13 research outputs found

    Business ethics and corporate responsibility:a new perspective

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    Starting from the famous but controversial statement of Peter Drucker (1981) - “There is neither a separate ethics of business nor is one needed”, this paper goes on to argue that business ethics and social responsibility are not unrelated. It shows how it is necessary to distinguish between business philosophy and philosophy of business. Through this distinction it develops a framework that relates the two – business ethics and CSR. It goes on to argue that there is a paradigm shift in the philosophy of business. This shift leads to a framework wherein a new perspective on business ethics and social responsibility emerges. It is coined as Corporate Responsibility. It consists of (a) good governance (b) corporate social responsibility (“CSR”) (c) environmental accountability. It discusses the role of top managers in achieving Corporate Responsibility through Organizational Transformation. This is the integrated approach to Corporate Responsibility that needs to be incorporated into International Standards of Social Responsibility. However, the major challenge is of evolving a strategy for laying down standards that take care of major issues and provide standards that are measurable, objective and universal. The three central issues of International Social Responsibility Standards are: 1. Acceptance of the tri-focal approach – Governance, Responsibility and Accountability. 2. Approach to methods of measurement is resolved. 3. The mandatory versus voluntary issue can be resolved only if issues of measurement and their universal applicability is resolved.

    Social responsibility standards and global environmental accountability : a developing country perspective

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    This paper argues that accountability, responsibility and governance go hand in hand. Evolving standards is a part of governance. Unless such a global perspective is adopted “Social Responsibility and the implications for Developing Countries”, which is the theme for this workshop, cannot be unraveled. The purpose of this paper is to highlight how Social Responsibility Standards and their relation to environmental sustainability cannot be addressed without relating it to Global Environmental Degradation, Global Environmental Accountability and Global Environmental Management. Also that there is a need to adopt the coercive connotation of accountability. It raises several issues in this context. The emphasis is on transorganizational development and the need for measurement. The limitations of evolving standards in this context are raised. It argues in favor of having differential standards. The main problem, for implementing differential standards is, however, that this would need a system of metrics that measures social dimensionalities and parameters. For this the new developments in environmental economics need to be incorporated into the framework of evolution of International Standards.Global Environmental Accountability; Corporate Social Responsibility; International Standards

    Business ethics and corporate responsibility:a new perspective

    Get PDF
    Starting from the famous but controversial statement of Peter Drucker (1981) - “There is neither a separate ethics of business nor is one needed”, this paper goes on to argue that business ethics and social responsibility are not unrelated. It shows how it is necessary to distinguish between business philosophy and philosophy of business. Through this distinction it develops a framework that relates the two – business ethics and CSR. It goes on to argue that there is a paradigm shift in the philosophy of business. This shift leads to a framework wherein a new perspective on business ethics and social responsibility emerges. It is coined as Corporate Responsibility. It consists of (a) good governance (b) corporate social responsibility (“CSR”) (c) environmental accountability. It discusses the role of top managers in achieving Corporate Responsibility through Organizational Transformation. This is the integrated approach to Corporate Responsibility that needs to be incorporated into International Standards of Social Responsibility. However, the major challenge is of evolving a strategy for laying down standards that take care of major issues and provide standards that are measurable, objective and universal. The three central issues of International Social Responsibility Standards are: 1. Acceptance of the tri-focal approach – Governance, Responsibility and Accountability. 2. Approach to methods of measurement is resolved. 3. The mandatory versus voluntary issue can be resolved only if issues of measurement and their universal applicability is resolved

    Social responsibility standards and global environmental accountability : a developing country perspective

    Get PDF
    This paper argues that accountability, responsibility and governance go hand in hand. Evolving standards is a part of governance. Unless such a global perspective is adopted “Social Responsibility and the implications for Developing Countries”, which is the theme for this workshop, cannot be unraveled. The purpose of this paper is to highlight how Social Responsibility Standards and their relation to environmental sustainability cannot be addressed without relating it to Global Environmental Degradation, Global Environmental Accountability and Global Environmental Management. Also that there is a need to adopt the coercive connotation of accountability. It raises several issues in this context. The emphasis is on transorganizational development and the need for measurement. The limitations of evolving standards in this context are raised. It argues in favor of having differential standards. The main problem, for implementing differential standards is, however, that this would need a system of metrics that measures social dimensionalities and parameters. For this the new developments in environmental economics need to be incorporated into the framework of evolution of International Standards

