Corporate social responsibility: an empirical investigation of U.S. organizations

Organizations that believe they should give something back to the society have embraced the concept of corporate social responsibility (CSR). Although the theoretical underpinnings of CSR have been frequently debated, empirical studies often involve only limited aspects, implying that theory may not be congruent with actual practices and may impede understanding and further development of CSR. The authors investigate actual CSR practices related to five different stakeholder groups, develop an instrument to measure those CSR practices, and apply it to a survey of 401 U.S. organizations. Four different clusters of organizations emerge, depending on the CSR practice focus. The distinctive features of each cluster relate to organizational demographics, perceived influence of stakeholders, managers perceptions of the influence of CSR on performance, and organizational performance

Financial and corporate social performance in the UK listed firms: the relevance of non-linearity and lag effects

Using environmental, social and governance scores compiled by Reuters Datastream for each company’s corporate social performance (CSP), we examine the relationship between CSP and corporate financial performance (CFP) of 314 UK listed companies over the period 2002–2015. We further evaluate the relationship between prior and subsequent CFP and prior and subsequent CSP. Based on the system-GMM estimation method, we provide direct evidence that suggests that while CFP and CSP can be linked linearly; however, when we examine the impact of CSP on CFP, the association is more non-linear (cubic) than linear. Our results suggest that firms periodically adjust their level of commitment to society, in order to meet their target CSP. The primary contributions of this paper are testing (1) the non-monotonous relationship between CSP and CFP, (2) the lagged relationship between the two and the optimality of CSP levels, and (3) the presence of a virtuous circle. Our results further suggest that CSP contributes to CFP better during post-crisis years. Our findings are robust to year-on-year changes in CFP and CSP, financial versus non-financial firms, and the intensity of corporate social responsibility (CSR) engagement across industries

Perceptions of the efficacy of sustainability-related performance conditions in executive pay schemes

This paper examines the efficacy of sustainability-related performance conditions in executive pay schemes at listed companies in the United Kingdom (UK) as perceived by the individuals involved in setting those conditions. It will be demonstrated that it is common practice in the UK for senior executives to receive part of their pay in the form of bonuses and share awards, the value of which awards will be determined by some degree of performance. The performance targets are generally related to financial performance but there is some evidence that performance conditions are increasingly being related to sustainability in some way. This paper considers a number of issues, including a key systemic issue of whether using incentive pay will have a material impact on the behaviour of UK listed companies regarding sustainability issues

The exemplification of governance principles within state asset management laws and policies: the case of Indonesia

Efficient state asset management is crucial for governments as they facilitate the fulfillment of their public functions, which include the provision of essential services and other public administration support. In recent times economies internationally and particularly in South east Asia, have displayed increased recognition of the importance of efficiencies across state asset management law, policies and practice. This has been exemplified by a surge in notable instances of reform in state asset management. A prominent theme in this phenomenon is the consideration of governance principles within the re-conceptualization of state asset management law and related policy, with many countries recognizing variability in the quality of asset governance and opportunities for profit as being critical factors. This issue is very current in Indonesia where a major reform process in this area has been confirmed by the establishment of a new Directorate of State Asset Management. The incumbent Director-General of State Asset Management has confirmed a re-emphasis on adherence to governance principles within applicable state asset management law and policy reform. This paper reviews aspects of the challenge of reviewing and reforming Indonesian practice within state asset management law and policy specifically related to public housing, public buildings, parklands, and vacant land. A critical issue in beginning this review is how Indonesia currently conceptualizes the notion of asset governance and how this meaning is embodied in recent changes in law and policy and importantly in options for future change. This paper discusses the potential complexities uniquely Indonesian characteristics such as decentralisation and regional autonomy regime, political history, and bureaucratic cultur

Assembly of protein-based hollow spheres encapsulating a therapeutic factor

Neurotrophins, as important regulators of neural development, function and survival, have a therapeutic potential to repair damaged neurons. However, a controlled delivery of therapeutic molecules to injured tissue remains one of the greatest challenges facing the translation of novel drug therapeutics field. This study presents the development of an innovative protein-protein delivery technology of nerve growth factor (NGF) by an electrostatically assembled protein-based (collagen) reservoir system that can be directly injected into the injury site and provide long term release of the therapeutic. A protein-based biomimetic hollow reservoir system was fabricated using a template method. The capability of neurotrophins to localise in these reservoir systems was confirmed by confocal images of fluorescently labelled collagen and NGF. In addition, high loading efficiency of the reservoir system was proven using ELISA. By comparing release profile from microspheres with varying crosslinking, highly cross-linked collagen spheres were chosen as they have the slowest release rate. Finally, biological activity of released NGF was assessed using rat pheochromocytoma (PC12) cell line and primary rat dorsal root ganglion (DRG) cell bioassay where cell treatment with NGF-loaded reservoirs induced significant neuronal outgrowth, similar to that seen in NGF treated controls. Data presented here highlights the potential of a high capacity reservoir-growth factor technology as a promising therapeutic treatment for neuroregenerative applications and other neurodegenerative diseases.Funding Information Funding for this work was provided by Covidien LLC and the Industrial Development Agency of Ireland.peer-reviewe