Download or read book Corporate Social Responsibility and Shareholder s Value written by Leonardo Becchetti and published by . This book was released on 2007-08 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Value Based Management with Corporate Social Responsibility written by John D. Martin and published by Oxford University Press. This book was released on 2009-08-19 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the first decade of the 21st century winds down we have seen a sea change in society's attitudes toward finance. The 1990s can best be described as the decade of shareholder supremacy, with each firm trying to outdo the other in their allegiance to shareholder value creation, or as it came to be known, Value-Based Management (VBM). No one seemed to question this culture as the rising firm valuations translated into vast wealth creation for so many. Three significant economic events have reshaped how the public feels about an unbridled devotion to VBM and have defined the last decade: the dot.com bubble in 2000, the infamous accounting scandals of 2001, and the collapse of the credit markets in 2007-2008. In all three of these events the CEOs were portrayed as reckless and greedy and Wall Street went from an object of admiration to an object of scorn. The first edition of this book, Value Based Management: The Corporate Response to the Shareholder Revolution was written to help explain the underpinnings of Value-Based Management. At the time of its publication, few questioned whether the concept was the proper thing to do. Instead, the debate was focused on how to implement a VBM program. With this new second edition, the authors look at VBM after having seen it through good times and bad. It is not their intent to play the blame game or point fingers. Nor is it their intent to provide an impassioned defense of VBM. Instead they provide an academic appraisal of VBM, where is has been, where it is now, and where they see it going.
Download or read book Encyclopedia of Corporate Social Responsibility written by Samuel O. Idowu and published by Springer. This book was released on 2013-01-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of Corporate Social Responsibility in the business world has developed from a fig leaf marketing front into an important aspect of corporate behavior over the past several years. Sustainable strategies are valued, desired and deployed more and more by relevant players in many industries all over the world. Both research and corporate practice therefore see CSR as a guiding principle for business success. The “Encyclopedia of Corporate Social Responsibility” has been conceived to assist researchers and practitioners to align business and societal objectives. All actors in the field will find reliable and up to date definitions and explanations of the key terms of CSR in this authoritative and comprehensive reference work. Leading experts from the global CSR community have contributed to make the “Encyclopedia of Corporate Social Responsibility” the definitive resource for this field of research and practice.
Download or read book Corporate Social Responsibility and Shareholder s Value written by Leonardo Becchetti and published by . This book was released on 2007 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Social Responsibility and Shareholder Value A Perfect Fit written by Anastazia Spajic and published by GRIN Verlag. This book was released on 2021-09-07 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2021 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of Applied Sciences Essen, language: English, abstract: In 1986, Rappaport published the book "Creating Shareholder Value", in which he described the shareholder value (SV) approach as a new standard for business performance. A quantitative, corporate ethical philosophy is addressed with the term "shareholder value", which has always been a matter of course for business investment theorists. Basically, shareholder value describes the mathematical maximization of the net present value of investments. This entrepreneurial approach was not viewed with skepticism on a global scale until the banking and financial crisis. An alternative approach was examined to overcome the banking and economic crisis. The corporate social responsibility (CSR) approach emerged, which was seen as a sustainable and pluralistic alternative. However, the CSR approach is viewed critically from a business perspective. It is questioned to what extent CSR actually influences on the economic success of a company. This will also be the subject of this essay. The aim is to show whether linking CSR and the SV approach creates a corporate strategy that generates monetary gains and represents a perfect fit.
Download or read book The Enlightened Shareholder Value Principle and Corporate Social Responsibility written by Taskin Iqbal and published by Routledge. This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical analysis of the impact of the concept of the Enlightened Shareholder Value principle on Corporate Social Responsibility and explores the scope for reform, analysing existing empirical research, presenting the findings of a study conducted to determine whether the concept of ESV is capable of promoting or assisting CSR.
Download or read book Firm Value written by Paolo Saona Hoffmann and published by BoD – Books on Demand. This book was released on 2018-08-01 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Enlightened Shareholder Value Principle and Corporate Social Responsibility written by Taskin Iqbal and published by Routledge. This book was released on 2021-07-07 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Enlightened Shareholder Value principle and Corporate Social Responsibility are areas of increasing academic and research interest. However, discussions on the ESV principle in relation to CSR are very limited. This book provides a critical analysis of the impact of the concept of ESV, embedded in the Companies Act 2006, on CSR and explores the scope for reform. Along with analysing existing empirical research, it presents the findings of an empirical study conducted to determine whether the concept of ESV is capable of promoting or assisting CSR. The book also examines whether implementing an ESV approach has had any impact on the CSR practices of multinational corporations that originate in the UK and operate in developing nations, as in order to assess whether the ESV principle links to CSR both its domestic and international impact need to be considered. This analysis was undertaken through the lens of a case study on the ready-made garment industry in Bangladesh, with some focus on the Rana Plaza factory disaster. This study also assists in demonstrating the changes that need to be made to improve the current situation. Lastly, the book addresses the need for reform in the area and provides possible suggestions for reform. This interdisciplinary book will be of great interest to students and scholars of corporate law, corporate governance and business studies in general as well as policymakers, NGOs and government departments in many countries around the world working in the fields of CSR, sustainability and global supply chains.
