Foreign Direct Investments, Corporate Social Responsibility, and Economic Development

2019 ◽  
pp. 250-273
Author(s):  
James O. Odia
Keyword(s):  
Economic Development ◽  
Positive Impact ◽  
Regulatory Compliance ◽  
Local Communities ◽  
Foreign Direct Investments ◽  
Corporate Accountability ◽  
Beneficial Impact ◽  
Societal Problems ◽  
Corporate Social ◽  
Societal Expectations

The increase in FDIs to developing countries has also been accompanied with rising societal expectations from the MNCs and TNCs to demonstrate more commitments to CSR. Owing to the natural resources curse, there is increasing expectations by governments, investors, consumers and local communities that businesses, particularly the MNCs and TNCs, should go beyond local regulatory compliance to earn their ‘license to operate' by demonstrating that their operations provide a beneficial impact by helping to remedy the societal problems. Although it is doubtful whether businesses will take up such responsibilities, some companies have started to engage in sustainable CSR in area of operations. Therefore, the paper recommends that conscious and sustainable CSR practices of these MNCs/TNCs must be accomplished with corporate accountability in order to have the greatest positive impact on people, environment and foster economic development.

Foreign Direct Investments, Corporate Social Responsibility, and Economic Development

2016 ◽  
pp. 228-251 ◽  
Author(s):  
James O. Odia
Keyword(s):  
Economic Development ◽  
Positive Impact ◽  
Regulatory Compliance ◽  
Local Communities ◽  
Foreign Direct Investments ◽  
Corporate Accountability ◽  
Beneficial Impact ◽  
Societal Problems ◽  
Corporate Social ◽  
Societal Expectations

The increase in FDIs to developing countries has also been accompanied with rising societal expectations from the MNCs and TNCs to demonstrate more commitments to CSR. Owing to the natural resources curse, there is increasing expectations by governments, investors, consumers and local communities that businesses, particularly the MNCs and TNCs, should go beyond local regulatory compliance to earn their ‘license to operate' by demonstrating that their operations provide a beneficial impact by helping to remedy the societal problems. Although it is doubtful whether businesses will take up such responsibilities, some companies have started to engage in sustainable CSR in area of operations. Therefore, the paper recommends that conscious and sustainable CSR practices of these MNCs/TNCs must be accomplished with corporate accountability in order to have the greatest positive impact on people, environment and foster economic development.

scholarly journals Cultural Initiatives and Local Development: A Basis for Inclusive Neighborhood Revitalization

2019 ◽  
Vol 4 (1) ◽  
pp. 78-90
Author(s):  
Juan-Luis Klein ◽  
Diane-Gabrielle Tremblay ◽  
Laurent Sauvage ◽  
Leila Ghaffari ◽  
Wilfredo Angulo
Keyword(s):  
Economic Development ◽  
Latin America ◽  
North America ◽  
Positive Impact ◽  
Local Development ◽  
Local Communities ◽  
Local Economy ◽  
Neighborhood Revitalization ◽  
Socio Economic Development ◽  
The Impact

This article focuses on cultural and creative activities and the development of local communities. Several studies on North America, Europe and Latin America have shown that this type of activity may have a positive impact on the local economy and living environments, and in particular on the sense of territorial belonging and on relations between citizens. In this text, we propose a reading of the impact of neighborhood cultural initiatives in the context of local socio-economic development based on a set of indicators of the local cultural vitality of a neighborhood. The empirical research was carried out in Montreal, namely on two boroughs: Rosemont–La Petite-Patrie and Sud-Ouest.

Social responsibility-related governance disclosure: exploration of managerial perspective in a developing country

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yousuf Kamal
Keyword(s):  
Social Responsibility ◽  
Information Disclosure ◽  
Annual Reports ◽  
Corporate Accountability ◽  
Content Type ◽  
Corporate Managers ◽  
Corporate Executives ◽  
Audit Reports ◽  
Corporate Social ◽  
Societal Expectations

Purpose This study aims to explore corporate managers’ perspectives regarding the disclosure (non-disclosure) of social- and environment-related governance information. Design/methodology/approach Insights into corporate managers’ perspectives are explored by conducting in-depth personal interviews with senior corporate executives of textile and garment companies in Bangladesh. Findings This study establishes that the use of traditional media, such as corporate annual reports, for corporate social responsibility (CSR)-related governance information disclosure can be limited in particular situations, including the case of garment companies, wherein the provision of extensive governance information is necessary, and the information users find special purpose reports, e.g. social audit reports, more comprehensive, credible, and beneficial than annual reports. The results reveal that corporate managers of Bangladeshi supply companies are motivated by financial returns, and they aspire to ensure that buyers (powerful stakeholders) obtain the required CSR-related governance information; this is neither driven by corporate accountability nor transparency. Upon using the managerial branch of the stakeholder theory, the result of this study shows that corporate managers are influenced by powerful stakeholders when they make decisions vis-à-vis the provision of CSR-related governance information. Originality/value This study provides an implication for academics and practitioners toward understanding that corporate managers often provide substantive disclosures of CSR-related governance information through alternative media that have not been previously documented in the literature. Herein, a metaphor – veil – is used to illustrate the visibility gap between societal expectations and managers’ perspectives.

