Differences across Clusters

As we indicate in Table 12.7, we find significant differences across the different clusters in terms of the organizations' age and number of employees. Organizations in the fourth cluster are significantly older - 50.7 of them were established more than 30 years ago, and only 17.4 were established less than 10 years ago. In comparison, 25.5 or more of the organizations in the other clusters had been established less than 10 years ago. In addition, the fourth cluster...

How Do Firms Credibly Demonstrate CSR

Overall, three broad types of CSR activities are examined below. We focus on the three broad sectors business, government, and civil society, and discuss their leadership in various CSR initiatives. Sprint Nextel and Motorola Telecommunications AIDS in Africa Philip morale Great Plains Energy Inc. Utility Pledged to donate 17 from the sale of each RED MOTORAZR V3m phone to the (RED) campaign PM21. a program which - among other things -worked to improve morale by reshaping the company's image...

CSR and External Outreach

Financial Analysts and Institutional Investors. Over the last decade, socially responsible investing has grown exponentially in the US (Social Investment Forum, 2006). According to the Social Investment Forum, as of 2005 almost 1 in every 10 dollars under professional management was involved in socially responsible investing. Calvert is one of the nation's largest socially responsible mutual fund firms with approximately 14 billion in assets under management. Companies participate in CSR to...

Why CSR Moving beyond the Business Case

CSR discussions in America have been traditionally and predominantly focused on the financial returns of CSR initiatives. While three decades of research suggests no clear-cut answer on a direct and unassailable link between profitability and CSR initiatives (Griffin, 1997 Margolis, 2001 Orlitzsky et al., 2003 Barnett, 2007), the range of corporate CSR initiatives continues to expand and penetrate deeper into organizational routines (Bies et al., 2007 Fort, 2007). The business case for the CSR...

Leverage

The agency theory suggests that companies with high corporate leverage (high debt to equity ratio) are regularly associated with increased contracting cost including liquidity and bankruptcy cost. For example, debt contracts could impose liquidity tests, unscheduled audit, investment restrictions, and sinking-fund requirement, in addition to establishing the pre-emptive claims of debt holders in the event of bankruptcy (Booth 1992). Creditors, including debt holders and those individuals and...

The Environment

Pollution in China is amongst the worst in the world. Air pollution continues to damage health, at least a third of all water resources are severely polluted, energy use is highly inefficient, desertification continues and biodiversity loss is alarming (Liu and Diamond 2005). China is building a new coal-fired power station every 12 days. In 2006, alone it added 70,000 megawatts of new power generation. The pollution, energy, water and material intensities of the Chinese economy remain high....

Greece A Comparative Study of CSR Reports

Panayiotou, Konstantinos G. Aravossis, and Peggy Moschou Abstract The last few decades have witnessed an increase in the awareness on the part of corporate entities in Western democracies that they are morally obliged to give something back to the society. To demonstrate that they care about people and the environment they operate in, organizations have taken different courses of action. The corporate social responsibility (CSR) reports which are annually published, in addition to...

The Arrival of CSR in Sweden

Although CSR has come into vogue during the last decade, the notion that businesses should behave responsibly has a long historical root (Carroll 1999 Carroll 2004 De Bakker et al. 2005 Windell 2006). Indeed, in broad terms, the topic of social responsibility of business has a long root in Swedish society. The emergence of the industrial community in Sweden between the mid-seventeenth century and the mid-nineteenth century was a period in which Swedish corporations played a prominent role in...

References

Regulating business the emergence of an economic crime control programme in Finland. Selected Proceedings of the British Criminology Conference Vol. 4, Leicester, July 2000. Brady, J. 2002. Corruption in Finland - nearly none at all. Virtual Finland. September 2002. Broadhurst, A.I. 2000. Corporations and the ethics of social responsibility an emerging regime of expansion and compliance. Business Ethics A European Review Vol. 9, No. 2. Blackwell Publishers Ltd.,...

Corporate Responsibility from a Companys Perspective and Some CSR Practices in Germany

Although the theory discussed in the earlier sections of this chapter drew a distinction between corporate sustainability and corporate social responsibility, for corporate practice in Germany, the difference - as also seen elsewhere - appears irrelevant (Loew and Braun 2006). Companies talk either about CS or CSR, often using these terms interchangeably. There are of course differences in interpretations, and this state of affairs is also seen in Germany. Some companies see their role in...

