bluuebunny/crossref_metadata_2025_split huggingface dataset:
Corporate governance, shareholder value and societal expectations
Authors: Tudway Richard , Pascal Ana‐Maria 
Published: January 2010

PurposeThis purpose of this paper is to examine four separate though interconnected questions concerning corporations operating, in Anglo American jurisdictions.Design/methodology/approachThe paper first examines the nature of the limited liability corporation as an entity dedicated to maximizing shareholder value, and how far this role is consistent with the pursuit of wider policies of corporate social responsibility (CSR). Second, it reviews the ownership arrangements of the corporation, the fiduciary duties of board directors and how this is translated into the task of maximizing shareholder value through the pursuit of profits. Third, it investigates how directors position themselves commercially in maximizing shareholder value and whether shareholders express views on how shareholder value can best be maximized. Finally conclusions are drawn on how best corporations and their directors can address the challenge of meeting shareholder value and how far this implies realignment in terms of wider societal expectations. The method of research used includes an examination of statute law governing the corporation, judge's law, regulatory law, other soft law in the context of outsider controlled capital markets. Relevant published research material is also declared in the bibliography.FindingsConclusions drawn suggest that the premise of maximization of shareholder value may very well entail the pursuit by directors of wider social and economic objectives consistent with CSR, if this is consistent with the enhancement of shareholder value. They also point to a lack of clarity on the question of what is expected of directors in meeting their fiduciary and broader director's duties as expressed in the objective of maximizing shareholder value. Evidence suggests that there is little effective communication between shareholders and directors on how best shareholder value can be maximized. Specifically the analysis focuses on how best to overhaul the mechanisms of governance and accountability if directors and the shareholders they represent are to develop and execute rational commercial policies aimed at maximizing shareholder value.Originality/valueThe paper breaks new ground in linking CSR to the enhancement of shareholder value and in suggesting that directors may be negligent in their duty to promote shareholder value if they fail do so. The paper should be of interest to company directors, company legal advisors; other corporate lawyers involved in litigation against directors, and policy makers in government.
Corporate social responsibility as a new paradigm in the European policy: how CSR comes to legitimate the European regulation process
Authors: Eberhard‐Harribey Laurence 
Published: January 2010

PurposeSince its Green Paper (2002) entitled “Promoting a European framework for Corporate Social Responsibility”, the European Commission multiplies communications and actions about corporate social responsibility (CSR). The purpose of this article is to question the emergence of CSR as a paradigm of the European referential in terms of public policy.Design/methodology/approachThis article analyses the emergence of this concept in the Community Action asking the question of the nature of this action and the link with the main Community policies. To achieve it the research leans on a public policy analysis by a mixed approach founded on a causal analysis and a cognitive approach.FindingsIf the main theoretical founders of the discourse about CSR seem to be effectively inspired by the North American school of business ethics, in fact we can also argue that there are some specificities in Community action in CSR. More than a specific policy of CSR in the Community, CSR seems to become an element of transversal policy which has to be re‐considered in the larger triptych “CSR‐sustainable development‐governance” promoted by European Commission as a way of a new European regulation.Research limitations/implicationsThis hypothesis should have to be worth thinking about in the light of the new communication of European Commission published in 2006 and future development.Originality/valueOpening the question of the specificity of a CSR European approach, this article also offers a new contribution to the debate on the European regulation process.
The political economy of CSR in Western Europe
Authors: Midttun Atle , Gautesen Kristian , Gjølberg Maria 
Published: January 2010

