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1.
At the heart of the social accounting project lies a radical and emancipatory intent. Yet social accounting practice, in the form of corporate self reporting, has systematically failed to open up organisations to substantive critique. Rather than rendering transparent the contradictions within capitalism, corporate social accounting primarily obfuscates these. Through corporate social accounting business expresses Moral and Intellectual Leadership, further entrenching its hegemony. This paper offers a theoretical explanation for why this is the case, drawing upon the work of Antonio Gramsci. Corporate social accounting serves a regressive role because it is closely tied to the economic base of society. An emancipatory social accounting would operate relatively autonomously from the economic base and actively expose the contradictions of the current hegemony. Such an accounting could be, indeed is, practiced by civil society. This paper goes further than merely critiquing corporate social accounting and draws attention to some of the different types of social accounting that are practiced by civil society organisations. In drawing attention to these civil society accounts the paper suggests that the social accounting project's emancipatory intent can still be realised although this would require a reassessment of the faith that has hitherto been placed in the corporation as an emancipatory change agent.  相似文献   

2.
舆论监督、政府监管与企业环境信息披露   总被引:3,自引:0,他引:3  
沈洪涛  冯杰 《会计研究》2012,(2):72-78,97
本文基于政治学的合法性理论,并借助新闻学的议程设置概念,在企业与社会的关系背景下研究企业披露环境信息的动机。本文以我国重污染行业上市公司为研究样本,分析舆论监督和政府监管对企业环境信息披露的作用,以及政府监管对舆论监督作用的影响。研究发现:(1)媒体有关企业环境表现的报道能显著促进企业环境信息披露水平;(2)地方政府对企业环境信息披露的监管能显著提高企业的环境信息披露水平并增强舆论监督的作用。本文的研究发现为认识企业环境信息披露的合法性动机、以及舆论监督和政府监管对企业环境信息披露的影响提供了新的视角和证据,同时也为信息披露的非经济性动机研究做出了文献上的贡献。  相似文献   

3.
Caritas in Europe is both the EU's largest voluntary sector network of any kind, and also comprises Europe's biggest religious NGO. This article tracks the Europeanization of its advocacy as part of an European Commission-funded initiative to engage civil society networks in the improvement of national social inclusion strategy designs. Noting the impact of state structure and civil service actions on the form and impact of such faith-based advocacy, the article draws out fresh insights for the UK debate on the role of religious organizations in welfare reform and advocacy, not least the appropriate assessment of ‘the local’, ‘motivating ideas’ and the need for the development of a new and ‘adaptive leadership’ style by public managers.  相似文献   

4.
A Markov model for the term structure of credit risk spreads   总被引:31,自引:0,他引:31  
This article provides a Markov model for the term structureof credit risk spreads. The model is based on Jarrow and Turnbull(1995), with the bankruptcy process following a discrete statespace Markov chain in credit ratings. The parameters of thisprocess are easily estimated using observable data. This modelis useful for pricing and hedging corporate debt with imbeddedoptions, for pricing and hedging OTC derivatives with counterpartyrisk, for pricing and hedging (foreign) government bonds subjectto default risk (e.g., municipal bonds), for pricing and hedgingcredit derivatives, and for risk management.  相似文献   

5.
This paper analyses the interaction between neoliberal inspired reforms of public services and the mechanisms for achieving public accountability. Where once accountability was exercised through the ballot box, now in the neoliberal age managerial and market based forms of accountability predominate. The analysis identifies resistance from civil society campaigns to the neoliberal restructuring of public services which leads to public accountability (PA) becoming a contested arena. To develop this analysis a re-theorisation of PA, as a relationship where civil society seeks to control the state, is explored in the context of social housing in England over the past thirty years. Central to this analysis is a dialogical analysis of key documents from a social housing regulator and civil society campaign. The analysis shows that the current PA practices are an outcome of both reforms from the government and resistance from civil society (in the shape of tenants’ campaigns). The outcome of which is to tell the story of the changes in PA (and accountability) centring on an analysis of discourse. Thus, the paper moves towards answering the question – what has happened to PA during the neoliberal age?  相似文献   

6.
Zadek S 《Harvard business review》2004,82(12):125-32, 150
Nike's tagline,"Just do it," is an inspirational call to action for the millions who wear the company's athletic gear. But in terms of corporate responsibility, Nike didn't always follow its own advice. In the 1990s, protesters railed against sweatshop conditions at some of its overseas suppliers and made Nike the global poster child for corporate ethical fecklessness. The intense pressure that activists exerted on the athletic apparel giant forced it to take a long, hard look at corporate responsibility--sooner than it might have otherwise. In this article, Simon Zadek, CEO of the UK-based institute AccountAbility, describes the bumpy route Nike has traveled to get to a better ethical place, one that cultivates and champions responsible business practices. Organizations learn in unique ways, Zadek contends, but they inevitably pass through five stages of corporate responsibility, from defensive ("It's not our fault") to compliance ("We'll do only what we have to") to managerial ("It's the business") to strategic ("It gives us a competitive edge") and, finally, to civil ("We need to make sure everybody does it"). He details Nike's arduous trek through these stages-from the company's initial defensive stance, when accusations about working conditions arose, all the way to its engagement today in the international debate about business's role in society and in public policy. As he outlines this evolution, Zadek offers valuable insights to executives grappling with the challenge of managing responsible business practices. Beyond just getting their own houses in order, the author argues, companies need to stay abreast of the public's evolving ideas about corporate roles and responsibilities. Organizations that do both will engage in what he calls"civil learning".  相似文献   

