This paper argues that multinational corporations face levels of environmental and social responsibility higher than their national counterparts. Drawing on the literatures of stakeholder salience, corporate reputation management, and evidence from the confrontation between Shell and Greenpeace over the Brent Spar, in 1995, two mechanisms – international reputation side effects, and foreign stakeholder salience – are identified and their contribution in creating an environment more restrictive, in terms of environmental and social responsibility, is (...) elaborated on. The paper concludes with discussing the links of the work presented here with a number of ongoing debates within the filed of international business ethics, and the managerial implications of the two mechanisms identified. (shrink)

This paper examines how competition and competitive strategy influence companies’ propensity to engage in socially and environmentally responsible procurement processes (SERP). We interview 141 British procurement managers, on their perception of their company’s competitive strategy and the competitive environment in which they operating in. In addition, participants were asked how important responsible procurement was for their overall business and their strategy.Our results suggest that companies that produce a differentiated product engage in relatively proactive SERP process, compared to their counterparties, who (...) aimed to produce a product at the lowest price possible. (shrink)

This study assesses the impact had by institutional isomorphic pressures in the organisational fields of 185 businesses operating within the United Kingdom. The emphasis throughout is on how external institutions affect the socially and environmentally responsible aspects of an organization’s purchasing practice. Factor analyses and a linear regression model are employed to test the influence of these pressures. Initial findings suggest that what other industry participants are doing in this area is not as important in affecting the procurement practice of (...) the focal organisation as is the managers’ perception of how legitimacy is awarded by stakeholders and, indeed, if competitors with well-developed social and environmental supply chain management programs are perceived favourably in the industry. (shrink)

The financial services sector has the potential to be an important driver for improved corporate social and environmental responsibility through its control over corporate financing. But, so far, only ad hoc policy initiatives have arisen in the European Union and other countries. Because the financial services sector is where wholesale decisions regarding future development, and thus pressures on the environment, arise, the reform of investment and banking services to promote long term investment and better consideration of (...) class='Hi'>environmental impacts may be an effective way to promote sustainable development. Reforms such as corporate environmental reporting requirements and lender liability for borrowers’ environmental harm, are some of the ways by which an institutional framework for mobilising financial organizations as instruments of environmental regulation could be constructed. (shrink)

We study behind-the-scenes investor activism promoting environmental, social, and governance improvements by means of a proprietary dataset of a large international, socially responsible activist fund. We examine the activist’s target selection, forms of engagement, impact on ESG performance, drivers of success, and effects on the targets’ operations and value creation. Target firms are typically large and visible, perform well, and have high liquidity and low ESG performance. Engagement induces ESG rating adjustments: firms with poor ex ante ESG (...) ratings experience a ratings increase after complying with the activist’s demands, whereas firms with high ex ante ESG ratings experience a ratings decrease following the revelation of their ESG problems. Activism that is focused on environmental and social issues is more likely to succeed if targets are ESG-sensitive. Successful engagements boost targets’ sales. Risk-adjusted excess stock returns of successful engagements outperform those of unsuccessful engagements by 2.7%. Results are especially strong for firms with low ex ante ESG scores. Specifically, targeted firms in the lowest ex ante ESG quartile outperform matched peers by 7.5% in the year after the end of the engagement. Our results thus suggest that the activism regarding corporate social responsibility generally improves ESG practices and corporate sales and is profitable to the activist. Taken together, we provide direct evidence that ethical investing and strong financial performance, both from the activist’s and the targeted firm’s perspective, can go hand-in-hand together. (shrink)

Since the times of yore, the Indian culture has always laid importance on service to society as an important responsibility of the business/trader community. The society and local community is the resource pool from which any organization gets its manpower and also so to say ‘the license to operate’. The society is the entity to which an organization owes its existence. Any organization must pay its due in various ways to this important constituency. Though a number of models and (...) frameworks have been identified by experts for Corporate Social Responsibility, the author has found a dearth of real-life cases of leading organizations and their endeavours towards societal welfare and environmental protection. The author has used the case of Hindustan Unilever Ltd, a leading company in the FMCG sector in India for the past seven decades, to highlight their best practices towards the society, local community, NGOs and the natural environment. In spite of being a multinational organization, the Company has lived up to the Indian values of service to society. The case follows a descriptive research design and the findings include diverse, innovative and landmark initiatives undertaken by the Company to contribute to societal welfare through rural and women’s empowerment, livelihood generation, rehabilitation and natural environment protection and preservation. The data collection for this case has been done by the author through personal interviews with top executives of the Company and supplemented through other information available in the public domain. (shrink)