Transational Corporations

2021 ◽  
pp. 126-146
Keyword(s):  
High Performance ◽  
Positive Impact ◽  
Transnational Corporations ◽  
Foreign Direct Investments ◽  
Host Countries ◽  
Public Authorities ◽  
National Interests ◽  
Performance Technology ◽  
Economic Agents ◽  
Corporate Social

The money transfer internationally has generated a metamorphosis of the world economy under the supremacy of transnational corporations. The inflows of foreign capital into the host countries' economies is considered a solution to the multiple problems faced, especially by developing countries – unemployment, lack of monetary funds, or high-performance technology. The presence of transnational corporations in the economies of the host countries has proved to be not always beneficial for them, as there are significant discrepancies between their interests as economic agents and national interests. For this reason, the attitude of the public authorities towards foreign direct investments has been nuanced, and differentiated financial and fiscal incentives have been established to maximize their positive impact. Over time, specialists have drawn attention to the negative externalities generated by transnational corporations. International organizations like the UN or the OECD are involved in improving the global corporation's workings to promote corporate social responsibility.

scholarly journals Dampak Pengembangan Desa Wisata Nglanggeran Terhadap Ekonomi Masyarakat Lokal

2017 ◽  
Author(s):  
Hary Hermawan
Keyword(s):  
Economic Development ◽  
Community Involvement ◽  
Local Community ◽  
Negative Impact ◽  
Positive Impact ◽  
Local Communities ◽  
Local Economy ◽  
Rural Tourism ◽  
Tourist Village ◽  
The Village

Research on the effects of economic development of rural tourism to the local community is a kind of descriptive qualitative research. This research was conducted in the village of Nglanggeran, District Pathuk, Gunung Kidul, Yogakarta. The survey results revealed that the development activities of the Tourism Village Nglanggeran considered quite good, the main indicator is the average increase in tourist arrivals sizeable year-on-year. The readiness of local communities in terms of education, knowledge, and level of community involvement in the development of rural tourism shows that the public has been sufficiently prepared to deal with potential impacts that arise. The level of development of tourism which generates high frequency level of interaction between local communities and the frequent travelers, which is an average of more than 5 times the interaction per 3 months. The results showed that developing a tourist village bring a positive impact to the economic development of local communities in the village Nglanggeran, including: increased public income; increase employment and business opportunities; increase ownership and control of local communities; increase government revenues through travel levy. While indications of a negative impact on the local economy in the form of rising prices of goods can not be found.

scholarly journals Economic development trends in the EU tourism industry. Towards the digitalization process and sustainability

2020 ◽  
Author(s):  
Beata Zofia Filipiak ◽  
Marek Dylewski ◽  
Marcin Kalinowski
Keyword(s):  
Economic Development ◽  
Negative Impact ◽  
Positive Impact ◽  
Local Communities ◽  
Tourism Industry ◽  
Gdp Growth ◽  
Factors Affecting ◽  
Economy Growth ◽  
Tourism Economy ◽  
The Eu

Abstract From an economic viewpoint, tourism is heralded as bringing income to local communities. From an ecological standpoint, tourism poses a threat to environments. Sustainable tourism should leave a minimum negative impact on the places visited and preferably have rather positive impact on society. The digitization of the tourism economy is conducive to increasing the efficiency of enterprises operations, but also have positive impact on consumers. The objectives of the study are: to seek an answer to the question whether there is a relationship between the development of the tourism industry and GDP growth. Based on it there are two specific questions: What is a relationship between the level of development of digitization (e-commerce) and the development of the tourism industry and what is a relationship between the development of the tourism industry and sustainability factors? The originality of our research results among others results from three groups of variables use in the analysis (ICT group, SDG group and E&T group). Our research explores the factors affecting the tourism industry and relations of the digitization of tourism economy, sustainability and economy growth.

IMPACT OF GOVERNMENT DEBT ON FINANCIAL SECURITY OF UKRAINE

2017 ◽  
Author(s):  
Olena Pikaliuk ◽  
◽  
Dmitry Kovalenko ◽  
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Positive Impact ◽  
The State ◽  
Financial Security ◽  
State Budget ◽  
The Public ◽  
Debt Security ◽  
The Stability ◽  
The Impact

One of the main criteria for economic development is the size of the public debt and its dynamics. The article considers the impact of public debt on the financial security of Ukraine. The views of scientists on the essence of public debt and financial security of the state are substantiated. An analysis of the dynamics and structure of public debt of Ukraine for 2014-2019. It is proved that one of the main criteria for economic development is the size of public debt and its dynamics. State budget deficit, attracting and using loans to cover it have led to the formation and significant growth of public debt in Ukraine. The volume of public debt indicates an increase in the debt security of the state, which is a component of financial security. Therefore, the issue of the impact of public debt on the financial security of Ukraine is becoming increasingly relevant. The constant growth and large amounts of debt make it necessary to study it, which will have a positive impact on economic processes that will ensure the stability of the financial system and enhance its security.

