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21. International Corporate Responsibility Series: Volume > 3
Daylian M. Cain, George Loewenstein, Don A. Moore The Dirt on Coming Clean: Perverse Effects of Disclosing Conflicts of Interest
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Conflicts of interest can lead experts to give biased and corrupt advice. Although disclosure is often proposed as a potential solution to these problems, we show that it can have perverse effects. First, people generally do not discount advice from biased advisors as much as they should, even when advisors’ conflicts of interest are disclosed. Second, disclosure can increase the bias in advice because it leads advisors to feel morally licensed and strategically encouraged to exaggerate their advice even further. As a result, disclosure may fail to solve the problems created by conflicts of interest and may sometimes even make matters worse.
22. International Corporate Responsibility Series: Volume > 3
Irina Soboleva Corporate Social Responsibility in Russia: Peculiarities and Problems
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Corporate social responsibility (CSR) has been a subject of broad public and academic discussion in Russia for several years now. The author argues that the key criterion for CSR is direct (non-market-based) cooperation among all stakeholders, cooperation that to a large extent shapes the behavior of the firm and therefore includes ethical and social concerns in the decision-making process. On the basis of this criterion, three levels of CSR are distinguished. The main factors that are gradually shaping the Russian model of CSR are emphasized. It is shown that lack of state social expenditure and a coherent system of benefits for socially responsible firms, coupled with the persistence of paternalistic relations, hinder and bias the development of socially responsible behavior at all levels.The author argues that CSR practices can be effectively realized only if accompanied by a coherent state social policy.
23. International Corporate Responsibility Series: Volume > 3
Gwendolyn Yvonne Alexis Coming Home to Roost: Offshore Operations from an In-House Perspective
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Greatly aided by an information age in which protesting laborers in a remote offshore outpost can capture front page headlines around the globe, theSarbanes-Oxley Act of 2002 (SARBOX) has made corporate transparency the linchpin for good corporate governance. Under a SARBOX-enhancedregulatory framework, publicly traded corporations are required to rapidly disclose material changes in their financial conditions or operations—changes such as impairments to goodwill, a trademark, or some other intangible corporate asset. Especially challenging for multinational corporations (MNCs) with far-flung corporate empires is the need to stay abreast of the ebb and flow of goodwill, at a time when transnational human rights groups are aggressively mobilizing world opinion against the sweatshop labor conditions that abound at the offshore production sites favored by MNCs. The author explains why the convergence of a digital age of free-flowing information and the advent of SARBOX, a legislative enactment of paraenetic design, is causing the boards of MNCs to more critically evaluate the long-term costs of their offshore operations.
24. International Corporate Responsibility Series: Volume > 3
Pat Auger, Timothy Devinney, Jordan Louviere Measuring the Importance of Ethical Consumerism: A Multi-Country Empirical Investigation
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This paper describes the results of several large empirical studies that investigated the impact of social product attributes on consumer purchase intentions. Our results show that some consumers are willing to pay for more socially acceptable products, but that most of those consumers do not think about the social product features of the products they purchase. Furthermore, our analyses demonstrate that consumers can be segmented based on their preferences for (or against) social product features and that these segments are not country-specific.
25. International Corporate Responsibility Series: Volume > 3
Elbe M. Kloppers, Henk J. Kloppers Skills Development as Part of CSR: A South African Perspective
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In this paper it is argued that no CSR program can be successful in a development context in general, and in South Africa in particular, unless skills development and therefore empowerment is integrated in every part of the program. The Chinese proverb, “give a man a fish and he will eat for a day; teach him to fish and he will eat for a lifetime,” is the theme of this paper. While it is good to provide people with financial and other means in order to help them, sustainable development cannot be achieved if people are not equipped with the necessary skills to use these means, and thereby empowered to provide for themselves and others in the future.
