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opt CSR may arise from a combination of those drivers (Brine, Brown and Hackett, 2007)

Companies see CSR as an important factor in attracting and retaining talented and diverse employees. Good working conditions for employees could lead to better performance in terms of quality and delivery. The company can directly benefit from this higher level of productivity.

Learning and innovation are important to the long-term existence of any business. CSR can be a medium for business to respond to environmental and societal risks and turn these into business opportunities.

Companies see CSR as an effective tool for improving its reputation. How companies are judged by customers, suppliers and the broader community will have an impact on their profitability and success. CSR offers a way by which companies can manage and influence the attitudes and perceptions of their stakeholders, building their trust and enabling the benefits of positive relationships to deliver business advantages.

CSR offers more effective risk management, helping companies to reduce avoidable losses, identify new emerging issues and use positions of leadership as a means to gain competitive advantage.

Companies could use CSR branding as a way to differentiate its products in its product market en draw consumers away from competitors and thereby improve profitability.

CSR can offer opportunities to reduce present and future costs to the business which leads to increasing operational efficiency. Adopting CSR and good corporate governance can reduce litigation risk. A company could avoid costly government imposed fines and in that way be more cost efficient. Certain types of CSR activities translate into an increased value for a company, hence increasing the value for its shareholders. For example, the decision to become more energy efficient has a cost-saving effect.

The investment community is increasingly viewing CSR as an assurance of long-term risk management and good governance practices. Investors therefore place rising importance on corporate reputation as they do on financial performance.

Companies that fail to manage their responsibilities to society as a whole risk losing their license to operate.

3.0企业社会责任报告Corporate Social Responsibility reporting
The number of companies that disclose information on their environmental, social and governance performance has significantly increased in the recent years. The current financial crisis draws even more attention to the disclosure and transparency of CSR performance.

The rise of reporting related to social and environmental aspects of a corporation goes back to the 1970s. During this period social reporting and accounting was adopted by several US and West European corporations. Epstein defined social reporting and accounting as: 'the identification, measurement, monitoring and reporting of the social and economic effects of an institution on society, intended for both internal managerial and external accountability purposes' (Epstein et al., 1976, p. 24). The number of companies involved in social reporting grew rapidly during the 1970s, resulting in 90% of the Fortune 500 companies reporting on social performance in their annual reports by 1978 (Kolk, 2005, p.35). However, as a result of recession and unemployment during the 1980s, social reporting