Corporate Social Responsibility Across the Globe Innovative Resolution of Regulatory and Governance Challenges
Book contents
- Corporate Social Responsibility Across the Globe
- Corporate Social Responsibility Across the Globe
- Copyright page
- Epigraph
- Contents
- Figures
- Table of Cases
- Table of Legislation
- 1 Introduction: The Centrality of Regulation in Corporate Responsibility
- Part I Regulation Concepts, Paradigms and Approaches for Corporate Social Responsibility
- Part II Infusing Corporate Social Responsibility in Corporate Governance
- Part III Stimulating Private Regulation of Corporate Social Responsibility
- 8 Shareholders, Institutional Investors and Socially Responsible Investment
- 9 Professional Advisory Services and CSR Responsibilisation, Accountability and Transparency
- 10 Inventive Interventionist Regulation of Transnational Business, Sport, Cultural and Entertainment Organisations
- References
8 - Shareholders, Institutional Investors and Socially Responsible Investment
from Part III - Stimulating Private Regulation of Corporate Social Responsibility
Published online by Cambridge University Press: 15 June 2023
Book contents
- Corporate Social Responsibility Across the Globe
- Corporate Social Responsibility Across the Globe
- Copyright page
- Epigraph
- Contents
- Figures
- Table of Cases
- Table of Legislation
- 1 Introduction: The Centrality of Regulation in Corporate Responsibility
- Part I Regulation Concepts, Paradigms and Approaches for Corporate Social Responsibility
- Part II Infusing Corporate Social Responsibility in Corporate Governance
- Part III Stimulating Private Regulation of Corporate Social Responsibility
- 8 Shareholders, Institutional Investors and Socially Responsible Investment
- 9 Professional Advisory Services and CSR Responsibilisation, Accountability and Transparency
- 10 Inventive Interventionist Regulation of Transnational Business, Sport, Cultural and Entertainment Organisations
- References
Summary
The chapter argues that socially responsible investment (SRI) can be linked to long-term financial success and therefore should be part of the corporate social responsibility (CSR) strategy of investors. It shows how capital providers, including ordinary shareholders, institutional investors and socially responsible investors, can provide the stimulus for improvements in CSR standards and performance. The chapter traces the origins of SRI and investigates the range of powers and responsibilities, procedures and opportunities that can be applied to encourage a greater degree of participation of different kinds of investor, particularly institutional investors, in SRI.
Keywords
- Type
- Chapter
- Information
- Corporate Social Responsibility Across the GlobeInnovative Resolution of Regulatory and Governance Challenges, pp. 177 - 196Publisher: Cambridge University PressPrint publication year: 2023
References
Ballestero, E., Pérez-Gladish, B. and García-Bernabeu, A. (2015). The ethical financial question and the MCDM framework. In Ballestero, E., Pérez-Gladish, B. and García-Bernabeu, A., eds., Socially Responsibility Investment: A Multi-criteria Decision Making Approach. International Series in Operation Research and Management Sciences. Cham: Springer International Publishing Switzerland, pp. 3–22.CrossRefGoogle Scholar
Bauer, R., Moers, F. and Viehs, M. (2012). The determinants of withdrawn shareholder proposals. Working paper. https://web.archive.org/web/20120317070403id_/http://www.fma.org:80/Atlanta/Papers/Determinants_of_withdrawn_shareholder_proposals_FMA.pdf.Google Scholar
Bjornsgaard. (2011). Religious society of Friends (Quakers). The Encyclopedia of Christian Civilization. Malden, UK: Wiley-Blackwell.Google Scholar
Boto, M. J. (2009). Las competencias de la Comunidad Europea en materia social. Cizur Menor: Thomson-Aranzadi.Google Scholar
Bruyn, S. T. (1987). The Field of Social Investment. New York: Cambridge University Press.CrossRefGoogle Scholar
Cañal-Fernández, V. and Caso, C. (2013). Caracterización de los Inversores Españoles: la Influencia de la Inversión Socialmente Responsable (Spanish Investors’ Characterization: The Influence of Socially Responsible Investment). Revista Española de Financiación y Contabilidad (REFC). http://ssrn.com/abstract=2252932.Google Scholar
Carroll, A. B. (1991). The pyramid of corporate social responsibility: towards the morals management of organizational stakeholders. Business Horizon, 34(4), 39–45.Google Scholar
CBI. (2005). Co-operative Financial Services, CBI – CSR Case Study Series, Article 13, May 2005.Google Scholar
Clark, G. and Hebb, T. (2004). Pension fund corporate engagement: the fifth stage of capitalism. Relations Industrielles/Industrial Relations, 59(1), 142–71.CrossRefGoogle Scholar
Clavero, S. B. (1985). Usura: del uso económico de la religión en la historia. Madrid: Tecnos.Google Scholar
Co-operative Banking Group. (2012). Building the Compelling Co-operative Alternative: Financial Statements 2011. Manchester: Co-operative Bank. www.co-operativebank.co.uk/assets/pdf/bank/investorrelations/financialresults/bank-financial-statement-2011.pdf.Google Scholar
Co-operative Banking Group. (2021). Our Values and Ethics in Action: Sustainability Report 2021. Manchester: Co-operative Bank. www.co-operativebank.co.uk/assets/pdf/bank/investorrelations/2021-sustainability-report.pdf.Google Scholar