26. International Corporate Responsibility Series: Volume > 3
Walden Bello The Capitalist Conjuncture: Overaccumulation, Financial Crises, and the Retreat from Globalization
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This article argues that the key crisis that has overtaken today’s global economy is the classical capitalist crisis of over-accumulation. Reaganism and structural adjustment were efforts to overcome this crisis in the 1980s, with little success, followed by globalization in the 1990s. The Clinton administration embraced globalization as the “Grand Strategy” of the United States, its two key prongs being the accelerated integration of markets and production by transnational corporations and the creation of a multilateral system of global governance, the pillars of which were the World Trade Organization, the International Monetary Fund and the World Bank. The goal of creating a functionally integrated global economy, however, stalled, and the multilateral system began to unravel,thanks among other things to the multiple crises created by the globalization of finance, which was the main trend of the period. In response partly to these crises, partly to increasing competition with traditionally subservient centre economies, and partly to political resistance in the South, Washington under the Bush administration has retreated from the globalist project, adopting a nationalist strategy consisting of disciplining the South through unilateralist military adventures, reverting to methods of primitive accumulation in exploiting the developing world, and making other centre economies bear the brunt of global adjustments necessitated by the crisis of over-accumulation.
27. International Corporate Responsibility Series: Volume > 3
Jacob Park China’s Rapid Industrialization and its Sustainability Discontents: Understanding the Strategic Implications for Business
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Despite the attention given to China’s rising importance in the international marketplace, I argue that corresponding attention has not been given to the sustainability dimensions—the social and environmental dimensions of this economic development trajectory. Specifically, what type of business strategy can and will best serve the economic, environmental, and social needs of China, and what role, if any, can the private sector play to facilitate the development of such a strategy? In exploring this question, I first examine the evolving relationship between business and sustainable development. I then outline the sustainability challenge within the regional context in the Asia-Pacific region. Finally, I analyze sustainability challenges posed by China’s rise in the global economy and assess the impacts of these challenges on current and future business strategies.
28. International Corporate Responsibility Series: Volume > 3
Liu Goggin, Aidan Kelly, John F. Hulpke Good Guanxi, Bad Guanxi?: Drawing the Line
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Guanxi is essential to doing business in China. Even those who are minimally familiar with business in the People’s Republic seem to know this. How should Western business organizations look at guanxi? Further, if guanxi is seen as essential, what is the responsible approach to guanxi building? These questions may have different answers depending on one’s perspectives. First, what is guanxi?
29. International Corporate Responsibility Series: Volume > 3
Betty Dee Makani-Lim, Felix Chan Lim Corporate Responsibility as a Strategic Element in the Systemic Approach to Sustainable Community Health Care
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This paper presents the critical role of corporate responsibility in the sustainability of health care programs in lower income communities mostly located in the rural areas. The Leaders for Health Program (LHP)—a tri-partite partnership between the Philippine Department of Health, the Health Unit of the Ateneo de Manila University Graduate School of Business, and Pfizer Philippines, Inc.—is an innovative approach focusing on health promotion and education as the cornerstone for community development. LHP adopts a systemic and comprehensive approach that takes into consideration all the major stakeholders in health, especially in rural communities. This paper aims to support the viability of education as the main catalyst for community empowerment and self-sufficiency.
30. International Corporate Responsibility Series: Volume > 3
Vladimir Petkoski From International Corporate Responsibility to Local CSR: Empirical Evidence from Macedonia
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While the concept of Corporate Social Responsibility (CSR) is based predominantly on the experiences of developed countries, the context in developing countries differs greatly, varying according geography, culture, and level of development. A survey was conducted in Macedonia with the aim of determining the local context and specifics of CSR through an analysis of four elements: the rule of law, competition and standards, complementary CSR institutions, and internal corporate structures and practices. It showed that an increasing number of companies are starting to consider CSR as an investment and not simply as a cost.
31. International Corporate Responsibility Series: Volume > 3
Christopher S. Miller, Silvia M. King Southern Company: A Case Study in Corporate Responsibility Leadership
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This paper reviews the experience of an integrated approach to CSR in the U.S. electric utility sector. The authors report on the results of Southern Company’s historical definition of CSR as a dynamic model, balancing stakeholder needs through shifting pressures to assure long-term shareholder value, superior customer, price performance, and sustainable economic development. Using financial and utility sector measures, the paper assesses the company’s “balancing” approach to addressing CSR, which weights corporate, environmental, community, and economic factors in driving successful and sustained financial, social, and environmental performance. The paper concludes by suggesting that CSR success in this sector requires, first, that the global warming issue be governed by the same balancing considerations to which all stakeholders and their legitimate interests are subject, and second, an energy policy that embraces both atechnology policy and appropriate regulatory incentives.
