scholarly journals Educating Bankers on Law, Ethics and Social Values: A Perspective from the US, the UK and Europe

2018 ◽  
Vol 14 (4) ◽  
pp. 569-608 ◽  
Author(s):  
Demetra Arsalidou
Keyword(s):  
Best Interests ◽  
Short Term ◽  
Socially Responsible ◽  
Financial Products ◽  
Long Run ◽  
The Us ◽  
Future Leaders ◽  
The Uk ◽  
Corporate Social ◽  
Short Termism

The paper questions how global businesses can alter their attitudes to make them more ethical and transparent. It examines three causes of a financial catastrophe that are linked to bankers’ attitudes and mindsets: bankers’ excessive greed that leads them to fall into ruinous temptations such as securitisation and short-termism, bankers’ behavioural limitations such as overconfidence and over optimism and finally bankers’ ignorance of financial products. The paper then considers an alternative model to confronting bankers’ deficiencies that is more sustainable in the long run: the tool of education. When there is so much disapproval of companies for their lack of corporate social responsibility, education can help significantly. Its role is three-fold: First, it can alert future leaders of the positives of acting selflessly and for socially responsible goals. Second, it can teach them of what the law actually says: that they must promote the company’s best interests – and not the shareholders’ short-term interests – a matter frequently ignored within business practice. Finally, via education future leaders can learn a thing or two about the behavioural weaknesses often characterising people in high executive positions; they can also learn about the risks of showing poor judgment and unfamiliarity with a business’ financial nuances and related risks. These ‘educational measures’ can help restore integrity back into banking whilst underlining the weight of ethics-based corporate cultures.

scholarly journals Investing for Prosperity: Skills, Infrastructure and Innovation

2013 ◽  
Vol 224 ◽  
pp. R1-R13 ◽  
Author(s):  
Timothy Besley ◽  
Miguel Coelho ◽  
John Van Reenen
Keyword(s):  
Policy Changes ◽  
The Past ◽  
Long Run ◽  
The Us ◽  
Key Factor ◽  
Relative Decline ◽  
Policy Risk ◽  
The Uk ◽  
Short Termism ◽  
National Infrastructure

What policies and institutions are needed to sustain long-run growth in the UK? We describe an optimistic story of the UK economy over the past 30 years. From the late 1970s, the UK reversed a century of relative decline in terms of per capita GDP with our main counterparts in the US, France and Germany. A key factor behind this improvement was an array of policy changes including an expansion of higher education and greater competition in product and labour markets. However, major weaknesses with respect to long-run investment in human capital, infrastructure and innovation remain. These are hampered by problems of short-termism and policy risk. We propose a series of radical reforms to address these problems: such as more flexibility in schooling with a new focus on disadvantage; a new architecture for national infrastructure decisions and more competition in banking.

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.

Testing the weak form of efficient market hypothesis for socially responsible and Shariah indexes in the USA

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abbas Khan ◽  
Muhammad Yar Khan ◽  
Abdul Qayyum Khan ◽  
Majid Jamal Khan ◽  
Zia Ur Rahman
Keyword(s):  
Stock Prices ◽  
Arima Model ◽  
Weak Form ◽  
Efficient Market Hypothesis ◽  
Future Price ◽  
Short Term ◽  
Socially Responsible ◽  
Efficient Market ◽  
Content Type ◽  
The Us

Purpose By testing the weak form of efficient market hypothesis (EMH) this study aims to forecast the short-term stock prices of the US Dow and Jones environmental socially responsible index (SRI) and Shariah compliance index (SCI). Design/methodology/approach This study checks the validity of the weak form of EMH for both SCI and SRI prices by using different parametric and non-parametric tests, i.e. augmented Dickey-Fuller test, Philip-Perron test, runs test and variance ratio test. If the EMH is invalid, the research further forecasts short-term stock prices by applying autoregressive integrated moving average (ARIMA) model using daily price data from 2010 to 2018. Findings The research confirms that a weak form of EMH is not valid in the US SRI and SCI. The historical data can predict short-term future price movements by using technical ARIMA model. Research limitations/implications This study provides better guidance to risk-averse national and international investors to earn higher returns in the US SRI and SCI. This study can be extended to test the EMH of Islamic equity in the Middle East and North Africa region and other top Islamic indexes in the world. Originality/value This study is a new addition to the existing literature of equity investment and price forecasting by comparing and investigating the market efficiency of two interrelated US SRI and SCI.

