Scandinavia is routinely cited as a global leader in corporate social responsibility and sustainability. In this article, we explore the foundation for this claim while also exploring potential contributing factors. We consider the deep-seated traditions of stakeholder engagement across Scandinavia including the claim that the recent concept of “creating shared value” has Scandinavian origins, institutional and cultural factors that encourage strong CSR and sustainability performances, and the recent phenomenon of movement from implicit to explicit CSR in a Scandinavian context and (...) what this may entail. In sum, we depict the state of the art in CSR and sustainability in Scandinavia. We intend for this to serve as a basis to help establish a globally recognized research paradigm dedicated to considering CSR and sustainability in a Scandinavian context. (shrink)

In this article, we first provide evidence that Scandinavian contributions to stakeholder theory over the past 50 years play a much larger role in its development than is presently acknowledged. These contributions include the first publication and description of the term “stakeholder”, the first stakeholder map, and the development of three fundamental tenets of stakeholder theory: jointness of interests, cooperative strategic posture, and rejection of a narrowly economic view of the firm. We then explore the current practices of Scandinavian companies (...) through which we identify the evidence of relationships to these historical contributions. Thus, we propose that Scandinavia offers a particularly promising context from which to draw inspiration regarding effective company-stakeholder cooperation and where ample of examples of what is more recently referred to as “creating shared value” can be found. We conclude by endorsing the expression “Scandinavian cooperative advantage” in an effort to draw attention to the Scandinavian context and encourage the field of strategic management to shift its focus from achieving a competitive advantage toward achieving a cooperative advantage. (shrink)

The objective of this editorial is to help authors better understand how to contribute to discourse on corporate sustainability and business ethics. We do this in two ways. First, we clarify our expectations for publication in the “Corporate Sustainability and Business Ethics” section at the Journal of Business Ethics (JBE). As section editors at the journal, we want to make explicit the criteria we apply in our decisions to accept or reject a submission. We argue that authors should explicitly reflect (...) upon what corporate sustainability means in the context of their research. We also stress that publishing in JBE requires an explicit central focus on ethics. We do not take a position on how authors must do either of these two, only that it should be done. In short, there are good business ethics papers that do not add to corporate sustainability theory building or practice, and there are good corporate sustainability papers that are not framed in a business ethics discourse. For the “Corporate Sustainability and Business Ethics” section, we expect authors to strive for both. Second, we provide several illustrations of how corporate sustainability research can be framed from a business ethics perspective around three central sustainability constructs: objective function, carrying capacity, and generational sustainability. These examples are not intended to be comprehensive or to bound the range of acceptable research for JBE’s “Corporate Sustainability and Business Ethics” section. Rather, we aim to provide representative examples of potentially publishable research on business ethics and corporate sustainability to spur innovative thinking and constructive discussion. We hope this editorial will help authors better understand what we expect from submissions to the “Corporate Sustainability and Business Ethics” at JBE. (shrink)

This introduction to the special issue on impact investing applies the attractive nuisance notion to impact investing. Social sector actors ‘trespassing’ on the playing field of conventional investment markets may not appreciate the risks. We apply the framework of essentially contested concepts to foster fruitful diverse research in this emerging research field. We advance six dimensions, which we propose allow to describe different sub-clusters of how the term is used in research and practice. For each dimension we identify risks and (...) opportunities stemming from the contested nature and highlight an ambitious research agenda for how future business ethics scholars can help address and foster impact investing. We conclude by illustrating how the papers in this special issue address these challenges. (shrink)

In this article, we first provide evidence that Scandinavian contributions to stakeholder theory over the past 50 years play a much larger role in its development than is presently acknowledged. These contributions include the first publication and description of the term “stakeholder”, the first stakeholder map, and the development of three fundamental tenets of stakeholder theory: jointness of interests, cooperative strategic posture, and rejection of a narrowly economic view of the firm. We then explore the current practices of Scandinavian companies (...) through which we identify the evidence of relationships to these historical contributions. Thus, we propose that Scandinavia offers a particularly promising context from which to draw inspiration regarding effective company-stakeholder cooperation and where ample of examples of what is more recently referred to as “creating shared value” can be found. We conclude by endorsing the expression “Scandinavian cooperative advantage” in an effort to draw attention to the Scandinavian context and encourage the field of strategic management to shift its focus from achieving a competitive advantage toward achieving a cooperative advantage. (shrink)

Based on an inductive study we analyse the role of the investor relations (IR) function in the light of rising investor concern about corporate social responsibility (CSR). The study draws on interviews with IR professionals in twenty firms. It highlights their awareness of CSR issues as well as their assessment of concern among mainstream investors and socially responsible investors (SRIs). From these findings we develop suggestions on how the IR function is moving from a mere “broadcasting” mode regarding CSR issues (...) into a much more interactive mode of relationship management. (shrink)