Analysis of corporate social responsibility disclosure – the case of Syria

: benefits, motivations, and challenges

Abstract

This PhD thesis is an exploratory study which investigates Corporate Social Responsibility Disclosure (CSRD) in the Syrian context over the period 2008 – 2020. It does this in three ways. The study first aims to examine the impact of the Syrian crisis on CSRD. It also investigates the CSRD determinants and what benefits they hope to achieve from it. Finally, the study seeks to understand the motivations that drive banks listed in the Damascus Stock Exchange (DSE) to carry out CSRD in time of crisis and to identify challenges banks face.

This study is concerned with the common ground shared between positivist and interpretivist research paradigms. Given this, a mixed approach of both qualitative and quantitative methods was employed to collect, analyse, and interpret the data acquired. Specifically, a self-disclosure index and content analysis were used to explore the extent to which CSRD has changed before and since the Syrian conflict crisis. Two econometric models were formulated in order to explore the potential relationship between CSRD, and Market Value (MV) in companies listed in the DSE in a time of crisis. Finally, Semi-structured interviews with staff who are aware of CSRD strategies of banks listed in DSE were used in order to investigate the motivations that drive banks listed in Syria to adopt CSRD in Syria and what challenges prevented them from carry out more CSRD.

The findings revealed that the conflict crisis that started in 2010 has had a significant negative impact on the level of CSR disclosure with the level of CSRD dropping from above 16% before 2010 (the start of the crisis) to below 10% of the overall annual reports after 2010. One interesting finding is that to mitigate the negative impact of the crisis on the local community, certain banks were able to retain same levels of CSR programme throughout the crisis. The study found evidence that these banks were “doing well by doing good” before, and since the conflict crisis. These findings were explained by stakeholder theory, which suggest that banks listed on the DSE engaged with CSRD practices in order to strengthen the relationship with their stakeholders by fulfil their need and maximize their benefits.

A particularly interesting finding is that the banks with an Islamic identity, and which have solid partners and donations from local and national philanthropists, actually enhanced their charitable programme in order to assist the struggling people in Syria during the conflict. What is important to note is that these banks published only very little information (general information) about their CSR programmes in their annual reports because they intended to maximize their religious reward and reputation, and to take into account the feelings of people they help.

Date of Award	27 Oct 2023
Original language	English
Sponsors	Council for At-Risk Academics (Cara)
Supervisor	Reza Kouhy (Supervisor) & Gayathri Gunatilake (Supervisor)