32. International Corporate Responsibility Series: Volume > 3
Maria Lai-Ling Lam A Study of the Transfer of Corporate Social Responsibility from Well-Established Foreign Multinational Enterprises to Chinese Subsidiaries
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The study is designed to examine the perceptions of Chinese executives of corporate social responsibility (CSR) and to explore possible strategies by which well-established foreign multinational enterprises can carry out their CSR in China. The interviewees’ interpretation of CSR is found to be oriented toward internal operations of the Chinese subsidiaries and economic responsibility. Many interviewees have the classical view of CSR, while headquarters has the modern view. The main problems of implementing CSR are: specific Chinese business culture, intellectual property rights, internal due process, and insufficient Chinese government support. It is recommended that socialization of Chinese executives about CSR be accomplished through personnel transfer among various functional areas in the corporate system, the development of a just organizational culture in the Chinese subsidiaries, and collaboration with external partnersthat advocate CSR.
33. International Corporate Responsibility Series: Volume > 3
Nicholas Capaldi Corporate Social Responsibility in Developing Countries in a Global Market Economy
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Every firm or corporation faces both political and social transaction costs. The existence of political transaction costs is one reason firms, and even whole industries, employ lobbyists. CSR is an example of a social transaction costs. CSR means serving social and political interests without direct remuneration but in a way that is consistent with and indirectly serves long-term investor value; it is not philanthropy. Some will argue that the firm is not really being responsible or generous but only serving its own long-term interest. But that is precisely the point. The reasons this category of CSR must be introduced are that (1) it is obscured by the classical liberal perspective, sometimes to the detriment of the shareholders; (2) failure to recognize it, obfuscates the role of management, part of which is to look at a macro-context that includes more than markets; and (3) it misses the important extent to which business leaders can, may, and should have a vital role in formulating public policy.
34. International Corporate Responsibility Series: Volume > 3
David Rygl, Markus G. Kittler, Carina Friedmann Fighting HIV/AIDS: The Role of the Pharmaceutical Industry and the Sustainability of its Actions in Sub-Saharan Africa—An Empirical Investigation
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Since the first diagnosis of an HIV infection in 1956, the number of victims infected with the virus has dramatically increased to 40.3 million in 2005. The countries of sub-Saharan Africa carry the largest burden of HIV/AIDS worldwide. Various programs against the spread of the epidemic in this region have been promised. The objective of this article is to analyze to what extent these programs can achieve a sustainable effect. This article examines in detail the sustainability of thirteen programmes initiated by large American and European pharmaceutical companies. It finds that none of the examined programs offers a fully sustainable solution. However, programs that were organized in cooperation with local authorities or organizations appear suitable to reach sustainable effects in high-prevalencecountries. As a result, cooperation seems to be an important prerequisite to implement the infrastructural measures necessary to guarantee sustainable effects in sub-Saharan Africa.
35. International Corporate Responsibility Series: Volume > 3
Loke Min Foo Third Way CR and Third World CR: In What Way Should Responsible Corporations Serve the World?
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This paper distinguishes norms for corporate responsibility in developed and developing countries. In the former, corporate responsibility should reflect “ Third Way” values of restoring individual responsibility and social relationship, and these can be achieved through stakeholder engagement. Since stakeholder engagement often presumes an adequate level of individual rights and rule-governed behaviour, it is incompatible with the current political and cultural characteristics of developing countries. This paper suggests that the end of CR initiatives in developing countries is to promote stakeholder rights and good governance, while the means is through stakeholder empowerment.
