CSR Values Research Articles

Using compositional and functional indicators for biodiversity conservation monitoring of semi-natural grasslands in Scotland

Compositional indicators (i.e. indices that focus on the identity of species, genes or phylogeny) have been widely used to estimate and monitor biodiversity, however, their use in combination with species and/or community functional characteristics remains limited. Using large-scale, spatio-temporal data, we use both compositional and functional indices to investigate land-use change impacts on the vegetation of a semi-natural grassland ecosystem (Machair) for fourteen regions in Scotland, UK. Our study aimed to identify national- and regional-scale temporal vegetation patterns, and through use of simple compositional and functional indices (e.g. Competitor, Stress, Ruderal and Ellenberg scores) link observed changes to agricultural intensification and/or land-use abandonment. Using linear-mixed modelling and non-metric multi-dimensional scaling, we showed significant national and regional-scale changes in species composition over time. Increases in diversity, particularly gains in Machair grassland, identified several regions that may have benefited from past government incentivised schemes to protect the Machair, but which may also be suffering from an extinction lag. Shifts in plant functional signatures (CSR & Ellenberg values) identified varying degrees of internal (competition) and external (land-use) factors, highlighting several regions where biodiversity change could be linked to reduced disturbance (i.e. lower grazing intensity) or greater disturbance (i.e. land-use intensification). Our results demonstrate the utility of simple compositional and functional indices for monitoring biodiversity of semi-natural grasslands and identifying land-use drivers of change across different spatial scales.

Determining the ash composition of coal by X-ray spectrometry

For timely determination of the ash composition in coal, chemical analysis has been replaced by X-ray analysis using a Spectroscan MAX-GV spectrometer at OAO Koks. That permits prompt determination of the ash basicity, which affects the reactivity and hot strength of the coke. The plant’s coal purchases are optimized to stabilize and improve the coke’s CSR and CRI values.

A real options approach to implementing corporate social responsibility policies at different stages of the mining process

Purpose – The purpose of this paper is to introduce the concept of “optionality” of corporate social responsibility programs in the mining sector. It is postulated that the degree of commitment and implementation varies with the different stages of the mine life cycle. Design/methodology/approach – The methodology/approach applied in this paper follows that of complex systems theory. The authors recognize that elements of CSR do not function/occur in isolation but rather operate in a complex and dynamic system. Findings – The findings presented in the paper indicate that there is a not a single “silver bullet” approach to CSR but rather one that ebbs and flows with not only the technical stage of development of a mine but also those extra- economic modifiers that influence a mine's performance and survivability in a competitive global market. Research limitations/implications – The limitations of this particular paper/research is the inability to get a complete set of cost data from any single mining operation. This is due to the highly confidential and proprietary nature of this data, hence a hypothetical/theoretical case is presented. Practical implications – The practical implications of this research include recognizing the different stages of the mine life cycle cause different applications of CSR policy development and implementation. The authors present a view of a flexible and reflective CSR application. Originality/value – This is the first and novel attempt to consider the actual value and commercial implication of CSR using the methods of real options within the broader theoretical framework of complex systems.

Firm Voluntary Measures for Environmental Changes, Eco-Innovations and CSR: Empirical Analysis Based on Data Surveys

Despite the increased strategic importance of environmental innovation on the one hand and corporate social responsibility on the other, there are still few studies that show firm voluntary measures create a primary determinant of environmental changes. First, we clarify the meaning of voluntary measures and CSR. Second, we utilize a survey carried out in Luxemburg on firm CSR practices jointly with the Community Innovation Survey 2008 (CIS 2008). We merge them and show through the estimation of a probit model that CSR is an important factor that explains environmental innovation. Thanks to a question from CIS 2008 we can contribute to the literature by developing a new indicator measuring the scale of the positive impacts on the environment coming from the firm technological innovation capacity. A negative binomial regression enables us to estimate a significant and positive effect of CSR and firm value on this scale.