Sustainability in German Companies The Changing Role of Business in Society

For many years, the prevailing outlook on the role of business in society could be summarized with the following words of Milton Friedman there is one and only one social responsibility of business - ( ) to increase its profits (Friedman 1970). At the beginning of the twenty-first century, the main objective of an enterprise still revolves around the bottom line. There are, however, broader aspects that businesses now have to consider. The changing context within which companies operate, shaped...

The Role of Local Authorities becomes More Significant

Changes that have occurred in the French administrative landscape as a result of decentralization legislation and State regional development policies and in 14 In terms of demand, and not of offers present in France. conjunction with regional and structural European policies have in turn altered local actor networks and relations between local authorities and other economic and social actors. At the same time, local authorities confirm that they too want to promote SD in their areas. The vital...

The Recent Emergence of Responsible Savings and Changes that are Tending to Follow the Anglo American Model

Socially responsible investment (SRI) has developed in France rather later than in Anglo-American countries. The first mutual fund, Faim et Developpement (Hunger and Development) dates back to the beginning of the 1980s and was on the initiative of the Comite Catholique contre la Faim (CCFD Catholic Committee against Hunger) together with a banking sector cooperative in the shape of the Credit Cooperatif. At the same time, the first common ethical investment fund was born, initiated by a...

When CSR becomes a Constraint Target and Entrant Companies

Many French companies are slowly taking sustainable development into account simply because they have no choice. Rather later than other companies, they are gradually integrating it into their strategic position, and for the larger companies at least, it is now difficult to avoid. Under this heading are, first of all, companies that to some extent constitute ideal targets in relation to environmental and social issues. Sustainable development can become a real constraint that companies must...

The Lexical Ambiguity of the Expression Corporate Social Responsibility

In fact, the term social in the expression corporate social responsibility poses a lexical and conceptual problem in French. The word social as used in the expression in English is commonly translated into French using the same word, whereas in fact social in French has a more restricted meaning, as it is limited for the most part to the social dimension of sustainable development. Thus the three dimensions inherent to this notion, economic efficiency, social equity, and control of resources,...

The Future of CSR in the UK

The field of CSR has a long history in the UK several entities - the government, companies, charities, NGOs etc. - appear to have embraced the concept and all that it stands for, and there is considerable activity to promote CSR and to facilitate its growth from strength to strength both in the UK and across the world. The UK is a world-acknowledged leader of the field. The question that this section of Chap. 1 Table 1.5 Differences in companies' reporting practices Table 1.5 Differences in...

Exploring the Contents of CSR Reports of UK Companies

The last few years have seen an increasing number of UK companies reporting on their CSR activities by issuing annual CSR reports either on a standalone basis or embedding the report in their annual reports. In 2002 a MORI (Market and Opinion Research International) survey notes that in the UK 61 of small and medium sized companies were either involved a great deal or a fair amount in local community matters (DTI 2002). Maignon and Ralston (2002) and Chambers et al. (2003) have both noted an...

Global Practices of CSR in Context

Idowu and Walter Leal Filho Events around the world over the last few decades have emphasised the need for corporate entities, their stakeholders, governments and international organizations to take the issue of corporate social responsibility seriously. Incidents such as the explosion at Union Carbide in Bhopal, India in 1984, the oil spillage at Prince William Sound, Alaska USA in 1989, a few corporate scandals for example the Mirror Group UK 1991, Bank of Credit and Commerce...

CSR Reporting

Companies have realized that they need to respond to the stakeholders not only by changing their practices, but also by reporting on what kind of actions they take in terms of their corporate social responsibility. Over the last years, we have noticed an increasing number of companies that make some efforts in CSR reporting. Also, in Belgium, the emphasis on CSR reporting has increased in the last 5 years, especially in the larger firms. In this section, we will address how CSR is reported by...

Investor Awareness

A significant component of the business strategy for any publicly traded multinational corporation is not only the ability to sell their product, but also the ability to sell their stock. Green or socially responsible investing (SRI) focuses on portfolios consisting only of companies which have been evaluated as having sustainable practices. SRI has yet to gain enough momentum in the investment market to force an overhaul in corporate behavior by itself, making up less than 10 of mutual funds...

