scholarly journals Implementing Corporate Social Responsibility: Empirical Insights on the Impact and Accountability of the UN Global Compact

2012 ◽  
Author(s):  
Stefan Schembera
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Global Compact ◽  
Un Global Compact ◽  
Corporate Social ◽  
The Impact

scholarly journals Implementing Corporate Social Responsibility: Empirical Insights on the Impact of the UN Global Compact on Its Business Participants

2016 ◽  
Vol 57 (5) ◽  
pp. 783-825 ◽  
Author(s):  
Stefan Schembera
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Positive Impact ◽  
Global Compact ◽  
Un Global Compact ◽  
Instrumental Variable Regression ◽  
Stakeholder Network ◽  
Implementation Level ◽  
Corporate Social ◽  
The Impact

The implementation of corporate social responsibility (CSR) is crucial for the legitimacy of an organization in today’s globalized economy. This study aims to enrich our knowledge of the implementation of the largest voluntary CSR initiative—the UN Global Compact (UNGC). Drawing on insights from stakeholder, network, and institutional theory, I derive a positive impact of UNGC participation duration on the implementation level of the UNGC principles, despite potential weaknesses in the initiative’s accountability structure. Moreover, I scrutinize the validity of the newly introduced UNGC “Differentiation Programme” before applying this framework in the empirical analysis. Results from ordinal, linear, and instrumental variable regression models suggest that, contrary to claims made by UNGC critics, the duration of UNGC participation does affect the level of UNGC implementation. However, this effect appears to be much smaller than previous practitioner studies have suggested. Moreover, strong local UNGC networks affect the implementation level of the UNGC positively. Their hypothesized moderating role between UNGC participation duration and UNGC implementation level, however, is only significant in networks with activities of high quality rather than high quantity.

Corporate social responsibility, stock salience, and the asymmetric market impact of consumer sentiment news on Spanish firms

2015 ◽  
Vol 7 (2) ◽  
pp. 98-115
Author(s):  
Barry Oliver ◽  
Blanca Pérez-Gladish ◽  
Paz Méndez-Rodríguez
Keyword(s):  
Corporate Social Responsibility ◽  
Stock Market ◽  
Social Responsibility ◽  
Consumer Sentiment ◽  
Global Compact ◽  
Un Global Compact ◽  
Content Type ◽  
Negativity Effect ◽  
Corporate Social

Purpose – The purpose of this paper is to identify whether the Spanish stock market experiences a negativity effect on the announcement of Spanish consumer sentiment information and if firms that are signatory to the UN Global Compact on corporate social responsibility are relatively more salient in the minds of investors. Design/methodology/approach – The authors use consumer sentiment announcements to show how the negativity effects on the Spanish stock market are significantly influenced by how salient the stock is in the minds of investors. If a firm’s stock exhibits negativity effects on the release of consumer sentiment information then this stock is salient to investors. If firms who are signatory to the UN Global Compact exhibit significant negativity effects, it could be concluded that these stocks are salient, particularly if firms that are not signatory to the Global Compact do not exhibit a similar negativity effect. Findings – The IBEX35 index experiences significant negativity effects upon the release of Spanish consumer sentiment announcements. This is similar to that reported in other countries, notably Australia and the USA. Using the constituent firms in the IBEX35 index, the authors find that those firms that are signatory to the UN Global Compact are significantly more likely to experience negativity effects upon the release of Spanish consumer sentiment information than if they are not signatory to the Global Compact. This indicates that firms that are part of the UN Global Compact are more salient to investors. Research limitations/implications – Available published Spanish data on consumer sentiment. Practical implications – Little is understood of the impact that consumer sentiment announcements have on stock prices. Studies in USA and Australia have identified significant negativity effects in stock markets when consumer sentiment information is released. This research has found that a psychological negativity bias occurs in firms that are salient to investors. Salience has been found to be important in asset pricing. Originality/value – This paper tries to find out which companies are more likely to sign the UN Global Compact. These companies are more sensitive to consumer sentiment, because they depend on the everyday decisions of the consumers. The more the companies depend on consumers, the more they care about them. And, when the consumer sentiment goes down, they are more affected by this sentiment. These firms are also more worried about the long term. They are not only thinking about the profits in the short term but also about maintaining the generation of profits in the long term.

Business and Social Responsibility in the Arab World: the Zakat vs. CSR models in Syria and Dubai

2013 ◽  
Vol 12 (1) ◽  
pp. 95-123 ◽  
Author(s):  
Kjetil Selvik
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Case Studies ◽  
Arab World ◽  
Global Compact ◽  
Un Global Compact ◽  
Relative Utility ◽  
Symbolic Resource ◽  
Corporate Social

Abstract The article explores the promotion and reception of Corporate Social Responsibility (CSR) in the Arab world, taking Syria and Dubai as “most different” case studies. It observes that government-connected organizations have taken the lead in promoting CSR but are facing difficulties in rooting the concept beyond the ranks of crony capitalists. It argues that businessmen remain attached to an Islamic framework of social responsibility that contrasts with CSR as currently promoted. Extracting key themes in the businessmen’s approach and comparing them with the UN Global Compact the article proposes an ideal-typical comparison of what it calls the Zakat and the CSR models. It discusses their relative utility as symbolic resource for the different actors.

scholarly journals The Impact of the UN Guiding Principles on Business Attitudes to Observing Human Rights

2021 ◽  
pp. 1-15
Author(s):  
Peter MUCHLINSKI
Keyword(s):  
Human Rights ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Codes Of Conduct ◽  
Un Global Compact ◽  
Business And Human Rights ◽  
Legal Obligations ◽  
Guiding Principles ◽  
Corporate Social ◽  
The Impact

Abstract This contribution discusses business attitudes to human rights obligations and how the United Nations Guiding Principles on Business and Human Rights (UNGPs) have affected them. These are best understood historically through a number of periods. The first, between the mid-1970s and the end of the 1980s, coincides with intergovernmental organization-based codifications relevant to corporate social responsibility. Business representatives were highly defensive towards extensive international legal obligations not only in relation to human rights but to corporate social responsibility (CSR) more generally. This was followed by a period of ‘voluntarism’. By the 1990s, businesses had accepted that there could be a link between their operations and human rights violations but continued to reject binding legal duties. Instead, businesses opted for voluntary codes of conduct based on individual corporate, or sectoral, initiatives. It was out of this period that the UN Global Compact emerged. ‘Voluntarism’ continues into the third period, the era of the UNGPs. The UNGPs can be characterized by ‘institutionalized voluntarism’ achieved through the framework for business and human rights represented by the UNGPs. Each period will be examined followed by a concluding section that considers business attitudes to an emerging fourth period that introduces legal obligations through mandatory due diligence laws.

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