Wealth redistribution between stakeholders

2020 ◽  
Vol 8 (11) ◽  
pp. 27-35
Author(s):  
Samia JIRARI ◽  
Mounime El Kabbouri ◽  
Sidi Mohamed Rigar
Keyword(s):  
Sustainable Development ◽  
Stock Exchange ◽  
Inclusive Growth ◽  
Socially Responsible ◽  
Csr Strategies ◽  
Wealth Redistribution ◽  
Sustainable Economy ◽  
Csr Strategy ◽  
Wise Choice ◽  
Corporate Social

Corporate social responsibility (CSR) is a very popular concept that hits the headline recently, companies face the obligation, not only to maintain their viability to ensure the sustainability of their business by continuing to create value, but to adopt a mode of governance that combines interests of all stakeholders. A CSR strategy is becoming more and more an obligation than just a wise choice. The strong involvement of Moroccan companies in CSR strategies is not by coincidence; but fits perfectly into the Kingdom's strategy, which adheres to the principles of sustainable development and CSR, for a sustainable economy and an inclusive growth. The purpose of this empirical study is to examine the shareholder’s engagement and the degree of involvement in CSR strategy, of a sample of 45 Moroccan companies listed on the Casablanca Stock Exchange and belonging to all sectors other than banking, insurance and equity investments, that claim to be socially responsible, through an analysis of the redistribution of their created value towards five categories of primary stakeholders, that are: lenders of funds, customers, suppliers, shareholders and employees.

scholarly journals The Use of CSR Measurement Matrix in the Aspect of Sustainable Development

2018 ◽  
Vol 18(33) (1) ◽  
pp. 80-87
Author(s):  
Anna Klepacka ◽  
Monika Bagińska
Keyword(s):  
Sustainable Development ◽  
Social Life ◽  
Social Trust ◽  
Measurement Matrix ◽  
Socially Responsible ◽  
Iso 26000 ◽  
The Public ◽  
Development Tools ◽  
Csr Strategy ◽  
Corporate Social

The idea of Corporate Social Responsibility (CSR) represents the voluntary effort that companies invest in social life. Companies incorporate the concept of CSR strategy in their businesses, knowing its importance to the benefit of the public at large and to sustainable development. Any activity of any major company is exposed to public opinion, which plays a key role in shaping the image of the company. Companies compete to win social trust and acceptance of their activity. The aim of the article was to present the value and significance of CSR activities undertaken by companies, using the example of two businesses, i.e. Polski Koncern Naftowy (PKN) Orlen and Kompania Piwowarska in reference to sustainable development. The article compares the CSR measurement matrix that allows assessing whether a given company is socially responsible, to what extent CSR activities affect the company's stakeholders and to what extent they are consistent with sustainable development (assigning particular CSR development tools by Stakeholders applying the weights from 1 to 3). ISO 26000 standards define the principles of social and environmental responsibility as a guide for organizations and in the analysed companies are a tool that exerts one of the greatest impacts on stakeholders. For both companies, the most important stakeholders are Shareholders and Managers, and they are the ones who, to the largest extent, conduct a socially responsible dialogue for which all CSR development tools are important. Both companies conduct key activities, PKN Orlen used 91% and Kompania Piwowarska 73% of all CSR development tools considered in this study.

Communicating Socially Responsible Initiatives

2020 ◽  
pp. 79-106
Author(s):  
Ekaterina Arabska
Keyword(s):  
Sustainable Development ◽  
Public Relations ◽  
Special Focus ◽  
Socially Responsible ◽  
Csr Strategies ◽  
Short And Long Term ◽  
Corporate Social ◽  
Focus On Forms ◽  
Corporate Practice

The purpose of the chapter is to present results of case studies of socially responsible initiatives and their communication inside and outside the organizations through the official websites impacting their performance and image, as well as to make recommendations for improvements. Investigations focus on forms and goals of initiatives taken by companies in Bulgaria, including examples of the influence of foreign corporate practice and experience. Theoretical and practical basis and trends, international framework, and national institutional positions and support to corporate social responsibility are discussed. Socially responsible activities are analyzed through the official websites in their short- and long-term aspects and links to sustainable development initiatives. Main CSR principles are defined, and a model is proposed containing the main steps of incorporating CSR strategies in companies and linking all that to business communications and public relations. A special focus is put on capacity building and CSR teams.