公司收购中企业社会责任问题

对公司收购施以社会责任之要求，事实上构成了对公司收购的一种阻碍，这与长久以来立法将公司收购市场作为公司治理的重要机制之一，促进公司收购市场发展，发挥其增进资本流动和管理层经营效率等作用的宗旨却有所背离。目前各国纷纷效仿的英美公司收购立法，对于公司收购中社会责任的价值判断，体现于对不同利益冲突的具体权衡之中，其核心是在公司和股东利益与利益相关者利益之间寻求平衡点。我国近年来有关公司立法一方面强化了公司和股东利益保护，另一方面，也引入了公司社会责任的理念。我国对公司目标的定位与美国相同，但又采纳了英国股东单独决定收购要约的模式，实际免除了管理层对利益相关者的信托义务。实践中对于国有股权、产业发展、经济安全和“民族品牌”的保护尤为重视，为利益相关者采取收购防御措施的很少，通过非法律途径的居多，内部人控制严重问题与国有资产管理体制的缺陷结合起来，实际演变成目标公司董事会与收购者之争。建议增加管理层的话语权、强化管理层的信托责任并借鉴西方成熟的司法规则，减少公司收购中不规范的利益诉求方式。Considering CSR is a kind of block in company takeover, CSR as a common tool of takeover defense in practice deviates from the legal aim to promote company takeover market and takes advantage of its function in company governance. Nowadays, company takeover law in USA and UK are fol-lowed by most countries to help finding the value of CSR and balancing different interests in judicial judgment. In recent years, China’s company legislation drew into CSR while intensifying the protection of company and shareholders, and learned both from USA and UK in company takeover aim and decision model, which in fact excused the management from duties for stakeholders. In China’s practice, it was paid more attention in protecting state owned shares, industry development, economic safe and national brands, and less in takeover defense for stakeholders through legal ways. Inner control and problems in system of state owned assets, triggered the fighting between the board of directors in target company and the acquirer. It is proposed to increase the power of management in company takeover and consolidate their duties for stakeholder to decrease the nonstandard claims in company takeovers.

Economic performance of Czech business entities in the context of CSRs' implementation

The term responsible entrepreneurship refers to economic success of a business by the inclusion of social and environmental considerations into a company’s operational processes. It satisfies customers’ demands, whilst also managing the expectations of employees, suppliers and the surrounding community. In general, the term Social Corporate Responsibility means a positive contribution to society including management of enterprise’s environmental impacts. The major determinants of the CSR values can be explored such as economic, cultural and leadership factors. Corporate Social Responsibility has been receiving increased attention also from bodies which give certification to companies with CSR in practice. There are different certificates which companies can apply for, if being „responsible“, such as SA 8000, GRI, AA1000, IiP or ISO26000. The aim of this paper is to introduce various certificates, namely SA 8000 and look in details on economic data of 9 companies, chosen from 25 in the Czech Republic, which received this label.Both traditional and modern indicators for assessment of business entities’ economic performance within the entity sample are employed as the inclusion of the economic factors on the CSR. Indices of credibility in order to evaluate the financial status of sample entities are utilised as well. The mentioned economic analysis is managed both in the period before the implementation of the certified CSR system and in the ex-post period. The results of economic analysis in the period before receiving the SA8000 certificate are evaluated using the mathematic-statistical methods to reveal development trend regarding their economic performance and to conduct comparison to respective industrial means.

CSR in the aftermath of the financial crisis

Purpose – The purpose of this paper is to examine the literature of CSR before and in the aftermath of the financial crisis in 2008. The aim of the research question is to map out the consequences upon CSR derived from the crisis and to derive new principles of future CSR models to come consistent with the consequences of the financial crisis, and to suggest new research as well as policy-making possibilities to highlight the importance and necessary survival of CSR as an instrument for sustainable and financial progress. Design/methodology/approach – This paper uses a literature review of CSR prior to and after the financial crisis 2008, with an emphasis on academic papers published in peer-reviewed journals. Findings – The findings of the paper reveal that post-crisis CSR-models do not articulate anything that has not been mentioned before; however, they do strengthen former values of CSR, but still lack an overall formula of how the financial sector can adopt CSR in the core of their businesses, and tr...

Can breakthrough innovations serve the poor (bop) and create reputational (CSR) value? Indian case studies

Though radical and complex reengineered product innovations are not discussed much in either the ‘Corporate Social Responsibility’ (CSR) or the ‘Base of the Income Pyramid’ (BoP) literature, both support the premise that if an innovation serves the poor, then it will generate CSR gains. To test this assumption with respect to breakthrough technological innovations, the present paper proposes a theoretical construct and uses it to examine two innovations launched in India, namely genetically modified cotton seeds and a HIV/AIDS drugs cocktail. Because firms decide on innovation outlays to maximize profit without including an explicit CSR component, it develops indicators to examine if any involuntary CSR effort was embedded in the innovation strategy. It confirms that though firms do not invest in innovation to earn CSR credit, some breakthrough technological innovations, not all, can trigger CSR returns. There are tradeoffs between CSR effort and BoP innovation market value. Higher the consumer surplus generated by the innovation, better the bargaining position of the innovator vis-à-vis contestations. The windows of opportunity for generating BoP market value and CSR value are context specific. A robust business strategy rather than philanthropy is needed for breakthrough technological innovations to be marketed to BoP communities.

