scholarly journals Corporate Social/Environmental Responsibility and Value Creation: Reflections on a Modern Business Management Paradigm

2020 ◽  
Vol 4 (4) ◽  
pp. 123-131
Author(s):  
Marco Taliento ◽  
Antonio Netti
Keyword(s):  
Stakeholder Theory ◽  
Value Creation ◽  
Dynamic Capabilities ◽  
Business Management ◽  
Environmental Responsibility ◽  
Bottom Line ◽  
Sustainability Disclosure ◽  
The Social ◽  
Modern Business ◽  
Social Environmental

The present article deals with a new, modern business management paradigm founded on both the social and the environmental responsibility of firms intended as powerful instruments to match the issue of sustainability with corporate performance and value creation (thus evolving from the classical shareholder value to a new, more comprehensive, shared value view). The Directive 2013/34/EU required the disclosure of large enterprises and groups’ non-financial and diversity information. At the same time, a growing number of proactive companies that behave with real initiatives more compliant to the so-called Stakeholder Theory have become quite familiar to produce CSR and sustainability reports periodically to share with the community their relevant responsibility actions and achievements (3 P results or triple-bottom-line performance, as a for-profit, people, planet). Such a complex, behavioral, and informative approach follows the corporate governance setting and management strategy within the ethical domain (business ethics). In this perspective, we conduct a systematic research study on the economic literature that showed a focus on the possible relation between the responsible behavior/information and the economic/financial performance of firms, analyzing both the empirical findings and theoretical works significantly investigating the effect of sustainability indicators on financial and market results. According to the general studies, socially responsible policies can produce a positive impact on company performance by many advantages such as the reduction of operating costs and financial risks, an increase of efficiency and competitiveness, the improvement of the company’s reputation, and a related increase in consumer confidence; despite preceding studies pointed out that CSR investments and responsibility policies (representing the result of an agency conflict between managers and shareholders) would generate just an increase in costs and a consequent decline in the performance of companies. The consideration of the ESG (environmental, social, and governance) – which completes the CSR issue – and its new goals in the long run, even as a component of the holistic enterprise risk management system, finally enables us to reinterpret the fundamental competitive advantage of firms in a sustainability key. In particular, the environmental, social, and governance extra-performance over the industry may show to be more ‘value-relevant’ than the absolute ESG ratings itself. In conclusion, the social, environmental, and governance responsibilities (to all stakeholders) are building a set of dynamic capabilities and actions which reveal a new competitive (X) Factor of the modern corporation. Keywords: CSR, Environmental-Social-Governance, Economic Performance, Value Creation; Stakeholder Theory, Sustainability Disclosure.

scholarly journals Triple Bottom Line and Sustainability: A Literature Review

2015 ◽  
Vol 1 (2) ◽  
pp. 6 ◽  
Author(s):  
Hanan Alhaddi
Keyword(s):  
Literature Review ◽  
Relevant Literature ◽  
Business Management ◽  
Triple Bottom Line ◽  
The Other ◽  
Bottom Line ◽  
Comprehensive Review ◽  
Other Hand ◽  
The Social ◽  
Social Environmental

Triple bottom line (TBL) and sustainability are two related constructs that are used interchangeably in the literature.  A comprehensive review of the relevant literature was conducted and revealed an inconsistent use of the term sustainability.  On the other hand, consistency in terms of referring to the three lines simultaneously is built into the structure of TBL as the construct is explicitly based on the integration of the social, environmental, and economic lines.  The purpose of this paper is not to support an argument that favors the use of one term over the other, but to provide an overview of the presence of both terms in the literature. In light of that, researchers in the business, management, and sustainability fields are encouraged to pay particular attention to how they use these terms in their studies.

scholarly journals Avances en la exposición contable de CoPs y memorias GRI = Advances in CoPs and GRI reports as accounting statements