scholarly journals The Opinions of European Companies on Corporate Social Responsibility and Its Relation to Innovation

2007 ◽  
Vol 1 (2) ◽  
pp. 276 ◽  
Author(s):  
M. Victoria López-Pérez ◽  
Mª Carmen Perez-Lopez ◽  
Lazaro Rodriguez-Ariza
Keyword(s):  
Social Responsibility ◽  
Competitive Advantages ◽  
Socially Responsible ◽  
Csr Strategies ◽  
General Index ◽  
Key Factor ◽  
Csr Strategy ◽  
Dow Jones Sustainability Index ◽  
Corporate Social ◽  
Innovation Practices

In recent years there has been greater concern among companies to include responsible practices in their goals. To achieve this aim, companies are beginning to manage economic, social and environmental factors following socially responsible practices. Adopting a strategy of Corporate <br />Social Responsibility (CSR) may influence the different policies implemented by the company, one of which is that regarding innovation.  In this study, we analyze the opinions of 95 European companies, 42 of which form part of the Dow Jones Sustainability Index (DJSI) and 53 of which belong to the Dow Jones General Index (DJGI), concerning their CSR policy, the innovation carried out and the relation between the two concepts. Our results show that the DJSI companies, unlike those belonging to the DJGI, consider their CSR strategy to be a key factor in generating competitive advantages and profits. Moreover, the companies surveyed have implemented innovations that are more incremental than radical, and these innovation practices are found to be influenced by CSR strategies. <br /><br />

scholarly journals The Corporate Social Responsibility of Polish Energy Companies

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3815
Author(s):  
Magdalena M. Stuss ◽  
Zbigniew J. Makieła ◽  
Agnieszka Herdan ◽  
Gabriela Kuźniarska
Keyword(s):  
Corporate Social Responsibility ◽  
Literature Review ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Energy Sector ◽  
Study Approach ◽  
Csr Strategies ◽  
Warsaw Stock Exchange ◽  
Corporate Social ◽  
Energy Companies

If corporate social responsibility (CSR) is expected to work efficiently, there should be a standardised approach for implementation of the CSR concept for all businesses, including companies operating in the energy sector. Although many companies declare compliance with CSR standards, further investigation should be undertaken to evaluate if and how those standards have been applied in practice. The aim of this research is to examine the level of standardisation of the CSR activities within Polish energy companies and explore the good practices developed by those companies. The Polish energy companies have been selected for the investigation as the literature review we conducted demonstrates that there is limited research in this area and there is a knowledge gap regarding how Polish energy companies apply CSR regulation in practice. To accomplish the stated aims, the following research questions were developed: (1) What is the essence of applying the CSR concept in Polish energy companies, and at what level of development is the concept applied? (2) To what extent do Polish energy companies have a common approach to the CSR concept, and in what areas are there differences? (3) To what extent have Polish energy companies applied global CSR standards and solutions? (4) Is there a gap between the declared measures of CSR and their actual implementation in Polish energy companies? The research methodology of this study is based on a systematic literature review of the sources acquired from databases such as ProQuest, Emerald, SCOPUS and the Jagiellonian University Library. The multiple case study approach was identified as the most suitable research tool. Companies for the study were selected according to their affiliation to the energy sector and listing on the main market of the Warsaw Stock Exchange. These two assumptions allowed us to base this study on the largest Polish energy companies that have international status. Six areas of CSR annual report disclosures have been identified and used for the investigation and analysis. This research looks at similarities and difference between these six aspects of CSRs disclosed by Polish energy companies. The investigation allows us to conclude that the top three energy companies use similar tools to build their CSR strategies: formalised CSR concept, published CSR reports, disclosure of CSR information on the company website, CSR related activities offered to stakeholders, obtained CSR certificates, and CSR awards. This indicates the existence of a standardised approach to CSR across Polish energy companies.