From Implicit to Explicit CSR in a Scandinavian Context: The Cases of HÅG and Hydro

The aim of this article is to explain the transition from implicit CSR to explicit CSR that has taken place in Scandinavia over the last two decades. Matten and Moon’s (Academy of Management Review, 33:404–424, 2008) distinction between implicit and explicit CSR is the point of departure for the analysis, which is based on case studies of two Norwegian companies: HAG and Hydro. On the basis of these case studies, we identify two forces that are pushing the transition from implicit to explicit CSR in Scandinavia: (1) Organizational expressiveness and (2) Re-legitimizing. Both of these measures are adjustments to the globalization of the economy, altering the competitive situation even in highly institutionalized, Scandinavian economies. HAG, a midsized Norwegian manufacturer of office chairs, made CSR and environmental values an integral part of their expressive strategy in the early 1990s. Hydro, a big Norwegian aluminium producer, made CSR an explicit issue around the turn of the millennium, in an attempt to re-legitimize their business operations in a new market situation where plants in local communities in Norway were shut down and relocated to less regulated regimes in low-cost regions abroad.

Effect of reaction conditions on coke tumbling strength, carbon structure and mineralogy

An experimental study was carried out to examine the effect of different reaction conditions on the changes in the tumbling strength of coke samples from two types of pilot-scale coke ovens. Cokes were reacted with different CO2 concentration and different duration at the CSR test temperature of 1373K and 1573K. Tumbling strength of the reacted cokes was measured using a typical CSR test routine. Carbon structure and mineralogy of cokes was measured using X-ray diffraction. Under the test conditions, temperature is shown to have the most significant impact on the modification of coke properties when compared to CO2 concentration or the reaction duration. The tumbling strength of cokes reacted at 1573K were found to be higher than the CSR value of the original cokes. With increasing temperature of the tests, low CSR cokes indicated a greater improvement of the tumbling strength. High tumbling strength cokes indicated high ordering of carbon structure and lesser amounts of reactive iron-bearing minerals. The effect of temperature on the improvement of tumbling strength can be related to the adverse effect of increased ordering of carbon structure and decreased proportion of iron-bearing phases on the coke reactivity, both being more notable in case of low CSR cokes. The study has implications on the efficient utilization of low premium coal resources and for the true assessment of coke performance in a blast furnace.

Corporate Humanistic Responsibility: Social Performance Through Managerial Discretion of the HRM

The Corporate Social Performance (CSP) model (Wood, Acad Manag Rev 164:691–718, 1991) assesses a firm’s social responsibility at three levels of analysis—institutional, organizational and individual—and measures the resulting social outcomes. In this paper, we focus on the individual level of CSP, manifested in the managerial discretion of a firm’s principles, processes, and policies regarding social responsibilities. Specifically, we address the human resources management of employees as a way of promoting CSR values and producing socially minded outcomes. We show that applying the humanist philosophy to the managerial discretion of a business organization leads to the creation of an “autonomy supportive work environment”—as defined by the self-determination theory—which in turn, facilitates the internalization of social values, citizenship behaviors, and cooperation. The objective of promoting self-determination at work (i.e., the core of a humanist management) fits well with the ontology of social responsibility since autonomy and consideration of individuals as moral actors are central tenets. Furthermore, we show that applying humanistic management philosophy to the discretion of managers can lead to socially responsible outcomes. First, intra-organizational stakeholders (e.g., employees) are treated with respect and focus is put on their well-being, satisfaction, and self-actualization at work. Second, as employees’ need of self-determination is addressed by managers, it is likely that pro-social behaviors toward other stakeholders of the organization will be adopted, leading to socially responsible outcomes for extra-organizational stakeholders (Gagne, Motiv Emot 77:58–75, 2003). Thus, this paper ultimately posits that humanistic management applied to the HRM can be a solution for developing and maintaining socially responsible outcomes as determined at the individual level of the CSP model, through managerial discretion.

Is There an Ethical Premium? Experimental Evidence

Do investors prefer the stocks of firms that exhibit a high degree of CSR? The bulk of empirical studies use market data to assess the value of CSR. In an experimental situation, subjects asked to assess stocks tend to overvalue, by one third on average, the stock of a company with an AAA CSR rating compared to when they do not have access to this information. We controlled that the increase in fundamental value is the consequence of a purely ethical behavior, not a disguised financial one. Moreover, a bad CSR rating does not seem to be penalized.

