scholarly journals Shareholder Value Effects of Ethical Sourcing: Comparing Reactive and Proactive Initiatives

2021 ◽  
Author(s):  
Seongtae Kim ◽  
Sangho Chae
Keyword(s):  
Social Responsibility ◽  
Stock Price ◽  
Financial Risk ◽  
Shareholder Value ◽  
Economic Benefits ◽  
Socially Responsible ◽  
Market Reactions ◽  
Ethical Sourcing ◽  
Value Effect ◽  
Corporate Social

AbstractWith the advent of responsible business, ensuring social responsibility in sourcing is of interest to both academics and practitioners. In this study, we examine one way of achieving this goal: ethical sourcing initiatives (ESIs). ESIs refer to a firm’s formal and informal actions to manage sourcing processes in an ethical and socially responsible manner. While ESIs have been established as an important part of corporate social responsibility, it is unclear whether, how, and when this corporate effort is economically beneficial. We conduct an event study estimating the shareholder value effect of 159 publicly traded firms’ ESIs and find that the stock market reacts positively to ESIs in general. We also compare market reactions under different conditions including reactive versus proactive ESIs, and their interactions with initiative timing, firm size, and financial risk. Additionally, we find that ESIs are associated with long-term stock price and operating performance. Overall, our findings clarify the potential economic benefits of corporate ESIs and encourage buying firms to take these initiatives selectively according to business contexts.

scholarly journals Responsabilidad social empresarial como productora de ventajas competitivas

2019 ◽  
pp. 7-20
Author(s):  
Cesar SÁNCHEZ-OCAMPO ◽  
Hirana GUTIÉRREZ-KURUMILLA ◽  
Miguel Ángel CANALES-RODRÍGUEZ
Keyword(s):  
Social Responsibility ◽  
Economic Benefits ◽  
International Travel ◽  
Competitive Advantages ◽  
Socially Responsible ◽  
Technology Products ◽  
Youth Entrepreneurship ◽  
Resources And Capabilities ◽  
Corporate Social ◽  
Sustainable Competitive Advantages

Currently, a new company is claimed that includes the principles of sustainability and results in its actions, generating satisfaction for all stakeholders. Corporate social responsibility (CSR) seeks to create a balance between economic benefits and social welfare directly impacting various operational levels. This analysis concludes that companies must stop viewing CSR as an additional cost, since they can obtain sustainable competitive advantages by developing proactive strategies, based on the possession of certain resources and capabilities, because they can innovate to be socially responsible , increase their productivity and expand their markets in search of new growth opportunities using as a competitive strategy various social responsibility programs that include the participation of their own employees and that these programs are for the benefit of society in general, such as afforestation campaigns , assistance or prevention programs for various social health programs, promotion of youth entrepreneurship, technology products, national and international travel, etc.

Investor Tastes, Corporate Behavior, and Stock Returns: An Analysis of Corporate Social Responsibility

2021 ◽  
Author(s):  
Chuan Yang Hwang ◽  
Sheridan Titman ◽  
Ying Wang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Returns ◽  
Stock Price ◽  
Socially Responsible ◽  
Corporate Behavior ◽  
Portfolio Holdings ◽  
Target Firms ◽  
Corporate Social ◽  
Over Time

We classify institutions into socially responsible investors (SRI) and not socially responsible investors using the value weighted corporate social responsibility (CSR) scores of their portfolio holdings. We find that firms that exhibit increases in SRI ownership tend to increase future CSR scores. Our analysis of stock price responses to the revelation of SRI ownership changes indicates that the revelation of higher SRI ownership is associated with negative stock returns. These effects are particularly strong when we focus on SRI-activists, who tend to target firms with low CSR scores and lobby to increase them over time. These observations are consistent with the hypothesis that anticipated increases in CSR activities reduce firm values. This paper was accepted by David Simchi-Levi, finance.

scholarly journals Responsabilidad Social, un nuevo componente a la luz de la Norma ISO 9001:2008 y la Guía GTC 180

2014 ◽  
Vol 12 (2) ◽  
pp. 93-114
Author(s):  
Zonia Liliana Morales Ruíz
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Economic Benefits ◽  
Iso 9001 ◽  
Global Reporting Initiative ◽  
Business Trend ◽  
Socially Responsible ◽  
Social Growth ◽  
Corporate Social ◽  
Los Grupos