    Business ethics and corporate responsibility:a new perspective

    Get PDF
    Starting from the famous but controversial statement of Peter Drucker (1981) - “There is neither a separate ethics of business nor is one needed”, this paper goes on to argue that business ethics and social responsibility are not unrelated. It shows how it is necessary to distinguish between business philosophy and philosophy of business. Through this distinction it develops a framework that relates the two – business ethics and CSR. It goes on to argue that there is a paradigm shift in the philosophy of business. This shift leads to a framework wherein a new perspective on business ethics and social responsibility emerges. It is coined as Corporate Responsibility. It consists of (a) good governance (b) corporate social responsibility (“CSR”) (c) environmental accountability. It discusses the role of top managers in achieving Corporate Responsibility through Organizational Transformation. This is the integrated approach to Corporate Responsibility that needs to be incorporated into International Standards of Social Responsibility. However, the major challenge is of evolving a strategy for laying down standards that take care of major issues and provide standards that are measurable, objective and universal. The three central issues of International Social Responsibility Standards are: 1. Acceptance of the tri-focal approach – Governance, Responsibility and Accountability. 2. Approach to methods of measurement is resolved. 3. The mandatory versus voluntary issue can be resolved only if issues of measurement and their universal applicability is resolved

    Analyzing Environmental Kuznets Curve and Pollution Haven Hypothesis in India in the Context of Domestic and Global Policy Change

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    While the notion of Environmental Kuznets Curve (EKC), which relates economic development to pollution, is well established, there is controversy about its shape, incidence and determinants. Moreover, there is an avowed relationship between economic development and international trade. This leads to the conceptualization of the trade-environment triangle between type of economic development, environment and trade and investment. Therefore, the study of EKC is incomplete without accounting for the pollution haven hypothesis (PHH). The original EKC literature restricts itself to a quadratic form whereas the new literature establishes that a cubic form is more appropriate. Also, the traditional EKC literature with few exceptions (Murthy and Bhasin, 2016) is stand-alone and does not incorporate PHH. Against this backdrop, we evolve a framework, which is based on both the critical evaluation of extant studies and an extension of these studies to the Indian context. We model EKC using alternative model specifications to bridge the gap between conventional and modern EKC literature. We further synthesize a model that combines the effect of EKC as well as PHH in the Indian context. We substantiate a cubic form of EKC for India for the time period 1991 to 2014. With aggregate CO2 emissions as the dependent variable, the linear (2.34E-06), quadratic (-1.2E-18) and cubic (2.64E-31) terms are all significant with the right signs, which confirms an N-shaped EKC for India. We also validate PHH for India in our model integrating EKC and PHH. Even with per capita emissions as the dependent variable, existence of an N-shaped EKC is established. In this case however, evidence on the cubic term is rather weak (p-value = 0.1250), which points towards the difference in the socio-psychological factors that influence the revival of the upturn in the case of India. Also, FDI has a smaller influence in per capita terms, but its coefficient is more significant, which means that we cannot ignore this phenomenon yet numerically its impact is much smaller. Our findings are in accordance with the new literature, which is the basis of the trade, environment and economic development triangle. In terms of EKC the policy implication is that gains of green technologies are being wiped out by over-consumption of environmentally unfriendly goods. In terms of PHH the policy recommendation is clear that indiscriminate introduction and encouragement of FDI that raises the level of pollution is not welcome in India

    A Consumption Based Human Development Index and The Global Environmental Kuznets Curve

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    We extend the analysis of Jha and Murthy (2003) to relate consumption to environmental degradation (conceived of as a composite) within a cross-country framework. We use the method of Principal Components Analysis (PCA) to construct an Environmental Degradation Index (EDI) for each country and global environmental degradation (GED) as the sum of the EDI’s. We then identify outliers and influential observations among both the environmental and consumption related variables. Canonical Discriminant analysis is then used to classify development classes along environmental lines. We then estimate a simultaneous equation model to analyze the pattern of causation between per capita income, consumption and environmental degradation. We estimate a Global Environmental Kuznets curve (GEKC) as a relation between EDI ranks and ranks of the consumption-based EDI. A cubic representation is most appropriate with high-consumption countries contributing excessively to GED and middle-consumption countries slightly less. Low-consumption countries are contributing insignificantly to GED. Finally we present an alternative consumption-based Human Development Index to UNDP’s income-based Human Development Index. We then compare the ranking of countries according to the consumption-based HDI ranks with their ranking according to their EDI. Two sets of data drawn from the Human Development Report (HDR) UNDP(2000)) are used in the analysis. One relates to the environment and the other to developmental variables. For the formation of a composite index that would enable the estimation of a GEKC for 174 countries, we used cross-sectional data used in the HDR. The two main contributions of this paper are to build a consumption based HDI and to estimate a Global EKC based on consumption. A simultaneous equations model explains the causal structure that is responsible for Global Environmental Degradation. Further, with Canonical Discriminant Analysis it has been shown that GED does not have geo-physical basis but an anthropogenic basis. As a part of the system of equations a Global Consumption Function has been estimated that displays interesting results. In net, the paper attempts to establish that a certain ‘type of development’ that characterizes high consumption countries is primarily responsible for Global Environmental Degradation