Firm voluntary measures for environmental changes, eco-innovations and CSR: Empirical analysis based on data surveys

There are still few studies that show firm voluntary measures create a primary determinant of environmental changes. We clarify the meaning of voluntary measures and CSR. We utilize a survey carried out in Luxemburg on firm CSR practices jointly with the Community Innovation Survey 2008. We show through the estimation of a probit model that CSR is an important factor explaining environmental innovation. We contribute to the literature by developing a new indicator measuring the scale of the positive impacts on the environment coming from the firm innovation capacity. There is significant and positive effect of CSR and firm value on this scale.

Creating CSR values or co-creating sustainable living? A critical discourse perspective

Engaging in CSR and sustainability is considered a path to value creation (Paine 2003; Arvidsson 2009). However, in order to be recognized as an authentic and legitimate value among stakeholders, CSR must be aligned to corporate strategy (Porter & Kramer 2006; Galbreath 2009). So far many organizations have succeeded in incorporating CSR into their strategy. One of the Scandinavian frontrunners is IKEA, a company which has led the way in transforming its business model into a CSR brand strategy focusing on diversity management, energy reduction, sustainable production methods etc. However, from a sustainability perspective IKEA seems to adopt a contradictory approach in practising sustainable production while fostering unsustainable (over)consumption. Prahalad & Ramaswamy (2004) suggest that the notion of co-creation is one way of overcoming this dilemma by inviting customers to actively engage in value creating processes. However, based on a qualitative content and discourse analysis of IKEA’s CSR and sustainability report, we demonstrate and critically discuss how predominant CSR practices and existing CSR co-creation processes at IKEA not only maintain a dominant firm-centric corporate rhetoric and discourse, but also create an illusion of consumer empowerment and creative prosumer agency.

Market Orientation, Firm Performance And The Mediating Effect Of Corporate Social Responsibility

This study examines the effect of CSR disclosure and MO on firm performance as well as the mediating effect of CSR on the relationship between MO and firm performance. These relationships are examined based on content analysis of 242 Malaysian public listed companies annual reports for 2006, 2007 and 2008. Results of this study provide evidence that CSR activities communicated in corporate annual reports are important business strategy in creating continuous superior performance for organisations. The results also indicate that MO companies are integrating CSR activities into their business strategies. However, the insignificant mediating effect of CSR on the relationship between MO and firm performance indicates that MO and CSR strategies have not been effectively integrated in creating a synergistic effect that can bolster firm performance. Overall, findings in this study indicate the strategic value of CSR in creating economic sustainability for organizations even in an environment characterised by concentrated ownership structure where the companies may be less market focused.

Alpha's Tale: The Economic Value of CSR

Numerous studies report empirical evidence that trading strategies based on CSR information – often going ‘long’ the CSR ‘leaders’, and ‘short the ‘laggards’ – produced risk-adjusted investment profits (CSR Alpha). The claim of CSR Alpha is often used by SRI proponents and investment managers to convince mainstream investors that they can do well by doing good, potentially offsetting opportunity costs incurred by ethics/values-based screening. Although the thesis is attractive, claiming the presence of CSR Alpha begs an important question: Did the high (low) social responsibility standards of companies cause the strong (weak) stock returns – or – were these returns caused by risk or other underlying – perhaps time-period-specific – factors that happen(ed) to be correlated with CSR performance? SRI proponents would like to claim causality between CSR and returns, but such a causality relationship implies that CSR Alpha was the product of stock market inefficiencies; investors would have misevaluated the importance of CSR performance for future operating cash flows. Our findings suggest that CSR Alpha arose because investors have historically overlooked the full value relevance of CSR information, thus being surprised at the earnings performance of CSR leaders and re-evaluating their assessment of companies‘ prospects upon earnings announcements. Using market-based measures such as earnings announcement surprises, analyst forecast errors and Tobin's q, the paper lends credence to the claim that CSR caused stock returns. However, proposing that recent institutional pressures to incorporate ESG factors have improved investors' attention to and hence treatment of CSR information (eg. UN PRI), I find evidence suggesting that the stock market now more fully reflects the value relevance of CSR information, laying doubt on the view that best-in-class strategies will continue to outperform. These findings shed light on the future viability of responsible investment strategies, implying that focus will move away from security selection and towards new approaches to strategic asset allocation, impact investing, and shareholder engagement. These latter strategies will be increasingly recognized for their potential to generate economic value. As the paper suggests, CSR creates shareholder value. Disputing the anti-thesis of reverse causality that relies on slack resources theory, it brings clarity to a 40 year-old debate that questioned the economic value of CSR. I discuss the implications of CSR's suggested economic role, the capital market's appreciation of this role, and explore how institutions can affect more economically efficient and sustainable behaviour at the level of capital markets and strategic management. Findings yield substantial support for the work of institutional players like the UN PRI for helping improve capital market efficiency and thus affecting more economically efficient and sustainable corporate behaviour. The tale of CSR's Alpha borrows from a rich assortment of over 500 scholarly articles for its foundation. Applied to actual developments in the investment industry, it yields significant findings for academics and practitioners alike in the fields of sustainability, management, capital markets, investment, finance, political science, law, ethics and institutionalism.

