Putting a Price on Corporate Virtue

Putting a Price on Corporate Virtue
Author: Anastasia Giakoumelou
Publisher: EGEA spa
Total Pages: 174
Release: 2020-11-16T22:36:00+01:00
Genre: Business & Economics
ISBN: 8823819903

It has been a buzzword for decades and gained the title of a global megatrend. With many endorsing and others discrediting its importance, what are the real economics of corporate social responsibility? How do we measure sustainability in corporations and who does it benefit? Is any effort appreciated by the market and the public? Is CSR merely in fashion or does it have a concrete place in a quantitative science such as finance? These are some of the questions this book deals with. We discuss the shift from a shareholder-oriented business world towards a stakeholder-oriented system and explore how CSR fairs with the traditional financial theories and corporate law. A new view of CSR sees it as a means to reconciliate the conundrum “shareholders or stakeholders” and gives a paradigm that combines the two. Furthermore, we move past the current belief that investors inject capital into more sustainable corporations while sacrificing returns and investigate the role of sustainability in a firm’s risk profile. What if investors gain less out of responsible investments because they risk less? In the second part of the book, we test how real market actors respond to corporate social performance. We look into the potential of CSR to be incorporated in risk valuations as performed by credit rating agencies, the debt market’s investors and corporate management itself. What we discover is a complex but intriguing reality that offers bright new horizons for corporations worldwide.

Employee Engagement in Corporate Social Responsibility

Employee Engagement in Corporate Social Responsibility
Author: Debbie Haski-Leventhal
Publisher: SAGE
Total Pages: 238
Release: 2020-09-14
Genre: Business & Economics
ISBN: 1529738164

This book offers a remarkable collection of chapters, written by the leading scholars in CSR and employee engagement. Using the existing literature, new empirical studies, case studies and thought-provoking insights, this collection of authors discuss why and how to engage employees in CSR and through CSR. Employee engagement in Corporate Social Responsibility focuses on engaging employees in socially responsible initiatives with three major parts of the book: the antecedents that lead to employee engagement in CSR; the processes and opportunities to involve employees; and the impact of the above on employees, the company, non-profit organisations and society. This book contributes to both research and managerial practice by presenting cutting edge knowledge from leading CSR scholars and practitioners.

The Market for Virtue

The Market for Virtue
Author: David Vogel
Publisher: Brookings Institution Press
Total Pages: 246
Release: 2007-05-01
Genre: Business & Economics
ISBN: 0815790783

In the highly praised The Market for Virtue, David Vogel presents a clear, balanced analysis of the contemporary corporate social responsibility (CSR) movement in the United States and Europe. In this updated paperback edition, Vogel discusses recent CSR initiatives and responds to new developments in the CSR debate. He asserts that while the movement has achieved success in improving some labor, human rights, and environmental practices in developing countries, there are limits to improving corporate conduct without more extensive and effective government regulation. Put simply, Vogel believes that there is a market for virtue, but it is limited by the substantial costs of socially responsible business behavior. Praise for the cloth edition: "The definitive guide to what corporate social responsibility can and cannot accomplish in a modern capitalist economy."—Robert B. Reich, Brandeis University, and former U.S. Secretary of Labor "Vogel raises a number of excellent points on the present and future of CSR."—Working Knowledge, Harvard Business School "A useful corrective to the view that CSR alone is the full answer to social problems."—Business Ethics "The study combines sound logic with illustrative cases, and advances the sophistication of the CSR debate considerably." —John G. Ruggie, Harvard University, co-architect of UN Global Compact

Firm Value

Firm Value
Author: Paolo Saona Hoffmann
Publisher: BoD – Books on Demand
Total Pages: 151
Release: 2018-08-01
Genre: Business & Economics
ISBN: 1789234948

This edited volume aims to discuss the most contemporary state of the determinants of the firm value. This book presents theoretical works as well as empirical studies that contrast the arguments offered by the leading, ground-breaking theories on the firm value. What variables determine the firm value? Are these determinants controllable or uncontrollable by the managers of the companies? Is the impact of corporate governance systems on the firm value symmetrical between different institutional contexts? Do the financial reports affect the value of the firm? What role does corporate social responsibility play as a determinant of the firm value? These and other questions are analyzed and scrutinized step by step throughout this book.

Corporate Environmental Responsibility, Accounting and Corporate Finance in the EU

Corporate Environmental Responsibility, Accounting and Corporate Finance in the EU
Author: Panagiotis Dimitropoulos
Publisher: Springer Nature
Total Pages: 273
Release: 2021-04-08
Genre: Business & Economics
ISBN: 3030727734

The purpose of this book is to study the association of corporate environmental responsibility (CER) with financial performance, capital structure, innovative activities, corporate risk, working capital management and accounting quality. Undoubtedly, CER has been developed into a crucial corporate issue around the world. CER has been incorporated within various sectors, countries and includes many types of activities and dimensions. A fundamental issue that is addressed in this book, is how corporate finance and accounting are affected by CER activities and how it impacts company performance. In order to analyse this interrelation, the authors focus on a sample of firms from 28 EU member countries. The purpose of this book is to study the association of CER with financial performance, capital structure, innovative activities, corporate risk, working capital management and accounting quality. The book also intends to provide useful policy recommendations as well as to offer constructive impulses for future research.

Reframing Corporate Social Responsibility

Reframing Corporate Social Responsibility
Author: William Sun
Publisher: Emerald Group Publishing
Total Pages: 325
Release: 2010-12-13
Genre: Business & Economics
ISBN: 0857244558

This collection brings together leading scholarly thinking to understand why CSR failed to prevent the global financial crisis, how corporate social irresponsibility (CSI) contributed to the financial crisis, and how we may reframe CSR or improve CSR frameworks to help prevent or mitigate any future financial and economic crises.

