Stakeholder Engagement and Sustainable Corporate Community Investment

This paper presents the findings of research exploring the value and impacts of corporate community investment (CCI) through community partnerships. The research considered the community partners' perceptions of the value and impact of CCI. We adopted an inquiry paradigm utilising constructivist ontology, interpretivist epistemology and a case study method. In dialogue with Wesfarmers Ltd's community partners, the ‘realities’ presented by these beneficiary stakeholders were interpreted and understood (verstehen). While the CCI programmes with each of the not‐for‐profit organisations had different objectives, we were able to classify, under broad headings, the nature of the benefits to the community. One question highlighted is whether all corporate investing is the same? We found two aspects to this: the strategic fit for the community organisation of proposed investment and whether the corporate partner sought a relational as opposed to transactional approach to funding provision. Recommendations can be made for the funding structure deemed to be most effective from the community partners' perspectives. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment     

Partnerships in Local Government: The case of transition support services for young people with learning disabilities

Abstract

This paper examines a type of partnership that is formed to deliver transition support services for young people with learning disabilities. What makes transition partnerships instructive for partnership research is that they are constituted between statutory and non-statutory agencies across a wide range of service sectors. Transition for this population group with its specific needs has often been described as a ‘wicked problem’. The paper suggests that a split between strategic and operational levels of partnership work adversely affects policy implementation and contributes to the inability of stakeholders to bring about improved outcomes for service users.     

Industrial and regional restructuring and changing form of state intervention: the development of partnerships in postwar Japan

This paper looks into the question of the cooperative form between the public and private sectors, which has become notable recently in contemporary capitalist societies as a new device of state intervention. It examines the development of partnerships in postwar Japan, by tracing how the structure and characteristics of partnerships have evolved in accordance with the changing mode of state intervention over the past four decades, and assesses the spatial outcomes of partnership activities. Since the early 1970s, partnerships have manifested attributes identified as the signs of a changing regime and have encouraged a deeper division of the country’s spatial structure. The argument is thus made that partnerships have served to carry out industrial restructuring, whereby the spatial structure of the country has been further incorporated into the global economy. The paper concludes with the theoretical implication that the current partnership was designed as an apparatus to incorporate non-market segments into commodity relations, thereby providing a new path of capital accumulation.     

Motivations and forms of corporate giving behaviour: insights from Australia

• Although corporate support for many nonprofit organisations (NPOs) represents only a relatively small component of their overall income its importance is growing. As a consequence, the need to understand corporate giving behaviour in a way that supports the development of strategically targeted and successful marketing campaigns is of growing importance to marketing managers in many NPOs around the globe.
• This paper presents the findings of a study into the ‘why’ and ‘how’ of corporate giving behaviour in Australia. In the seven case studies examined, there was no strong evidence that Australian corporations give for other than strategic profit maximisation or political reasons. In contrast to the literature, altruistic and managerial utility did not emerge as strong motivational factors.
• This study also found that corporations are likely to have a number of corporate giving programmes each with its own underlying motivation and strategic purpose which network together to form a hierarchy of corporate giving programmes.
• The paper concludes by discussing the implications of this research for NPO managers attempting to increase their level of corporate support.

Copyright © 2007 John Wiley & Sons, Ltd.     

Cause‐related events: fulfilling the objectives of social partnerships

• Cause‐related events are growing in frequency and popularity. These events enable corporates and not‐for‐profit organisations to collaborate for mutual benefit, within the strategic framework of a social partnership. However, while anecdotal evidence indicates that millions of dollars are invested in events, less is known about how the strategic objectives of social partnerships are achieved via cause‐related events. We present the findings of an ethnographic study of two social partnerships and contribute insights into how and why events help them achieve their strategic objectives. Case analysis data reveals that the fit between events and partnerships; the people, teams, and relationships; and collaboration of resources all contribute to generating competitive advantage and value. We discuss the managerial implications for those collaborating to organise a cause‐related event.

Copyright © 2016 John Wiley & Sons, Ltd.     