Despite much research now being published on Environmental, Social, and Governance (ESG) investments and Initial Public Offerings (IPOs) withdrawal risk, there appears to be a lack of evidence on the prospective IPO withdrawal risk associated with voluntary disclosure of ESG policies. This paper investigates the influence of ESG disclosure on IPO withdrawal by comparing voluntary ESG disclosure to conventional IPOs in the international market. A large data set is employed here, containing 33,535 failed and successful IPOs from (...) 1995 to 2019 from several nations with their own legal systems, cultural norms, and economic systems. The findings reveal that voluntary disclosure of ESG practices does significantly reduce the likelihood of an IPO withdrawal, by as much as 48%. These findings strongly suggest that organizations engaged in ESG activities perceive voluntary disclosure as an incentive, to adhere to social expectations. Consequently, reducing the asymmetry of information between IPO participants minimizes the withdrawal risk these companies face, hence diminishing doubts about their legitimacy. The results have consequences for IPO businesses, investors, researchers, and regulators. (shrink)

It is usually the case that scientists examine either ecological systems or social systems, yet the need for an interdisciplinary approach to the problems of environmental management and sustainable development is becoming increasingly obvious. Developed under the auspices of the Beijer Institute in Stockholm, this new book analyses social and ecological linkages in selected ecosystems using an international and interdisciplinary case study approach. The chapters provide detailed information on a variety of management practices for dealing with (...) environmental change. Taken as a whole, the book will contribute to the greater understanding of essential social responses to changes in ecosystems, including the generation, accumulation and transmission of ecological knowledge, structure and dynamics of institutions, and the cultural values underlying these responses. A set of new (or rediscovered) principles for sustainable ecosystem management is also presented. Linking Social and Ecological Systems will be of value to natural and social scientists interested in sustainability. (shrink)

This paper uses an environmental justice framework to examine government response to weather-related disasters dating back some eight decades. It places the 2005 Hurricane Katrina disaster in socio-historical context of past emergencies with an emphasis on race and class dynamics and social vulnerability. Key questions explored include: What went wrong? Can it happen again? Is government equipped to plan for, mitigate against, respond to, and recover from natural and manmade disasters? Can the public trust government response to be (...) fair? Why are so many African Americans Alocked out@ of New Orleans= post-Katrina rebuilding, reconstruction, and recovery? (shrink)

The aim of this paper is to shed some light on understanding why companies adopt environmentally responsible behavior and what impact this adoption has on their performance. This is an empirical study that focuses on the United Nations (UN) Global Compact (GC) initiative as a Corporate Social Responsibility (CSR) mechanism. A survey was conducted among GC participants, of which 29 responded. The survey relies on the anticipated and actual benefits noted by the participants in the GC. The results, (...) while not conclusive, indicate that companies have more than one reason for adopting environmentally responsible behavior and that ethical and economic reasons co-exist. In terms of performance, the impact of participation in the GC seems to be particularly high in securing network opportunities and improved corporate image. The results indicate that companies that have participated many years in the GC, have submitted the most projects and have attended the most GC meetings also regard their CSR involvement as having had a strong, positive influence on their market performance. GC participation does not result in significant cost advantages, but this does not seem to have been regarded as a goal anyway. Costs seem to be affected to a␣large extent by existence of in-house research and␣development and the capability of developing environmentally sound technologies. Overall, the company receives both ethical and economic benefits from joining the GC. (shrink)

Se presentan los resultados de un estudio que explora la gestión de la responsabilidad social en trece hospitales de la Red Sanitaria de RS. Las conclusiones revelan que estos hospitales gestionan la RS profesionalmente y con criterios de calidad, orientados al cumplimiento de los ODS, en el marco del plan estratégico de cada hospital. Aunque, todavía se detectan déficits en su implantación departamental, su planificación, y la evaluación de sus impactos. Y debilidades como la falta de recursos y de (...) liderazgo. Para superarlos, el apoyo directivo del hospital resulta determinante. La Red Sanitaria de RS constituye un modelo de colaboración. (shrink)

