Despite being a fairly new concept, sustainable development is gaining more attention from social actors. The demand on companies to incorporate sustainable development practices is therefore increasing. Previous research has emphasized that companies are influential drivers of sustainable development practices and many claim to work actively with the issue, yet few have implemented such practices to a sufficient extent. Many companies who claim to be working actively with sustainable development were found to be uncertain of what it implies. Moreover, manufacturing companies tend to be greatly dependent on the consumption of raw material, energy and waste disposals and are therefore often affected by changes associated with sustainable development. Thus, the purpose of this study is to identify what drives manufacturing companies to commit to sustainable development practices.   In the field Management of Sustainable Development, previous research has neglected drivers of sustainable development in relation to managers’ differing interpretations of the concept, constituting a research gap. It has also been suggested by previous research to investigate sustainable development from an organizational perspective, thus this study investigates individual managers’ interpretations and what drives companies to adopt sustainable development practices. The following research question has therefore guided this study:   What drives manufacturing companies to adopt sustainable development practices and how do these drivers vary depending on managers’ interpretations of the term?   In order to investigate this phenomenon and fulfill the purpose of our study, a qualitative approach was deemed most suitable. Six manufacturing companies in Västerbotten County were interviewed using a semi-structured approach. In addition, a triangulation method was used, where official and organizational documents were collected from each participating company to complement the interview data and decrease subjectivity. The analysis of our empirical data resulted in a compiled analysis of the key findings, where we found that manufacturing companies in Västerbotten perceive sustainable development as an ambiguous term and interpret it differently but consider environmental factors as a central feature of the term. Furthermore, we can conclude that the adoption of sustainable development practices is facilitated by establishing a separate sustainable development strategy or incorporating sustainable development into the company’s general business strategy.

Syfte: Under de senaste åren har det skett ett fokusskifte i redovisningslitteraturen, från utgångspunkten att CSR-rapportering bedrivs för att vinna legitimitet och anseende, till att rapporteringen i huvudsak sker för att informera investerarna. Studiens syfte är att undersöka om motivet till CSR-rapportering på samma sätt som för litteraturen har förändrats i praktiken för företag mellan årtalen 2004-2014. Metod: Med grund i den positivistiska forskningsfilosofin har vår studie en hypotetiskt-deduktiv ansats med en deskriptiv-förklarande forskningsdesign och en longitudinell tidshorisont. I studien har vi använt oss av kvantitativ sekundärdata, insamlad från databasen Datastream. Studiens två urval har varit stora företag från å ena sidan USA och Kanada, å andra sidan 17 europeiska länder. Alla statistiska analyser - parade t-test och multipla regressioner - har utförts i statistikprogrammet SPSS. Resultat och slutsats: I vår första analys fann vi att det skett en signifikant ökning av CSR-rapporteringen mellan 2004 och 2014 för båda urvalsgrupperna. Våra två andra analyser visade på att legitimitetsmotivet hos företagen är oförändrat, medan styrkan på sambandet mellan CSR-rapportering och marknadsvärde är oförändrat eller har minskat i styrka, beroende på urvalskategori. Att en ökad rapportering inte nödvändigtvis leder till en ökad finansiell nytta, visar även det på att företag i praktiken inte följt samma motivskifte som litteraturen. Förslag till fortsatt forskning: Det område som tidigare studiers resultat skiljer sig mest kring är huruvida CSR-rapportering lönar sig ekonomiskt för företagen. Vår studie lämnar bidrag gällande detta, men mer studier behövs göras på området. Uppsatsens bidrag: Våra resultat visade att det fokusskifte som litteraturen genomgått inte motsvaras av ett skifte även i praktiken. Det är därmed lika viktigt för företagen med legitimitet 2014 som 2004. Vår första analys bidrar även med en kartläggning av rapporteringsomfattningen med över 630 observationer för två kontinenter. Slutligen bidrar vi med empiriska resultat som visar att CSR-rapportering korrelerar positivt med företagens marknadsvärde. / Title: CSR-reporting - from legitimacy towards market information? A comparison of the motives for sustainable reporting between accounting research and large corporations Aim: During recent years, there has been a shift in focus among accounting researchers, from the premise that