Increased word‐of‐mouth via strategic cause‐related marketing

• This research examines word‐of‐mouth (WOM) promotions as an additional consequence of a successful cause‐related marketing (CRM) partnership. Firms properly aligned in CRM partnerships should increase positive feelings that can translate into positive WOM from the public. WOM efforts should be considered in marketing campaigns to develop successful long‐term CRM strategies. Additionally, carefully planned CRM campaigns with positive WOM give firms a competitive advantage without the backlash of consumer skepticism often reported when firms attempt to manipulate WOM campaigns. This study is grounded in associative learning theory which provides support for the strengthened associative links between firm and charity when the relationship is properly aligned. This empirical study suggests that strategically aligned CRM relationships can improve positive WOM recommendations. Results of ANOVA and factor analysis indicate that consumers are more receptive to CRM partnerships that consist of compatibility between firm and charity that persist over time. Results suggest that consumers are more likely to recommend the more properly aligned partnerships to others.

Copyright © 2010 John Wiley & Sons, Ltd.     

How and why small to medium size enterprises (SMEs) engage with their communities: an Australian study

• While many studies address corporate philanthropy and corporate community involvement, limited work has been conducted internationally in small to medium businesses and even less has been elucidated about the Australian small business landscape.
• This article reports findings from qualitative research investigating giving to community causes by 52 small to medium size enterprises (SMEs) across Australia.
• Three key questions addressed in this article are: (1) why SMEs engage with community (2) how they engage with community and (3) obstacles they perceive in giving.
• Our findings suggest that SMEs have a preference to avoid cash gifts, prefer to support local causes and would benefit from the development of best practice giving guidelines and templates.

Copyright © 2006 John Wiley & Sons, Ltd.     

Soaring corporate debt is a risk to global growth

• ▀ Corporate borrowing is accelerating as a result of the coronavirus crisis. In part, this is a healthy development as firms look to ride out a period of low or even zero sales. But it also brings potential risks to growth, especially in the longer term, including via lengthy balance sheet restructuring that hurts investment and productivity growth.
• ▀ In the advanced economies, we estimate the aggregate corporate debt/GDP ratio could rise as much as 10ppts in 2020, to 95% of GDP - well above the 2009 peak. Debt service ratios may also rise into risky territory despite low interest rates. Risks look especially elevated in France and Canada.
• ▀ Evidence for both advanced and emerging economies suggests high corporate debt levels can damage growth. Highly indebted firms tend to invest less in both the near and medium terms, and some estimates suggest the rise in aggregate debt this year could cut GDP growth by up to 0.2% per year.
• ▀ The coronavirus crisis may also crystallise some pre-existing risks in corporate debt. Despite government assistance, defaults by low-rated firms have started to rise and commercial real estate prices are falling.
• ▀ Sectoral concentrations of risk may also be intensified and new ones created in industries hit hard by the virus like energy and consumer discretionary sectors.
• ▀ Emerging market corporate debt is also on the rise - sharply in some cases. In some economies, this mostly reflects exchange rate effects. But negative balance sheet effects of this kind are also a risk to growth.

     

The effects of donation button design on aid agency transactional trust

• The effects of web page donation link (donation button) design on aid agency transactional trust was examined in a survey and in two experiments. Experiment 1 compared three donation button designs, which were developed on the basis of study 1, which was a survey of 559 charity websites, and found no significant effects on rated transactional trust. Experiment 2 attempted to manipulate transactional uncertainty through donation button design by incorporating crisis/need and aid agency response photographs. These button design manipulations significantly increased rated transactional trust. In both experiments, transactional trust ratings were significantly correlated with donation compliance ratings. These results suggest that transactional trust can be enhanced through the considered design of the donation button, and increasing transactional trust in this manner may result in more online donations.

Copyright © 2011 John Wiley & Sons, Ltd.     

Coronavirus fallout threatens financial stability

• ▪ The coronavirus is set to sharply cut global growth and also risks sparking substantial levels of financial distress among both businesses and households, potentially cascading into the banking sector. The challenges this poses for policymakers is formidable.
• ▪ Financial vulnerabilities were evident in the corporate sector in many economies even before the virus struck, with rising debt, declining credit quality and worsening liquidity positions. Consumer-facing sectors especially at risk from the impact of the virus tend to have weaker financial positions.
• ▪ There are also household fragilities. A large fraction of households - often 40%–50% - have limited liquid assets to tide them over if they cannot work. Access to sickness and unemployment benefits varies widely across economies.
• ▪ High levels of bad loans in some banking systems, most notably in Italy, could be exacerbated by the virus impact, threatening financial stability. High dollar debts in many economies outside the US are another risk factor.
• ▪ As well as containing the virus, policymakers need to consider imaginative approaches to prevent financial distress worsening the economic downturn, potentially including a need to rapidly backstop banks, firms, and households.