Most of the discussion in bioethics and health policy concerning social responsibility for health has focused on society’s obligation to provide access to healthcare. While ensuring access to healthcare is an important social responsibility, societies can promote health in many other ways, such as through sanitation, pollution control, food and drug safety, health education, disease surveillance, urban planning and occupational health. Greater attention should be paid to strategies for health promotion other than access to healthcare, such (...) as environmental and public health and health research.Lifestyle plays a major role in most of the illnesses in industrialised nations.1 Six of the 10 leading factors contributing to the global burden of disease are lifestyle related: unsafe sex, high blood pressure, tobacco use, alcohol use, high cholesterol and obesity.2 Lifestyle-related illnesses also contribute to the rising costs of healthcare. Spending on healthcare accounts for about 16% of the gross domestic product in the USA, or US$1.9 trillion.3 Although smoking has declined steadily there since the 1960s, smoking-related medical expenses are still about US$75.5 billion per year.4 Obesity, which has been climbing in the past two decades, accounts for about US$75 billion in healthcare costs there each year.5 Alcoholism and drug addiction in the USA account for annual healthcare costs of about US$22.5 billion and US$12 billion, respectively.6,7 Federal government spending on healthcare relating to HIV/AIDS is over US$13 billion per year.8Given the well-documented relationship between lifestyle, disease burden and healthcare costs, it makes economic and medical sense to hold individuals morally responsible for their health-related choices. While this view has a great deal of intuitive appeal, it also faces numerous objections.9–12 First, holding individuals entirely responsible for their own health conflicts with medicine’s obligation to treat the sick and society’s obligation …. (shrink)

Democracy has been a flawed hegemony since the fall of communism. Its flexibility, its commitment to equality of representation, and its recognition of the legitimacy of opposition politics are all positive features for political institutions. But democracy has many deficiencies: it is all too easily held hostage by powerful interests; it often fails to advance social justice; and it does not cope well with a number of features of the political landscape, such as political identities, boundary disputes, and (...) class='Hi'>environmental crises. Although democracy is valuable it fits uneasily with other political values and is in many respects less than equal to the demands it confronts. In this volume prominent political theorists and social scientists present original discussions of such central issues. Democracy's Values deals with the nature and value of democracy, particularly the tensions between it and such goods as justice, equality, efficiency, and freedom. (shrink)

Responsible investing (RI) is a growing phenomenon in the international investment arena. This article investigates the level of knowledge of members of South African pension/provident funds with regard to RI and the importance with which they view various ethical, environmental, social and governance (ESG) criteria. Respondents ( n = 281) indicated a relatively low level of understanding of the concept of RI. Significant differences were noted in the perceptions of respondents about the relative importance of ethical and (...) ESG criteria based on their gender and level of education. The findings could assist asset owners in reformulating their investment mandates, which in turn, will enable fund managers to invest in a more responsible manner. (shrink)

This study investigates the relationships among Machiavellianism, attitudes towards the perceived importance of corporate ethics and social responsibility, referred to here as PRESOR attitudes, and certain attitudes toward environmental responsibility, i.e., support for corporate environmental accountability and environmentally motivated purchasing intentions, amongst undergraduate students. Data were collected from a survey of all final year undergraduate students at a university in Hong Kong. Structural equations analyses were used to investigate the associations amongst the variables. The study (...) finds that Machiavellianism and belief in the importance of CESR play important roles in the development of university students’ attitudes toward certain environmental issues. Specifically, high Machiavellian students expressed lower levels of belief in the importance of CESR, which in turn were associated with weaker pro-environment views. The findings suggest that educational efforts to cultivate students’ PRESOR attitudes and/or reduce their levels of Machiavellianism would enhance their pro-environment views. (shrink)

One of the major roadblocks in conducting Environmental Corporate Social Responsibility (ECSR) research is operationalization of the construct. Existing ECSR measurement tools either require primary data gathering or special subscriptions to proprietary databases that have limited replicability. We address this deficiency by developing a transparent ECSR measure, with an explicit coding scheme, that strictly relies on publicly available data. Our ECSR measure tests favorably for internal consistency and inter-rater reliability, as well as convergent and discriminant validity.

This paper unravels an unprecedented interplay between board gender diversity (BGD) and corporate environmental, social, and governance (ESG) disputes among Chinese A-share-listed nonfinancial companies from 2017 to 2021. Framed within a knowledge-based and sensemaking perspective of institutional frameworks, the research not only illuminates the profound impact of internal (corporate governance ratings) and external (regional institutional development) institutional factors on this intricate relationship but also brings to light a paradigm-shifting revelation. The study employed a diverse set of empirical tests, (...) ranging from ordinary least squares regression to advanced methods such as the generalized method of moments, two-stage least squares, and propensity score matching, providing a nuanced and comprehensive analysis. The findings highlight the pivotal role of female directors in significantly mitigating ESG disputes. A mechanism analysis further uncovers that internal and external institutional quality are potent positive moderators in shaping the BGD–ESG dispute dynamic. This research has profound implications, providing valuable insights for stakeholders, policymakers, and scholars, offering a comprehensive understanding of how gender diversity fosters sustainability while unravelling the intricate tapestry of internal and external institutional dynamics that shape ESG outcomes. (shrink)