CSR-reporting is primarily used for gaining legitimacy and a better reputation, towards the view that reporting is mainly used to inform investors. The aim of this study was to examine whether the motives for CSR-reporting for large corporations between the years 2004-2014, has shifted in the same way. Method: Our study has its basis in the philosophy of positivism, with a hypothetical-deductive approach and a descripto-explanatory purpose and a longitudinal time horizon. We have used quantitative secondary data from the database Datastream, from large companies in the US and Canada in one sample, and 17 European countries in the other sample. All our analyses - paired t-tests and multiple regressions - have been made using the statistical program SPSS. Result and conclusions: In our first analysis, we found that the CSR-reporting of the companies had increased significantly between the years 2004 and 2014. Our other two analyses showed that the companies’ motive for legitimacy was unchanged, while the strength of the correlation of the CSR-reporting and market value was unchanged or weakened, depending on the sample. Since an increase in reporting did not necessarily equal financial gain, these results also supported that the companies’ motive for reporting was not primarily about informing the market. Suggestions for future research: The area where the results of most previous studies differ most is whether CSR-reporting has any financial benefit for the company. Therefore, that area is still the one most in need of further studies. Contribution of the thesis: Our results showed that the accounting researcher’s shift in focus concerning the motives for CSR-reporting, did not correspond with a similar shift in the companies’ motives for reporting. Our first analysis also contributes with over 630 observations showing the extent of CSR-reporting in North America and Europe. Lastly, our study contributes with empirical data showing a positive correlation between CSR-reporting and market value.

Bakgrund Inför företagens bokslut år 2017 ska större företag även uppföra och presentera en hållbarhetsredovisning som komplement för de finansiella måtten. Företagen behöver dock inte följa regleringen om de förklarar varför. Undersökningar tyder ändå på brister i hållbarhetsredovisningen där informationen inte är komplett trots den nya regleringen. Genom systemorienterade teorier samt positiv redovisningsteori finns det förväntningar om hur företagens bolagsstyrningsmekanismer ska påverka hållbarhetsredovisningen. Syfte Syftet med studien är att förklara huruvida bolagsstyrningsmekanismer påverkar omfattningen av företags hållbarhetsredovisning. Metod Denna studie utgår från en deduktiv ansats med en kvantitativ metod. Hypoteser har formulerats utifrån systemorienterade teorier och positiv redovisningsteori kopplat till tidigare forskning om bolagsstyrning. Studien utgår från en tvärsnittsdesign där det empiriska materialet utgörs av sekundärdata och undersökts genom regressionsanalyser. Slutsats Studiens resultat visar att det finns ett signifikant samband mellan utländskt ägande och hållbarhetsredovisningens omfattning. Till skillnad från tidigare studier finns det även ett svagt negativt samband mellan en kvinnlig VD och omfattningen. Till sist visar studiens resultat att det finns positiva samband mellan kontrollvariablerna revisorns uttalande samt applicering av GRI och omfattningen, där GRI resulterade i starka samband. / Introduction Ahead of company´s annual account for year 2017, larger companies will also construct and present a sustainability report as a complement to the financial measures. However, the companies do not have to follow the regulations if they explain why. Surveys nevertheless indicate shortcomings in the sustainability report where the information is not complete despite the new regulation. Through system-oriented theories and positive accounting theory, there are expectations as to how companies' corporate governance mechanisms will affect the sustainability report. Purpose The purpose of this study is to explain whether corporate governance mechanisms affect the extent of corporate sustainability report. Method This study has a deductive approach with a quantitative method. Hypothesis has been formulated through system-oriented theories and positive accounting theory connect with earlier research about corporate governance. The study has a cross-sectional design where the empirical data consist of secondary data and then examined in regression analyzes. Conclusion The study's results show that there is a significant correlation between foreign ownership and the extent of the sustainability report. Contrary to previous studies, there is also a slight negative correlation between a female CEO and the extent. Finally, the study's results show that there are positive correlations between the control variables auditor's statement and the application of GRI and the extent, where GRI resulted in strong relationships.

