Implementing Effective Corporate Social Responsibility and Corporate Governance: A Framework
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The CSR report should contain an analysis of the sustainability of the company's activities, including clear, transparent non-financial information in support of this analysis. A methodological memorandum explaining how significant CSR performance indicators e. The board of directors is expected to consider on a regular basis non-financial risks including the social and environmental aspects thereof. In this respect, the CSR principle contains a guideline regarding the establishment of a CSR committee which should report regularly to the board of directors on its meetings.
It has been adopted in response to "the need to adapt to new realities" and "developments in the concept of corporate governance" in Europe and in the "regulatory framework and the way in which it is applied in Luxembourg". The principle is intended to enhance transparency with regard to all stakeholders concerning extra-financial information and provide investors with a "better understanding of [companies'] strategy for creating value and their global performance".
If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries lexology. I like the fact that the email contains a short indication of the subject matter of the articles, which allows me to skim the newsfeed very quickly and decide which articles to read in more detail. Back Forward. I cannot even describe how much Course Hero helped me this summer.
In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero. CSR Framework Final. Except as permitted under the Copyright, Design and Patents Act , no extract may be reproduced, stored in a retrieval system or transmitted in any form or by any means — electronic, photocopying, recording or otherwise — without prior written permission from BSI. This special issue of the Journal of Management and Governance brings together research from authors in France, Switzerland, the United Kingdom, Tunisia, and further afield.
The underlying theme of the articles is the nature of corporate social responsibility and its relationships with governance, financial structure and financial performance.
CSR governance and reporting
Drawing on a sample of French companies listed on the SBF index over the — period, the authors find no evidence of any significant relationship between the proportion of women on corporate boards and corporate risk-taking practices. The results are also consistent with Nelson who considers that men and women do not behave significantly differently in terms of risk-taking. This paper combines several theories in a unique framework, to assess the factors which shape the quality of environmental disclosure. In the footsteps of Chauvey et al.
Using a sample of French companies listed on the SBF index over the — period, the authors show that quality of environmental disclosure is relatively low in France but tends to increase over the sample period. They also show that environmental audit, board gender diversity and environmental performance explain, to a large extent, the quality of environmental disclosure. Specifically, they test the impact of ethical performance on company value and the attractiveness of stocks for main shareholders i.
This result is consistent with prior literature suggesting that companies are able to create value for all stakeholders. Moreover, the authors provide evidence that institutional investors are more likely to invest in ethical companies as they play an effective monitoring role in encouraging these companies to strengthen their ethical behavior.
The authors demonstrate how politically-connected banks are more likely to exhibit high levels of leverage. This effect is found to be larger among highly-profitable banks, suggesting that privileged relations with politicians help banks to be more profitable and lead to higher levels of leverage. Depositors may perceive politically-connected banks as being less risky, as they are more inclined to be bailed out by the government when facing financial difficulties.
Acer Corporate Social Responsibility Mission
The authors begin by looking at the link between CSR and systematic company risk, then investigate the relationship between CSR and company performance. The empirical evidence indicates a negative relationship between corporate social performance and systematic risk, leading to higher stock returns for those companies which implement socially responsible strategies.
These strategies are considered by investors to be insurance against the negative effects of periods of turmoil. We would like to thank Lino Cinquini, editor-in-chief of the Journal of Management and Governance, for offering me the opportunity to guest-edit this special issue. Our sincere thanks also to all the reviewers for the time and effort they invested in providing feedback on these papers. And, last but not least, our thanks to the contributing authors for their intellectual contributions and for the quality of their work, including during the reviewing process.
All views expressed in the papers remain, of course, the sole responsibility of the contributing authors. Skip to main content Skip to sections. Advertisement Hide. Download PDF.
Journal of Management and Governance pp 1—12 Cite as. Corporate social responsibility and governance.
Ethics, Values and Corporate Governance - OpenMind
Article First Online: 26 June Adams, C. Corporate social reporting practices in western Europe: Legitimating corporate behavior? The British Accounting Review, 30 1 , 1— Google Scholar. Agrawal, A.
CSR Framework Final.pdf - Implementing Effective Corporate...
Corporate governance and accounting scandals. Journal of Law and Economics, 48, — Aguilera, R. Codes of good governance. Corporate governance: An international review, 17 3 , — Putting the S back in corporate social responsibility: A multilevel theory of social change in organizations. The Academy of Management Review , 32 3 , — Albareda, L. The changing role of governments in corporate social responsibility: drivers and responses.
Business ethics: A European review, 17 4 , — Proactive corporate environmental strategies: Myths and misunderstandings. Long Range Planning, 40 3 , — Barnea, A. Corporate social responsibility as a conflict between shareholders.
Journal of Business Ethics, 97 1 , 71— Becchetti, L. Corporate social responsibility and stock market performance. Applied Financial Economics, 19, — Brammer, S. Does it pay to be different? An analysis of the relationship between corporate social and financial performance. Strategic Management Journal, 29 12 , — Voluntary environmental disclosure by large UK companies.
Journal of Business Finance and Accounting, 33 7—8 , — Brondoni, S. Emerging Issues in Management, 2, 6— Carroll, A. Corporate social responsibility.
Working together with stakeholders
Business and Society, 38 3 , — Chand, M. The relationship between corporate social performance and corporate financial performance. The Business Review, 5 1 , — Chauvey, J. Journal of Business Ethics , 4 , — Danvila del Valle, I. Corporate social responsibility and sustainability committee inside the boar. Accessed 28 Mar Dowell, G. Do corporate global environmental standards create or destroy market value? Management Science, 46 8 , — Dyck, A. How pervasive is corporate fraud?
University of Chicago, Working paper. Fassin, Y. Journal of Business Ethics, 98 3 , — Flammer, C. Does corporate social responsibility lead to superior financial performance? A Regression Discontinuity Approach. Management Science, 61 11 , — Gangi, F. The ethical finance as a response to the financial crises: An empirical survey of European SRFs performance.
Journal of Management and Governance, 19 2 , — Board of Directors and ethics codes in different corporate governance systems. Journal of Business Ethics, , — Gramlich, D. Corporate sustainability and risk. Journal of Business Economics, 83, — Haniffa, R. The impact of culture and governance on corporate social reporting.