Ecotourism has been lauded as a potentially effective means for raising revenue for nature conservation, and certification schemes likewise promise to help to “sustain the well-being of local people” in ecotourist destinations. In this paper, we consider the social and environmental justice dimensions of ecotourism through the certification schemes that define the industry, treating the desire to engage in ethically responsible travel as a necessary but insufficient condition for bringing about these desired ends, and one that requires accurate (...) and trustworthy information in order to effectively realize ecotourism’s potential to engage normative concerns through leisure activities. (shrink)

There are three types of solutions to the problems deriving from companies' ethical, social and environmental responsibilities: those based on regulation by an authority or agency; those deigned to create market incentives; and those that rely on self-regulation by companies themselves. In the specific field we are concerned with here, regulation has significant costs and drawbacks that make it particularly desirable that companies should set up their own ethical, social and environmental management systems or programmes. The (...) purpose of this article is twofold. On the one hand, it explains how implementing voluntary ethical, social and environmental management systems or programmes may help to develop and sustain ethical behaviour in organizations, overcoming the conflict between compulsory regulation and occasional ethical practices. On the other hand, it shows that conditions must be met for an ethical management programme to be effective. (shrink)

This article describes the causes and health consequences of environmental degradation and social injustice. These issues, which impact primarily on the poor and underserved (both in the United States and internationally) are rarely or inadequately covered in the curriculums of traditional health care professions. The discussion offers ways for health care professionals to promote equality and justice and uses the example of Rudolph Virchow’s social activinsm to illustrate how one physician can lead society toward major public health (...) gains. There is also an examination of the roles of institutions and organisations in enhancing environmental preservation and promoting social justice. Specific curricular suggestions from history and the humanities are offered for those teaching and mentoring new health professionals. (shrink)

There is a growing global interest in social responsibility and sustainability across all sectors. Other than economic performance, stakeholders are now also concerned about the social and environmental impacts of corporations. Additionally, stakeholders are obtaining a higher salience level and expect organisations to operate sustainably. The banking sector has not been an exception, as banks can have significant impact on their customers, employees, and society in various ways. Given the intertwined links of Islam and ethical principles, (...) it is expected that Islamic banks will show a high level of commitment towards social responsibility (SR) and ethical practices. The current study investigates this issue by examining the annual reports of three fully-fledged Islamic commercial banks in Indonesia over the period of 2007 to 2011. It was found that only two of the investigated banks had continuous improvement in their SR disclosure. Additionally, it was revealed that the highest disclosures have been for ‘corporate vision’ and ‘board of directors and top management’, while the lowest disclosures were evident for ‘environment’ and ‘product, services and fair dealing with supply chain’. (shrink)

This article adopts an issues management approach to corporate social responsibility implementation. Issues evaluation, which is an integral component of issues management, can be conducted by using the concept of three expectational gaps. However, the concept of expectational gaps suffers from an ambiguity that limits its application to issues evaluation. The legitimacy gap concept is used in this article to clarify the ambiguity surrounding expectational gaps. The study thus develops a four-gap framework for conducting a quantitative issues evaluation. (...) This framework is applied to six social and six environmental issues in the context of the forest products industry in the Northwest United States by means of a survey of 278 society and 94 industry respondents. Results empirically demonstrate the existence of expectational gaps and also provide insights into the nature of misalignment between societal and business perceptions along these social and environmental issues. Appropriate managerial responses are suggested to narrow or bridge different types of gaps. (shrink)

Based on a case study of a large multinational group, this paper addresses the way in which social and environmental reporting systems were changed and the consequences and controversies associated with this change. Drawing on Power’s work on the processes by which things are made auditable via underlying systems, we focus on how and why a specific programme with auditability as its ultimate aim changed the basis on which the external social and environmental report was prepared. (...) Our analysis demonstrates that the perceived alignment with the financial report preparation and the explicit pursuit of auditability legitimized SER and paved the way for data systems to be changed. The programme borrowed authority from financial accounting technologies not only to make a system change but also to push SER internally, as we suggest that an intraorganizational group used the programme to ensure the existence and organizational status of SER. However, we also illustrate some of the practical challenges associated with this change, which include issues related to internal control and the establishment of organizational boundaries. (shrink)