La presente investigación está orientada al análisis de la responsabilidad social empresarial, tema que actualmente toma fuerza en el rol que le compete a las organizaciones como gestoras de prácticas socialmente responsables. Ésta tendencia empresarial articula parámetros básicos de Calidad de la norma ISO 9001:2008, partiendo del diseño de la visión, misión, política y objetivos de calidad, el organigrama, el mapa de procesos y llegando hasta la caracterización de las fichas de cada proceso como base para un sistema de Gestión sencillo y comprensible. Partiendo del diagnóstico de Responsabilidad Social Empresarial, se identifican los grupos de interés o stakeholders y las actividades al interior de la organización enfocadas al cumplimiento de los principios del Pacto Global y de los Indicadores del Global Reporting Initiative GRI, al igual que las falencias para cumplir con losmismos. Finalmente a partir de la aplicación de la GTC 180 de ICONTEC y del diagnóstico realizado, se diseña la propuesta del Sistema de Responsabilidad Social para crear estrategias sostenibles en el tiempo de crecimiento social, preservación del medio ambiente y generando beneficios económicos para la empresa y todos los grupos de interés identificados.PALABRAS CLAVEResponsabilidad social, sistema de gestión, medio ambienteABSTRACTThis research is oriented to the analysis of corporate social responsibility issue that is currently gaining strength in the role given to organizations as managers of socially responsible practices. This business trend articulates basic parameters of Quality ISO 9001:2008, based on the design of the vision, mission, policy and quality objectives, the organizational, the process map and reaching the characterizationof the chips of each process as basis for a system of simple and understandable Management. Based on the diagnosis of Corporate Social Responsibility, interest groups or stakeholders and activities within the organization focused on compliance with the principles of the Global Compact and the Global Reporting Initiative GRI, as well as the shortcomings are identified to meet therewith. Finally from the implementation of the 180 GTC ICONTEC and the diagnosismade, the proposed Social Responsibility System is designed to create sustainable strategies in the time of social growth, environmental protection and generating economic benefits for the company and all stakeholders identified. KEYWORDSSocial responsibility management system, environment

scholarly journals The Socially Responsible Company distinctive as an element for the creation of economic value of a company

2020 ◽  
pp. 17
Author(s):  
Edgar Mauricio Flores Sánchez ◽  
Javier Antonio Flores Delgado ◽  
Axel Rodríguez Batres ◽  
Joaquín Bernardo Varela Espidio
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Cash Flow ◽  
Economic Value ◽  
Economic Benefits ◽  
Free Cash Flow ◽  
Focal Points ◽  
Socially Responsible ◽  
Flow Method ◽  
Corporate Social

Purpose: The present investigation was designed to determine the possible relationship between obtaining the Socially Responsible Company distinctive and the generation of economic value by the obtaining companies. Design/methodology/approach: A sample of 32 companies listed on the Mexican Stock Exchange that were awarded the Socially Responsible Company distinctive was drawn and two valuation focal points were considered: one before obtaining the distinctive and another subsequent to it. To establish the economic value of the companies, the free-cash-flow method was used. This study is considered, therefore, under the income approach of business valuation methods. Finally, the values obtained in both focal points were compared to determine the change in generated value attributable to the SRC distinctive. Findings: The results confirmed that obtaining the distinctive as a Socially Responsible Company does have an impact on the generation of economic value for the companies belonging to the sample -measured through the free-cash-flow method. This impact was determined at an average 6.26%, reasonably resembling the distribution of individual results a normal probabilistic distribution. Originality/value: This work adds value to the research on corporate social responsibility value measurement. This research study differentiates from others in the area due to the use of the CSR certification granted in Mexico by CEMEFI, as a social responsibility variable. In addition, the free-cash-flow method was used in the analysis, which is a novelty as it had not been applied to investigations of this type before. Likewise, this research work adds to past research in as much as it concludes that there is a positive relationship between corporate social responsibility and the generation of economic benefits.

scholarly journals What Motivates Stakeholders to Demand Corporate Social Responsibility: A Survey Experiment

