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Corporations and aspects of Labour Law
Finance & Accounting
Pages 12 (3012 words)
Does compliance with labour laws improve Corporate Governance and CSR? Abstract The success of Corporate Social Responsibility (CSR) policies of the companies in meeting its obligations towards the various stakeholders including the employees in their business operations hinges on effective policy framework in respect of labour relations in a country.
The principles of fairness, transparency and accountability need to be incorporated in corporate governance for a sustainable development. The role of the government in providing the framework helps in establishing the benchmark or threshold for the companies to follow the best practices is very important because, it influences policy making in the corporate world and instill competition among the companies in the positive direction by reorienting their strategies to become good corporate citizens for a sustainable development in the long run. The paper seeks to study and analyse the impact of compliance with labour laws by the companies on corporate governance and corporate social responsibility (CSR), and the need for active regulatory intervention in tune with the environmental changes for economic development. Introduction Industrial peace in one of the important criteria for the development of the economy in a country, and the government through its policies provide the framework and regulate the industrial relations within the country. ...
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