Download or read book Corporate Social Responsibility and Shareholder s Value written by Leonardo Becchetti and published by . This book was released on 2014 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Corporate Social Responsibility and Shareholder s Value written by Leonardo Becchetti and published by . This book was released on 2009 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Misguided Virtue written by David Henderson and published by . This book was released on 2001 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author argues that the doctrine of corporate social responsibility will damage prosperity in poor countries as well as rich.
Download or read book The Cambridge Handbook of Compliance written by Benjamin van Rooij and published by Cambridge University Press. This book was released on 2021-05-20 with total page 1559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compliance has become key to our contemporary markets, societies, and modes of governance across a variety of public and private domains. While this has stimulated a rich body of empirical and practical expertise on compliance, thus far, there has been no comprehensive understanding of what compliance is or how it influences various fields and sectors. The academic knowledge of compliance has remained siloed along different disciplinary domains, regulatory and legal spheres, and mechanisms and interventions. This handbook bridges these divides to provide the first one-stop overview of what compliance is, how we can best study it, and the core mechanisms that shape it. Written by leading experts, chapters offer perspectives from across law, regulatory studies, management science, criminology, economics, sociology, and psychology. This volume is the definitive and comprehensive account of compliance.
Download or read book The Shareholder Value Myth written by Lynn Stout and published by Berrett-Koehler Publishers. This book was released on 2012-05-07 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the trouble with shareholder value thinking and at better options for models of corporate purpose. Executives, investors, and the business press routinely chant the mantra that corporations are required to “maximize shareholder value.” In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest of us as well, leading managers to focus myopically on short-term earnings; discouraging investment and innovation; harming employees, customers, and communities; and causing companies to indulge in reckless, sociopathic, and irresponsible behaviors. And she looks at new models of corporate purpose that better serve the needs of investors, corporations, and society. “A must-read for managers, directors, and policymakers interested in getting America back in the business of creating real value for the long term.” —Constance E. Bagley, professor, Yale School of Management; president, Academy of Legal Studies in Business; and author of Managers and the Legal Environment and Winning Legally “A compelling call for radically changing the way business is done... The Shareholder Value Myth powerfully demonstrates both the dangers of the shareholder value rule and the falseness of its alleged legal necessity.” —Joel Bakan, professor, The University of British Columbia, and author of the book and film The Corporation “Lynn Stout has a keen mind, a sharp pen, and an unbending sense of fearlessness. Her book is a must-read for anyone interested in understanding the root causes of the current financial calamity.” —Jack Willoughby, senior editor, Barron’s “Lynn Stout offers a new vision of good corporate governance that serves investors, firms, and the American economy.” —Judy Samuelson, executive director, Business and Society Program, The Aspen Institute
Download or read book Leveraging Corporate Responsibility written by C. B. Bhattacharya and published by Cambridge University Press. This book was released on 2011-09-15 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how companies can maximize the value of their CR initiatives by fostering strong stakeholder relationships.
Download or read book Corporate Social Responsibility written by Subhabrata Bobby Banerjee and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has many merits. It will make fascinating reading for the increasing number of organizational scholars who wonder how organizational research can engage more in accounting for the impact of corporations on their environment in a broad sense. Bahar Ali Kazmi, Bernard Leca and Philippe Naccache, Organization Studies This book is for those who will enjoy a thoughtful and informative monograph that acutely summarises and refreshes critique from a political and sociological perspective. It is a comprehensive re-interpretation of the corporate world and the evidently meretricious regime of CSR which makes it an enjoyable compendium for critical management studies fans . . this erudite volume will be valuable to mainstream, social science academics either involved in (or dismissive of) CSR and sustainability discourses in management education and research. David Bevan, Scandinavian Journal of Management Banerjee s book is thought provoking and must be read. But it should be read not only by corporate social responsibility scholars but by all business scholars. It is through Banerjee s provocations that we can understand the shortcomings of corporate systems and the boundaries of corporate social responsibility. Pratima Bansal, Administrative Science Quarterly This is a tour de force that carefully assembles and incisively interrogates perhaps the most pressing problem of our age: how to harness the resources of corporations to tackle global problems of poverty, oppression and environmental degradation? Banerjee does not present us with glib pronouncements or simplistic fixes. Instead, he brilliantly illuminates the scale of the challenges and lucidly assesses the relevance and value of CSR responses to date. Hugh Willmott, University of Cardiff, UK Bobby Banerjee takes on the popular mythologies of neo-liberal corporate social responsibility with enviable flair and a thoroughness of scholarship that will dismay its apologists. His critique extends from the origins of the modern corporation and its well-known abuses and excesses to far harder targets the more attractive alternatives that have been developed for theory and practice that, as Banerjee shows brilliantly, only serve to mask continuing neo-colonial abuses. Banerjee is not content simply to expose the impossibilities of doing good