Does CSR Contribute to Sustainable Development? What a Régulation Approach Can Tell Us

2016 ◽  
Vol 50 (1) ◽  
pp. 154-172 ◽  
Author(s):  
Thomas Lamarche ◽  
Catherine Bodet
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Jel Classification ◽  
The Other ◽  
Csr Strategies ◽  
Development Regime ◽  
Institutional Csr ◽  
Strategic Csr ◽  
Corporate Social ◽  
Regulation Approach

We argue that corporate social responsibility depends on two distinct stylized facts concerning régulation and power. The first—institutional CSR—is institutional in nature, the other—strategic CSR—is economic and productive. The former permits and stabilizes the latter, which in turn gives rise to political compromises structuring institutional mechanisms. CSR strategies and institutions correspond to a private, oligopolistic régulation which shows no signs of being able to pursue a sustainable development regime. JEL classification: B52, D02, L15, M14, P17

Towards a more ethical market: the impact of ESG rating on corporate financial performance

2019 ◽  
Vol 15 (1) ◽  
pp. 11-27 ◽  
Author(s):  
Giovanni Landi ◽  
Mauro Sciarelli
Keyword(s):  
Data Analysis ◽  
Corporate Social Performance ◽  
Stock Exchange ◽  
Social Performance ◽  
Panel Data Analysis ◽  
Abnormal Returns ◽  
Socially Responsible ◽  
Content Type ◽  
Corporate Social ◽  
The Impact

Purpose This paper fits in a research field dealing with the impact of Corporate Ethics Assessment on Financial Performance. The authors argue how environmental, social and governance (ESG) paradigm, meant to measure corporate social performance by rating issuance, can impact on abnormal returns of Italian firms listed on Financial Times Stock Exchange Milano Indice di Borsa (FTSE MIB) Index, developing a panel data analysis which runs from 2007 to 2015. Design/methodology/approach This study aims at exploring whether socially responsible investors outperform an excess market return on Italian Stock Exchange because of their investment behavior, testing statistically the relationship between the yearly ESG assessment issued by Standard Ethics Agency on FTSE MIB’s companies and their abnormal returns. To verify the impact of an ESG Rating on a company’s abnormal return, the authors developed a panel data analysis through a Fixed Effects Model. They measured abnormal returns via Fama–French approach, running a yearly Jensen’s Performance Index for each company under investigation. Findings The empirical results denote in Italy both a growing interest to corporate social responsibility (CSR) and sustainability by managers over the past decade, as well as an improving quality in ESG assessments because of a reliable corporate disclosure. Thus, despite investors have been applying ESG criteria in their stock – picking operations, the authors found a not positive and statistically significant impact in terms of market premium, when they have been undertaking a socially responsible investment (SRI). Practical implications The findings described above show that ethics is not yet a reliable fundraising tool for Italian-listed companies, despite SRIs having a positive growth rate over past decade. Investors seem to be not pricing CSR on Stock Exchange Market; therefore, listed companies cannot be rewarded with a premium price because of their highly stakeholder oriented behavior. Originality/value This paper explores, for the first time in Italy, when market extra-returns (if any) are related to corporate social performance and how managers leverage ethics to build capital added value.

scholarly journals Relevance of Corporate Social Responsibility to Companies During Turbulent Economic Times: A Survey of Zimbabwe Stock Exchange Listed Companies

2021 ◽  
Vol 7 (2) ◽  
pp. 1
Author(s):  
Vusumuzi Sibanda ◽  
Imelda Sekai Shoko ◽  
Ruramayi Tadu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Listed Companies ◽  
Chi Square ◽  
Business Survival ◽  
Csr Strategies ◽  
Turbulent Times ◽  
Corporate Social ◽  
The Relationship

Corporate Social Responsibility (CSR) has remained topical and contentious as various schools of thought are put forward on its relationship to cost versus profitability for businesses. This study explored the relevance of CSR and its effect on the survival of businesses during an economic meltdown in Zimbabwe. The study purposively sampled 31 companies that are listed on the Zimbabwe Stock Exchange and have sound CSR programmes. A total of 93 questionnaires were administered and a Chi-square was conducted to test and establish the relationship between CSR strategies and business survival. The study concluded that companies with CSR strategies had a higher chance of surviving during turbulent times. Following the findings of the study, it is recommended that government comes up with CSR policies for different industries and that organisations continue investing in CSR especially in times of economic challenges.