Disasters arising from natural hazards affect millions of people every year, killing tens of thousands and causing major economics losses. They disproportionately affect poor people and poor countries and are a threat to the achievement of the Millennium Development Goals. A root cause is the vulnerability of communities to natural hazards, often associated with poverty, social and economic disadvantage, environmental exploitation, and insufficient awareness, information, and political interest. Too often, disaster risk is not factored into planning and management, (...) despite the ready availability of the necessary knowledge, tools and policy frameworks to reduce the risks. Moreover it is likely that global warning will increase the number and intensity of hazard events in future. Recognizing these issues, in 2005 Governments agreed on the landmark Hyogo Framework for Action, which seeks to achieve a substantial reduction in disaster losses by 2015. Progress is slow, however, and a greatly scaled-up effort will be needed to achieve this outcome and to avoid an unnecessarily risky and dangerous future for the countless communities worldwide. (shrink)

This study is grounded in the debate surrounding the perceived value of environmental social responsibility (ESR). Applying the Managerial Theory of the Firm, in-depth interviews were conducted to identify managerial motives, perceptions, and perceived value of ESR. Using sport and public assembly facilities as the research context, environmentally responsible information was obtained from facility managers who were members of the International Association of Venue Managers. In total, 15 one-hour, interviews with key facility personnel demonstrate that (1) (...) internal stakeholder pressure, (2) organizational culture, (3) financial cost-benefit, (4) competitiveness, and (5) ethical motives were the drivers for ESR engagement. Taken together, the findings suggest that establishing a culture of ESR, the "business case" for environmental responsibility, and ethical concerns offered the most value for the sport and public assembly facility managers. (shrink)

We examine how corporate environmental responsibility affects the cost of equity capital for manufacturing firms in 30 countries. Using several approaches to estimate firms’ ex ante equity financing costs, we find in regressions that control for firm-level characteristics as well as industry, year, and country effects that the cost of equity capital is lower when firms have higher CER. This finding is robust to addressing endogeneity through instrumental variables, to using alternative specifications and proxies for the cost of (...) equity capital, and to accounting for noise in analyst forecasts. We conclude that investment in CER reduces firms’ equity financing costs worldwide. (shrink)

Corporations are increasingly forced to widen their agendas to include social and environmental concerns, or corporate social responsibility (CSR). This development has been recorded in the current academic debate, and the views regarding its implications for business, the state, and civil society diverge. However, there is agreement within the CSR and corporate governance literatures that there is a lack of thorough empirical studies of these effects. Based on a case study of the multinational wind energy company (...) Suzlon Energy's CSR projects in rural India, this article contends that CSR projects implemented through cross‐sector partnerships can help to build the capacities of civil society organizations (CSOs). Although the risk of corporate steering of the civil society agenda is reduced when CSR prioritizes community needs over business imperatives, CSOs tend to bear the highest costs in partnerships, through credibility losses and insecurity concerning project terms and funding, reinforcing the importance of critical cooperation and complementary core competencies in cross‐sector partnerships. The results have implications for the strategies of corporations, CSOs, and governments as well as for the planning of national and international development aid. (shrink)

The question of how an individual firm's social and environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decrease its market risk or is environmental performance just a disadvantageous cost that increases such risk levels for these firms? Answers to this question have important implications for the management of companies and the investment decisions of individuals and institutions. The purpose of (...) this paper is to examine the relationship between corporate environmental performance and firm risk in the British context. Using the largest dataset assembled so far, with community and environmental responsibility (CER) rankings for all rated UK companies between 1994 and 2006, we show that a company's environmental performance is inversely related to its systematic financial risk. However, an increase of 1.0 in the CER score is associated with only a 0.028 reduction in its β. (shrink)

The question of how an individual firm's social and environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decrease its market risk or is environmental performance just a disadvantageous cost that increases such risk levels for these firms? Answers to this question have important implications for the management of companies and the investment decisions of individuals and institutions. The purpose of (...) this paper is to examine the relationship between corporate environmental performance and firm risk in the British context. Using the largest dataset assembled so far, with community and environmental responsibility (CER) rankings for all rated UK companies between 1994 and 2006, we show that a company's environmental performance is inversely related to its systematic financial risk. However, an increase of 1.0 in the CER score is associated with only a 0.028 reduction in its β. (shrink)

