Global Reporting Initiatives and Firm Performance: A Stakeholder’s Perspective in Indian Companies

Abstract With the growth of the corporate sector, there is a simultaneous increase in the external forces that pressurize the corporate sector to practice socially responsible behavior. Based on this, the practice of reporting sustainable activities is being used by companies in different manners by different countries. In view of this, the purpose of the study is to empirically analyze the financial performance of sustainability reporting and non-reporting companies from the stakeholder’s perspective.The study is longitudinal, covering a time span of 22 years. The parameters of the financial performance are categorized and statistically analyzed based on the stakeholders considered under the study. Based on the analysis, the study has found no evidence of difference in the financial performance between sustainability reporting and non-reporting companies from the stakeholder’s perspective.The paper has contributed to the literature by analyzing the financial performance of companies from the stakeholder’s perspective through the longitudinal study.