     

从公司制到有限合伙制的公司治理研究

不同的风险投资组织形式,具有不同的投资效率。基于对公司制和有限合伙制这两种组织结构的运作机制进行简要分析,并根据收益期望值模型,从公司治理的角度,运用比较分析方法,论述了创业投资的组织形式,认为有限合伙制是较好的组织形式。     

‘Why Partnership Working Doesn't Work’

Abstract

English public services in general (and health and social care in particular) have become increasingly dominated by the notion of partnership working. Despite this, more recent years have seen something of a reaction against partnerships. This article reviews lessons learned from a case study of a forensic mental health partnership, arguing that the service in question reveals a number of common pitfalls in terms of the way that partnerships are established and put into practice. In many ways, this was not the fault of the case study partnership, but the product of the wider institutional context in which health and social care partnerships have been developed and promoted. Ultimately, the article suggests some additions to the partnership theoretical literature, before concluding that the current concept of partnership working may lose credibility without additional work to clarify its meaning and contribution.     

Standardization or localization? Executing corporate philanthropy in international firms

• Corporate social responsibility (CSR) has become a key component of a firm's reputation. The reputational vulnerabilities and pressure for CSR are perhaps greatest among international firms with business activities across many countries and cultures. Although the strategies of firms entering new markets have been well researched, the CSR component of the market entry decision has been largely ignored, despite its significant relationship with the financial performance of the firm. Further, previous research has largely considered CSR from an environmental performance point of view, and thus has focused on a minimum level of investment in CSR as opposed to the optimal form of the investment. Our paper seeks to address this gap by examining market entry decisions as they relate to corporate philanthropy.

Copyright © 2009 John Wiley & Sons, Ltd.     

Corporate giving in the Netherlands 1995-2003: exploring the amounts involved and the motivations for donating

• Corporate giving as an expression of corporate social responsibility (CSR) has been researched less than the more general theme of CSR. In addition, much of the research in this area focuses on countries with an Anglo cultural tradition.
• The study outlined in this paper offers a comprehensive longitudinal study of corporate giving in the Netherlands. An overview is provided of corporate giving in the Netherlands in the period from 1995 till 2003.
• The data are gathered by means of a biennial survey of Dutch companies as part of the ‘Giving in the Netherlands’ project. Based on these findings, recent developments in corporate giving can be sketched out.
• Moreover, literature on motives for corporate giving behavior is focused upon and applied in exploring Dutch managers' motivations for offering donations. Nonprofit organizations could use this knowledge to increase the efficiency of their fund raising.

Copyright © 2006 John Wiley & Sons, Ltd.     

How warm is the corporate response to climate change? Evidence from Pakistan and the UK

In response to growing consensus among scientists and governments to act fast to avoid dangerous impacts of climate change, many industries have started to prepare for a carbon‐constrained world. However, this response is far from being uniform. Often action is predicated on economic, technological, organizational and institutional drivers and barriers, which vary between countries and across industrial sectors. In order to understand the effectiveness of industry response, it is therefore important to analyse corporate response across different sectors in different countries. Focusing on the nine most energy‐intensive and greenhouse gas (GHG) emitting industrial sectors, this paper compares corporate responses to climate change in Pakistan and the UK. By analysing the divergence of strategies adopted by industries across different sectors in two countries, the paper examines the key factors influencing corporate adoption and implementation of GHG reduction and energy‐efficiency strategies in Pakistan and the UK. Copyright © 2007 John Wiley & Sons, Ltd and ERP Environment.     

Corporate environmental reporting: Are French firms compliant with the Task Force on Climate Financial Disclosures' recommendations?

This article deals with the practices of French corporate environmental disclosure with a focus on climate-related risks. In particular, it aims to analyse the compliance of CAC 40 firms with the recommendations of the Task Force on Climate-related Financial Disclosures (2017), an international initiative made up by Financial Stability Board to enhance financial transparency. On the basis of a content analysis of firms' reference documents spanning 2015–2018, we constructed the Climate Compliance Index (CCI) to evaluate whether firms disclose information on climate risks and opportunities about governance, strategy, risk management and metrics. Our results highlight a gradual increase of the CCI despite disparities across sectors and management areas. The content analysis allows us to develop a set of indicators frequently reported by domain and to identify and define climate risks and opportunities and their financial impacts per sector, which is a first step to improve the disclosure of non-financial information.     