2021 ◽  
Vol 13 (15) ◽  
pp. 8313
Author(s):  
Tomomi Yamane ◽  
Shinji Kaneko
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Sustainable Development Goals ◽  
Economic Benefits ◽  
Socially Responsible ◽  
The Public ◽  
Job Seeking ◽  
Raising Awareness ◽  
Development Goals ◽  
Corporate Social

Businesses are facing consistent pressures from stakeholders to be socially responsible although the economic benefits of corporate social responsibility (CSR) have been found to be mixed. We aim to reveal stakeholders’ motivations for demanding CSR by studying stakeholders’ stated preferences on companies’ contribution to the United Nations’ Sustainable Development Goals (SDGs) in three different contexts, purchasing, investing, and job-seeking. We conducted conjoint survey experiments—embedded information treatments targeting the public in Japan (n = 12,098) in 2019 and 2020. The results showed that stakeholders demanded corporations to contribute to international-related issues rather than domestic-related issues. Stakeholders’ support was low when the companies profited from contributing to the SDGs. These results suggest that social context reflects the preferences of stakeholders on corporates’ SDG activities. Overall, raising awareness had effects on stakeholders’ support and to what extent the information affected the decisions of stakeholders was varied by stakeholders.

Corporate Social Responsibility und Medienunternehmen

2008 ◽  
Vol 5 (2) ◽  
pp. 35-41
Author(s):  
Matthias Karmasin ◽  
Peter Strahlendorf ◽  
Florian Nehm
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Shareholder Value ◽  
Social Responsiveness ◽  
Corporate Social

Die Fähigkeit eines Unternehmens, über den Tellerrand des rein wirtschaftlichen Handelns hinauszublicken und sich als glaubwürdiges Glied in der Gesellschaft zu definieren, gilt als zunehmend wichtiger Erfolgsfaktor. Als ungenügend wird die enge opportunistische Ausrichtung des Managementhandelns auf den Shareholder Value gegeißelt. Der Gesellschaft wird die Legitimation zugesprochen, die Unternehmen darauf hin zu beurteilen, ob sie in ihren Aktivitäten moralischen Grundsätzen standhalten und zu einem „guten“ gesellschaftlichen Leben beitragen. Umgekehrt wird von den Unternehmen verlangt, diesen Beitrag zur „Social Responsiveness“ sichtbar zu machen, sich offen gegenüber der Unternehmensumwelt zu verhalten, ein ehrliches Verhalten an den Tag zu legen und auf die Interessen und Anliegen der Stakeholder konstruktiv einzugehen. Die nachfolgenden Standpunkte zum Thema CSR beleuchten die Thematik aus unterschiedlichen Perspektiven. Matthias Karmasin gibt einen methodischen Überblick über die Konzeptionen und Instrumente von CSR und verweist auf die hohe Verantwortung von Medien unternehmen, sich ernsthaft mit CSR auseinander zu setzen. Peter Strahlendorf zeigt auf, dass sich im Bereich der Medienunternehmen zahlreiche Beispiele für eindrucksvolle CSR-Aktivitäten finden lassen, dass teilweise aber auch Nach holbedarf, z. B. im Vergleich zur Industrie, besteht. Florian Nehm fokussiert den Blick auf das Nachhaltigkeitskonzept bei der Axel Springer AG.

La legislación tributaria venezolana como promotora de la responsabilidad social empresarial

Oikos ◽  
2014 ◽  
Vol 16 (33) ◽  
pp. 53
Author(s):  
Ana Cecilia Chumaceiro Hernández ◽  
Judith Josefina Hernández de Velazco
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Tax Law ◽  
Socially Responsible ◽  
Palabras Clave ◽  
Interpretative Approach ◽  
Corporate Social

