I/51j2isuf8jL.jpg' alt='Corporate Valuation A Guide For Managers And Investors Pdf' title='Corporate Valuation A Guide For Managers And Investors Pdf' />Investopedia is the worlds leading source of financial content on the web, ranging from market news to retirement strategies, investing education to insights from. Institutional Wholesale. Technologies to keep costs down and increase efficiency. FIS offers institutional and corporate solutions that increase your competitive edge. Corporate social responsibility facts, information, pictures. HISTORYNEGATIVE ASPECTS OF CSRPOSITIVE ASPECTS OF CSRTHE STAKEHOLDER CONCEPTGLOBAL ISSUESSPECIFIC CSR PRACTICESORGANIZATIONS INVOLVED IN CSRBIBLIOGRAPHYIn their 2. Business and Society Ethics and Stake holder Management, Carrol and Bucholtz describe corporate social responsibility CSR as the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time. The concept ofcorporate social responsibility means that organizations have moral, ethical, and philanthropic responsibilities in addition to their responsibilities to earn a fair return for investors and comply with the law. A traditional view of the corporation suggests that its primary, if not sole, responsibility is to its owners, or stockholders. Corporate Valuation A Guide For Managers And Investors Pdf' title='Corporate Valuation A Guide For Managers And Investors Pdf' />However, CSR requires organizations to adopt a broader view of its responsibilities that includes not only stockholders, but many other constituencies as well, including employees, suppliers, customers, the local community, local, state, and federal governments, environmental groups, and other special interest groups. Collectively, the various groups affected by the actions of an organization are called stakeholders. The stakeholder concept is discussed more fully in a later section. Corporate social responsibility is related to, but not identical with, business ethics. While CSR encompasses the economic, legal, ethical, and discretionary responsibilities of organizations, business ethics usually focuses on the moral judgments and behavior of individuals and groups within organizations. Thus, the study of business ethics may be regarded as a component of the larger study of corporate social responsibility. Corporate Valuation A Guide For Managers And Investors Pdf MergeFinancial economics is the branch of economics characterized by a concentration on monetary activities, in which money of one type or another is likely to appear. Carroll and Buchholtzs four part definition of CSR makes explicit the multi faceted nature of social responsibility. The economic responsibilities cited in the definition refer to societys expectation that organizations will produce goods and services that are needed and desired by customers and sell those goods and services at a reasonable price. Software Menghitung Rab Free. Organizations are expected to be efficient, profitable, and to keep shareholder interests in mind. The legal responsibilities relate to the expectation that organizations will comply with the laws set down by society to govern competition in the marketplace. Organizations have thousands of legal responsibilities governing almost every aspect of their operations, including consumer and product laws, environmental laws, and employment laws. The ethical responsibilities concern societal expectations that go beyond the law, such as the expectation that organizations will conduct their affairs in a fair and just way. This means that organizations are expected to do more than just comply with the law, but also make proactive efforts to anticipate and meet the norms of society even if those norms are not formally enacted in law. Finally, the discretionary responsibilities of corporations refer to societys expectation that organizations be good citizens. This may involve such things as philanthropic support of programs benefiting a community or the nation. It may also involve donating employee expertise and time to worthy causes. Wilhelm Autischer, the CSR project manager for an Austrian business, divides corporate social responsibility into three different dimensions. The first dimension is economic. CSR practices help not only the company, but the industry the company is in, by raising the bar of expected behavior overall. Papillon Henri Charriere. Investors, seeing one company adopt CSR policies will be naturally inclined to invest in that company, having seen it demonstrate responsibility. Other companies in the same field, seeing the benefits to CSR, will adopt similar policies as an act of competition, and the attitude of the industry will gradually change. This saves economies from suffering declines through fraudulent business practices. The second dimension is social. By this Autischer does not necessarily mean creating a better society through specific initiatives by the business, but rather refers to a more internal change. As a company integrates CSR practices into its structure, the way it treats employees will inevitably change. Individual interests are treated with more respect in CSR conscious companies, and concerns such as employee health and family relations are considered. Employees, benefiting from increased care from the company in whatever form it takes, carry the positive influence home, influencing their families and society as well. The third and last dimension is ecological. Companies take ecological responsibility primarily in two ways. First, they adopt precautionary practices, or practices that attempt to secure a healthy and productive ecological environment for future generations and the future of the company. Wielka Historia Polski Ebook. This forward looking action can include research into alternative technologies and waste management in production processes. The second action of the ecological dimension is eco efficiency, or the increase in economic efficiency through better ecological practices. These sort of actions reduce unhealthy emissions, replace unsafe chemicals with harmless versions, and market more natural products. Many eco efficent policies are also precautionary, but the main difference is that companies are looking for better profits through eco efficiency, while precautionary actions are taken primarily on ethical grounds. The three dimensions of CSR are practiced in a number of ways. Some of the more common policies, seen often in companies social information sections, include Reform of internal controls and accounting habits, seen especially after the series of accounting scandals that produced the Sarbanes Oxley legislation. Policies encouraging diversity in the workplace and discouraging any type of discrimination. Reversal in corporate thinking regarding employees, a change from looking at them as costs to looking at them as assets. Resource productivity, or the use of more natural resources in production and manufacturing, leading to an ecologically cleaner product and often creating recyclable products. Polices regarding treatment of contract employees, especially in outsourced positions located in other countries. Companies have taken an increased interest in CSR for a combination of reasons. The role government has played in legislations requiring certain social behaviors has decreased, giving businesses more freedom to decide their social responsibilities themselves. Investors and customers alike have begun to demand stricter policies on the part of companies regarding not only their attitudes toward the environment and the people they interact with, but also how much information they reveal. Faced with more open inspection encouraged by such acts as Sarbanes Oxley, companies are beginning to pay more attention to what their financial records prove they are doing. Many investors, realizing that ethical issues play a large part in how much they know and how successful their investments become, are forcing companies to show that ethical practices are being established. Many companies have applied their CSR guidelines to the hiring process as well, seeking out employees who have ethical credentials or who agree with the companys moral standards. To keep such employees, businesses are paying more attention to the way they treat their work force, including the incentives they provide for performance and working conditions.