    A Consumption Based Human Development Index and The Global Environmental Kuznets Curve

    No full text
    We extend the analysis of Jha and Murthy (2003) to relate consumption to environmental degradation (conceived of as a composite) within a cross-country framework. We use the method of Principal Components Analysis (PCA) to construct an Environmental Degradation Index (EDI) for each country and global environmental degradation (GED) as the sum of the EDI’s. We then identify outliers and influential observations among both the environmental and consumption related variables. Canonical Discriminant analysis is then used to classify development classes along environmental lines. We then estimate a simultaneous equation model to analyze the pattern of causation between per capita income, consumption and environmental degradation. We estimate a Global Environmental Kuznets curve (GEKC) as a relation between EDI ranks and ranks of the consumption-based EDI. A cubic representation is most appropriate with high-consumption countries contributing excessively to GED and middleconsumption countries slightly less. Low-consumption countries are contributing insignificantly to GED. Finally we present an alternative consumption-based Human Development Index to UNDP’s income-based Human Development Index. We then compare the ranking of countries according to the consumption-based HDI ranks with their ranking according to their EDI. Two sets of data drawn from the Human Development Report (HDR) UNDP(2000)) are used in the analysis. One relates to the environment and the other to developmental variables. For the formation of a composite index that would enable the estimation of a GEKC for 174 countries, we used cross-sectional data used in the HDR. The two main contributions of this paper are to build a consumption based HDI and to estimate a Global EKC based on consumption. A simultaneous equations model explains the causal structure that is responsible for Global Environmental Degradation. Further, with Canonical Discriminant Analysis it has been shown that GED does not have geo-physical basis but an anthropogenic basis. As a part of the system of equations a Global Consumption Function has been estimated that displays interesting results. In net, the paper attempts to establish that a certain ‘type of development’ that characterizes high consumption countries is primarily responsible for Global Environmental Degradation.

    A Consumption Based Human Development Index and The Global Environmental Kuznets Curve

    No full text
    We extend the analysis of Jha and Murthy (2003) to relate consumption to environmental degradation (conceived of as a composite) within a cross-country framework. We use the method of Principal Components Analysis (PCA) to construct an Environmental Degradation Index (EDI) for each country and global environmental degradation (GED) as the sum of the EDI's. We then identify outliers and influential observations among both the environmental and consumption related variables. Canonical Discriminant analysis is then used to classify development classes along environmental lines. We then estimate a simultaneous equation model to analyze the pattern of causation between per capita income, consumption and environmental degradation. We estimate a Global Environmental Kuznets curve (GEKC) as a relation between EDI ranks and ranks of the consumption-based EDI. A cubic representation is most appropriate with high-consumption countries contributing excessively to GED and middle-consumption countries slightly less. Low-consumption countries are contributing insignificantly to GED. Finally we present an alternative consumption-based Human Development Index to UNDP's income-based Human Development Index. We then compare the ranking of countries according to the consumption-based HDI ranks with their ranking according to their EDI. Two sets of data drawn from the Human Development Report (HDR) UNDP(2000)) are used in the analysis. One relates to the environment and the other to developmental variables. For the formation of a composite index that would enable the estimation of a GEKC for 174 countries, we used cross-sectional data used in the HDR. The two main contributions of this paper are to build a consumption based HDI and to estimate a Global EKC based on consumption. A simultaneous equations model explains the causal structure that is responsible for Global Environmental Degradation. Further, with Canonical Discriminant Analysis it has been shown that GED does not have geo-physical basis but an anthropogenic basis. As a part of the system of equations a Global Consumption Function has been estimated that displays interesting results. In net, the paper attempts to establish that a certain 'type of development' that characterizes high consumption countries is primarily responsible for Global Environmental Degradation.Consumption-based HDI, Global Environmental degradation, Environmental Kuznets Curve

    Market Integration in Wholesale Rice Markets in India

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    This paper tests for market integration in 55 wholesale rice markets in India using monthly data over the period January 1970 - December 1999. The technique of Gonzalez-Rivera and Helfand (2001) is used to identify common factors across various markets. It is discovered that market integration is far from complete in India and a major reason for this is the excessive interference in rice markets by government agencies. As a result it is hard for scarcity conditions in isolated markets to be picked up by markets with abundance in supply. A number of policy implications are also considered.
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