works whilst maximizing shareholder value, the win-win view of CSR, but he bites the bullet with some uncompromising but realistic proposals for the future reconstruction of CSR both as a field of study and as a business practice. We have needed this exposure of the bad and the ugly for a long time. The current versions of CSR are simply just not good enough. Stephen Linstead, University of York, UK Banerjee pulls the beguiling mask off corporate social responsibility. Taking the vantage point of the world s poor, he shows CSR to be a cruel hoax corporations cynical effort to undermine growing demands for economic and environmental justice. Paul S. Adler, University of Southern California, US This book problematizes the win-win assumption underlying discourses of CSR and suggests that it is a rhetoric that is invariably subordinated to that of corporate rationality. Rather than see CSR as providing the means to transform corporations by advocating a stakeholder view of the firm it argues that CSR represents an ideological movement designed to consolidate the power of transnational corporations and provide a veneer of liberality to the illiberal economic agenda of the major global institutions. Stewart Clegg, University of Technology, Sydney, Australia Professor Banerjee offers us a refreshing analysis of corporate social responsibility (CSR) in an otherwise comparatively turgid literary landscape. People may disagree with his criticism that because of its preoccupation with shareholder value, the corporation is an inappropriate agent for social change but it is backed up by strong theoretical and substantive empirical
Download or read book Sustainable Value written by Chris Laszlo and published by Routledge. This book was released on 2017-09-08 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: A small but influential group of mainstream global industry leaders are now reinventing the role of business in society. They are shifting the focus away from minimizing negative impacts to offering new solutions to global problems that the public sector has been unable to tackle alone. In this new competitive environment, societal challenges such as climate change or the alleviation of global poverty are not only risks, but huge business opportunities, not only for niche players, but for mainstream business. These leaders are creating "Sustainable Value". They are creating it through the provision of value to both their shareholders and their stakeholders – an ever-growing list of diverse constituents impacted by the social, environmental, and financial performance of global business. In short, they are doing well by doing good. In this outstanding book, Chris Laszlo defines, illustrates, and shows how business can action 'Sustainable Value' in three profoundly different ways. First, a management fable looks at the experiences of a dynamic business leader as she grapples with the new business realities of managing stakeholder, as well as shareholder pressures. Second, with the real thing – inside stories from some of the largest corporations in the world that are successfully integrating sustainability into their core activities, not only from a sense of moral correctness, but because it makes good business sense. And, finally, with frameworks, tools, and methods that will make sustainable value creation concrete for business practitioners everywhere. This book is a masterful synthesis – part novel and part executive briefing – a refreshing kind of prophetic pragmatism, helping leaders anticipate and see the future in the context of the actual. In Sustainable Value Chris Laszlo speaks with resounding clarity to the living challenges, the real dilemmas, and haunting questions of CEOs everywhere.
Download or read book Evaluate the social responsibility of Ben Jerry s in a global economy written by Sebastian Kress and published by GRIN Verlag. This book was released on 2011-12-05 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2011 in the subject Business economics - Business Ethics, Corporate Ethics, grade: 1,8, Heriot-Watt University Edinburgh, language: English, abstract: The notion Corporate social responsibility (CSR) has provoked an extensive history of academic debate whether corporations have a social as well as financial responsibility to the community or not. The main conflict in this field has been associated with the evolution of the concept and the definition of CSR. Even though this concept has a long and varied history, which arose centuries ago, the formal writing on social responsibility, however, is mostly a product of the past 50 years. During that time, there have been many papers published by academics and business practitioners. Bowen (1953) marks the beginning of the modern period of literature and argued that centralised power of big corporations had influence on the lives of citizens, by company’s actions and decisions. Davis (1960) became famous because he emphasised the correlation between social responsibility and business power and justified socially responsible business decision in light of a good chance of bringing long-run prosperity to the corporation. In arguing against CSR, Milton Friedman (1970) seems to be widely accredited. In fact, he does not dispute the validity of CSR, but rather argues that when these activities are carried out for reasons of self-interest, then they are merely profit-maximization under the cloak of CSR. He set forth that the social responsibility of business is to increase their profits and its managers’ responsibility to act solely in the interest of its shareholders (maximising shareholders-value). This being said as a short introduction to the academic development of CSR, highlights that CSR is not at all common sense and therefore needs further theoretically examination. Besides these debates in the academic world, there has been also a development in practise. The business world offers numerous examples of companies not only focusing on short-term profit without considering social and environmental issues. There have been an increasing number of companies containing ethical and moral values in their corporate strategy and considering their society and environment as important factors towards a long-term success. Successful companies such as Body Shop, Stonyfield Farm or Ben & Jerry’s have been establishing strategies which main focus relies on Corporate Social Responsibility and appreciated CSR as a business driver. The aim of this paper is to critically evaluate social responsibility of business in a global economy.
