DECLARATION I declare that this work has not been previously submitted and approved for the award of a degree by this or any other University. To the best of my knowledge and belief, the thesis contains no material previously published or written by another person except where due reference is made in the thesis itself. © No part of this thesis may be reproduced without the permission of the author and Strathmore University Njoroge, Brian Kamau _________________________ [Signature] ___________________ [Date] Approval The thesis of Njoroge, Brian Kamau was reviewed and approved by the following: Professor David Wang’ombe Senior Lecturer, Strathmore University Business School, Strathmore University Dr. George Njenga, Dean, Strathmore University Business School, Strathmore University Professor Ruth Kiraka, Dean, School of Graduate Studies, Strathmore University ii ACKNOWLEDGEMENT The author will be forever grateful to: Carol Ger, Christine Gatakaa, Cynthia Kimilu, Joseph Mwakio and Phyllis Mucheru, my likeminded peers. The original research idea was as a result of our many intense study sessions. We debated on ways to encourage firms to engage in the practice of corporate sustainability. These debates formed a pivotal role in actualization of the idea which resulted in this study. Let’s go forth and change the world. Special gratitude to: Professor David Wang’ombe, for being a great steward and mentor in the field of sustainability accounting specialization. Your supervision of this study was invaluable. The author would also like to thank: Dr. Bernard Baimwera, Dr. David Mathuva and Dr. Mumbi Maria Wachira, your moderation and insights proved instrumental in shaping this study. The author is additionally grateful to Mr. Quindos Karanja; our course coordinator for your efforts in keeping the researcher in line with the strict time lines. Finally, the author appreciations the information received from the various senior management officers in all the large firms assessed. It would not have been possible without you. iii ABSTRACT The objective of the study is to assess the determinants of corporate sustainability disclosure among large firms in Kenya. Specific objectives are; to determine the level of corporate sustainability disclosure among large firms in Kenya, to determine the effect of strategic posture on corporate sustainability disclosure among large firms in Kenya, to determine the effect of firm attributes on corporate sustainability disclosure among large firms in Kenya, and to determine the effect of stakeholder attributes on corporate sustainability disclosure among large firms in Kenya. A descriptive research design was employed so as to accomplish the study objectives by finding out if the independent variables determine the level of corporate sustainability disclosure among large Kenyan firms. The study’s target population comprised Kenyan firms listed by the Kenya Revenue Authority (KRA) in its large tax payers category. The KRA large taxpayers list is used as a basis for definition of large firms in Kenya. The study collected primary data to meet the research objectives. Primary data was collected using a questionnaire. Data analysis was carried out on the collected quantitative data using descriptive and inferential statistics. Pearson R correlation was used to measure strength and the direction of linear relationship between variables. Multiple regression model was fitted to the data in order to test the effect of the independent variables on the dependent variable. Diagnostic tests were also considered to test the model for linearity, heteroscedasticity, multicollinearity, and normality. Strategic posture, firm attributes, and stakeholder attributes determine corporate sustainability disclosure among large firms in Kenyan. Results of the study revealed positive and significant effect of strategic posture, firm attributes, stakeholder attributes on corporate sustainability disclosure. This implies that there is need for large firms to improve on their levels of governance disclosure in comparison with environmental disclosure. Large firms ought to strategize measures geared towards strategic position, internal and organization culture should be geared on disclosing information which would aid minimizing cost of accessing required information. Thirdly, there is need for coherent communication amongst stakeholders to eliminate pressures which may jeopardize quality of information shared publicly. Key words: Sustainability disclosures, Firm Attributes, Stakeholders attributes, Strategic Posture iv TABLE OF CONTENTS DECLARATION.................................................................. Error! Bookmark not defined. ACKNOWLEDGEMENT ............................................................................................... iii ABSTRACT ...................................................................................................................... iv TABLE OF CONTENTS ................................................................................................. v LIST OF TABLES ........................................................................................................... ix LIST OF FIGURES .......................................................................................................... x LIST OF ABBREVIATIONS ......................................................................................... xi DEFINITION OF TERMS ............................................................................................. xii CHAPTER ONE ............................................................................................................... 1 INTRODUCTION............................................................................................................. 1 1.1 Background of the Study .............................................................................................. 1 1.1.1 Corporate Sustainability Reporting ............................................................... 2 1.1.2 Corporate Sustainability Reporting in Kenya ................................................ 3 1.2 Problem Statement ........................................................................................................ 4 1.3 Research Objectives ...................................................................................................... 5 1.3.1 Main Objective ............................................................................................... 5 1.3.2 Specific Objectives ........................................................................................ 5 1.4 Research Questions ....................................................................................................... 5 1.5 Significance of the study ............................................................................................... 6 1.6 Scope of the Study ........................................................................................................ 7 CHAPTER TWO .............................................................................................................. 8 LITERATURE REVIEW ................................................................................................ 8 2.1 Introduction ................................................................................................................... 8 2.2 Concept of Corporate Sustainability Reporting ............................................................ 8 2.2.1 The Evolution of the Meaning and Measurement of Corporate Sustainability Reporting................................................................................................................. 9 2.2.2 Sustainability Disclosure Initiatives ............................................................ 11 2.2.3 Corporate Sustainability Reporting in Kenya .............................................. 13 2.3 Theoretical Framework ............................................................................................... 15 2.3.1 Resources Based Theory .............................................................................. 15 v 2.3.2 Signaling Theory .........................................................................................
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