Enlightened Shareholder Value: Is It the New Modus Operandi for Modern Companies?

Andreadakis, Stelios

doi:10.1007/978-3-642-31579-4_18

Cited by 8 publications

(3 citation statements)

References 53 publications

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“…For instance, section 417 of the English Companies Act recognizes this model of CSR in UK. Academics and business communities have given considerable attention to ESV, 187 and it is believed that socially responsible and ethical engagements do not contradict with the obligation to maximize shareholder value. Thus, companies shall undertake CSR although they are not expected to replace the government and NGOs in social and environmental concerns.…”

Section: The Need For Paradigm Shiftmentioning

confidence: 99%

Towards Effective Models and Enforcement of Corporate Social Responsibility in Ethiopia

Demamu¹

2020

Miz Law Rev

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Corporate Social Responsibility (CSR) is a concept whereby companies regard stakeholder interests in reaching corporate decisions on voluntary basis. Even though CSR is not alien to Ethiopians who are known for their philanthropic and charitable activities, there is no law that expressly requires CSR standards and thresholds. Provisions of the 1960 Commercial Code and other domestic laws show that Ethiopian companies have the option to comply with CSR in their core business strategy and decision making. To that end, companies, have either individually or at sector level, developed model codes of conduct and guidelines including CSR projects and initiatives. However, these are inadequate and they do not guarantee effective CSR behavior among companies. There is thus the need to adequately integrate CSR practices into their core business decisions, and meet the interests and legitimate expectations of their employees, creditors, customers, local communities, and the environment. I argue that the alternatives to ensure effective CSR regulation in Ethiopia are adopting the Enlightened Shareholder Value (ESV) which recognizes a CSR framework tighter than the existing shareholder primacy model, or the Responsible Stakeholder Model (RSM) which adopts more subtle and lighter principles than stakeholder model to demand CSR compliance.

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Section: The Need For Paradigm Shiftmentioning

confidence: 99%

Towards Effective Models and Enforcement of Corporate Social Responsibility in Ethiopia

Demamu¹

2020

Miz Law Rev

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“…Smith v Barlow, a US court dismissed shareholders' claim that a donation made to a university which was not expressly authorised by the corporate constitution constituted a breach of the directors' duties. In holding that contemporary 'conditions require that corporations acknowledge and discharge social as well as private responsibilities' 2 the court confirmed that specific provisions in corporate constitutions are not necessary for CSR to be undertaken. Nevertheless, questions arising in the context of recognition of education in company law frameworks for CSR include: What is education?…”

Section: Introductionmentioning

confidence: 99%

Orchestration of Corporate Social Responsibility in Company Law – Reframing Human Security through Education

Osuji,

Edeji

2023

Preprint

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This paper aims to argue the fundamental significance of education in addressing notable gaps in the constitutive, performance, and evaluation criteria for corporate social responsibility (CSR) and endeavours to showcase the complementarity between education, human security, sustainable human development, and the pursuit of CSR as an ideal normative paradigm. An abstractive approach to studying CSR engages with corporate philanthropy, which has not been helpful outside traditional CSR paradigms without looking at key dynamics that can robustly underpin successful CSR. It relies on the systematic analysis of written data sources to theoretically explore the central significance, and complementarity between human security, education, and human dignity and how they can orchestrate a holistic CSR paradigm. In 1994, the UNDP in formulating the human security doctrine recognised the syncretic correlation between human security, education, and sustainable human development as fundamental elements that should underpin CSR. This paper contends that these are necessary intrinsic components of human dignity as the central factor that justifies a multi-dimensional and proactive approach to CSR. Despite the criticisms against human security, this paper identifies it as an important concept that could instrumentally orchestrate a model of CSR that uniformly mainstreams sustainable human development and human dignity that leverages education which has routinely and traditionally been seen as a constitutive component of CSR. It reveals how a holistic path to CSR can reinvigorate the central pillars of human security and human dignity using education as a springboard and makes a compelling case for supporting explicit references to education in company law with appropriate human security informed constitutive, performance, and evaluation criteria which are absent in existing legally orchestrated CSR.

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“…Embid y Del Vals (2016:57) presentan esta teoría estadounidense como una actualización de la corriente contractualista occidental, ya que en ambas "la maximización del valor para el accionista en el largo plazo redunda en el beneficio de todos los grupos de interés empresarial". Sobre el estudio de esta teoría en el plano americano puede verse Hayden & Bodye (2010) o Andreadakis (2012). 59 Sánchez -Calero Guilarte explica esta evolución de teorías refiriéndose a la conexión entre interés social y la situación económica del momento, y la falta de satisfacción plena en el día a día de las empresas por la teoría contractualista.…”

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Las Empresas B (B Corps) y la regulación de las sociedades con propósito (benefit corporations) en Derecho comparado1

Vargas

2022

Rev. estud. coop.

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Este estudio tiene por objeto analizar algunos aspectos de las Empresas B (conocidas por la abreviatura B Corps), un tipo de empresas que estatutariamente reconocen la orientación de su actividad hacia la consecución de intereses distintos al estrictamente económico. Estas empresas integran el conocido como “movimiento B”, impulsado por la fundación B Lab, la cual certifica con un sistema de medición propio el impacto social y medioambiental de estas entidades. Tras una introducción a este fenómeno empresarial, se expondrá el origen, evolución y expansión de las B Corps en distintos países del mundo. También, se abordará el proceso de obtención de este sello privado en las diferentes áreas en las que se divide la Evaluación del Impacto B: gobernanza, trabajadores, comunidad, medio ambiente y clientes. Posteriormente, se valorarán las diferentes obligaciones contractuales y societarias necesarias para conseguir la acreditación B Corp, deteniéndonos en las teorías que definen el objeto social de una sociedad y analizando la posibilidad de que estas regulen estatutariamente la consecución de fines distintos a los económicos. Finalmente, debido a la obligación impuesta por B Lab, las empresas B Corp que se certifiquen en un país en el que exista una legislación benefit corporation tendrán que adoptar este estatuto jurídico, lo cual nos dará paso a la contraposición de las B Corp, y las benefit corporations o sociedades con propósito; concluyendo este apartado con un análisis comparado de las legislaciones existentes que normativizan esta figura.

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Enlightened Shareholder Value: Is It the New Modus Operandi for Modern Companies?

Cited by 8 publications

References 53 publications

Towards Effective Models and Enforcement of Corporate Social Responsibility in Ethiopia

Towards Effective Models and Enforcement of Corporate Social Responsibility in Ethiopia

Orchestration of Corporate Social Responsibility in Company Law – Reframing Human Security through Education

Las Empresas B (B Corps) y la regulación de las sociedades con propósito (benefit corporations) en Derecho comparado1

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