Commonalities and differences of tax systems in West Balkan countries Comparative analysis

2015 ◽  
Vol 3 (1) ◽  
pp. 155 ◽  
Author(s):  
Teuta Balliu ◽  
Aida Gaçe Llozana
Keyword(s):  
Economic Development ◽  
Comparative Analysis ◽  
Foreign Direct Investments ◽  
Fiscal Policies ◽  
Fiscal Discipline ◽  
Tax System ◽  
Revenue Collection ◽  
Balkan Countries ◽  
The Subject ◽  
Tax Systems

Countries of former Yugoslavia and Albania are considered as countries with many common problems as well as changes, which in this context are regarded as insignificant. On their way towards development, these countries are characterized by common problem, among which the most sensitive have been and still remain, unemployment, increasingly compressed public administration, unjustified optimism when planning the budget, mismanagement of public finances and poor fiscal discipline which mostly depends on being or not an election year. In these countries we notice the lack of harmony between economic and fiscal policies and the real needs of the economy. This is seen as other major common ofWest Balkan countries. This similiarity of problems narrows the possibility of competition associated to the foreign investment absorbing capacity. But, which is the moacroeconomic picture in the countries of West Balkan? What are their tax systems? How much are the foreign direct investments? Does the tax system serve as a promoter for these invvestments? This paper represents a comparative analysis of the fiscal systems in the countries of this region. The subject of this paper is the protection with arguments of the economic and fiscal policy which are built for the economic development of a country. This because we are given that there are two types of experiences related to tax system, one of which handles taxes as instruments for revenue collection and the other as a promoter factor for economic development.

Prinsip Dasar Ekonomi Dan Bisnis Dalam Islam

AKADEMIKA ◽  
2015 ◽  
Vol 9 (1) ◽  
pp. 69-77
Author(s):  
Misbahul Khoir
Keyword(s):  
Economic Development ◽  
Economic System ◽  
Human Behavior ◽  
Business Performance ◽  
Positive Impact ◽  
Economic Life ◽  
Universal Values ◽  
The Government ◽  
Islamic Economic ◽  
And Behavior

In order for humans could reach the so-called falah (goodness), human behavior needs to be colored with the spirit and norms of Islamic economics reflected in its values. The principles and values of Islamic economics are considerably two inseparable things. The implementation of economic principles without being colored with values or values without being based on principles could keep people far away from their purpose, namely falah. The implementation of values not based on principles will tend to bring with it the normative economics, which would cause it trapped into injustice. While the implementation of values on the Islamic economic development is based on the five universal values, namely akidah (belief), 'adl (justice), nubuwwah (prophetic), khilafah (the government), and ma'ad (results). The five principles are used as the basis for building theories of Islamic economics. But strong and adequate theories not applied into a system will make the Islamic economics just as the study of science without giving positive impact on the economic life. Therefore, based on the five universal values, the three derivative principles should be built into the characteristics and the forerunner of the Islamic economic system. The Islamic economic system makes sure that there are no economic transactions that are contrary to the Shari'a. But business performance depends on the man behind the gun. For that reason, the economic actors within this framework could be held by non-Muslims. The Islamic economics could only be developed if the mindset and behavior of Muslims are already itqan (diligent) and ihsan (professional). It "may be" one of the secrets of the Prophet's statement, saying "Truly I was sent to perfect good character". Because good character could be an indicator of knowing good or bad behavior in determining both the success and the failure of business itself.

Human potential in the system of social and economic development: problems and prospects of Vinnytsia region

2020 ◽  
pp. 71-80
Author(s):  
Olesya Tomchuk
Keyword(s):  
Economic Development ◽  
Human Development ◽  
Rural Areas ◽  
Structural Changes ◽  
Agricultural Sector ◽  
Positive Impact ◽  
Well Being ◽  
Human Potential ◽  
High Tech ◽  
Social And Economic Development

The article highlights the problems and prospects of human development, which is the basis for the long-term strategies of social and economic growth of different countries and regions at the present stage. Submitting strategies of this type provides an opportunity to focus on individual empowerment and to build a favorable environment for effective management decisions in the field of forming, maintaining, and restoring human potential. The analysis of the Vinnytsia region human potential dynamics in the regional system of social and economic development factors was carried out. Application of generalized assessment of the regional human development index components allowed the identification of the main trends that characterize the formation of human potential of the territory, including the reproduction of the population, social environment, comfort and quality of life, well-being, decent work, and education. The article emphasizes that despite some positive changes in the social and economic situation of the region and in assessing the parameters of its human development level relative to other regions of Ukraine, Vinnytsia region is now losing its human potential due to negative demographic situation and migration to other regions and countries. The main reason for such dynamics is proven to be related to the outdated structure of the region's economy, the predominance of the agricultural sector, the lack of progressive transformations in the development of high-tech fields of the economy. An important factor is the low level of urbanization of the region, which leads to the spread of less attractive working conditions and less comfortable living conditions. The key factors that cause the growth of urbanization in the region have been identified, including the significant positive impact of the transport and social infrastructure expansion, the lack of which in rural areas leads to a decrease in the level and comfort of life. Without progressive structural changes in the economy and the resettlement system, the loss of human potential will continue.

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