Stakeholders' perceptions of Corporate Social Reporting (CSR) in Bangladesh

The paper addresses a significant gap in the CSR literature indicated by the lack of studies that examine non-managerial stakeholders’ perceptions of the practice. Recent calls in the CSR literature have emphasised the importance of giving voice to non-managerial stakeholders groups. The research examines the perceptions of a wide group of stakeholders in the context of a developing country, Bangladesh. A series of semi-structured interviews were conducted with various stakeholder groups including employees, consumers, pressure groups, regulatory body and accounting professionals. The current practice of CSR in Bangladesh is interpreted in terms of ‘largely cosmetic responses’, ‘marketing strategy’ and ‘response to pressures from international markets’. Additionally, while some of the interviewees sharply criticised the current process of imposing social accounting codes/standards on developing countries which fail to consider the important local socio-economic context, the findings suggest that there is overwhelming support for mandatory externally verified CSR reporting based on the principles of peoples’ right to know, full disclosure/completeness, and relevance, which are anchored in the broader principles of transparency and accountability.