36. International Corporate Responsibility Series: Volume > 3
Ying Hua, Xiaodi Yang Case Study of Lafarge China and Shui On Cement: Emission-Related CSR in the Chinese Cement Industry
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The cement industry is one of the most energy-intensive industries and among the largest CO2 emitters. Cement industry emissions in China have attracted particular attention, due to the country’s rapid growth. Yet few local Chinese cement companies have corporate social responsibility (CSR) programs, and even fewer have environmentally related CSR programs. This paper studies the environmentally related CSR practices in mainland China of two companies: Lafarge, a multinational cement company, and Shui On, a Hong Kong-based construction company and developer. We are interested in examining if there are differences in their environmentally related CSR practices, especially those related to emissions, in industrialized countries and Hong Kong on the one hand andin mainland China on the other—given that environmental regulations on the mainland are lax and an awareness of global climate change is largely nonexistent. Our intention is to investigate the influence of the CSR practices of multinational enterprises (MNEs) on the local Chinese cement industry, because they could be regarded as an effective vehicle to improve CSR awareness and practice in the Chinese cement industry and to help alleviate the industry’s impact on global climate change. We found that beneficial knowledge transfer from MNEs to local companies has not gone beyond improving production technology and management methods to the point of influencing CO2 emissions. Lafarge China and Shui On Cement announced a joint venture partnership during the course of our case study, and we examine whether this venture may have an impact on emission-related CSR practices in the Chinese cement industry.
37. International Corporate Responsibility Series: Volume > 3
Stephen Yan-Leung Cheung, J. Thomas Connelly, Piman Limpaphayom Determinants of Corporate Disclosure and Transparency: Evidence from Hong Kong and Thailand
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This study examines the degrees of corporate disclosure and transparency of publicly listed companies in two emerging markets and analyzes corporatedisclosure practices as a function of specific firm characteristics. The analysis uses the disclosure and transparency scores extracted from a survey instrument designed to rate disclosure practices of publicly listed companies by using the OECD Corporate Governance Principles as an implicit benchmark. Empirical results show that financial characteristics explain some of the variation in the degrees of corporate disclosure for firms in Hong Kong but not for firms in Thailand. Further, corporate governance characteristics, such as board size and board composition, show more significant associations with the degrees of corporate disclosure inThailand than in Hong Kong. The results are broadly consistent with the notion that good corporate governance leads to better corporate disclosure and transparency in less developed markets.
38. International Corporate Responsibility Series: Volume > 4
Venkatesh Seshamani International Corporate Responsibility in the Context of Development: The Case of the Mining Sector in Zambia with Special Reference to Indian and Chinese Investments
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Development is a process of achieving a right balance between economic growth and psychic income growth. A foreign investor’s manner of conducting business in a country could result in any of four scenarios in which economic/psychic income is low/inadequate, high/inadequate, low/adequate, or high/adequate. Foreign investment will contribute to development only if it reflects the fourth scenario. A responsible corporation can contribute to money income and more importantly to psychic income of a company’s workers. This paper examines the corporate responsibility performance of Indian and Chinese investments in Zambia’s mining sector. The paper finds that while Chinese companies seem to be operating close to the first scenario, Indian companies are operatingbetween the first and fourth. Thus, neither of them is contributing to true development.
39. International Corporate Responsibility Series: Volume > 4
Alejo José G. Sison, Joan Fontrodona Corporate Governance in IDOM: An Example of a Corporate Polity
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Aristotle indicates that although a monarchy is the best form of government in theory, in practice, a polity (“mixed regime”) is best. IDOM Engineering Consultancy is presented as an example of a “corporate polity.” In this case study, stories and rationales behind the institutionalization of worker participation in ownership and management are discussed. Arguments in favor of the corporate common good as the firm’s overarching concern are proffered. Legal challenges as well as those arising from the company’s growth and overseas expansion are studied.
40. International Corporate Responsibility Series: Volume > 4
Daniel W. Skubik Fethullah Gülen, Islamic Banking, and Global Finance
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Fethullah Gülen, a leader of interfaith and intercultural dialogue, writes of “humanity’s vicegerency” that includes “reaping the bounties of the Earth . . . within the framework of the Creator’s orders and rules.” What might this mean for international business ethics in general, and the expansion of Islamic banking practices and global financial ethics in particular? Forthrightness and transparency are critical in the contemporary development and spread of what are nominated Islamic or shariah-compliant financial products and services. This paper seeks to explore the advantages of acceptably disparate analyses of shariah-compliance, by suggesting how a Gülen-like religion-state symphonia can evolve. The resulting arrangement of financial affairs would thus allow for real diversity inbanking options for all sorts of clients, carving out a space for secular and religious-based institutions, alike, in the global marketplace.