This paper examines whether a firm’s financial performance is associated with superior environmental, social and governance scores in emerging markets of multinationals in Latin America. The study addresses the current research gap on this issue; it develops hypotheses and tests them by applying linear regressions with a data panel drawn from the Thomson Reuters Eikon™ database to analyse data on 104 multinationals from Brazil, Chile, Colombia, Mexico and Peru between 2011 and 2015. The results suggest that the relationship (...) between the ESG score and FP is significantly statistically negative. Furthermore, in examining environmental, social and governance separately to accurately determine each variable’s relationship to multilatinas’ FP, the results reveal a negative relationship. Finally, the empirical analysis provides evidence for a moderating effect of financial slack and geographic international diversification on the relationship between ESG dimensions and firms’ FP. This study furthers understanding of the relationship between ESG dimensions and FP for the Latin American business context. (shrink)

Nowadays, a significant portion of corporate social responsibility (CSR) communication takes place online. The current article attends to an essential, yet often overlooked element of online CSR communication: cross-sectoral hyperlink networks. The article argues that corporations build cross-sectoral hyperlink networks with nongovernmental organizations (NGOs) as a form of CSR communication to manage social issues. Using social network analysis, this article analyzes the hyperlink network data between 136 corporations and 94 international NGOs. Findings show that corporations’ (...) cross-sectoral ties serve as a communication strategy to respond to salient issues and manage issues that are relevant to these corporations. NGOs’ tenure and network dynamics are also found to significantly affect the number of cross-sectoral ties built with corporations. (shrink)

Green finance plays a crucial bridge as an intermediary between finance and the environment, facilitating resource allocation. The disclosure of environmental information (EID) is vital for promoting sustainable economic development. This study utilizes panel data covering the period from 2012 to 2019, focusing on Chinese companies listed in high-polluting industries. The findings demonstrate that green finance policies have a significant positive impact on EID, while increased managerial power has a detrimental effect. However, green finance policies can mitigate the negative (...) consequences arising from moral hazard and adverse selection resulting from managerial power. They enhance the quality of EID by restricting long-term loan resources for polluting entities. The heterogeneity test reveals that the effectiveness of green finance policies in promoting EID varies across different regions of China. In non-state-owned companies, green finance policies are more effective in constraining managerial power. The moderating effect of green finance on managerial power is weakened by improvements in internal control. Green financing can offset the adverse impact of managerial power on EID when debt levels are high. Our research plays a crucial role in advancing micro-academic studies in the field of green finance. By strengthening internal controls for corporate managers and promoting EID policies, we provide essential support and guidance to decision-makers. (shrink)

This book examines the development and adoption of corporate social responsibility in Polish businesses and social and environmental organizations, and analyzes the corresponding impact at the strategic and operational level in these fields. It presents the status quo of CSR in Poland from three main perspectives: The first presents theoretical works based on current research and recent advances, while the next takes a closer look at empirical findings in the different fields of CSR and presents best (...) practices from major international companies operating on the Polish market. Lastly, it presents a range of case studies from small and medium companies and NGOs in Poland and gives an outlook on the future development. Readers will benefit from an in-depth discussion of the opportunities and challenges that businesses and organizations in Poland are currently facing with regard to traditional national values and the influx of new cultural and social dimensions and patterns produced by international businesses entering the Polish market. Taken together, the lessons learned, case studies and snapshots of the latest developments provide a comprehensive overview of the state of the art of CSR in Poland, as well as a blueprint that can be applied to other Eastern European countries. (shrink)

This papers attempts to bridge business ethics to corporate social responsibility including the social and environmental dimensions. The objective of the paper is to suggest an improvement of the most commonly used corporate environmental management tool, the Life Cycle Assessment (LCA). The method includes two stages. First, more phases are added to the life-cycle of a product. Second, social criteria that measure the social performance of a product are introduced. An application of this (...) “extended” LCA tool is given. (shrink)

The paper examines the issue of corporate social responsibility against the backdrop of its self-regulatory posture. Using the African experience as a case study, the paper observes that the activities of multinationals show very clearly that they are grossly irresponsible despite their professed self-regulation. Instead, the multinationals have created an image of terror due to their deep-rooted involvements in human rights abuses, environmental degradation, tax evasion, bribery, market manipulation, and other forms of unethical practices, notwithstanding their so-called (...) self-regulation. The paper concludes by advocating the establishment of a broad-based United Nations Global Business Regulatory Agency to fully take charge of corporate regulation in the global business terrain. (shrink)