PurposeThe increasing engagement in corporate social responsibility (CSR) potentially indicates an attempt to “re‐embed” the economy in a wider societal context, following a period of neoliberal market exposure, deregulation, and separation of commercial and societal concerns. The purpose of this paper is to explore the relationship between this new social embedding of the economy and older traditions of social embeddedness, such as the welfare state, neocorporatist arrangements, and other socio‐political and labour market arrangements.Design/methodology/approachThe paper explores the relationship between old and new embeddedness by examining how 17 West European nations and the USA are ranked on “old” embeddedness dimensions and comparing this ranking with “new” CSR rankings of nationally aggregated industrial performance.FindingsThe overall findings at an aggregate level provides some support for the idea of a symmetric relationship between the “old”, politically‐driven embeddedness and the “new”, industry‐driven embeddedness. However, a finer inspection of the results reveals interesting diversity and variation between countries and between scores, indicating more complex national story lines.Research limitations/implicationsDespite the limited set of countries and some measurement challenges, the analysis illustrates that the patterns of national industrial adaptation to the CSR agenda is strongly shaped by regional and national institutional contexts. While some of the institutional patterns shaping CSR in the “old” EU 15++ have been analysed in this paper, much work still remains to be done in extending and deepening our knowledge in this field.Practical implicationsThe findings may help understand how a general framework like CSR interplays with political and institutional contexts as it trickles down into different West European political economies.Originality/valueThe systematic analysis of old political and new corporate social embeddedness of the economy based on a broad set of indicators is new and sheds light on the institutional preconditions for‐ and shaping of CSR.
The government's role in promoting corporate responsibility: a comparative analysis of Italy and UK from the relational state perspective
Authors: Albareda Laura , Tencati Antonio , Lozano Josep M. , Perrini Francesco 
Published: January 2010

PurposeThe purpose of this paper is to analyse the changing role of governments promoting corporate responsibility (CR) as a result of the challenges raised by globalisation.Design/methodology/approachCR is linked to the restructuring of governments' agendas in the framework of government/private sector/civil society relationships. It is a result of the research project that applies the Relational State Model Approach to the analysis of CR public policies. The relational state situates the relations between the public and private sectors, between the state and society, in the sphere of co‐responsibility.FindingsThe paper concludes that in the UK a more systemic, national government‐centred and business‐oriented approach prevails, while Italy has a more extensive, multi‐stakeholder and multi‐level approach.Research limitations/implicationsFuture research should complete the comparative analysis expanding it to other European countries: northern and central European countries to analyse the difference between all European governments in order to promote CR.Practical implicationsThe analytical framework of this paper could be used for academic, business leaders and policy makers to develop future actions in relation to CR public development.Originality/valueThe objective to be achieved is to understand the new political and public framework incorporating CR as a new form of governance. We compare two countries that represent two very different models of government action. The theoretical approach of the paper is based on the comparative analysis of CR governmental vision, objectives, strategies and internal government CR structure.
Key models for delivering sector‐level corporate responsibility
Authors: Draper Stephanie 
Published: January 2010

PurposeThe purpose of this paper is to provide a blueprint for an optimal model of sectoral corporate responsibility (CR), through exploring a variety of current approaches. The necessity for a more sector‐wide approach is discussed and the best way to make it happen identified.Design/methodology/approachAn exploration of the models for industry‐wide CR, based on practical experience and case study evidence. The approaches are critically appraised and developed into an overarching model for sector change. The paper answers five key questions: why is sector corporate responsibility important; how does this relate to competitiveness; what are the five existing models for sector change; what are their advantages and disadvantages and what does this teach us about the approach to take?FindingsThere are five established models for sector‐level corporate responsibility, each has pros and cons and each contributes to company and/or sector competitiveness and performance. The optimal model for sector change combines two or three models and that's where competitiveness gains really lie. Ideally all sectors would have a clear vision of the shift that they need to make. This vision would then drive leadership, some specific market‐based action and potentially form the basis for some smart regulation. Finally, education on CR would ensure embedding of a responsible approach into the future.Practical implicationsThis viewpoint delivers a very useful model for industry groups to take a more meso‐level approach to corporate responsibility or address particular challenges that an industry faces.Originality/valueMore and more industries are facing clear social and environmental risks and opportunities. This paper provides an important model for them to address them effectively. It is based on the author's knowledge and experience and as such is an original piece of work.
Investing in health care management: a way to explore the future value outlook of the health care sector
Authors: Agyeman‐Budu Esther A. , Welvaert Frank 
Published: January 2010

PurposeThis paper aims to show the need for Europe to invest more in health care management training. It should be seen as a catalyst for accelerating the restructuring of the sector.Design/methodology/approachThe paper reports on an existing change management program developed and managed by Project Hope. The project is evaluated by investigating results achieved to date and the need for its services.FindingsEmpirical research suggests that there is considerable need for management training in health care. This is especially the case in some Central and Eastern European countries, reinforcing the need for health care management programs such as the one conducted by Project Hope.Originality/valueThe paper looks at a unique health care management training program in Central and Eastern Europe.
Opportunities and limitations of CSR in the postcommunist countries: Polish case
Authors: Lewicka‐Strzalecka Anna 
Published: January 2010

