Corporate Governance: Social Responsibility & Social Impact eJournal最新文献

{"title":"Should We Impose Sanctions on Russia Because of the Crimea?","authors":"Robert W. McGee","doi":"10.2139/SSRN.2409997","DOIUrl":"https://doi.org/10.2139/SSRN.2409997","url":null,"abstract":"This article examines the view that sanctions should be imposed on Russia because of its involvement with Crimea. Applying sanctions fails the utilitarian ethics test because sanctions result in more losers than winners. The result would be a negative-sum game. Sanctions fail the rights test because rights are necessarily violated by their imposition. It is not in the best interest of the United States to impose sanctions because the United States has little to gain and much to lose by imposing sanctions. It fails the constitutional test because there is nothing in the Constitution to permit it.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123669633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Call for Global Responsible Intergenerational Leadership in the Corporate World: The Quest of an Integration of Intergenerational Equity in Contemporary Corporate Social Responsibility (CSR) Models","authors":"Julia M. Puaschunder","doi":"10.2139/ssrn.2409239","DOIUrl":"https://doi.org/10.2139/ssrn.2409239","url":null,"abstract":"Global systemic risks of climate change, overindebtedness in the aftermath of the 2008/09 World Financial Crisis and the need for pension reform in the wake of an aging Western world population, currently raise attention for intergenerational fairness. Pressing social dilemmas beyond the control of singular nation states call for corporate social activities to back governmental regulation in crisis mitigation. The following paper promotes the idea of intergenerational equity in the corporate world. In the given literature on global responsible leadership in the corporate sector and contemporary Corporate Social Responsibility (CSR) models, intergenerational equity appears to have widely been neglected. While the notion of sustainability has been integrated in CSR models, intergenerational equity has hardly been touched on as for contemporarily being a more legal case for codifying the triple bottom line. Advocating for integrating intergenerational equity concerns in CSR models in academia and practice holds advantages of untapped potentials of economically influential corporate entities, corporate adaptability and independence from voting cycles. Integrate a temporal dimension in contemporary CSR helps imbuing a longer-term perspective into the corporate world alongside advancements regarding tax ethics and global governance crises prevention. Future research avenues comprise of investigating situational factors influencing intergenerational leadership in the international arena in order to advance the idea of corporations aiding to tackle the most pressing contemporary challenges of mankind.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126817567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Supersize Them? Large Banks, Taxpayers and the Subsidies That Lay Between","authors":"Nizan Geslevich Packin","doi":"10.2139/ssrn.2408040","DOIUrl":"https://doi.org/10.2139/ssrn.2408040","url":null,"abstract":"In 2013, media reports sent shockwaves across financial markets by estimating that the value of the combined financial advantages and subsidies for the six biggest U.S. banks since the start of 2009 was at least $102 billion. Follow-up reports estimated that the profits of two of America’s largest banks would have been negative if not for implicit and explicit government subsidies. The most significant implicit subsidy stems from market perception that the government will not allow the biggest banks to fail — i.e., that they are “too-big-to-fail” (TBTF) — enabling them to borrow at lower interest rates. While the Dodd-Frank Act attempts to solve the TBTF problem, it does not prohibit the government from giving financial support framed in a general fashion.This article focuses on two main things. First, it explores the TBTF subsidies and their unintended consequences. Specifically, the article examines whether there are in fact TBTF subsidies or not, as some of the megabanks believe, and reviews the different estimates of the arguable subsidies. The article describes why it is difficult to measure and quantify the subsidies given the lack of any formal or transparent data, and discusses the perverse effects and incentives that result from the subsidies, such as pushing the banks to borrow more, take excessive risks, and act unethically. Second, the article examines the various proposals that have been suggested to address the TBTF problem, and suggests a new user-fee framework that could be useful in addressing the issue and used together with other approaches.The article’s contributions are three-fold. First, it provides a theoretical framework for understanding how government subsidies have worked in the past, especially in the TBTF context, which enables parallels to be drawn across disparate settings going forward. Second, the article applies that framework to demonstrate that the current body of work on the issue is incomplete because it under-theorizes the TBTF subsidies’ impact on the economy and politics. Finally, the analysis in this article usefully supplements the existing legal writing on regulation of banks, and adds important elements to its future development. As a first step, the article explains the problems created by the subsidies, and suggests that policymakers and market participants should be more transparent about the explicit and implicit subsidies, especially since taxpayers do not have standing to challenge such subsidies. As a second step, the article reviews the advantages and the shortcomings of the suggested solutions to the TBTF problem and suggests using user-fees to help address the negative issues resulting from the subsidies, and minimize the impact of future financial, social and political crises.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133533627","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Relationships between Corporate Social Responsibility and Financial Performance: What is the Causality?","authors":"Gérard Hirigoyen, Thierry Poulain-Rehm","doi":"10.2139/ssrn.2531631","DOIUrl":"https://doi.org/10.2139/ssrn.2531631","url":null,"abstract":"This study examines the causal relationships between the various dimensions of corporate social responsibility (human resources, human rights in the workplace, societal commitment, respect for the environment, market behavior and governance) and financial performance (return on equity, return on assets, market to book ratio). It is based on a sample of 329 listed companies in three geographical areas (the United States, Europe and the Asia-Pacific region) for the years 2009 and 2010. Linear regression analysis and the Granger causality test were used to examine the causal relationships between social responsibility and financial performance. The results show not only that greater social responsibility does not result in better financial performance, but also that financial performance negatively impacts corporate social responsibility","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128188136","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Agency Problems of Corporate Philanthropy","authors":"Ronald W. Masulis, S. W. Reza","doi":"10.2139/ssrn.2234221","DOIUrl":"https://doi.org/10.2139/ssrn.2234221","url":null,"abstract":"Evaluating agency theory and optimal contracting theory views of corporate philanthropy, we find that as corporate giving increases, shareholders reduce their valuation of firm cash holdings. Dividend increases following the 2003 Tax Reform Act are associated with reduced corporate giving. Using a natural experiment, we find that corporate giving is positively (negatively) associated with CEO charity preferences (CEO shareholdings and corporate governance quality). Evidence from CEO-affiliated charity donations, market reactions to insider-affiliated donations, its relation to CEO compensation, and firm contributions to director-affiliated charities indicates that corporate donations advance CEO interests and suggests misuses of corporate resources that reduce firm value.