The paper examines the issue of corporate social responsibility (CSR) against the backdrop of its self-regulatory posture. Using the African experience as a case study, the paper observes that the activities of multinationals show very clearly that they are grossly irresponsible despite their professed self-regulation. Instead, the multinationals have created an image of terror due to their deep-rooted involvements in human rights abuses, environmental degradation, tax evasion, bribery, market manipulation, and other forms of unethical practices, notwithstanding their (...) so-called self-regulation. The paper concludes by advocating the establishment of a broad-based United Nations Global Business Regulatory Agency to fully take charge of corporate regulation in the global business terrain. (shrink)

“Political” corporate social responsibility involves businesses taking a political role to address “regulatory gaps” caused by weak or insufficient social and environmental standards and norms. The literature on political CSR focuses mostly on how large multinational corporations can address environmental and social problems that arise globally along their supply chains. This article addresses political CSR of small- and medium-sized enterprises. SMEs represent a major share of economic value creation worldwide and are increasingly exposed to (...) regulatory gaps. Although SMEs differ substantially from MNCs in terms of organizational characteristics, behavioral guiding principles, and financial and human resources, they should still tackle such regulatory gaps by accepting a political role. Drawing on Zadek’s model of CSR-based organizational learning and Young’s concept of social connection, this study develops a conceptual framework as the basis for discussing why SMEs should become involved in political CSR, how they can manage political CSR internally and systematically, and how their progress can be assessed by third-party observers externally. (shrink)

Long run success in watershed management requires understanding of how economic stratification and social values affect water quality protection. Feedback effects on water quality are produced by three aspects of economic well-being: income levels, quality of life and inequality, including the effects of gender based inequality. In the US emphasis on individualistic values leads to reliance on local and private policy solutions to social problems. Analysis of the context of New York City's internationally famous watershed agreement with communities (...) 120 miles distant provides a case study of these relationships. The nature of economic stratification in these upstate communities and the insufficient response of social policies were an impediment to achieving New York City's water quality goals. As a consequence the City's watershed agreement contains direct economic aid to Watershed communities. The Agreement does not address all stratification issues. Some call for solutions beyond the local level and an approach that benefits from the European emphasis on community. It is in the interest of watershed managers to broaden the scope of their concerns to understand and support state and national programs which address problems created by economic stratification. The expansion of the European Union increases the relevance of these lessons for Europe. (shrink)

This paper aims to examine the credibility value of sustainability assurance and the type of assurance provider on cost of capital. A large sample of international companies from the period 2007–2014 was used to develop our models of analysis. We find a greater decrease in cost of capital for companies that publish and assure their social and environmental reports. Thus, voluntary sustainability disclosures decrease the cost of capital. However, companies also have the opportunity to reinforce this decrease (...) by providing an assurance statement, so increasing the credibility of corporate social responsibility information. In addition, the decrease in the cost of capital is significantly higher when such assurance is provided by a top-tier accountancy firm instead of by engineering or consultancy firms; this result supports also the reputational capital of accountancy firms. (shrink)

This study investigates how firms in the gambling industry manage their corporate social disclosures about controversial issues. We performed thematic content analysis of CSDs about responsible gambling, money laundering prevention and environmental protection in the annual reports and stand-alone CSR reports of four USA-based multinational gambling firms and their four Macao counterparts. This study draws on impression management theory, camouflage theory and corporate integrity theory to examine the gambling firms’ CSDs. We infer that the CSD strategies of gambling (...) firms in Macao and the USA did not serve as vehicles for reflexivity about social responsibility or social responsiveness. Instead, the firms camouflaged legitimacy gaps about sensitive topics by adopting assertive or defensive façades, disclaiming ethical responsibility, curtailing disclosure, or offering zero disclosure. Differences between CSD strategies according to topic, location, time, and reporting channel appear to reflect four factors: pressure to report, availability of good news, whether a firm was assuming ethical responsibility for addressing the topic, and the prospective readership. This study extends our understanding of the contextual and topic-specific factors affecting the quantity and character of CSDs by firms in a contested industry. (shrink)

The UNCED Earth Summit established two new principles of international justice: an equitable international order and protection of the environment. UNCED was a significant symbol, a morality play about environment and economics. Wealth is asymmetrically distributed; approximately one-fifth of the world (the G-7 nations) produces and consumes four-fifths of goods and services; four-fifths (the G-77 nations) get one-fifth. This distribution can be interpreted as both an earnings differential and as exploitation. Responses may require justice or charity, producing and (...) sharing. Natural and national resources come into tension with the common heritage of humankind, exemplified in disputes about. who owns biodiversity resources. Ethics has to learn planetary home economics. (shrink)