Finnish Culture and CSR

Interestingly, some distinct aspects of Finnish culture also influence the views and management of CSR. From roadmapping study Theme 1 , some similar concepts with CSR are reflective of the Finnish culture and attitude. The assumption that CSR has long been a part of the Finnish culture and business practices is very strong. Hence most CSR principles are, not surprisingly, often taken for granted because it is a self-evident mindset for the Finns. Strongly put, CSR thinking has been in Finland...

Russia Corporate Social Disclosures

Ataur Rahman Belal amp Vasily Lubinin Abstract This chapter aims to expand the existing CSD literature by providing insights from current Russian CSD practice, which is believed to be an under researched area. The main objective here is to examine the extent of CSD in Russia. For this purpose content analysis of 2004 annual reports of 20 large companies which are listed on the Russian stock exchange was undertaken. The key findings show that 18 90 out of the 20 companies included in the study...

Egypt Social Responsibility Disclosure Practices

Abstract This paper offers updated evidence on social disclosure trends in Egypt. It examines whether Egyptian companies care about the community as an important stakeholder in their Internet social reporting. In doing so, the paper employs content analysis to measure and explore the social responsibility self-disclosure practices of major Egyptian companies in their online annual reports and or Websites. The analysis shows that although there are good examples of corporate social...

List of Contributors

Aravossis is a Lecturer in the School of Mechanical Engineering in Section of Industrial Management and Operational Research, NTU Athens. He has completed many scientific projects and publications in his research interest areas and was president of the Greek Association of Environmental Protection Companies 2001-2006 . His academic interests are Environmental Management, Environmental Economics, Investment Assessment, and Technology Economics. Dr S. Burak Arzova is an...

Obstacles to CSR in China

The vast majority of CSR initiatives taking place in China are being done by the leading Western brands sourcing from supply chains there. It is clear that most domestic companies have limited awareness of what CSR is or of the external drivers that are pushing CSR along supply chains. Although they are often faced with codes of conduct from customers they often tend to see these as a nuisance and regard them as no more than an instrument of compliance. Local managers and owners often do not...

CSR in the Supply Chain

Another important aspect of the CSR roadmap was the implementation of CSR policies and strategies in the supply chain. This was the focus of Theme 3, highlighting a good case of proactive and progressive CSR management in the supply chain. On the basis of the experience, it was positively acknowledged that implementing CSR policies and strategies in the supply chain is favorable although associated with some problems and challenges. For this theme, experiences of five companies are presented...

Chapter Belgium

Celine Louche, Luc Van Liedekerke, Patricia Everaert, Dirk LeRoy, Ans Rossy and Marie d'Huart Abstract Corporate Social Responsibility is a relatively recent concept in Belgium but there has been a significant increase in its awareness since 1995. In May 1997, a legal framework for sustainable development was set up in the country. In April 2006, the government adopted a Reference Framework for CSR which was followed in 2007 by the CSR action plan. In addition to governmental initiatives, the...

CSR Roadmap in Finnish Companies

Csr Roadmap

This section gives a general picture or roadmap of CSR as it is defined, managed, and practiced in selected Finnish companies. The derived roadmap did not give an exact definition of CSR, but instead reveals various concepts ascribed to be a part of, if not actually CSR Table 4.1 . Despite the variations, some generally favored conceptual connotations of CSR relate to compliance with laws and regulations, integral to all operations of a company, hinged on environmental responsibilities,...

HM the Clothing Retail Company

H amp M is a clothing company with 60,000 employees and is active in 28 countries around the world. H amp M does not own any factories, but production processes of their clothing involve about 2,000 factories with more than 700,000 employees. H amp M is actively creating an image for themselves as a responsible company, and they present their products using the label CSR. It has chosen to use CSR instead of other similar labels and concepts, such as sustainability and corporate citizenship,...

Malaysian Scenario

Traditionally, the main concern of Malaysian businesses is to make profit. Their main objective is to serve the shareholders by maximizing the shareholders wealth. To achieve this they exercise whatever means and ways they can for as long as they are within the ambit of the law. In the last several decades, companies are forced to reconsider their objectives. This is in response to issues such as the oil crisis, environmental degradation, human rights, labor issues, and natural disasters....