O crescente número de empresas brasileiras que preparam e divulgam voluntariamente relatórios de sustentabilidade, bem como as motivações propostas pela Teoria da Legitimidade para a adoção dessa prática, causam questionamentos a respeito da idoneidade da informação oferecida. Dessa maneira, o presente trabalho investigou se os gráficos apresentados nos relatórios de sustentabilidade publicados por cinquenta empresas brasileiras de capital aberto foram utilizados como ferramentas para o gerenciamento de impressões, sendo manipulados de forma a melhorar a apresentação do desempenho obtido por essas organizações e auxiliar em seus processos de legitimação. A amostra final compreendeu 3.422 informações gráficas e as análises realizadas abrangeram duas formas de gerenciamento de impressões por meio do uso de gráficos abordadas na literatura: a seletividade e a distorção de medidas. Os resultados encontrados, embora explicativos, não forneceram evidências seguras de que os gráficos identificados foram empregados como ferramentas para o gerenciamento de impressão. Apesar da predominância da utilização de gráficos para a representação de notícias positivas e das distorções de medidas físicas identificadas, as evidências conduzem com maior segurança para a interpretação de que tais resultados decorrem de um despreparo e/ou desatenção dos responsáveis pela elaboração dos relatórios de sustentabilidade. / The growing number of Brazilian companies that voluntarily prepare and disclose sustainability reports, and the reasons proposed by the Legitimacy Theory for the adoption of this practice, lead to questions about the trustworthiness of the information offered. Thus, the present study investigated whether the graphs in sustainability reports published by fifty publicly traded Brazilian companies were used as tools for managing impressions, being manipulated in order to improve the presentation of the performance achieved by these organizations and assist in process of legitimation. The final sample consisted of 3,422 raphical information and the analyzes encompassed two forms of impression management through the use of graphs addressed in the literature: selectivity and measures distortion. The results, although explanatory, did not provide good evidence that the identified graphs were used as tools for managing print. Despite the prevalence of the use of graphs to represent positive news and distortions of physical measurement distortions identified, the evidence leads to more safely to the interpretation that such results derive from of a lack of both preparation and/or attention of those responsible for the preparation of sustainability reports.

Bakgrund och Problem: Hållbarhetsarbete blir allt viktigare för organisationer att ta hänsyn till för att möta intressenters krav och för att få legitimitet i samhället. Då hållbarhetsarbetet påverkar många delar av organisationen är det viktigt att arbetet integrerar alla dess delar. Idag är många organisationer aktiva med att implementera hållbarhetsarbete i verksamheten vilket ofta leder till att arbetssätten i organisationens olika enheter förändras. Syfte: Denna studie syftar till att få en djupare förståelse för hur hållbarhetsarbetet i butikerna förhåller sig till den koncerngemensamma hållbarhetsstrategin. Teoretisk referensram: Studien utgår från intressentteorin, legitimitetsteorin, möjlighet och risker samt informella och formella styrverktyg. Metod: En fallstudie har gjorts på tre dotterbolag tillhörande Axfoodkoncernen. Studien är utformad enligt en kvalitativ undersökningsmetod och har en abduktiv forskningsansats. Det empiriska materialet har samlats in via fem semistrukturerade intervjuer samt Axfoods hållbarhetsstrategi “Mat 2030” som är koncernens vision för de nästkommande åren. Slutsats: På operativ nivå är det dagliga arbetet påverkat av hållbarhetsarbetet. Ute på enheterna arbetar man med att lyfta fram hållbara produkter, källsortera, informerar kunder och minska matsvinn. Arbetet på operativ nivå i de olika butikskedjorna skiljer sig åt på grund av att de riktar sig till olika kundgrupper. Axfood skapar dock genom utbildningar en enighet kring värderingar vad gäller hållbart arbete genom koncernens enheter. Detta bidrar till en företagskultur som lägger stor vikt i hållbarhetsarbete med grund i samhälleligt ansvar och legitimitet snarare än ekonomisk vinning. Nyckelord: Hållbarhetsarbete, Operativ nivå, Styrverktyg, Intressentteorin, Legitimitetsteorin. / Background and Problem: Sustainability work is becoming increasingly important for organizations to consider meeting stakeholder demands and to gain legitimacy in society. As the sustainability work affects many parts of the organization, it is important that the work is integrated in all its parts. Today, many organizations are active in implementing sustainability work