Introduction: Responsibility and choice -- The idea of moral responsibility -- Complex choice situations -- Differing types of responsibility -- Hans Jonas' idea of "caring for beings" -- The moral experience of women -- Criticizing rational choice -- The rational choice model 5 -- Bounded rationality -- Myopic and deficient choices -- Violations of the axioms -- Rational fools -- The strategic role of emotions -- Social norms -- The communitarian challenge -- Duty, self-interest, and love (...) -- Responsible decision making -- Norms, goals, and stakeholders -- Choice as problem solving -- Ethical norms -- Who are the stakeholders? -- Co-evolving goals and alternatives -- Responsibility and the diversity of choices -- Rationality and respect -- Deontology -- Choices people can make -- The psychology of choice -- Prospect theory -- The "matching law" -- Incommensurability -- Modeling responsible decision making -- What is a responsible decision? -- Deontological payoffs -- Goal-achievement values -- Payoffs for the stakeholders -- Evaluation from multiple perspectives -- The maximin rule -- A geometric representation -- The procedural model -- Real world cases -- Donna's case -- The Ford Pinto case -- The World Bank environmental policy -- Applications in economics and public policy -- Responsibility and social justice -- The paradox of a paretian liberal -- Res ponsible agency in prisoner's dilemma situations -- Multidimensional cost-benefit analysis -- Ethical and social performance of business -- Nature, society, and future generations -- Epilogue: The responsible person. (shrink)

With the current problems surrounding the unethical behaviour of companies and the growth in public awareness of environmental issues, it was inevitable that governments would introduce legislation covering sensible company obligations. This paper examines the issues surrounding legislation in corporate social responsibility and attempts to relate them to stakeholder management. In the long run, companies that take an active interest in such legislation will be in a particularly strong position to develop strong market positioning strategies.

High levels of specialization have created knowledge with little or no “peripheral vision,” and the resulting “blind spots” are causing many “collisions” with human life, society, and the biosphere. Each discipline and specialty must be equipped with a “map” showing its connections to everything else, but especially the negative consequences that tend to be associated with its practices. Preventively oriented practices can improve the ratio of desired to undesired effects of design and decision making to create ways of life that (...) are more sustainable across the board, as opposed to treating symptoms (such as global warming). This new approach has already fired the imagination of many students in engineering. (shrink)

This paper examines the rise of socially responsible investment (SRI) as a sustainable finance mechanism and discusses the potential of SRI to contribute toward a more socially responsible and environmentally sound model of commerce in the Asia-Pacific region. Using a case study approach, I argue in this paper that the potential of SRI to accelerate the private sector toward greater sustainability has been to date largely explored within the North American and European regional contexts and that the future global development (...) of SRI is likely to depend on whether and to what degree SRI becomes a viable financial instrument in industrialized (Japan) and emerging (Hong Kong/China) economies of the Asia-Pacific region. (shrink)

Ensuring that their work has a positive influence on society is a responsibility and a privilege for engineers, but also a considerable challenge. This book addresses the ways in which engineers meet this challenge, working from the assumption that for a project to be truly ethical both the undertaking itself and its implementation must be ethically sound. The contributors discuss varied topics from an international and interdisciplinary perspective, including: · robot ethics; · outer space; · international development; (...) · internet privacy and security; · green branding; · arms conversion; · green employment; and · deliberate misinformation about climate change Important questions are answered, such as: · what is meant by engineering ethics and its practical implications; · how decisions made by engineers in their working lives make an impact at the global as well as the local level; and · what ethics-related questions should be asked before making such decisions. Engineering Ethics, International and Environmental Stability will be a valuable resource for practising and student engineers as well as all who are interested in professional ethics, especially as it relates to engineering. Researchers and policy makers concerned with the effects of engineering decisions on environmental sustainability and international stability will find this book to be of special interest. (shrink)

We examine current practices in the development and communication of social and environmental reporting (SER) in the UK retail banks. Empirical data was triangulated between semi-structured interviews with bank executives, bank sustainability reports, and third-party sustainability entrepreneur initiatives (termed 'SEIs') to identify current practices and growth areas. We use social contract theory to examine how these social and environmental retail banks developed their SER practices. Our findings reveal that SER practices are crucial for pursuing more (...) positive social and environmental values. We clarify the role of SER as a form of integrated reporting (IR) to assess and improve the usefulness of the IR reporting practices. The SER practices also appear to have benefited from the presence of a number of SEIs in the sampled banks who specialise in commercialising social and environmental projects. In addition, methodical analyses of SER components assist managers and regulators in determining which components are meaningful to stakeholders. (shrink)