PurposeThe purpose of this paper is to identify the main opportunities and limitations of corporate social responsibility (CSR) in the countries of transformation.Design/methodology/approachThe conditions determining the success of CSR in Poland have been defined in the paper on the basis of the previously cumulative knowledge as well as the results of various sociological research.FindingsThe paper finds that the main obstacles of CSR are: negative image of business, dysfunctional legal background, corruption, weakness of the III sector, difficult economic situation of many companies, the lack of an ethics and ethical standards, and difficult situation on the job market. The main opportunities are: contacts of the companies with the foreign partners, self‐regulation trends of business, good economic growth rate.Originality/valueThis paper provides knowledge which may be useful in the programs promoting CSR.
Using stakeholder dialogue as a source for new ideas: a dynamic capability underlying sustainable innovation
Authors: Ayuso Silvia , Ángel Rodríguez Miguel , Enric Ricart Joan 
Published: January 2010

PurposeThe purpose of this research is to attempt to gain a deeper understanding on the firm's ability to integrate stakeholder insights into the process of organizational innovation from a sustainable development viewpoint.Design/methodology/approachGiven the early stage of empirical research on the topic, an exploratory case study was used of two Spanish companies that have successfully learned from stakeholder dialogue and have generated innovations that are beneficial both for the company and for sustainable development in general.FindingsThe evidence from the two case studies suggests the existence of two simple capabilities – stakeholder dialogue and stakeholder knowledge integration – for generating innovations in accordance with stakeholder needs. Whereas stakeholder dialogue leverages organizational resources that promote two‐way communication, transparency and appropriate feedback to stakeholders, stakeholder knowledge integration relies on non‐hierarchical structures, flexibility and openness to change.Research limitations/implicationsThe fact that the two companies studied are rather special cases of companies without shareholders might limit the results of the present research. Thus, future research could explore sustainable innovation as a response to the demands of other kinds of stakeholders and refine, validate and test the concept of dynamic capability identified in this paper.Originality/valueThe paper sheds some light on the under‐researched issue of linking stakeholder dialogue and sustainable innovation, and thus contributes to open the “black box” of dynamic capabilities and advance in the understanding of this fundamental organizational concept.
Hardwiring and softwiring corporate responsibility: a vital combination
Authors: de Wit Monique , Wade Mark , Schouten Esther 
Published: January 2010

PurposeThis case study paper has the purpose of showing that both processes of hardwiring and soft wiring together is essential for embedding corporate responsibility across a global organisation to achieve lasting change.Design/methodology/approachThe approach taken in this paper is first to describe the experiences in the Shell Group in terms of tools and approaches. In Shell, governance and business processes are being aligned, “hardwired”, while communications, leadership development programmes and competency frameworks reach the “hearts and minds” of Shell people – “soft wiring”. Informal networks tap into the enthusiasm of people, developing intrinsic motivation. These experiences of Shell are then compared with the sense making model of Cramer et al.FindingsThe findings show a high level of alignment.Practical implicationsThe practical implication of this finding is that hardwiring and softwiring processes appear to be a vital combination for changing the way business do things.Originality/valueThe value of this paper lies in making the business efforts of embedding corporate responsibility into business practice more effective by focussing on hardwiring and softwiring at the same time.
Corporate social responsibility from a “stakeholder view” perspective: CSR implementation by a Swiss mobile telecommunication provider
Authors: Sachs Sybille , Maurer Marc , Rühli Edwin , Hoffmann Reto 
Published: January 2010

PurposeThe purpose of this research is to show how corporate social responsibility (CSR) is actually implemented and managed in business practice by a mobile communications provider in Switzerland. Based on this presentation the paper aims to analyze whether this implementation in the firm is consistent or not, to the responsibilities derived from the stakeholder view framework as it has been proposed by Postet al.(2002).Design/methodology/approachThe goal of this investigation is twofold. From a theoretical perspective, the paper aims to find out if the stakeholder view framework is a suitable tool to assess a firm's practical efforts in the area of CSR. And from a practitioners perspective, the application of the stakeholder view framework may help in identifying “blind spots” whereby closing them could increase the firm's effectiveness concerning the implementation of their specific corporate responsibility.FindingsBecause of the empirical findings it is concluded that the application of the stakeholder responsibility framework yields interesting insights into how corporate responsibilities are managed from a stakeholder perspective.Originality/valueThe paper ends by suggesting several recommendations for the further CSR implementation of the company analyzed and for business practice in general.
Voluntarism as an organizing principle for “responsible organizations”
Authors: Clarke Martin , Butcher David 
Published: January 2010