in the business, which often lead to changes in the way the organization's various units work. Purpose: This study aims to gain a deeper understanding of how the sustainability work in the stores relates to the Group-wide sustainability strategy. Theoretical reference frame: The study is based on stakeholder theory, legitimacy theory, opportunity and risks and management tools. Method: A case study has been conducted on three subsidiaries belonging to the Axfood Group. The study is designed according to a qualitative research method and have a deductive research approach. The empirical material has been collected via five semi-structured interviews and Axfood's sustainability strategy “Mat 2030” which is the Group's vision for the next few years. Conclusion: At operational level, the daily work is affected by the sustainability work. Out on the units, work is being done to highlight sustainable products, source sort, inform customers and reduce food waste. Work at the operational level in the various retail chains is different because they target different customer groups. Through training, however, Axfood creates an agreement on values regardingsustainable work through the Group's units. This contributes to a corporate culture that places great emphasis on sustainability work against social responsibility and legitimacy rather than financial gain. Key words: Sustainability work, Operational level, Management tools, Stakeholder theory, Legitimacy theory.

Environmental management accounting (EMA) is attracting increased recognition as a management tool that assists in improving financial and environmental performance through enhanced environmental accountability. Various industries have been included in EMA-related research and study, but universities have typically failed to be the focus of the attention. This research studied the experiences of key managers from five universities to explore potential factors influencing the decision to adopt, or not to adopt, EMA within the higher education sector. For the purpose of this study, EMA is defined as the generation, analysis, and use of monetary (or financial) and physical (or non-financial) environment-related information in order to improve organisational financial and environmental performance. The two objectives of this study were to understand current accounting practices for managing major environmental costs, and to identify factors influencing EMA adoption within universities. For the purpose of this study, the major environmental costs referred to are limited to the costs pertaining to the consumption of electricity, water and paper, and the generation of wastes. A case study methodology was followed using semi-structured interviews of key personnel with four different management functions (i.e. environmental management, management accounting, senior management, and heads of academic schools) within each university, and performing content analysis on the transcribed interview data. Specifically for achieving the second research objective, a theoretical framework that considers four theories was embraced to guide the data collection and focus the study. The four theories are contingency theory, institutional theory, legitimacy theory, and stakeholder theory. The findings of the first research objective revealed that there was a general lack of EMA utilisation within the case universities. This was in part due to a perceived lack of appreciation by key personnel of the extent of environmental costs being incurred, but arguably mainly because of the absence of relevant environmental cost information being brought to the attention of senior management. Although environmental sustainability was promoted as important from an environmental management perspective, efforts to improve internal environmental accountability, in particular from an accounting perspective, were still absent. In relation to the second research objective, it was found that five key barriers contributed to this lack of EMA utilisation within the five case universities, and they were attitudinal, financial, informational, institutional, and management barriers. Among the factors that provide further explanations about how each barrier influences EMA adoption, resistance to change, resource constraints, (a lack of) legitimacy considerations, and a lack of environmental responsibility & accountability were found to be strong factors, as they were supported in all of the five cases. Apart from the theoretical extension to this area of research, the results and findings of this study supported the uses and applications of EMA by the higher education sector. Much more can, and should, be done by universities in relation to how they account for the environment. This can provide benefits not only for the sector itself, but also for the environment in which we live.

