Essays on Corporate Governance and Social Responsibility PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Essays on Corporate Governance and Social Responsibility PDF full book. Access full book title Essays on Corporate Governance and Social Responsibility by Lukai Yang. Download full books in PDF and EPUB format.
Author: Lukai Yang
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages :
Get Book Here
Book Description
In the first essay, we study whether the increasingly large and concentrated ownership stakes by passive investors influence shareholders activism in the form of shareholder proposals. We find a positive association between passive ownership and the total number of proposals initiated, proposals with different types of sponsors, the rate of proposal withdrawal, vote-for percentage, and finally 1-year abnormal returns following the annual meeting date at which time the proposals were put forth. To mitigate endogeneity concerns, we use the Russell reconstitution as an exogenous shock. Our findings highlight the ability and power that passive investors have to affect corporate policy by supporting fellow shareholder sponsored proposals.In the second essay, we investigate the effectiveness of shareholder voice. In 2017, The Big Three institutional investors launched campaigns to increase gender diversity on corporate boards. We estimate that their campaigns led firms to add at least 2.5 times as many female directors in 2019 as they had in 2016 and to promote female directors to key board positions. Firms increased female representation by relying less on managers existing networks to identify candidates and by placing less emphasis on candidates executive experience. Our results highlight index investors ability to influence firms governance structures and shareholder advocacy's potential to expand women's participation in corporate leadership more extensively than government mandates. In the third essay, we examine whether and how local religiosity has an impact on corporate attitude towards corporate social responsibility (CSR) activities and how CSR activities directly impact firm value. Employing an extensive US sample from 1991 to 2015, we find that firms headquartered in more religious regions undertake a greater level of CSR activities. Furthermore, the CSR activities of firms located in highly religious regions are positively valued in the stock markets as we observe a positive association between CSR and Tobin's Q for the companies that are headquartered in high religious regions. The association is stronger when firms are less visible to non-local investors. This study enriches the emerging literature on the influence of local cultural factors on corporate behavior and encourages future research on the various aspects of how the local environment impacts firms ethical behaviors.
Author: Lukai Yang
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages :
Get Book Here
Book Description
In the first essay, we study whether the increasingly large and concentrated ownership stakes by passive investors influence shareholders activism in the form of shareholder proposals. We find a positive association between passive ownership and the total number of proposals initiated, proposals with different types of sponsors, the rate of proposal withdrawal, vote-for percentage, and finally 1-year abnormal returns following the annual meeting date at which time the proposals were put forth. To mitigate endogeneity concerns, we use the Russell reconstitution as an exogenous shock. Our findings highlight the ability and power that passive investors have to affect corporate policy by supporting fellow shareholder sponsored proposals.In the second essay, we investigate the effectiveness of shareholder voice. In 2017, The Big Three institutional investors launched campaigns to increase gender diversity on corporate boards. We estimate that their campaigns led firms to add at least 2.5 times as many female directors in 2019 as they had in 2016 and to promote female directors to key board positions. Firms increased female representation by relying less on managers existing networks to identify candidates and by placing less emphasis on candidates executive experience. Our results highlight index investors ability to influence firms governance structures and shareholder advocacy's potential to expand women's participation in corporate leadership more extensively than government mandates. In the third essay, we examine whether and how local religiosity has an impact on corporate attitude towards corporate social responsibility (CSR) activities and how CSR activities directly impact firm value. Employing an extensive US sample from 1991 to 2015, we find that firms headquartered in more religious regions undertake a greater level of CSR activities. Furthermore, the CSR activities of firms located in highly religious regions are positively valued in the stock markets as we observe a positive association between CSR and Tobin's Q for the companies that are headquartered in high religious regions. The association is stronger when firms are less visible to non-local investors. This study enriches the emerging literature on the influence of local cultural factors on corporate behavior and encourages future research on the various aspects of how the local environment impacts firms ethical behaviors.