Corporate Social Responsibility and Shareholder's Value

Corporate Social Responsibility and Shareholder's Value
Author: Leonardo Becchetti
Publisher:
Total Pages: 33
Release: 2007-08
Genre:
ISBN: 9781422312551

Corporate social respon. (CSR) is increasingly a core component of corp. strategy in the global economy. While corp. are busy adopting & enhancing CSR practices, there is no established empirical research on CSR¿s impact & relevance in the capital market. This paper investigates this issue by tracing the market reaction to corp. entry & exit from the Domini 400 Social Index, recognized as a CSR benchmark, between 1990 & 2004. There are 2 main findings: a significant upward trend in absolute value abnormal returns, irrespective of the type of event, & a significant negative effect on abnormal returns after exit announce. from the Domini index. The latter effect persists even after controlling for concurring financial distress shocks & stock market seasonality.

Corporate Social Responsibility, Ethics And Sustainable Prosperity

Corporate Social Responsibility, Ethics And Sustainable Prosperity
Author: Sabri Boubaker
Publisher: World Scientific
Total Pages: 501
Release: 2019-06-06
Genre: Business & Economics
ISBN: 9811206899

Corporate activities are not only drivers of economic growth but also key actors of the changes towards more sustainable markets and environment as well as inclusive development. Significant efforts have recently been devoted to transform private and public firms alike from pure economic-oriented organizations to entities that deliberately and diligently create value without neglecting social and environmental implications of their activities. Firm performance, resilience, and survival are nowadays, more than ever before, dependent on how they consciously and purposefully engage in appropriate corporate social responsibility (CSR) strategies and actions.This book, Corporate Social Responsibility, Ethics and Sustainable Prosperity, will provide all readers, including investors, managers, lawmakers, and policymakers with an up-to-date, comprehensive, and thoughtful coverage of CSR and ethical issues at the crossroads of different finance and management disciplines. It contains a rich collection of insightful studies covering a wide range of topics in corporate ethics, CSR, and sustainable prosperity. Together, these studies help readers deepen their knowledge on different country environments and various organizational forms, policies, and activities. The book is composed of 16 chapters which are divided into two interconnected parts: Part I addresses ESG and ethical issues in corporate decision-making, while Part II provides insights towards sustainable prosperity.

Corporate Social Responsibility and Shareholder's Value

Corporate Social Responsibility and Shareholder's Value
Author: Leonardo Becchetti
Publisher:
Total Pages: 53
Release: 2014
Genre:
ISBN:

In today's global economy, corporate social responsibility (CSR) is a core component of corporate strategy. Due in part to financial scandals, losses, and the diminished reputation of the affected listed companies, CRS is emerging as a crucial instrument for minimizing conflicts with stakeholders. While corporations are busy adopting and enhancing CSR practices, there is (beyond a very few notable exceptions) no established empirical research on its impact and relevance for the capital market. Our paper investigates this issue by tracing market reactions to corporate entry into and exit from the Domini 400 Social Index (a recognized CSR benchmark) between 1990 and 2004. Our paper highlights two main findings: i) a significant upward trend in absolute values of abnormal returns, irrespective of the event (entry/exit vis-a-vis the index) type; and ii) a significant negative effect on abnormal returns after announcement from the Domini index. The latter effect continues to persist even after controlling for concurring financial distress shocks and stock market seasonality.

Buried Treasure

Buried Treasure
Author: Caleb Wall
Publisher: Routledge
Total Pages: 191
Release: 2017-09-08
Genre: Business & Economics
ISBN: 1351279904

With business under unprecedented pressure from a range of stakeholders to engage in corporate social responsibility (CSR), those working in dirty industries, developing countries and the extractive sector are finding themselves exposed to great strategic risks. Many of these companies are endeavouring to practise CSR and sustainability, but lack the knowledge to do so convincingly. Much of what has been published to date tells companies they must "do" CSR, without explaining how best to implement CSR-related policies and why this is very much in the corporate interest. Buried Treasure sets out in a series of case studies from different industries around the world a clear demonstration of how it is possible to create "shared value" for companies, communities and other stakeholders by putting CSR at the core of the business model. In implementing CSR, companies need to look beyond philanthropy, delving deeper to find the "buried treasure" of shared value creation. This is much more than finding the simple "win–win" solutions. It is about companies engaging seriously in the challenges they face in their operations and finding competitive advantage from working with stakeholders to solve these common problems. This is not easy - but where companies have done it well they have found new corporate opportunities and enhanced brand value. Buried Treasure presents a series of steps, each accompanied by an in-depth case study, to demonstrate how different companies have managed to uncover the value of CSR. They include: Anglo-American's "Zimele" programme of enterprise development in its coal and platinum mining areas in South Africa; Montana Exploradora, showing how community co-monitoring of the environment has helped build trust for a gold mine in Guatemala; Gildan, a leading sportswear manufacturer, demonstrating how garment manufacture in Honduras created meaningful local opportunities; Scandic Hotels, which has used environmental stewardship and "omtanke" to create comparative advantage in a competitive industry; and Turner Broadcasting, using corporate core competences in partnership with an NGO to leverage staff skills, enhancing public perception and staff retention. This short and accessible book will be an invaluable aid to managers and students searching for clear proof of the advantages of corporate social responsibility for business and its many stakeholders and for guidance in how to action best-practice policies.