<p>Sustainability reports have during the last decade had a strong development. Both in terms of establishing a sustainability assurance, in its form, and get it assured together with standards, principles and regulations which organisations and accountants have utilized. The growth of sustainability reports and the choice of getting them assured have in particular favoured the accounting business. Due to this result, some critics have voiced that assuring a sustainability report gain accounting firms more than it gains the actual organisation. Other say that it is necessary in order to increase the credibility and the eligibility of the report, while it also has become a requirement from stakeholders. A clash of opinions within this subject awoke our interest and the results of this study will show the reality of assurance reports in Sweden. The purpose with this paper is to find out how much companies pay to get their sustainability report assured and to identify the factors that might affect the price. In this study, we ask:</p><p>-What is the cost/benefit of assuring a sustainability report?</p><p>The methodology used in this study was web surveys. The target group consisted of 41 organisations based all over Sweden. The web survey was answered by the contact person confirmed as responsible for the organisations sustainability report. Further, to create a foundation for the study we conducted a literature review from books, scientific articles and other scientific papers covering this subject. Data which has gained focus are for example sustainability reports, revisions and assurance of sustainability reports, framework and current theories in the field. Other types of data we have used come from the respondents themselves.</p><p>It is significantly easier for organisations to calculate the cost as it is concrete while the benefit is abstract and more difficult to identify. In general, organisations that took part in the study feel that using assurance reports is beneficial. One of the reasons for this is because the organisations claim they get knowledge, which is shown in that the internal audit is improved and the credibility of the organisations is strengthened. The width was between 0 SEK- and more than 300 000 SEK. We have been able to confirm through this study that large organisations with a high turnover and a well designed sustainability report pay significantly more than what a company with a lower turnover and a less well designed sustainability report does. There was no compulsion to these two factors would occur at the same time. The difference in cost we assumed could be connected to the number of revision points in the assurance report, but this was not confirmed as such events proved to be unrelated.</p> / <p>Hållbarhetsredovisning har under de senaste två decennierna haft en stark utveckling. Såväl när det gäller att upprätta en hållbarhetsredovisning i dess form och att få den bestyrkt. Men även när det gäller standarder, principer och lagförordningar som företag och revisorer använt sig av. Framväxten av hållbarhetsredovisning och valet att få den bestyrkt har framförallt gynnat revisionsbranschen. På grund av detta utfall uttalade sig en del kritiker om att bestyrka en hållbarhetsredovisning gav mer nytta för revisionsbyråerna än för själva företagen. Andra menar på att det var nödvändigt för att öka trovärdighet och legitimitet i rapporten samt att det har blivit ett krav från intressenterna. Motsättningar kring detta ämne väckte vårt intresse. Därför valde vi att genomföra en studie om hur det verkligen ligger till i Sverige gällande bestyrkanderapporter. Syftet med uppsatsen var att ta reda på hur mycket företagen betalade för att få sin hållbarhetsredovisning bestyrkt. Samt identifiera faktorer som eventuellt påverkade priset. Uppsatsens frågeställning var följande; vilken kostnad/nytta kände företagen av att ha låtit bestyrka sin hållbarhetsredovisning? Tillvägagångssätt vid genomförandet av studien var genom webbenkäter. Urvalet var 41 företag som geografiskt sett befann sig över hela Sverige. Webbenkäten besvarades av den kontaktperson som var angiven till företagets hållbarhetsredovisning. För att vidare bygga upp uppsatsen skedde vår litteraturinsamling bland annat från böcker, artiklar och tidigare skrivna uppsatser. Data som fick fokus var exempelvis hållbarhetsredovisning, granskning och bestyrkande av hållbarhetsredovisning, ramverk samt teorier som var aktuella inom området. Annan typ av data som användes var det som studien fick fram från respondenterna. Det är betydligt enklare för företag att beräkna kostnaden då den är konkret medan nyttan är abstrakt och svårare att identifiera. Överlag ansåg dock de företag som ingick i studien att bestyrkanderapport gav nytta. Bland annat genom att företagen tycke att de fick lärdom, vilket visades genom att företagets interna kontroll blev bättre samt att tillförlitligheten stärktes för företaget. Hur mycket företag hade betalat för sin bestyrkanderapport var väldigt olika. Spannet låg mellan 0 - över 300 000 kr. Vi konstaterade från studien att priset hade samband med 2 faktorer, företagets storlek och hur välutformad företagets hållbarhetsredovisning var. Det var dock inget tvång att dessa två faktorer skulle förkomma samtidigt. Att priset skiljde sig åt trodde vi bland annat kunde bero på antalet granskningspunkter i en bestyrkanderapport. Detta kunde vi dock inte konstatera eftersom inga sådana samband urskiljdes.</p>