Adult consumers at Retail Stores

As observed in Table 13.6, 243 adult consumers were interviewed, only 19 out of the total claimed to know the concept of corporate social responsibility, but 28 of them are unaware of corporations with social responsibility activities. Seventy percent out of the adult consumers claimed to know the concept but are unsure of corporate social responsibility programmes. Table 13.7 shows that only 48 of the adult consumers know the concept and would prefer to buy products from corporations, which...

SCR Survey

After the researchers had identified CSR programmes in Mexico, they were interested in knowing Mexican-consumers' perceptions these programmes. For that reason, an interviewee-administered questionnaire was developed for analyzing the consumers' perceptions. The questionnaire was made up of eight questions divided on three categories, see Appendix. The first part aims at collecting information about interviewers' knowledge of CSR in Mexico. The second part asks about interviewees' support of...

The Role of UK Governments Since the s

Organisation Chart Lafarge

UK governments have been involved in different aspects of the field of CSR either directly or indirectly. Moon 2004 notes that the two ostensibly very different governments of Thatcher Conservative, 1979-1991 and Blair Labour 19972007 have helped the growth and institutionalization of CSR in the UK. Idowu and Towler 2004 argue that initially it was the rights of employees that were first recognized as needing government attention. Acts of Parliament have been passed including the Equal Pay Act...

CSR Survey

13.3.3.1 Professors at the University of Sonora Eighty-nine professors at the University of Sonora were surveyed, only 36 out of the total claimed to understand the concept of social corporate responsibility Table 13.2 SCR information access through corporations' websites identified on TV Table 13.2 SCR information access through corporations' websites identified on TV Corporations with Social Responsibility Identified on TV Other countries awarded corporations Awarded corporations defining a...

Sample Specification

In order to carry out this study, the 2003 and 2005 annual reports were obtained for the sample from Public Listed Companies of the Main Board of Bursa Malaysia. The 2003 sample consisted of companies with year-end between January 1, 2003 and December 31, 2003. Similarly, the 2005 sample consisted of companies with year-end between January 1,2005 and December 31, 2005. The annual reports were downloaded primarily from the Bursa Malaysia Website.4 Table 10.2 Description of the sampling...

Studies in Value Relevance

Accounting numbers are defined as value relevant if they have a predicted association with equity market values. One way in which accounting numbers can be assessed is to see how they relate to stock returns. Accounting numbers that update the market's beliefs will generate a change in returns. The technique for measuring the market impact of accounting numbers was developed primarily by Ball and Brown 1968 and was called the Abnormal Performance Index. Basically, there are three objectives of...

Disclosing Companies Examples of Good Practice OTHs Internet Disclosures

Social disclosures were noticed in only one occasion in the 2006's online corporate annual report under Corporate Social Responsibility section Stemming from its belief of its role in society, Masrawy.com proudly declares its sole and exclusive online responsibility towards the Children Risk Program initiated by Cilantro Nahdet El Mahrousa. Masrawy.com is taking the responsibility of spreading online awareness of the program through covering all issues of concern related to the problem of...

Turkey Civil Society Practices

Abstract This chapter discusses the evolution of the concept and practice of CSR in Turkey. It addresses the political, economic and social developments of CSR from Turkish's perspective. It provides an overview on the roles of public and private sector organizations and non-governmental organizations NGOs as well as the way in which Turkish culture in terms of philanthropy compliments the practice of CSR. The chapter also provides some concrete examples of the practice of CSR in corporate...

Conceptual Papers On Ethics N Corporate Social Responsibility

Bloom, P.N. and Gundlach, G.T. 2001 , Handbook of Marketing and Society, Thousand Oaks, CA, Sage. Carroll, A.B. 1991 , The pyramid of corporate social responsibility towards the moral management of organizational stakeholders, Business Horizons, Vol. 34, No. 4, pp. 39-48. Carroll, A.B. 1999 , Corporate social responsibility evolution of a definitional construct, Business and Society, Vol. 38, No. 3, pp. 268-295. Carroll, A.B. and Buchholtz, A.K. 2003 , Business and Society Ethics and...