CSR and Social Marketing as Enablers of Recovery after the Global Recession

2017 ◽  
pp. 274-289
Author(s):  
Misra Cagla Gul ◽  
Mehmet Kaytaz
Keyword(s):  
Corporate Social Responsibility ◽  
Social Marketing ◽  
Local Communities ◽  
Economic Downturn ◽  
Socially Responsible ◽  
Global Recession ◽  
Csr Strategies ◽  
Self Interest ◽  
Marketing Tool ◽  
Corporate Social

Corporate Social Responsibility (CSR) is a relatively new concept in Turkey. Leading companies including banks stress socially responsible activities in their marketing communications. The recent economic crisis put banks into the center stage again. Turkey was one of the few countries that emerged from the economic downturn relatively quickly. In the initial stages of the crisis, banks faced some criticism for protecting their self-interest more and not acting for the benefit of the society. Later, these criticisms got weaker and less frequent. This chapter examines the behavior of banks during the crisis with respect to CSR and social marketing. Particularly, the chapter analyzes how the banks behaved during the crisis and how they supported small and medium scale enterprises and local communities through CSR strategies, as well as how they utilized CSR efforts as a marketing tool. In addition, the outcome of these strategies is discussed.

Socially Responsible Value Creation in the Post-COVID-19 Era

2022 ◽  
pp. 67-89
Author(s):  
Gönenç Dalgıç Turhan ◽  
Narin Bekki ◽  
Gulen Rady
Keyword(s):  
Sustainable Development ◽  
Value Creation ◽  
Sustainable Development Goals ◽  
Business Organizations ◽  
Socially Responsible ◽  
Resource Based View ◽  
New Era ◽  
Development Goals ◽  
Strategic Position ◽  
Corporate Social

The unfortunate economic environment emanated from the outbreak of the coronavirus has suddenly raised business organizations' concerns over the value creation. This new era forced them to focus on dynamic and digital capabilities to cope with the adverse changes. Following the stakeholder theory and the resource-based view, this chapter attempts to specify value creation of companies to preserve strategic position while satisfying the demands and interests of their stakeholders. In this sense, corporate social responsibility (CSR) seems a viable way of providing help and support to stakeholders during the fight against the pandemic as well as a catalyzer for the integration of sustainable development goals that can bridge the widened gap in the society. Hence, this chapter seeks to present an understanding on socially responsible value creation, dynamic and digital capabilities, and implementation of sustainability-driven CSR initiatives to ensure recovery, growth, and achieve sustainable development goals.

scholarly journals Evaluation of Corporate Social Responsibility Performance in Air Transport Enterprise

2020 ◽  
Vol 10 (2) ◽  
pp. 261
Author(s):  
Dimitrios J. Dimitriou
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Decision Makers ◽  
Enterprise Management ◽  
Assessment Framework ◽  
Analysis Framework ◽  
Csr Strategies ◽  
Csr Strategy ◽  
Effectiveness And Efficiency ◽  
Corporate Social

The key objective of this paper is to present the dimensions and the characteristics of an airport enterprise management engagement in Corporate Social Responsibility (CSR). By analyzing different strategies and plans towards CSR, applied in a sample of 15 European airports, the comprehensiveness is defined, providing the assessment framework of the airports CSR effectiveness and efficiency. Conventional wisdom is to provide a CSR assessment framework applied on airport industry. The methodology based on the competitive analysis framework, driven by benchmarking analysis applied to a group of European airports engaged in different CSR strategies. Defining the key actions of the airports CSR strategy, an assessment framework to review how this strategy meets social goals is developed. The airport strategy is reviewed considering the aviation business characteristics such as, traffic and regional GDP. Based on data collected from 15 busy European airports, the comprehensiveness of CSR strategy for this business sector considering stakeholders’ theory is investigated. The outputs provide key messages to decision makers, managers, and stakeholders towards CSR comprehensiveness of the airport operators.

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