Sustainability reports have during the last decade had a strong development. Both in terms of establishing a sustainability assurance, in its form, and get it assured together with standards, principles and regulations which organisations and accountants have utilized. The growth of sustainability reports and the choice of getting them assured have in particular favoured the accounting business. Due to this result, some critics have voiced that assuring a sustainability report gain accounting firms more than it gains the actual organisation. Other say that it is necessary in order to increase the credibility and the eligibility of the report, while it also has become a requirement from stakeholders. A clash of opinions within this subject awoke our interest and the results of this study will show the reality of assurance reports in Sweden. The purpose with this paper is to find out how much companies pay to get their sustainability report assured and to identify the factors that might affect the price. In this study, we ask: -What is the cost/benefit of assuring a sustainability report? The methodology used in this study was web surveys. The target group consisted of 41 organisations based all over Sweden. The web survey was answered by the contact person confirmed as responsible for the organisations sustainability report. Further, to create a foundation for the study we conducted a literature review from books, scientific articles and other scientific papers covering this subject. Data which has gained focus are for example sustainability reports, revisions and assurance of sustainability reports, framework and current theories in the field. Other types of data we have used come from the respondents themselves. It is significantly easier for organisations to calculate the cost as it is concrete while the benefit is abstract and more difficult to identify. In general, organisations that took part in the study feel that using assurance reports is beneficial. One of the reasons for this is because the organisations claim they get knowledge, which is shown in that the internal audit is improved and the credibility of the organisations is strengthened. The width was between 0 SEK- and more than 300 000 SEK. We have been able to confirm through this study that large organisations with a high turnover and a well designed sustainability report pay significantly more than what a company with a lower turnover and a less well designed sustainability report does. There was no compulsion to these two factors would occur at the same time. The difference in cost we assumed could be connected to the number of revision points in the assurance report, but this was not confirmed as such events proved to be unrelated. / Hållbarhetsredovisning har under de senaste två decennierna haft en stark utveckling. Såväl när det gäller att upprätta en hållbarhetsredovisning i dess form och att få den bestyrkt. Men även när det gäller standarder, principer och lagförordningar som företag och revisorer använt sig av. Framväxten av hållbarhetsredovisning och valet att få den bestyrkt har framförallt gynnat revisionsbranschen. På grund av detta utfall uttalade sig en del kritiker om att bestyrka en hållbarhetsredovisning gav mer nytta för revisionsbyråerna än för själva företagen. Andra menar på att det var nödvändigt för att öka trovärdighet och legitimitet i rapporten samt att det har blivit ett krav från intressenterna. Motsättningar kring detta ämne väckte vårt intresse. Därför valde vi att genomföra en studie om hur det verkligen ligger till i Sverige gällande bestyrkanderapporter. Syftet med uppsatsen var att ta reda på hur mycket företagen betalade för att få sin hållbarhetsredovisning bestyrkt. Samt identifiera faktorer som eventuellt påverkade priset. Uppsatsens frågeställning var följande; vilken kostnad/nytta kände företagen av att ha låtit bestyrka sin hållbarhetsredovisning? Tillvägagångssätt vid genomförandet av studien var genom webbenkäter. Urvalet var 41 företag som geografiskt sett befann sig över hela Sverige. Webbenkäten besvarades av den kontaktperson som var angiven till företagets hållbarhetsredovisning. För att vidare bygga upp uppsatsen skedde vår litteraturinsamling bland annat från böcker, artiklar och tidigare skrivna uppsatser. Data som fick fokus var exempelvis hållbarhetsredovisning, granskning och bestyrkande av hållbarhetsredovisning, ramverk samt teorier som var aktuella inom området. Annan typ av data som användes var det som studien fick fram från respondenterna. Det är betydligt enklare för företag att beräkna kostnaden då den är konkret medan nyttan är abstrakt och svårare att identifiera. Överlag ansåg dock de företag som ingick i studien att bestyrkanderapport gav nytta. Bland annat genom att företagen tycke att de fick lärdom, vilket visades genom att företagets interna kontroll blev bättre samt att tillförlitligheten stärktes för företaget. Hur mycket företag hade betalat för sin bestyrkanderapport var väldigt olika. Spannet låg mellan 0 - över 300 000 kr. Vi konstaterade från studien att priset hade samband med 2 faktorer, företagets storlek och hur välutformad företagets hållbarhetsredovisning var. Det var dock inget tvång att dessa två faktorer skulle förkomma samtidigt. Att priset skiljde sig åt trodde vi bland annat kunde bero på antalet granskningspunkter i en bestyrkanderapport. Detta kunde vi dock inte konstatera eftersom inga sådana samband urskiljdes.