Author: Carolin A. Althoff
Publisher:
ISBN:
Category :
Languages : de
Pages :
Get Book Here
Book Description
Author: Yefeng Wang
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Corporate Social Responsibility (CSR) is a broad management concern, it is not only critical to every aspect of modern business practice, but is also deeply incorporated into a company's daily operations via its values, norms, and decision-making process, etc. While there is an ever-increasing number of studies on CSR, many researchers have treated CSR as one single broad construct, its individual dimensions have been largely neglected. This dissertation takes the opportunity to address CSR by focusing on two dimensions: diversity and governance of three different entrepreneurial entities including clean-technology ventures, family firms in the United States and companies operate in emerging markets. In the first essay, I explore the impact of board diversity, female director representation, to be specific, on venture performance in the context of the clean-tech industry. I posit that appointing female board of directors can help clean-tech ventures overcome legitimacy constraints. I also examine the moderating effect of venture size and environmental ideology, such that this impact is stronger for small firms, and it is stronger for clean-tech ventures operating in a high level of environmental ideology state. In the second essay, I investigate how family involvement influences corporate diversity and how does corporate governance mechanism moderate such effect. The results suggest that family involvement decreases the overall corporate diversity, but family firms present more diversity-related concerns than non-family firms. Meanwhile, I suggest that the adoption of dual-class share decreases family firms' overall diversity. My third essay addresses the question of how corporate governance affect environmental information transparency directly and indirectly through seeking external verification, as well as how the legal and business environment moderates these relationships. I find that companies with strong corporate governance mechanisms are more likely to pursue external verification to alleviate traditional agency conflicts in the emerging markets. In addition, strong internal corporate governance leads to high environmental transparency directly and indirectly via seeking external verification. The legal and business environments moderate these relationships. Overall, these three essays in hopes of filling the gaps in the literature and advance the research in the areas of CSR, corporate governance, and entrepreneurship studies.
Author: Daniel Brennan
Publisher: Kluwer Law International B.V.
ISBN: 904113252X
Category : Law
Languages : en
Pages : 626
Get Book Here
Book Description
The current theory of corporate social responsibility (CSR) is developing along three interwoven lines - oral, social, and environmental. Although everybody recognizes that although CSR is of growing concern in a globalized economy, it being at the top of the board of director's agenda and also good for business, there is no sign of consensus on its rules, structures, or procedures. Now, this collection of essays by leading jurists, businesspeople, and academics takes a giant step toward a more cohesive and durable set of principles that can contribute to a cleaner environment and a better society while respecting and protecting the interests of all stakeholders.
Author: Minh Vu
Publisher: GRIN Verlag
ISBN: 3640706390
Category : Business & Economics
Languages : de
Pages : 13
Get Book Here
Book Description
Essay aus dem Jahr 2010 im Fachbereich BWL - Unternehmensethik, Wirtschaftsethik, Note: 1,6, Grenoble Ecole de Management, Sprache: Deutsch, Abstract: The Nobel Prize winner Milton Friedman was praised by The Economist (2006) as “the most influential economist of the second half of the 20th century...possibly of all of it". In 1970, he published an essay on the social responsibility of business in the New York Times Magazine. In his article, he explains in complex detail about the notion of “social responsibility” of businessmen within a corporate environment and their goal to increase profits. Indeed, at first glance, this quote seems to capture the mentality of many of the actors in the financial sector in our era. Banks and financial institutions are accused of acting unethically and only in their self-interest to increase profits along with brokers and investment bankers who are accused of primarily aiming high incentives and bonuses by selling unconscionably high-default assets. Scholars argued that corporate governance failings and lack of ethical behaviour were significant causes of the financial crisis of autumn 2008 (Skypala, 2008). This essay discusses the question whether the above statement made by famous economist Milton Friedman is still relevant in the context of business today and to what extent it is relating to the financial sector and in particular to the financial crisis of autumn 2008.
Author: Runa Sarkar
Publisher: Springer
ISBN: 9811031231
Category : Business & Economics
Languages : en
Pages : 228
Get Book Here
Book Description
This book offers a comprehensive overview of sustainability and management in India and through its insightful essays highlights the complex and multifaceted nature of sustainability as a concept. It also demonstrates the debates surrounding the concept of sustainability and its ramifications for ground-level practice in managing organisations and for public policy. The contributions from sustainability enthusiasts, practitioners from disparate fields and academics working at the Indian Institute of Management Calcutta, have been divided into five themes: (1) sustainability as a normative concept; (2) sustainability concept at the global level, (3) sustainability practices in Indian organisations and consumer behaviour; (4) sustainability, corporate governance and corporate social responsibility and (5) sustainability: a critique of organisational practice and government regulation. The themes reflect both new and continuing issues confronting management in the country today. Examples and in-depth studies make it relevant to the grounded reality in India. The expertise and experience of the contributors ensure that readers are left with a grasp of our current understanding of how sustainability is related to society and business, the direction this understanding will take in the future.
