Doing right,investing right: Socially responsible investing and shareholder activism in the financial sector |
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| Authors: | Chang Hoon Oh Jae-Heum Park Pervez N Ghauri |
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| Institution: | 1. Simon Fraser University, Beedie School of Business, 500 Granville Street, Vancouver, BC V6C 1W6, Canada;2. Samil-PwC LLC, LS Yongsan Tower, 191 Hangangro-2ga, Yongsan-gu, Seoul 140-702, Korea;3. King''s College of London, 150 Stamford Street, London SE1 9NH, UK |
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| Abstract: | In this article, we present an overview of corporate social responsibility (CSR) in the financial sector. We focus on how socially responsible investment and shareholder activism have been integral parts of corporate social responsibility in the financial sector. We examine how the financial sector and its firms are evaluated and rated via a sustainability index, the Dow Jones Sustainability World Index, and show that even leading financial institutions do not employ proactive practices regarding socially responsible investment and shareholder activism. Finally, we provide examples of two companies, UBS AG and the Co-operative Banking Group, that do utilize proactive practices. |
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| Keywords: | Socially responsible investment Shareholder activism Corporate social responsibility CSR Financial industry Dow Jones Sustainability World Index |
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