...Berkeley Journal of International Law Volume 26 | Issue 2 Article 5 2008 Corporate Governance as Social Responsibility: A Research Agenda Amiram Gill Recommended Citation Amiram Gill, Corporate Governance as Social Responsibility: A Research Agenda, 26 Berkeley J. Int'l Law. 452 (2008). Available at: http://scholarship.law.berkeley.edu/bjil/vol26/iss2/5 This Article is brought to you for free and open access by the Law Journals and Related Materials at Berkeley Law Scholarship Repository. It has been accepted for inclusion in Berkeley Journal of International Law by an authorized administrator of Berkeley Law Scholarship Repository. For more information, please contact jcera@law.berkeley.edu. Gill: Corporate Governance as Social Responsibility: A Research Agenda Corporate Governance as Social Responsibility: A Research Agenda By Amiram Gill* In the post-Enron years, corporate governance has shifted from its traditional focus on agency conflicts to address issues of ethics, accountability, transparency,and disclosure. Moreover, corporate social responsibility (CSR) has increasinglyfocused on corporate governance as a vehicle for incorporating social and environmental concerns into the business decision-making process, benefiting not only financial investors but also employees, consumers, and communities. Currently, corporate governance is being linked more and more with business practices and public policies that are stakeholder-friendly. This ...
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...FUSION OF CORPORATE GOVERNANCE & CSR PRACTICES BUSINESS ETHICS AND CORPORATE GOVERNANCE Submitted to: Prof. I Sridhar Submitted by: Dhvani Shah (64689) FSB II TABLE OF CONTENTS TOPIC | Pg No. | Introduction | 3 | Concepts | 6 | Conceptual Discussion | 10 | Implementation of CG & CSR in corporate | 18 | CSR/CG framework | 21 | Bibliography | 30 | I. INTRODUCTION: CSR is concerned with the impacts that the activities of an organization have on the social, environmental and economic environment in which it operates. CG is concerned with the manner in which the senior management or Board of Directors direct, manage and control the organization and relate to shareholders. The concepts cannot be mutually exclusive but merge together, each offering a different yet complementary perspective on the activities of an organization, to form a robust strategic business management tool. The aim of the CSR and CG management system is to define, understand and improve the balance between entrepreneurship and ethical practice. Organizations must demonstrate this core organizational...
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...Executive Summary This report examines interests of each role in social members and evaluates power relations in society, which covers government, corporations and civil society. Research method is covered a literature review which is based on quality academic journal articles, texts and research institutes’ materials. The report clarifies each member’s interaction and its power residents. This power resident and relationship can be reformed through social agenda setting. There is possibility that power-balanced society in capitalism can be diminished through its change into neoliberalism agenda. This is examined through reviewing Japan’s development in last couple of decade. Contents Table 1.0 introduction..............................................................................................3 2.0 Role and power resident.........................................................................3 2.1 The role and power resident of Government.....................................................3 2.2 The role and power resident of Corporations....................................................4 2.3 The role and power resident of Citizens...........................................................5 3.0 An Interaction of Government, Corporations and Citizens…………6 4.0 Character of social context (capitalism, neoliberalism)…………....7 4.1 A power interaction in Capitalism...................................................................7...
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...Manual Corporate Governance SCGOP Contents Foreword 3 1 The mission of the Foundation for Corporate Governance Research for Pension Funds and the purpose of this manual 5 2 Corporate governance in practice in the Netherlands 7 3 Basic principles of corporate governance 11 4 Corporate governance and performance 14 5 Institutional investors and corporate governance 16 6 Formulation of a voting policy 19 7 2 The exercise of voting rights 23 8 Reporting on the implementation of the voting policy and voting behaviour 26 9 Pension fund governance 27 10 Socially responsible investing 28 11 About SCGOP 30 Appendix: Recommendations on Executive Remuneration 32 Foreword Pension funds strive to protect the benefits of their members as effectively as possible from the consequences of inflation. They therefore invest part of their assets in shares. But the accounting scandals over the past few years have severely damaged investors’ confidence in shares. Rebuilding this trust is now a high priority everywhere. Pension funds and other institutional investors are expected to contribute to this rebuilding process. In the Dutch Corporate Governance Code presented by the Tabaksblat Committee on 9 December 2003, the role of the shareholders is described as follows: "The general meeting of shareholders should be able to exert such influence on the policy of the executive board and...