Author: Sage Publications
Publisher: SAGE
ISBN: 1412997224
Category : Business & Economics
Languages : en
Pages : 289
Get Book Here
Book Description
Designed to serve as a supplemental text for courses in business ethics, corporate social responsibility, corporate strategy, and organizational behaviour, this text is also an indispensible companion text for business students to use throughout their full programme of study. It provides objective coverage of key issues in corporate social responsibility, the obligation of companies to various stakeholder groups, the contribution of business to society and culture, and the relationship between organizations and the quality of the environment. Key features of the text include the following: A Reader's Guide that explains how to use the volume Keyword entries featuring comprehensive essays on such crucial topics as strategic corporate social responsibility, strategic philanthropy, corporate social performance, and social audits. A listing of references and suggested readings for each entry, so that readers can find more information on topics of particular interest.
Author: Malcolm McIntosh
Publisher: Routledge
ISBN: 1351284223
Category : Business & Economics
Languages : en
Pages : 250
Get Book Here
Book Description
The theory and practice of corporate citizenship and CSR have many alternative perspectives to the business-as-usual gaze. The essays in this volume encapsulate the essence of these alternative ideas and embrace the idea that progressive ways and means of this century do not lie in mainstream capitalist thinking. These pieces ask critical questions about the way we see the relationship between capitalism, business models and society – a subject not often discussed in non-academic literature. Globalization and Corporate Citizenship: The Alternative Gaze features contributions and new analysis from Klaus M. Leisinger, Chris Laszlo, David Coopperrider, Simon Zadek, Sandra Waddock and others. This title is one of a two-volume set – a collection of seminal and thought-provoking essays, drawn from the Journal of Corporate Citizenship’s archive, accompanied by new analysis and reflection from the original authors. Written by some of the most widely recognized academic and business pioneers and leaders of the corporate responsibility and global sustainability movement, the volumes make essential reference texts for anyone interested in the radically awakening new global political economy.
Author: Dimitri Tsiganovski
Publisher:
ISBN: 9783346026859
Category :
Languages : en
Pages : 34
Get Book Here
Book Description
Essay from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, University of South Wales, language: English, abstract: Every organisation usually has its own individual strategy in order to achieve its main objectives. Nevertheless, every organisation is also influenced by environmental issues which have an impact on its performance, financial development, growth or in particular its reputation. With regard to the last key word, there is strong debate whether it is a beneficial measure for an organisation to include Corporate Social Responsibility (CSR) to gain strategic and competitive advantages (Ceglinski and Wisniewska, 2016, p. 11) on a long-term basis or whether CSR is just its reaction to environmental issues but without any strategic benefit. Firstly, this essay will clarify the historical development of CSR, its importance for current organisations in general and which environmental issues give them a reason to include CSR in their daily business under consideration of the increasing public demand for an organisation's ethical awareness with regard to its activities. Secondly, it will afterwards critically compare the theories of Milton Friedman and Edward Freeman with regard to CSR in order to analyse whether an organisation can even have social responsibilities considering the fact that companies have different strategic orientations in the business area they are operating in. Thirdly, it will critically evaluate the direct strategic benefits of CSR and also the risks and disadvantages for an organisation that might occur of its implementation. Finally, the conclusion will clarify whether there is a clear strategic benefit in CSR for an organisation or whether the main focus of CSR are the environmental influences.
Author: René Schmidpeter
Publisher: Springer
ISBN: 3030048195
Category : Business & Economics
Languages : en
Pages : 341
Get Book Here
Book Description
This book provides a rich collection of essays discussing and showcasing the transformation of businesses around the world towards sustainability and responsibility. Based on a framework of global theoretical approaches, it presents practical examples and cases from a variety of industries, regions and corporate functions. It also highlights the latest insights on how corporations consider sustainability in the governance of their respective organization. Furthermore, the book features a section dedicated to responsible finance, and outlines business and management-driven approaches that contradict the traditionally held belief that a trade-off exists between sustainability, social responsibility and profit.