2012 ◽  
pp. 109 ◽  
Author(s):  
Liliana Fernández Lorenzo ◽  
Elsa Larramendy ◽  
Pamela Tellechea
Keyword(s):  
Accounting Information ◽  
Global Reporting Initiative ◽  
Environmental Responsibility ◽  
United Nations Global Compact ◽  
Development Organizations ◽  
Accounting Principles ◽  
The Social ◽  
Minimum Requirements ◽  
Social Environmental ◽  
The Impact

<p>Actualmente para lograr un desarrollo sustentable, la sociedad requiere que las organizaciones asuman su responsabilidad socio-ambiental y emitan información acerca de los impactos que su actividad genera en el medioambiente.<br />Dicha información mayormente se presenta a través de las denominadas Memorias o Reportes de Sostenibilidad, que responden a distintas formas y contenidos. Cada vez son más los informes que se elaboran siguiendo los lineamientos del Pacto Mundial (PM) y del Global Reporting Initiative (GRI).<br />Consideramos que la información sobre la responsabilidad socio-ambiental debería reunir los requisitos que hacen a toda buena información contable, para incrementar su utilidad.<br />Para comprobarlo, se realiza un estudio de casos a los fines de determinar las características generales de estos informes elaborados bajo pautas del PM y del GRI conjuntamente, concluyendo que <em>la información presentada en las memorias analizadas no reúne los requisitos de una buena información contable.<br /></em>A fin de que la exposición de las CoPs y memorias de sostenibilidad GRI, pueda calificarse de contable, se expresan sintéticamente los indicadores analizados agregando su relación porcentual y se incorporan al Estado Contable Socio-ambiental realizado de acuerdo al modelo base de la FCE-UNLP, considerado como un estado contable (Fernández Lorenzo y Geba, 2008).</p><p>Nowadays in order to achieve sustainable development, organizations are required to take on their social and environmental responsibility and give information about the impact of their activities in the environment.<br />This information is usually presented through sustainability reports, which widely differ in content and layout. Many organizations worldwide have assumed their responsibility by implementing Global Reporting Initiative (GRI) and United Nations Global Compact (GC) guidelines.<br />We consider that the information regarding socio-environmental responsibility, should meet the characteristics of the good accounting information, and be based on the accounting principles in order to increase its utility.<br />To know it, we carried out an empirical research in order to determinate the general characteristics of the reports made under both GRI and GC guidance. We concluded that in most cases the information as presented in the analyzed reports does not meet the minimum requirements of good accounting information.<br />Consequently, we decided to make a proposal and show the analyzed indicators in the Social Environmental Report developed according to the FCE-UNLP model (Fernández Lorenzo and Geba, 2008), which we consider as a true accounting statement.</p>

scholarly journals Is Psychological Value a Missing Building Block in Societal Sustainability?

2018 ◽  
Vol 10 (12) ◽  
pp. 4550 ◽  
Author(s):  
João Carvalho ◽  
Célio Sousa
Keyword(s):  
Value Creation ◽  
Ecological Value ◽  
Bottom Line ◽  
Organizational Survival ◽  
Psychological Dimension ◽  
Novel Approach ◽  
The Social ◽  
Social Product ◽  
The Impact ◽  
Shed Light

Value creation is a constitutive and defining aspect in organizational ventures. This is unsurprising, as it is required for organizational survival and sustainability. Approaches based on the creation of economic, social and ecological value draw attention to the multiple and multiplicative nature of value creation. While academia still acknowledges the conceptual value of such approaches, a framework that add a psychological dimension to the established Elkington’s triple-bottom line model seems particularly refreshing and inspiring. Relying on the concepts of psychological value and sustainability, this paper presents the outcomes of an exploratory empirical study involving managers and users/customers of four organizations in the social sector in Portugal. This study discusses how managers and users/customers of these organizations make sense of and value psychological value. The outcomes of the interviews with both managers and users/customers shed light into the unexplored, hazy and neglected analytical links that may exist between psychological value and broader perspectives on sustainability. We conclude that this novel approach enhances our understanding about the impact that a social product can have in societal sustainability.