7.
Ichizo Yamauchi 《Futures》1983,15(5):328-341
Until the early 1970s Japanese industry did not employ strategic corporate planning. Rather, a working textbook setting out national industrialization goals provided the basis for government and industrial policy, and its influence persists. Through a historical analysis this article traces the development in the past decade of long-range strategic planning in Japanese R and D, and identifies the distinction between ‘leader’ countries (such as the USA) and ‘follower’ countries (like Japan) as being more vital to understanding Japanese industrial policy/structure and corporate strategy, than cultural factors.  相似文献   

8.

The market for corporate control offers a rich framework to study the interaction between investment and financing decisions. Do corporations have specific preferences for the means of financing acquisitions, such using cash or equity to pay the claims of the target firm’s shareholders? This study builds a unique sample of 1041 corporate acquisitions over the period 2000–2018 in India, a major emerging economy with fast-growing capital markets. The study investigates separately corporate preferences for the means of payment and the financing sources for acquisitions, using multinomial logit and nested logit models. First, we find that different factors explain the payment and financing decisions. Second, the cash payment decision is best explained by the target’s relative size, greater tender offers, cross-border deals, and cash reserves. Third, the findings are most aligned with pecking order theory and cost of capital considerations.

  相似文献   

9.
We blend the corporate governance and the financial structure/legal system literature streams to study whether firm performance is enhanced when its governance structure embodies the demands of the host country’s financial structure and legal system. Using a sample of 1736 unique firms representing 22 countries, we find that the joint effect of a country’s financial structure and legal system does matter when explaining the relationship between performance and the overall level of corporate governance in a given country. The results also suggest that firms operating in the market/common combination countries tend to command higher market valuations than firms with a comparable level of corporate governance that operate in the bank/civil combination countries.  相似文献   

10.
Corporate credit risk can be reduced through implicit government guarantees. State-owned enterprises (SOEs) in China provide a distinctive setting to investigate government roles in corporate debt financing. We find that non-SOEs’ corporate bond issuance costs are significantly higher than those of SOEs. We also observe relatively lower bond issuance costs for firms controlled by the central government (CSOEs) than those controlled by local governments (LSOEs). In addition, we demonstrate that compared with SOEs, non-SOEs’ financial constraints are mitigated to a larger extent after the bond issuances. Overall, we show that state ownership plays an important role in determining corporate bond issuance costs.  相似文献   

11.
Poverty in rural areas of Mexico is still an unresolved problem. Experiences of civil society organizations in other countries show that they can be allies of the government to contribute to rural development because of their roles and capabilities. This article focuses on the role of civil society organizations to improve living conditions in rural areas of the State of Mexico by analyzing the work of six civil society organizations under a qualitative perspective. Leadership and commitment are some of the most important capabilities of their female founders. They have created and implemented management strategies that allow them to obtain and generate resources to satisfy local needs. Thus, their management strategies are seen as a methodological model and a key to work in a close partnership whit rural communities which can be seen as an added-value to civil society organizations and community participation for rural development.  相似文献   

12.
我国上市公司盈余管理问题研究   总被引:2,自引:0,他引:2  
盈余管理问题是理论界研究的一个热门话题,本文主要从上市公司盈余管理的原因分析入手,指出上市公司盈余管理的常用手段和识别办法,并提出包括完善法人治理结构、建立民事赔偿制度、解决国有股和法人股全流通问题、政府和企业转变理念以及进行全社会的道德教育和诚信教育等对策,以便有效治理盈余管理现象.  相似文献   

13.
This article argues that thirty years ago favourable cost conditions helped build productive power in Asia, whereas now US financial power drives and benefits from low labour costs in China, using the very different supply chain positions of Apple Inc. and Foxconn International Holdings (FIH) as examples. In the first section, the authors bring together the literatures on financialization and global supply chains to contextualise the pressures and outcomes discussed. A temporal dimension is added in section 2, using macro evidence on labour costs to compare new entrants into the industrial world order since the 1970s. The article then presents company illustrations in sections 3 and 4, deconstructing Apple's financial success and its trans-Pacific relations with its handset supplier FIH. The article concludes by observing that the rise of the post-national corporate player changes the alignment between large corporate interests and the US economy where Apple hoards its cash surplus and the success for the stockholders does not align with the broader needs of the US economy and society.  相似文献   

