Financial Markets And Corporate Social Responsibility

Written by admin on September 9th, 2011

used that is comparable with both pollution levels and charitable giving, for example? These are just some issues that need to be resolved if the triple bottom line is to be fully considered as the answer to the problem of making markets listen.

According to Murray et al. (2006) the financial markets simply do not care about the current social issues and according to Frankental (2001) companies will only care about the social issues when the markets care about social issues. It is a problem that has been discussed researched and debated for years. A solution needs to be found to correct this in order to affect change in society. Ideas have been proposed to make the markets aware of the social issues and not just the financial, the triple bottom line being our example, but they aren’t perfect and still have a considerable way to come before being considered viable solutions. A lot more needs to be done.

Bibliography

Anderson, J. C., & Frankle, A. W. (1980). Voluntary Social Reporting: An Iso-Beta Portfolio Analysis. The Accounting Review, 55 (3), 467-479.

Arlow, P., & Gannon, M. J. (1982). Social Responsiveness, Corporate Structure and Economic Performance. Academy of Management Review, 7, 235-241.

Benston, G. J. (1982). An Analysis of the Role of Accounting Standards for Enhancing Corporate Governance and Social Responsibility. Journal of Accounting and Public Policy, 1 (1), 5-18.

Bowman, E. H., & Haire, M. (1975). A Strategic Posture Towards Corporate Social Responsibility. California Management Review, 18 (2), 49-58.

Bragdon, J. H., & Marlin, J. (1972). Is Pollution Profitable. Risk Management, 19 (4), 9-18.

Cochran, P. L., & Wood, R. A. (1984). Corporate Social Responsibility and Financial Performance. Academy of Management Journal, 27 (1), 42-56.

Cornell, B., & Shapiro, A. (1987). Corporate Stakeholders and Corporate Finance. Financial Management, 16, 5-14.

Elkington, J. (1997). Cannibals with Forks; The Triple Bottom Line of 21st Century Business. Capstone: Oxford.

Frankental, P. (2001). Corporate Social Responsibility – a PR Invention? Corporate Communications: An International Journal, 6 (1), 18-23.

Friedman, M. (1970, Sept 13). A Friedman Doctrine: The Social Responsibility of Business Is to Increase Its Profits. The New York Times Magazine , pp. 32, 33, 122, 124, 126.

Friedman, M. (1962). Capitalism and Freedom. Chicago, IL: University of Chicago Press.

Gray, R. H., Javad, M., Power, D. M., & Sinclair, C. D. (2001). Social and Environmental Disclosure and Corporate Characteristics: a Research Note. Journal of Business Finance and Accounting, 28, 327-356.

Hustead, B. W. (2000). A Contingency Theory of Corporate Social Performance. Business and Society, 39 (1), 24-48.

Milne, M. J., & Patten, D. M. (2002). Securing Organizational Legitimacy: an Experimental. Accounting, Auditing & Accountability Journal, 15 (3), 372-405.

Moussavi, F., & Evans, D. (1986). An Attributional Approach to Measuring Corporate Social Performance. Paper Presented at the Academy of Management Meetings, San Diego .

Murray, A., Sinclair, D., Power, D., & Gray, R. (2006). Do Financial Markets Care About Social and Environmental Disclosure. Accounting, Auditing & Accountability Journal, 19 (2), 228-255.

Neu, D., Warsame, H., & Pedwell, K. (1998). Managing Public Impressions: Environmental Disclosures in Annual Reports. Accounting Organizations and Societies, 23 (3), 265-282.

Norman, W., & MacDonald, C. (2003, March). Getting to the Bottom of the “Triple Bottom Line”. Business Ethics Quarterly .

Orlitzky, M., & Benjamin, J. D. (2001). Corporate Social Performance and Firm Risk: a Meta-Analytical Review. Business and Society, 40 (4), 369-296.

Rivoli, P. (1995). Ethical Aspects of Investor Behaviour. Journal of Business Ethics, 14 (4), 265-277.

Schmidheiny, S., & Zorraquin, F. J. (1996). Financing Change: The Financial Community, Eco-Efficiency and Sustainable Development. Cambridge, MA: MIT Press.

Skogsvik, K. (1998). Conservative Accounting Principles, Equity Valuation and The Importance of Voluntary Disclosure. British Accounting Review, 30 (4), 361-382.

Soloman, R., & Hansen, K. (1985). It’s Good Business. New York: Atheneum.

Ullmann, A. E. (1985). Data in Search of a Theory: A Critical Examintation of the Relationships Among Social Performance, Social Disclosure and Economic Performance of US Firms. Academy of Management Review, 10 (3), 540-557.

Vance, S. (1975). Are Socially Resonsible Firms Good Investment Risks? Management Review, 64, 18-24.

Pages: 1 2

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a Reply