Study on Sustainable Buildings

2012 ◽  
Vol 174-177 ◽  
pp. 3146-3149
Author(s):  
Ying Li
Keyword(s):  
Environmental Assessment ◽  
Assessment Method ◽  
Sustainable Construction ◽  
Socially Responsible ◽  
Sustainable Buildings ◽  
Use Of Resources ◽  
Ecological Principles ◽  
The Us ◽  
Construction Operation ◽  
The Uk

Sustainable development meets the needs of the present without compromising the ability of future generations to meet their own needs. Sustainable construction is the creation and responsible maintenance of a healthy built environment, based on ecological principles, and by means of an efficient use of resources. Sustainable buildings meet customer needs through environmentally and socially responsible planning, design, construction, operation and maintenance at the least possible first-time and operating costs. Three assessment methods for sustainable buildings are included: Building Research Establishment's Environmental Assessment Method (BREEAM) in the UK, Leadership in Energy and Environmental Design (LEED) in the US and Green Globes environmental assessment and rating system. The greatest challenge sustainable construction faces is to lower the initial costs of sustainable buildings. Prefabrication is a means of saving labor and lowering the costs.

scholarly journals Corporate social responsibility: opportunities, drivers and barries.

2013 ◽  
Vol 1 (1) ◽  
Author(s):  
Sasan Ghasemi ◽  
Mehran Nejati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Business Professionals ◽  
Short Term ◽  
Long Run ◽  
Qualitative Research Methodology ◽  
Key Drivers ◽  
Emerging Themes ◽  
Corporate Social ◽  
Depth Interviews

The following study employed a qualitative research methodology in order to explore the views of Iranian business professionals about the opportunities, drivers and barriers of corporate social responsibility (CSR). Thirteen Iranian business professionals with 9.2 years of overall working experience participated in in-depth interviews. The study revealed that majority of interviewees consider CSR as a threat for Iranian businesses in the short-term, yet as an opportunity in long-run in case businesses are ready to transform and commit to their responsibilities. The findings also included the emerging themes for the key drivers and barriers of CSR from the interviewees’ perspectives.

scholarly journals Do Corporate Social Responsibility Activities Reduce Credit Risk? Short and Long-Term Perspectives

2019 ◽  
Vol 11 (24) ◽  
pp. 6962 ◽  
Author(s):  
Thuy Thi Thu Truong ◽  
Jungmu Kim
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Credit Risk ◽  
Credit Default Swap ◽  
Community Diversity ◽  
Employee Relations ◽  
Short Term ◽  
Long Run ◽  
Corporate Social

This study examines the short- and long-run effects of corporate social responsibility (CSR) activities on the credit risk implied in credit derivative prices. Measuring the different term effects on credit risk by the slope of credit default swap (CDS) spreads with different maturities, we investigate how CSR activities affect credit risk differently in the short and long run. Fama-MacBeth regressions reveal that firms with higher CSR scores tend to have more gently decreasing CDS slopes because, on average, CSR activities reduce credit risk in the long run more than in the short run. An analysis of individual CSR categories shows that while community, diversity and employee relations lead to a lower CDS slope, human rights and product characteristics increase the CDS slope. This finding suggests that not all CSR activities affect short-term and long-term credit risks in the same direction. Therefore, even though CSR activities can reduce credit risk in the long-run, some CSR activities may increase the short-term credit risk and hence increase short-term borrowing costs.

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