14.
The ongoing global financial crisis has led to the largest increase in state intervention since the Great Depression. Direct government ownership in publicly-traded corporations has increased dramatically since 2008. How will this increase in public ownership affect the governance of these erstwhile private companies? We examine the impact of government ownership on corporate governance using a sample of firms from the European Union, a region that is relatively familiar with active government participation. Our main finding is that government ownership is associated with lower governance quality. We further show that while government intervention is negatively related to governance quality in civil law countries, it is positively related to governance quality in common law countries. Finally, we find that the preferential voting rights of golden shares are especially damaging to governance quality.  相似文献   

15.
Pim Martens  Axel Dreher 《Futures》2010,42(6):574-582
Human dynamics, institutional change, political relations and the global environment have become increasingly intertwined. The development of multicultural societies has certainly not been without its problems. The re-emergence of extremist political parties, the segregation of cultures and ethnic conflict, illustrate the problematic side of socio-cultural integration at the local level. We argue that socio-cultural factors not only change as a result of globalisation, but also can be causes, as well as challenges to the process of globalisation itself. We describe how the recent introduction of the MGI and KOF globalisation indices can be used to empirically address to what extent globalisation affects social phenomena. Overall, while the rigidity of national boarders slackens, to speak about a global community is misleading. National borders still exist and the nation-state still matters. The fact is that they have to co-exist with civil society. The institutions of global civil society place limits upon the government and function as a sort of check on various forms of government, especially the authoritarian and absolutist varieties.  相似文献   

16.
The paper takes examples from two decades of toxic risk management in Australia in order to examine the challenges that the conditions of the ‘risk society’ pose for the chemicals industry in this country. These issues for corporate governance are set against a shift in political discourse in the direction of the limiting of the state, co‐governance between state and industry, and new community involvements and responsibilities. The paper describes new social movements and alliances influencing corporate structures and processes for decision making in Australia. The case examples lead to conclusions concerning the fundamental innovations in the organizational design of regulatory bodies and corporations that are required if progress is to be made towards sustainability and the re‐establishment of public trust. The findings of this paper are symptomatic of the more general challenges that the ‘risk society’ poses for the mainstream political programmes and their frameworks for regulation, for corporate architecture and for the relationships between governments, corporations and the community.  相似文献   

17.
We explore the relation between government integrity and firms’ investment efficiency in the context of China’s deepening reforms and its strengthening the social credit system. We find that government integrity is positively associated with the investment efficiency of listed companies in China. Government integrity is negatively related to corporate underinvestment, but insignificantly related to corporate overinvestment. Higher government integrity reduces underinvestment in non-state-owned firms, but this relation is not significant in state-owned firms. Furthermore, we find that the negative relation between government integrity and underinvestment is only significant for firms in industries that receive supportive government policies. This study enriches research on corporate investment by adopting the perspective of government integrity, and supplements the literature on government integrity and its economic consequences. Our study also provides micro-level empirical evidence that strengthening government integrity will promote the economic transformation of China.  相似文献   

18.
As a city–county consolidation with Chinese characteristics, China’s county-to-district (CtD) reform transfers a county’s autonomy to a city, thereby strengthening the administrative, decision-making, fiscal and other powers of the prefecture-level municipal government, which effectively enables the centralization of local governments. Based on this exogenous quasi-natural experiment, we use a difference-in-differences (DID) approach to empirically examine the impact of prefecture-level municipal government centralization on companies’ ESG performance. The results show that municipal government centralization can significantly promote corporate ESG performance, which represents environmental protection, social responsibility and corporate governance behavior. The mechanism analysis also shows that the CtD reform can address market segmentation, alleviate policy uncertainty and reduce rent-seeking, which further improves ESG performance.  相似文献   

19.
随着全球经济的企稳回暖和政府"走出去引进来"战略的实施,我国企业跨国并购交易稳步增长。但在并购过程中,风险无处不在。企业应如何转移、规避并购交易风险?学术界往往从企业和政府角度探讨解决方案,忽视了保险的重要作用。本文在分析我国企业跨国并购趋势及风险的基础上,从经济学视角剖析了并购保证及补偿保险的产生机理,对其主要术语进行了释义,并展望了其在我国的应用前景。并购保证及补偿保险将成为我国企业跨国并购的"稳定器"和"助推器"。  相似文献   

20.
This article studies the current state and drivers of government local currency bond market (LCBM) development in Sub-Saharan Africa. We first show that, increasingly, African governments issue fixed-rate local currency bonds with tenors of ten years and more on a regular basis. However, African LCBMs are also often marked by illiquidity, very few corporate securities, and narrow, bank-dominated investor bases. Second, we present an econometric analysis of the drivers of African government LCBMs based on a new high-quality, OECD-compiled panel dataset. LCBM capitalization is found to be correlated negatively with governments’ fiscal balance and inflation, and positively with common law legal origins, institutional quality and democracy.  相似文献   

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