Are sustainable citizens firms really socially responsible? Evidence on American companies

The objective of this research is to check if sustainable social status is an explanatory framework or a constraint for development of sustainable opportunistic strategies. Based on a specific sample, which is sustainable citizen companies along the period 2002-2007, we examine through panel, comparative and qualitative studies: financial, governance and social characteristic of these firms. Our findings show several important facts. First, our results have proven that the earning management can be a tool to improve sustainable ranking on the list of the "100 best citizens corporate ". Second, we showed a new type of negative social entrenchment which can be the main cause of discretionary earning management. These findings highlight the opportunistic practices even in ideal companies.