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...Strengthening Corporate Governance to Combat Corruption ‘I call on member countries to work urgently with us to address major corporate governance failures. This will be a vital step to reinforcing market integrity.’ - Angel Gurría, Secretary-General, Organisation for Economic Co-operation and Development (OECD). The collapse of global financial markets in September 2008 has ignited a debate on what caused their quick undoing. As captured in the comments of the OECD Secretary-General, there is a growing sentiment that poor corporate governance is one of the forces to blame. It allowed the transparency, accountability and integrity of companies to be compromised and for abuses to go unchecked, particularly on matters of corruption. w w w. t r a n s p a r e n c y . o r g Table of Contents 1. 2. 3. Why is corporate governance critical? What is covered by corporate governance? Aligning corporate governance and anticorruption 4. 5. Recent reform efforts Moving the agenda forward Strengthening corporate governance to combat corruption What is Corporate Governance? For TI, corporate governance is understood to mean the “procedures and processes for how private sector organisations are directed, managed 4 and controlled”. This includes the relationships between, responsibilities of and legitimate expectations among different stakeholders (Board of Directors, management, shareholders, and other interested groups). Laws and regulations provide the framework on which corporate governance...
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...COURSE: CORPORATE GOVERNANCE QUESTION: RELEVANCE OF CORPORATE GOVERNANCE TO A MODERN COMPANY SUBMITTED TO: DR. ONGORO LIST OF ACRONYMS: OECD: Organization for Economic Co-operation and Development QUESTION: DISCUSS THE RELEVANCE OF CORPORATE GOVERNANCE TO THE MODERN COMPANY INTRODUCTION Corporate governance has reached centre-stage in the global agenda. The principles and codes evolved in several countries have furthered the cause of efficiency, transparency and equity particularly in the interest of the shareholders. Sustainable shareholder value has become the mantra for corporate immortality translating eventually into welfare of the society. Corporate governance is based on the relationship between agents and principals (agency theory). Agency theory explains how best the relationship between agents and principals can be tapped for purposes of governing a corporation to realize its goals. The owners of capital (shareholders) are the principals while the agents are the managers. The principals select and put in place both governors (directors) and auditors and ensure effective governance system is implemented whereas the managers are responsible for the day to day operations. Therefore corporate governance involves the way in which the boards oversee the running of a company by its managers and how board members are in turn accountable to shareholders and the company. DEFINITIONS OF CORPORATE GOVERNANCE ...
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...FACCT604A Monitor Corporate Governance Activities Research Project Semester 1 2007 Introduction The Directors of Expand P/L are about to make the transition from a large company to a public one. They are aware of recent developments in corporate governance and directors liabilities. They have asked you to provide advice on corporate governance aspects and to act as a consultant during the period of transition. You decide to use the corporate governance toolkit as the basis for your research. a) Overview: 1. What are the basic principles of corporate governance? • Transparency: Are the board telling us what is going on? • Accountability: Is the board taking responsibility? • Corporate Control: Is the board doing the right thing? 2. What mechanisms are suggested by the ASX corporate Governance Council? Relating to the three principles stated in the last question. The ASX Corporate Governance Council translates the elements into mechanisms: • Is the board telling us what is going on? →forming an environment to take risk. • Is the board taking responsibility? →clarifying the role of the board and management. • Is the board doing the right thing? →Meeting information needs of investment communities. 3. What is an SME? SME stands for Small and Medium Enterprises. 4. What processes would you expect to find in a company relating to risk management and compliance...