Venture capitalists and entrepreneurs become venture philanthropists

• Non‐traditional charitable sources of revenue may be categorised as follows:
  • Venture philanthropy: Human resources and funding invested as donation in the charity by entrepreneurs, venture capitalists, trusts and corporations in search of a social return on their investment. It involves high engagement over many years with fixed milestones and tangible returns and exit achieved by developing alternative, sustainable income.
  • Commercial ventures: They seek a financial return on investment by creating a social enterprise operated by charities and their trading/holding companies alone or in partnership with the corporate sector, venture capitalists or investors to provide funding. Venture philanthropists may also ‘invest’ without establishing an equity position in the commercial enterprise. Any profits are re‐directed to mission‐related activity, although the business activity may or may not be mission related.
  • Social venture capital: It funds commercial ventures (as above) but may not seek a complete return on investment; instead the investor may off set some or all of the investment against social outcomes.
• Within the context of venture philanthropy, this paper demonstrates how charities, venture capitalists and entrepreneurs may work together in strategic alliances. It explores venture philanthropy from the perspective of venture capitalists and entrepreneurs, giving examples. Charities are shown how to prepare themselves to take advantage of these entrepreneurial opportunities.
• Although the emphasis in this paper is on venture philanthropy, the processes outlined may be used to help a charity take advantage of opportunities within the broader social entrepreneurial context. Successful venture capitalists and entrepreneurs have demonstrated the ability to turn outline business ideas into big results, frequently in highly competitive business environments.
• A common characteristic that appears to unite these individuals when they divert their interest toward social ventures is a desire to apply their business‐like approach, which includes planning processes, milestones and outcome measurement to their social venture activity.

Copyright © 2005 John Wiley & Sons, Ltd.     

Partnership structures and agendas and managers' assessments of stakeholder outcomes

The theory of workplace partnership suggests that partnership structures combining strategic and operational arrangements and addressing substantively significant agendas of broad scope should lead to positive outcomes for the main stakeholder groups: employers, employees and unions. Data from a survey of managers involved in all known partnerships in unionised companies in the Republic of Ireland in 2000 are used to distinguish ‘integrated business partnerships’, where such structures and agendas prevail, and ‘exploratory partnerships’ characterised by operational or strategic structures only and relatively sparse or narrow agendas. Managers involved in integrated business partnerships are shown to assess more positively a range of current and expected outcomes of significance for each stakeholder group. However, managers' assessments and expectations also point towards a bias in favour of employer interests in the outcomes of integrated business partnerships. The theoretical and policy implications of the results are considered.     

Valuation effects of rollout publicly traded partnerships in the oil and gas industry

In trying to explain the often painful process of corporate restructuring, fingers are frequently pointed at inefficient management. This gives short shrift, however, to an important result of breaking up large, integrated corporations and selling them in smaller pieces: it makes the capital market more nearly complete, and there are strong theoretical arguments that this enhances value. We report the results of a natural experiment that occurred in the oil and gas industry, in which eleven integrated corporations formed publicly traded partnerships to hold their domestic production properties, yet (with few exceptions) retained most of the partnership units under corporate ownership. This behavior avoids any significant change in corporate governance, and is inconsistent with the tax motive popularly attributed as the reason for forming these partnerships; yet we find that significant positive abnormal returns accrued to stockholders when the formations were announced. The results we observe, therefore, support the theory that additional value can be realized by expanding the set of opportunities available to the investment community.     

Brexit fears mask underlying pressures on investment

• ? Brexit uncertainty is seen as a likely culprit behind weakness in UK business investment. But structural shifts in the economy alongside issues relating to how investment is measured suggest that even without the uncertainty factor, a significant revival in measured investment spending may not materialise.
• ? Movements in relative prices continue to favour expansion by relatively labour‐intensive rather than capital‐intensive sectors. Relatedly, a shift towards investment‐light services activity is persisting, while recent changes in the make‐up of employment are reducing the extent of likely automation.
• ? Moreover, the ongoing pace of technological change and corresponding fears of rapid obsolescence could deter investment. And an increasingly fuzzy division between investment and consumer spending suggests that official data may be increasingly understating investment's true level.