Millennial Reservations

2000 ◽  
Vol 10 (1) ◽  
pp. 291-303 ◽  
Author(s):  
Lisa H. Newton
Keyword(s):  
Business Ethics ◽  
Stakeholder Theory ◽  
Social Contract ◽  
Natural Environment ◽  
Triple Bottom Line ◽  
Bottom Line ◽  
Doing Business ◽  
The Social

Abstract:The decade in which the Business Ethics Quarterly has flourished has been a good one for business and business ethics, in which new guiding theories (like stakeholder theory), new interpretations of older ethical concepts (trust, virtue, and the social contract, for instance), and whole new paradigms of doing business (the Triple Bottom Line) have entered the literature. But practice has not kept up with theory, and the theoretical gains seem to be offset by terrible losses in the temperance of greed, the fostering of trustworthiness, and sensitivity to the natural environment.

The Social, Economic, and Environmental Dimensions of Hotel Sustainability

2020 ◽  
pp. 187-204
Author(s):  
Jorge Julião ◽  
Marcelo Calvete Gaspar ◽  
Benny Tjahjono
Keyword(s):  
Corporate Social Responsibility ◽  
Focal Point ◽  
Social Sustainability ◽  
Economic Aspects ◽  
Bottom Line ◽  
The Social ◽  
The World ◽  
Sustainability Initiatives ◽  
Social Environmental ◽  
Corporate Social

Hotel sustainability has become a focal point for companies all around the world with a dual focus on attracting customers to their business and capitalizing from sustainability measures and practices. Such sustainability initiatives allow for increasing economic efficiency and reducing energetic and environmental impacts. Based on the triple bottom line, social sustainability is also key to promote and implement efficient corporate social responsibility practices. This study reports on a survey carried out to address the customers perceptions regarding the influence of sustainability on their choice of hotel. This survey was conducted in Oporto city (Portugal) to domestic and foreign tourists in 2018/2019 with a valid sample size of more than 370 respondents. This research concludes that, even though customers show to be sensitive to social, environmental, and economic aspects, these issues do not exhibit a significant influence on their hotel selection based only on sustainability claims.

scholarly journals Further Thoughts on Mega-Accounting and the Need for Standards

2008 ◽  
Vol 2 (2) ◽  
pp. 158 ◽  
Author(s):  
M. R. Mathews
Keyword(s):  
Conceptual Framework ◽  
Business Case ◽  
Environmental Accounting ◽  
Bottom Line ◽  
Economic Dimension ◽  
Research Perspective ◽  
The Social ◽  
Social Environmental ◽  
Accounting Reports ◽  
Comprehensive Framework

This paper continues previous research (Mathews 1984, 1997b, 2000a, 2000b, 2003) into developing a proposal for a system of comprehensive<br />reporting based on a concept called megaaccounting. The ideas in mega- accounting are similar to those behind GRI (2002) and triple bottom line (TBL) reporting (Elkington 1997), but with a different underlying  philosophy, a social contract approach compared to one based on organisational legitimacy or the need for management to drive sustainability and sustainable capitalism which is sometimes called ‗the<br />business case‘. The paper attempts to develop the concept of mega- accounting by identifying the purpose underlying the reports, identifying the basis of a conceptual framework and providing an indication<br />of the content that social and environmental accounting reports may include in the future. Of necessity the research perspective is normative<br />and deductive, as is much of the process of developing accounting standards, the model upon which it is argued social and environmental<br />accounting should be based. The paper concludes by reiterating that the way forward for social and environmental accounting and reporting is for a conceptual framework to be agreed and standards developed via a normative-pragmatic process that will provide the basis for comprehensive, audited, corporate reports encompassing the social, environmental and economic dimension.  Furthermore, additional work is needed on the areas of macro-social accounting and externalities in order to develop a comprehensive framework.<br /><br />

scholarly journals The Overview and Tendency of Corporate Environmental Responsibility in the Construction Industry of China

2018 ◽  
Vol 175 ◽  
pp. 04021
Author(s):  
Ying Jiang ◽  
Xiaolong Xue
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Construction Industry ◽  
Stakeholder Theory ◽  
Triple Bottom Line ◽  
Environmental Responsibility ◽  
Corporate Environmental Responsibility ◽  
Bottom Line ◽  
Classic Theory ◽  
Corporate Social

