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Essay example - What Is The Likely Influence Of Institutional Investors On Corporate Social Performance?
Pages 5 (1255 words)
In today's competitive market atmosphere, business is dealing with a new set of challenges that are not merely economics-related. To endure and flourish, firms should link economic and social systems…
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The World Business Council for Sustainable Development proposes a definition for CSR which is " CSR is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large". Reference (this definition was developed in 1998 for the first WBCSD CSR dialogue in The Netherlands.)
There has been an increasing role of CSR in the community these days. This is because of the impact of globalization, where the effects of actions on the other side of the world are being debated in the press. There is also increasing attention from investors through the rise of socially responsible investment or SRI. Investment in ethical funds was given a boost when pension funds were obliged to state whether they took into account social and environmental impacts. The reason behind such an investment is that firms that closely manage their social and environmental conditions are subject to less risk, are possibly better managed and thus will also turn out as better investment, as well as satisfying a principled standard. ...
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