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123360523","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does the Market Value Social Pillar?","authors":"S. Marsat, Benjamin Williams","doi":"10.2139/ssrn.2419387","DOIUrl":"https://doi.org/10.2139/ssrn.2419387","url":null,"abstract":"The paper addresses the link between the social component of corporate social responsibility and market value of equities. Preceding results on this topic are, to our knowledge, still scarce and not really conclusive. Using a both rich and worldwide dataset, Asset4 – Thomson Reuters, we find that social expenses are clearly value-adding. Moreover, all the social subsets are positively related to a goodwill, even if those concerning human capital reveal to be more significant. Social expenses therefore prove to be a social investment, creating value for both social stakeholders and shareholders.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"222 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131518206","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Concept of Money Laundering in India","authors":"Kalyani H. Deshmukh","doi":"10.2139/SSRN.2373064","DOIUrl":"https://doi.org/10.2139/SSRN.2373064","url":null,"abstract":"‘Money-Laundering’ - A sophisticated crime not to be taken very seriously at the first glance by anyone in the society as compared to street crimes. If you ask people what is money laundering? The general guesses from layman would be that it must be something related to drying, washing or may cleaning of currency notes. This is rather the human tendency about the world’s very big crime. As to the meaning of money laundering a concise working definition which was adopted by Interpol General Secretariat Assembly in 1995, which defines money laundering as: “Any act or attempted act to conceal or disguise the identity of illegally obtained proceeds so that they appear to have originated from legitimate source.” An amount 13 times larger than the country's foreign debt - USD 1500 billion has been alleged to have been laundered by Indians in Swiss banks - an issue raised even during the recently concluded Parliamentary elections. Anti-Money Laundering (AML) has become a serious issue due to the possibility of such funds being used for terrorist financing, apart from the revenue loss to the government.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"101 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134068184","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"From Hawala Scam to Coalgate: An Analysis of Financial Scams in India","authors":"Akshay Sharma","doi":"10.2139/SSRN.2395931","DOIUrl":"https://doi.org/10.2139/SSRN.2395931","url":null,"abstract":"While corruption has been endemic in India since long, it reached unprecedented heights in the last decade. Scams after scams came to rock the Indian imagination and exposed the rampant corruption that existed with abhorrent ease in public life. The aim of this paper is to highlight such major scams that have taken place in the last two decades, i.e., from Hawala to Coalgate. This paper studies in detail several of such prominent scams and highlights the administrative and the legal lapses that were exploited by their operators. It then discusses the contemporary regulatory framework to combat corruption and examines if the lessons learnt from these incidents helped in strengthening such framework. The author finally concludes with an analysis of the road that lies ahead for our public institutions to ensure that none of such scams resurface again to undermine the general confidence in our public institutions.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126088461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Compulsory Regulation of CSR and Investor Reactions: Evidence from Indian Economy","authors":"A. Mukherjee","doi":"10.2139/SSRN.2337285","DOIUrl":"https://doi.org/10.2139/SSRN.2337285","url":null,"abstract":"This study contributes to the limited established empirical research on the impact and relevance of corporate social responsibility (CSR) in the capital markets of emerging economies. This paper demonstrates an event study to examine how compulsory CSR legislative in India influenced the stock prices. Using a data set of 400 listed Indian enterprises, this paper looks at four different event dates and comments on the necessity and importance of a structured legislation to control the CSR activity in an emerging economy like India.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"158 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124491336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Business Ethics Competencies Research: Implications for Canadian Practitioners","authors":"David Cramm, R. Erwee","doi":"10.2139/ssrn.2327868","DOIUrl":"https://doi.org/10.2139/ssrn.2327868","url":null,"abstract":"This paper describes a proposed framework of knowledge, skills, abilities, and other characteristics (KSAOs) that a practitioner who is competent in business ethics, compliance, or integrity should possess. These competencies may be leveraged as key input to selecting content for an institutionalized business ethics training program. The focus in this paper is on the management problem of ‘What competencies are important for job performance of business ethics practitioners’. Phase I consisted of developing a provisional taxonomy of business ethics competencies and Phase II involved academic and industry practitioners implicated in business ethics to validate the conceptually developed provisional taxonomy of business ethics competencies to eventually make recommendations regarding the selection of business ethics training content. The contribution to the business ethics competency-based management knowledge that is presented in this paper is a proposed business ethics competency model and the implications of this model for Canadian practitioners are discussed.","PeriodicalId":210981,"journal":{"name":"Corporate Governance: Social Responsibility & Social Impact eJournal","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124757910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}