Argues that many corporate executives have destroyed the value of their companies, cheated stockholders, employees, and the public, and compromised the integrity of financial markets and accountants while enriching themselves.

At the end of the 1990s, Brazil was faced with a potentially explosive HIV/AIDS epidemic. Through an innovative and multifaceted campaign, and despite initial resistance from multinational pharmaceutical companies, the government of Brazil was able to negotiate price reductions for HIV medications and develop local production capacity, thereby averting a public health disaster. Using interview data and document analysis, the authors show that the exercise of corporate social responsibility can be viewed in practice as a dynamic negotiation and an interaction (...) between multiple actors. Action undertaken in terms of voluntary CSR alone may be insufficient. This finding highlights the importance of a strong role for national governments and international organizations to pressure companies to perform better. (shrink)

Most major pharmaceutical companies have corporate social responsibility policies that pledge their commitment to improving the health and quality of life of people around the world. Yet these same companies also have difficulty in ensuring that developing countries have access to affordable medications. In the late 1990s, Brazil engaged in a heated battle with large US-backed multinational pharmaceutical companies. Brazil was facing a growing HIV epidemic and was determined to provide treatment to those in need. This required massive price reductions (...) on HIV medications. Although met with resistance, Brazil’s campaign eventually resulted in the negotiation of significant price reductions. Our study examines how Brazil was able to secure these price concessions. We conclude that corporate social responsibility initiatives must be viewed as a dynamic interaction between multiple actors. Our study highlights the importance of governmental action, in both the national and international forums, to negotiate pro-actively with companies to ensure that CSR commitments are met. (shrink)

Most major pharmaceutical companies have corporate social responsibility policies that pledge their commitment to improving the health and quality of life of people around the world. Yet these same companies also have difficulty in ensuring that developing countries have access to affordable medications. In the late 1990s, Brazil engaged in a heated battle with large US-backed multinational pharmaceutical companies. Brazil was facing a growing HIV epidemic and was determined to provide treatment to those in need. This required massive price reductions (...) on HIV medications. Although met with resistance, Brazil’s campaign eventually resulted in the negotiation of significant price reductions. Our study examines how Brazil was able to secure these price concessions. We conclude that corporate social responsibility initiatives must be viewed as a dynamic interaction between multiple actors. Our study highlights the importance of governmental action, in both the national and international forums, to negotiate pro-actively with companies to ensure that CSR commitments are met. (shrink)