PurposeThe aim of this paper is to promote the concept of organizational voluntarism, borrowed from political philosophy and to stimulate feedback and debate as to its efficacy in furthering the discourse on corporate responsibility.Design/methodology/approachThe paper examines a range of current theories that address the issue of balancing organizational plurality and coherence. It identifies both shortfalls in current research and provides criteria for developing new theory in this area. The concept of organizational voluntarism is developed and these criteria used to test the robustness of the model and to explore future areas of research.FindingsThe criteria used to assess the voluntarism model are: the centrality of organizational plurality, the embeddedness of social relations and power in organization working, accounting for the motivations of managers to work this way; and the need for clear organizational benefits. Four potential cognitions are proposed that define a voluntaristic mindset.Research limitations/implicationsThe aim is only to develop the concept of voluntarism and promote debate about its value as an organizing principle in multi stakeholder settings.Practical implicationsThe paper offers a research proposition that managers who pursue voluntaristic behaviour will be influenced by cognitions that reflect plurality of interests, the value of personal interest, the need to “take” authority and who value political models of working in the reconciliation of competing interests.Originality/valueThe paper provides an additional perspective that can further the development of corporate responsibility by mediating the demands for corporate control and efficiency and the calls for greater inclusion.
The role of audit committees in Barbados
Authors: Alleyne Philmore , Howard Michael , Greenidge Dion 
Published: January 2010

PurposeThe purpose of this paper is to examine the role and function of audit committees in public companies in Barbados since the corporate scandals of Enron and WorldCom in the USA.Design/methodology/approachThe study used a mixed‐methods approach of self‐administered questionnaires, interviews with directors, audit committee members and auditors, and a content analysis of the published annual reports.FindingsThere was no full‐scale adoption of audit committees. Membership in audit committees tended to vary between three and four, and audit committees met on average four times a year. There were mixed views on audit committees having broader roles such as business strategy, assessment and management of risks. There were also excellent working relationships among audit committees, internal and external auditors. The independence of audit committees was questionable.Research limitations/implicationsThe concept of audit committee is relatively new in Barbados. Further, there are Boards dominated by directors with major shareholdings. This study also relied heavily on US‐centric literature and the perceptions of audit committee members. These factors are likely to limit its usefulness to other non‐US countries. Future research can measure stakeholders' perceptions of the role of audit committees.Practical implicationsThis study is important to academics and practitioners in understanding the role and function of audit committees in a small country.Originality/valueThis study sets out a best practice model for the adoption of audit committees in small countries like Barbados.
Board structure and ownership in Malaysia: the case of distressed listed companies
Authors: Nahar Abdullah Shamsul 
Published: January 2010

PurposeThis study seeks to examine the influence of board independence, CEO duality and ownership structure on the firm financial distressed status using a sample of distressed companies and a matched‐pair sample of non‐distressed companies listed on the Bursa Malaysia.Design/methodology/approachThis study utilized publicly available data from annual reports of a sample of 86 non‐finance distressed firms listed on the Bursa Malaysia and a sample of matched 86 non‐distressed firms for a period covering the 1999‐2001 financial years.FindingsBoard independence and CEO duality are not associated with financial distressed status. Management and non‐executive directors' interests are associated negatively with financial distress. A negative association is also documented for outside blockholders. The evidence also supports the contention that ownership by non‐executive directors and outside blockholders effectively increases their incentives to monitor management in ensuring their wealth in the firms is intact.Research limitations/implicationsOne limitation of this research is that it relies on publicly available data and agency theory. Future research could apply other theories, such as resource dependency and stewardship. Use of process‐oriented data could also improve the findings.Practical implicationsIndependent directors need to undergo training to help them improve and be aware of their responsibilities.Originality/valueThis paper offers evidence on the extent to which distress is associated with corporate governance from a developing country. The paper should be of interest to the regulatory bodies and practitioners.