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...Chapter 2 Corporate Social Responsibility, Corporate Governance and Corporate Regulation 2.1 Introduction CSR is increasingly an essential issue for companies.1 It is a complex and multidimensional organisational phenomenon that is understood as the scope for which, and the ways in which, an organisation is consciously responsible for its actions and non-actions and their impact on its stakeholders. It represents not just a change to the commercial setting in which individual companies operates, but also a pragmatic response of a company to its consumers and society.2 It is increasingly being understood as a means by which companies may endeavour to achieve a balance between their efforts to generate profits and the societies that they impact in these efforts.3 This chapter discusses these issues. First, it describes CSR and its core principles. Second, it describes CG and narrates CG’s convergence with CSR. Third, it highlights how different economies are incorporating CSR notions in their corporate regulation. 1 Jeremy Moon and David Vogel, ‘Corporate Social Responsibility, Government, and Civil Society’ in Andrew Crane et al. (eds), Oxford Handbook of Corporate Social Responsibility (2008) 303; David Vogel, The Market for Virtue: The Potential and Limits of Corporate Social Responsibility (2005); Nada K Kakabadse, Cecile Rozuel and Linda Lee-Davies, ‘Corporate Social Responsibility and Stakeholder Approach: A Conceptual Review’ (2005) 1(4) International ...
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...In today’s world organizations are having trouble to maintain long term sustainability. Corporate Social Responsibility is most vital component which helps organizations to benefit themselves while also benefiting the society. CSR is an internal built in process by which organizations manage business process and make efficient use of the resources. It helps to balance the business in terms of economics and social goals. It monitors all business processes. Corporate Social Responsibility by definition, as given by Baker (2004) is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. In this essay I would like to discuss about various Corporate Social Responsibilities policies incorporated by Infosys Limited, India. Infosys is multinational provider of business consulting, technology, engineering, and outsourcing services. Corporate Governance and Shareholders Corporate governance is now focusing on creating a value for shareholder. The shareholders delegate decision making authority to the managers assuming that the managers will take actions which will best suite the shareholders interest. The core objective of corporate governance is to maintain long term relationship with shareholders. A good corporate governance is implemented to ensure: (i) independent and proactive board (ii) independent committee...
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...Companies use Corporate Advertising to increase awareness of Corporate Social Responsibility Therefore Increasing Profitability Erika Jean-Pierre Saint Leo University Abstract This review of literature will explore seven peer reviewed articles that report on results from research conducted on how companies use corporate advertising to increase awareness of corporate social responsibility thus increasing profitability. More specifically focusing on the advantages of corporate social responsibility and the positive benefits in profitability. This review of literature will incorporate various companies and industries from coffee, grocery, amusement parks, cars, oil production, alcohol, and casinos. It will analyze how corporate communication of corporate social responsibility enhances market share and drive increased profits. Companies use Corporate Advertising to increase awareness of Corporate Social Responsibility Therefore Increasing Profitability Numerous studies have been conducted on corporate advertising to increase awareness of corporate social responsibility and increased profitability for business. Companies use corporate advertising to strengthen their identities and create a favorable mental picture in consumer’s mindset. On average, companies spend millions of dollars each year in their marketing budgets toward corporate advertising. With corporate advertising, companies are not necessarily looking to sell a product or service, but rather the...
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... 2 contents Introduction The age of integration: a new dawn for corporate reporting Panel of judges Entrants Shortlisted reports ACCA MaSRA 2011 winners Judges’ feedback Supporting organisations About ACCA 4 6 11 12 14 17 25 28 31 ACKnoWleDgement ACCA would like to thank and acknowledge the contribution and support of the distinguished panel of judges, AccountAbility, Bursa Malaysia Berhad, CorporateRegister.com, The Department of Environment (DOE), The Edge Business Weekly, The Edge Financial Daily and last but not least all participating companies in the Awards. We believe that the participating companies deserve recognition for leading the way to identify and communicate their environmental and social performance. Companies such as these are contributing towards the advancement of sustainable development and performance. 3 introduction Welcome to the ACCA report of the Judges for the malaysia sustainability reporting Awards (masrA) 2011. ACCA and our supporting partners for the masrA 2011 would like to thank all the companies that participated this year. Since the last ACCA MaSRA, the world of corporate social responsibility and sustainability reporting has been undergoing tremendous change. This is reflected in the various developments on the international and local front. Nationally, Bursa Malaysia remains a key driver of sustainability reporting for corporate Malaysia. Following the development of the CSR framework in 2006, Bursa...