Although the research on the corporate social responsibility (CSR) has attached increasing attention in recent years, the definition and measurement of CSR in the construction industry are still not sufficient. This paper reviewed previous literatures on the definition and measurement of CSR. Then, the study defined and constructed the index of corporate social responsibility in the construction industry based on the classic theory of triple bottom line and stakeholder theory. At last, the study put forward the further research of CSR in the construction industry of China.

scholarly journals A Study of Sustainable Disclosure Practices of Indian Corporates

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Shilpa S. Motwani ◽  
Hemal B. Pandya
Keyword(s):  
Stock Exchange ◽  
Sustainability Reporting ◽  
Global Reporting Initiative ◽  
Bottom Line ◽  
Non Profit ◽  
Social Governance ◽  
Sustainability Disclosure ◽  
Sustainability Reports ◽  
Social Environmental ◽  
Market Capitalisation

<div><p><em>The corporate governing bodies have worked towards governance, socially responsibility over the last couple of decades. They are now emphasising sustainability reporting. The focus has now shifted from financial to the non-financial aspects of reporting. Sustainability reporting also termed as Triple-bottom-line reporting, which means the company has now to report on non financial aspects like environmental, social, governance along with the economic aspect. This is evident by the release of the National voluntary guidelines on Social, Environmental and Economic responsibility of business (NVG-SEE) by Ministry of Corporate Affairs, India in 2011; followed by SEBI mandating Clause 55 of the listing agreement with stock exchange in India in 2012; making Business responsibility reporting (BRR) compulsory for the top 100 listed companies (by market capitalisation). These non financial aspects have been well incorporated by the Global Reporting Initiative (GRI); a non-profit organisation providing sustainability guidance.</em></p><p><em> </em></p><p><em>This paper is an attempt to study the comparative analysis of sustainability disclosure practices of Indian companies using GRI based index. The sustainability disclosures have been studies company-wise and Industry-wise. The study concludes that Indian companies have recognized the importance of sustainability reporting and the major companies are reporting on it. However, Indian companies do not give much consideration to their industries characteristics while disclosing information in their sustainability reports.</em></p></div>

The antecedents of corporate social and environmental responsibility discourse in Pakistan: Multiple theoretical perspectives

2019 ◽  
Author(s):  
Muhammad Farhan Basheer ◽  
Saqib Muneer ◽  
Muhammad Atif ◽  
Zubair Ahmad
Keyword(s):  
Institutional Theory ◽  
Least Squares ◽  
Agency Theory ◽  
Stakeholder Theory ◽  
Fixed Effects ◽  
Ordinary Least Squares ◽  
Environmental Responsibility ◽  
Legitimacy Theory ◽  
Discourse Practices ◽  
Corporate Social

The primary purpose of the study is to explore the antecedents of corporate social and environmental responsibilities discourse practices in Pakistan. The industry sensitivity, government shareholding, block holder ownership, print media coverage, environmental monitoring programs, and strategic posture are examined as antecedents of corporate social and environmental responsibility practices. A multidimensional theoretical perspective namely stakeholder theory (ST), institutional theory (IT), agency theory (PAT), and legitimacy theory (LT) is used to conceptualize the phenomena. All the four of perspective theories (positive accounting theory, legitimacy theory, stakeholder theory, and institutional theory) claim that there are ‘pressures’ that impact the organization. How much ‘pressures’ are recognized, managed or satisfied differs from one perspective of theory to the other. To estimate the data, this study uses three sets of panel data models, i.e., the pooled ordinary least squares model (POLS) or constant coefficients model, fixed effects (FEM or least squares dummy variable/LSDV model) and random-effects models. The final sample is comprising of 173 firms over eight years from 2011 to 2017. The firms listed in PSX are included in the sample. Overall the findings of the study have shown agreement with the proposed results. However, the study has provided more support to the institutional theory and stakeholder theory. Keywords: Corporate Social Responsibility, Stakeholders Theory, Agency Theory, Pakistan

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