Determinants of Sustainability Reporting Among the Filipino Firms

Abstract

This study examines sustainability reporting practices among Philippine firms from 2016 to 2019, focusing on determinants such as company size, market exposure, and industry risk. Analysis of sustainability reports reveals that larger firms, those with international market exposure, and companies in high-risk industries are more likely to publish comprehensive reports. The data indicates that listed firms, both locally and internationally, exhibit a higher propensity for sustainability reporting compared to non-listed firms, who have shown inconsistent reporting practices. This study underscores the importance of market exposure and industry risk in driving transparency and adherence to global sustainability standards. Recommendations for future research include exploring the impact of regulatory frameworks on reporting practices and expanding qualitative studies to understand the motivations and challenges behind sustainability reporting. These insights contribute to a deeper understanding of corporate transparency and offer actionable strategies for enhancing sustainability practices in the Philippine context.