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41. 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.
42. 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.
43. 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.
44. 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.
45. 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.
46. 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.
47. 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.
48. 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.
49. 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.
50. 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.