Deutsche Bank Group. (2012). Deutsche Bank Annual Report 2012. https://annualreport.deutsche-bank.com/2012/ar/servicepages/downloads.html.Google Scholar
Domini, A. L. and Kinder, P. D. (1984). Ethical Investing: How to Make Profitable Investments Without Sacrificing Your Principles. Reading, MA: Addison-Wesley.Google Scholar
Ethical Corporation. (2008). Ethical Leaders of 2008. 1 December. www.ethicalcorp.com/communications-reporting/ethical-leaders-2008.Google Scholar
European Commission. (2019). Study on the Drivers of Investments in Equity by Insurers and Pension Funds. https://ec.europa.eu/info/sites/default/files/business_economy_euro/growth_and_investment/documents/191216-insurers-pension-funds-investments-in-equity_en_5.pdf.Google Scholar
Financial Reporting Council of Nigeria. (2013). Annual Report 2013. www.financialreportingcouncil.gov.ng/board-activities/annual-report–2013/.Google Scholar
Friedman, M. (1970). The social responsibility of business is to enhance its profits. New York Times, 32(13), 122–6. Previously published in M. Friedman (1962) Capitalism and Freedom. Chicago, IL: University of Chicago Press.Google Scholar
Fulton, M., Kahn, B. and Sharples, C. (2012). Sustainable investing: establishing long-term value and performance. Journal of Banking and Finance, 1–72. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2222740.CrossRefGoogle Scholar
Haigh, M. and Hazelton, J. (2004). Financial markets: a tool for social responsibility? Journal of Business Ethics, 52(1), 59–71.Google Scholar
Heard, J. (1978). Investor responsibility: an idea whose time has come? Journal of Portfolio Management, 4(3), 12–14.CrossRefGoogle Scholar
Kinder, P. (2005). Socially Responsible Investing: An Evolving Concept in a Changing World. Boston, MA: KLD Research & Analytics.Google Scholar
Kurtz, L. (2008). Socially responsible investment and shareholder activism. In Crane, A., McWilliams, A., Matten, D., Moon, J. and Siegel, D. S., eds., The Oxford Handbook of Corporate Social Responsibility. Oxford: Oxford University Press, pp. 249–80.Google Scholar
Lowry, R. P. (1993). Good Money: A Guide to Profitable Social Investing in the ’90s. New York: W.W. Norton & Company.Google Scholar
Marlin, A. (1986). Social investing: potent force for political change. Business and Society Review, 57, 96–100.Google Scholar
Mitchell, R., Agle, B. and Wood, D. J. (1997). Toward a theory of stakeholder identification and salience: defining the principle of who and what really counts. American Management Review, 22(4), 853–86.Google Scholar
Oh, O., Agrawal, M. and Rao, H. R. (2013). Community of intelligence and social media services: a rumor theoretic analysis of tweets during social crises. MIS Quarterly, 37(2), 407–26.CrossRefGoogle Scholar
Oh, C. H., Park, J.-H. and Ghauri, P. N. (2013). Doing right, investing right: socially responsible investing and shareholder activism in the financial sector. Business Horizons, 1074. www.academia.edu/24357978/Doing_right_investing_right_Socially_responsible_investing_and_shareholder_activism_in_the_financial_sector.Google Scholar
Oxford Business Knowledge (OBK). (2007). Recent trends and regulatory implications of socially responsible investment for pension funds. In Organisation for Economic Co-operation and Development (OECD), The OECD Guidelines for Multinational Enterprises and the Financial Sector. www.oecd.org/corporate/mne/38550550.pdf.Google Scholar
Petersen, H. L. and Vredenburg, H. (2009). Morals or economics? Institutional investor preferences for corporate social responsibility. Journal of Business Ethics, 90(1), 1–14.Google Scholar
Rudd, A. (1981). Social responsibility and portfolio performance. California Management Review, 23(4), 55–61.Google Scholar
Scholtens, B. (2006). Finance as a driver of corporate social responsibility. Journal of Business Ethics, 68(1), 19–33.Google Scholar
Sjöström, E. (2007). Translating ideologically based concerns: how civil society organisations use the financial market to protect human rights. International Journal of Environment and Sustainable Development, 6(2), 157–73.Google Scholar
Sjöström, E. and Welford, R. (2009). Facilitators and impediments for socially responsible investment: a study of Hong Kong. Corporate Social Responsibility and Environmental Management, 16, 278–88.Google Scholar
Social Investment Forum Foundation (SIF). (2011). 2010 Report on Socially Responsible Investing Trends in the United States. www.ussif.org/store_product.asp?prodid=10.Google Scholar
Sparkes, R. (2002). Socially Responsible Investment: A Global Revolution. London: Wiley.Google Scholar
Sparkes, R. and Cowton, C. J. (2004). The maturing of socially responsible investment: a review of the developing link with corporate social responsibility. Journal of Business Ethics, 52(1), 45–57.Google Scholar
Steurer, R. (2013). Disentangling governance: a synoptic view of regulation by government, business and civil society. Policy Science, 46, 387–410.Google Scholar
UBS.(2012). Annual Report: Our Performance in 2012. www.annualreports.com/HostedData/AnnualReportArchive/u/NYSE_UBS_2012.pdf.Google Scholar
Ullah, S. and Jamali, D. (2010). Institutional investors and corporate social responsibility: the role of Islamic financial institutions. International Review of Business Research Papers, 6, 619–30.Google Scholar
United Nations Global Compact. (2021). UN Global Compact Strategy 2021–2023. New York: United Nations.Google Scholar