aVenezuelan Tax Law as a Promoter of Corporate Social Responsibility   RESUMEN El presente artículo tiene por objetivo disertar sobre los dispositivos contenidos en la legislación tributaria venezolana que actúan como promotores de la responsabilidad social empresarial (RSE), para ello se utilizó el paradigma Cualitativo, bajo un enfoque hermenéutico – interpretativo, cuyo método fue análisis de contenido. En tal sentido se han observado los aspectos, elementos y mecanismos que se encuentran en la LISLR, LIVA y LOCTI que fomentan, incentivan o coadyuvan la RSE; finalmente se plantearan lineamientos para la aceptación de una nueva cultura de RSE con dimensión tributaria. Considerando, que dentro de la legislación tributaria no existen dispositivos específicos que promuevan la RSE, y, ello debe ser tomado en cuenta por el legislador para modificar ciertas normas y crear el incentivo necesario para que las empresas sean de forma congruente socialmente responsables. Palabras clave: legislación tributaria, empresa, promoción, responsabilidad social empresarial. ABSTRACT The objective of this study is to explore regulatory provisions from Venezuelan tax law as promoters of corporate social responsibility (CSR). For the methodological analysis of content, the study uses the qualitative paradigm and a hermeneutical-interpretative approach. The research observes different elements and mechanisms from LISLR, LIVA and LOCTI which encourage and contribute to corporate social responsibility. The study also proposes guidelines for the acceptance of a CSR culture from a tax dimension. The fact that there are no regulatory provisions within the Venezuelan tax law needs to be taken into account by legislators in order to amend certain norms and create the necessary incentives for companies to be socially responsible. Keywords: tax law; companies; encouragement; corporate social responsibility. Este trabajo es el resultado de investigaciones que se desarrollan en la línea “Responsabilidad Social, Empresa y Estado” del Centro de Estudios e Investigaciones Socioeconómicas y Políticas (CEISEP-UNERMB). 

scholarly journals Does CSR Activity Amount to Socially Responsible Management?

2021 ◽  
Author(s):  
M. John Foster
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Local Community ◽  
Annual Reports ◽  
Socially Responsible ◽  
Responsible Management ◽  
Exploratory Investigation ◽  
Research Questions ◽  
The Uk ◽  
Corporate Social

AbstractIn essence firms or companies are usually thought to exist to make products for or provide services of some sort to third parties, other companies or individuals. The philosophical question which naturally arises then is ‘to the benefit of whom should a firm’s activities be aimed?’ Possible answers include the owners of the firm, the firm’s employees or wider society, the firm’s local community or their host nation. It is because of firms’ location within a wider society that the issue of corporate social responsibility arises. The issue is do they contribute in a positive way to the fabric of society. In this paper we conduct an exploratory investigation whose research questions, broadly, are whether there is public evidence of corporate social responsibility activity by firms listed in the UK and to what extent, if any, such activities may amount to genuinely socially responsible management by the firms. We examined the most up to date annual reports of a split sample of 36 firms listed in the FTSE 350. The short answers to the two research questions above are: to some degree and no by some margin, based on data from the sample firms.

Understanding how social responsibility drives social innovation: characteristics of radically innovative projects

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Duygu Turker ◽  
Y. Serkan Ozmen
Keyword(s):  
Social Responsibility ◽  
Social Innovation ◽  
Socially Responsible ◽  
Content Type ◽  
Radical Innovations ◽  
Award Winning ◽  
Innovation Characteristics ◽  
Sustainability Challenges ◽  
Corporate Social ◽  
The Impact

PurposeThis study aims to analyze how corporate social responsibility (CSR) initiatives address sustainability challenges by focusing on the congruence between process and outcome variables of CSR.Design/methodology/approachFollowing a theory-driven model, a content analysis was conducted on 63 award-winning social responsibility projects.FindingsThe study reveals that the adoption of a proactive approach during environmental assessment, which manifests itself in a focus on emerging sustainability challenges with a deeper interest, affects the centrality of social responsibility initiative by increasing its learning and partnership potential and leads organizations to produce radical innovations.Practical implicationsThe findings provide a valuable understanding for practitioners on organizing the decision making process of CSR initiatives in order to unlock its learning potentials.Social implicationsRadically innovative projects with their higher levels of proactivity, centrality and generalizability are better than incremental ones at transferring and integrating company resources and capabilities to address emergent sustainability challenges.Originality/valueThe impact of CSR on society and nature has been a neglected area of literature. To reduce this gap, this study analyzes how the configuration of process variables shapes the outcomes of socially responsible initiatives on sustainability. It also provides a new typology on the relevance of CSR initiatives to company mission/model that can show how CSR can unlock organizational learning and innovation potentials.

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