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...Introduction Britain may be regarded as at the leading position since the 17th century to the significance of its system of banking, and still remains among the financial centers of the world. The banking sector of UK focuses around five prominent global corporations i.e. Barclays, Lloyds, RBS and HSBC. These are the corporations who were able to reorganize early, in support of demutualization movement started in the mid 1980s. In addition to this, the institutes of United Kingdom are emphasized on outreach activities like retail or banking lending to SMEs. Some posses diversified based on the model of universal banking. Foreign banks, involving U.S. banks are also sturdily present in the business of investment banking or asset management. Prominent banks of UK including RBS, Barclays and HSBC were other highly developed abroad involving through acquisitions. This paper aims in discussing on the policies and strategies of Barclay’s Bank related to management theory. Discussion Barclays is a group that is included in providing financial and economic services. In addition to this, the Barclay group place particular emphasis on the investment management and various areas of banking within the United Kingdom. The Barclays Bank has its operation throughout the world that involves Africa, USA and Asia. The Barclays bank attained fourth position in the United Kingdom. It presently provides work for almost seventy eight thousand employees and holds most of the stocks in the industry...
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...characteristics on corporate social responsibility disclosure by Islamic banks: evidence from Gulf Cooperation Council countries Abdullah Awadh Bukair and Azhar Abdul Rahman Abstract Corporate social activities have become major subjects because of their effects on the quality life of citizens, in particular, and on the society at large. Therefore, today, there is an increase awareness of social responsibility due to the challenges meeting the financial institutions (particularly, Islamic banking) around the world. This paper examines the influence of the board of directors’ characteristics, consisting of board size, board composition, and the separation roles of CEO and chairman, on corporate social responsibility (CSR) disclosure in 53 annual reports of Islamic banks of Gulf Cooperation Council (GCC) countries after controlling of bank size, financial performance and relevant public. Based on the framework of legitimacy theory, the findings show that CSR disclosure has a negative and insignificant relationship with board composition. On contrast, the study found insignificantly and positive association between CSR disclosure and other characteristics of board of directors (board size and the separation roles of CEO and chairman). With regards control variables, the study indicates that bank size and financial performance have a positive and significant influence on CSR disclosure, while relevant public has no effect. Therefore, the results indicate that corporate governance structure...
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...activities. Corporate social responsibility in the past is considered as unwanted activities which are imposed on business by law and governing bodies as unnecessary burden which is against the basic principle of profit making for the business organizations. Business organizations have been considered as bodies that meet the demand of the consumers by supplying their goods and services, and have the responsibility for generating wealth and employment opportunities. (Mette Morsing & Carmen Thyssen, 2003) In recent times after the increase in concern about the ecological imbalances and the impact of business on the environment, this above view is however changing and more and more entities are taking corporate social responsibility activities and few of them are also able to align their business goals in order to generate profits. The modern business also debates over the business responsibility towards the Shareholder’s and owners versus Stakeholders (employees, consumers, suppliers and shareholders) in the present day scenario. After taking the consideration of responsibility towards stakeholders, businesses are coming closer to the society and are altering the function of business organizations taking into considerations the business’ wider role. The wider role define above is coming into many areas such as for the social order and environment, beyond financial performance, and alignment of business responsibility in a moral and socially accountable way. Corporate social responsibility...
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...Management Research (AIM), UK and London Business School The corporate scandals in the United States have stimulated a frenzy of activities in business schools around the world. Deans are extolling how much their curricula focus on business ethics. New courses are being developed on corporate social responsibility. Old, highly laudatory cases on Enron and Tyco are being hurriedly rewritten. “What more must we do?”, the faculty are asking themselves in grave seminars and over lunch tables (Bartunek, 2002). Business schools do not need to do a great deal more to help prevent future Enrons; they need only to stop doing a lot they currently do. They do not need to create new courses; they need to simply stop teaching some old ones. But, before doing any of this, we—as business school faculty—need to own up to our own role in creating Enrons. Our theories and ideas have done much to strengthen the management practices that we are all now so loudly condemning. vested interests, which are dangerous for good or evil” Keynes (1953: 306). This is precisely what has happened to management. Obsessed as they are with the “real world” and sceptical as most of them are of all theories, managers are no exception to the intellectual slavery of the “practical men” to which Keynes referred. Many of the worst excesses of recent management practices have their roots in a set of ideas that have emerged from business school academics over the last 30 years. In courses on corporate governance grounded...
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