Assessing the ash composition and properties in mathematical models of CSR and CRI: A review

Quantitative characteristics of the chemical composition (Ub and Ib) and properties (melting point, actual density) of ash used in predicting CSR and CRI for coke are analyzed. It is found that Ub and Ib are interdependent but are not analogs, since the first includes the ash content of the coal, whose variation affects the ash composition. Because of the considerable discrepancy in the Ub and Ib values calculated from the actual density or chemical composition of the ash and used in the prediction of CSR and CRI, there will be a great discrepancy between the actual and predicted values of CSR and CRI (7–11%).

Influence of gas composition on the reactivity of cokes

The NSC reactivity test is often criticised for not being able to accurately predict the performance of cokes in the blast furnace. One explanation proposed for this inaccuracy is that the gas used in the NSC test, pure carbon dioxide, is different to the gas that coke is exposed to in blast furnaces, which is a complex mixture including carbon monoxide, carbon dioxide and nitrogen. The aim of this work was to see to what extent different cokes behaved differently during the NSC test under different gases. Nine Australian coals, used in coking blends, were selected to cover a wide range of rank, maceral composition and elemental composition of the mineral matter. These coals were coked and their relative reactivities in a series of gas mixtures were compared. The time for the reaction of the coke in a 30% CO 2/70% CO mixture was set to eight hours to give about the same weight loss as two hours exposure to 100% CO 2. The main conclusion of this study was that gas composition (using mixtures of CO, CO 2 and N 2) had little effect on the relative rate of gasification of cokes over a wide compositional range of gas and of coke (although of course the absolute reaction rate decreased with decreasing CO 2 levels). The previous studies that suggested changes in gas composition affect the relative reaction rate of different cokes were misleading because they performed the studies at constant burnoff time (2 h) rather than ensuring the cokes were reacted to about the same weight loss. Thus any differences between the behaviour of cokes in the NSC test and in the blast furnace are not due to differences in gas composition between the two. The CSR value was found to be a combination of strength and reactivity: for the data in this study, CSR was determined by a two-component fit involving CRI and the I600/10 index (the strength of the unreacted coke as measured by the CSR tumble test).

Responsible Leadership Outcomes Via Stakeholder CSR Values: Testing a Values-Centered Model of Transformational Leadership

A values-centered leadership model comprised of leader stakeholder and economic values, follower values congruence, and responsible leadership outcomes was tested using data from 122 organizational leaders and 458 of their direct reports. Alleviating same-source bias concerns in leadership survey research, follower ratings of leadership style and follower ratings of values congruence and responsible leadership outcomes were collected from separate sources via the split-sample methodology. Results of structural equation modeling analyses demonstrated that leader stakeholder values predicted transformational leadership, whereas leader economic values were associated with transactional leadership. Follower values congruence was strongly associated with transformational leadership, unrelated to transactional leadership, and partially mediated the relationships between transformational leadership and both follower organizational citizenship behaviors and follower beliefs in the stakeholder view of corporate social responsibility. Implications for responsible leadership and transformational leadership theory, practice, and future research are discussed.

Rational coke preparation for blast furnaces

The relation between the CSR and CRI values of coke and its familiar characteristics is analyzed. The strength and reactivity of coke differ over the blast-furnace height. The economic importance of each of these properties may only be established for specified blast-furnace conditions and technology. The systems for coke stabilization must be selected on the basis of the specific properties of the coke. There can never be a general solution. The optimal stability must be determined for each coke-furnace combination. Literature sources that address the following issues are identified: the equipment for improving coke properties; the necessary processes and their regulation; and the method for determining optimal blast-furnace conditions on the basis of the characteristics of the specific coke-furnace system.