Syfte: Syftet i denna studie uppkom ur vårt intresse för nyckeltalsanvändning inom ett relativt nytt område som hållbarhet. Vi läste på om hållbarhetsnyckeltal och ur denna tidigare forskning inom ämnet så blev vårt syfte att skapa en ökad förståelse kring den praktiska användningen samt nyttan med hållbarhetsnyckeltal, med avseende på TBL-modellen. Metod: Studien bygger på en kvalitativ forsningsmetod inom vilken personliga intervjuer har utförts på fem fallföretag. Intervjuerna spelades in och sedan jämfördes samt analyserades resultatet av dessa med det teoretiska ramverket inom studien.           Resultat &amp; slutsats: Studien har visat på vilken praktisk användning samt nytta hållbarhetsnyckeltal har eller skulle kunna ha för företag eller organisationer. Studien har därutöver också visat på att företag och organisationer aktivt talar om hållbarhet samt att hållbarhetsfrågor är integrerade i den dagliga verksamheten.

The purpose of this study is to examine the accounting standard-setting process in relation to emissions rights and related liabilities in the Korean context in order to provide a better understanding of accounting issues under an emissions trading scheme (ETS). Using an interpretive inductive approach, this study comprises semi-structured, face-to-face interviews and analysis of relevant documents. Interviews were carried out with a wide range of key players, including accounting standard setters (Korean Accounting Standards Board, International Accounting Standards Board, and Autorité des Normes Comptables), accounting experts, industry and government. This study identifies how problematic accounting issues on emissions rights and related liabilities have been addressed by accounting standard setters. The key accounting issues under ETS are linked mainly with free allowances. It is found that accounting standard setters attempt to establish the most appropriate accounting standard under the given circumstances reflecting a variety of considerations, and that the most common elements affecting the development of accounting standards for ETS are the legal and economic context, the existing accounting framework, and preceding models and practices. Nevertheless, these factors affect the development of accounting standards for ETS in different ways. Accordingly, the primary accounting issues on which each standard setter concentrates vary depending on different circumstances and considerations. This study investigates the accounting standard-setting process for emissions rights by Korean accounting standard setters, from the agenda-setting stage to the final publication of the standard. The findings reinforce the importance of political factors in the standard-setting process, including stakeholders’ participation in the process, prominent stakeholders, and the motivation, methods and timing of lobbying activities. In particular, the findings have important implications for the effectiveness of lobbying. Overall, the findings confirm that accounting standards are likely to be the political outcome of interactions between the accounting standard setter and stakeholders. The findings highlight desirable factors for accounting models of emissions rights. Desirability or appropriateness of standard is judged by the extent to which stakeholders in institutional environments consider the promulgation to be legitimate or authoritative. Therefore, accounting standard setters must make greater efforts to encourage stakeholders to participate in the standard-setting process in order to ensure institutional legitimacy. The originality of this study lies in its empirical research on accounting issues for ETS from a practical point of view. In particular, in its timely and detailed investigation of Korean accounting standard setters, this study provides a broader understanding of the accounting standard-setting process in the Korean context. The study also advances legitimacy theory by offering a framework particularly applicable to accounting standard setting process, which also incorporates stakeholder theory research. The study finds support from the framework and further contributes to the related literature by reviewing legitimacy conflicts. From an accounting policy point of view, the findings have implications for both national and international standard setters and provide guidance on how to achieve high-quality accounting standards with a high degree of compliance.