Corporate Social Responsibility: Exploring Stakeholder Relationships and Programme Reporting across Leading FTSE Companies

Although it is now widely recognised by business leaders that their companies need to accept a broader responsibility than short-term profits, recent research suggests that as corporate social responsibility (CSR) and social reporting become more widespread, there is little empirical evidence of the range of stakeholders addressed through their CSR programmes and how such programmes are reported. Through a CSR framework which was developed in an exploratory study, we explore the nature of stakeholder relationships reported across leading FTSE companies and the importance they attach to communicating both social and business outcomes. It is evident from the hypotheses tested that the bigger FTSE companies, particularly extraction companies and telecoms, are more adept at identifying and prioritising their stakeholders, and linking CSR programmes to business and social outcomes. However, we draw the general conclusion that building stronger stakeholder relationships through CSR programmes – other than with customers – is not currently a priority for most companies. We also conclude that a limited sophistication in managing multiple stakeholders may compromise the impact of CSR upon business and social results. Finally, the managerial implications and the contribution of our study are discussed before closing with an acknowledgement of the limitations of this work and suggestions for further research.     

What makes a die-hard entrepreneur? Beyond the ‘employee or entrepreneur’ dichotomy

The article makes three contributions to the economics literature on entrepreneurship. We offer a new measure of entrepreneurship which accounts for variations in persistence in self-employment and as a result avoids the weakness of approaches which categorise an individual as an entrepreneur by observing their occupation at just one point in their career. We outline an econometric methodology to account for this approach and find, via a statistical test of model selection, that it is superior to probit/logit models, which have dominated the literature. While our results indicate that this existing literature is good at explaining an individual’s propensity to try self-employment, we find that entrepreneurial persistence is determined by a different model and unearth some new insights. Early self-employment encourages entrepreneurial persistence. For men, inheritance encourages persistence, and facilitates initial self-employment. Having a self-employed father as a role model makes sons persist longer. However, somewhat surprisingly, early experience of unemployment does not affect the probability of self-employment, while reducing persistence. The popular ‘unemployment push effect’ is thus rejected in our sample.

Cultural and Ethical Effects in Budgeting Systems: A Comparison of U.S. and Chinese Managers

This study developed and tested a model of culture’s effect on budgeting systems, and hypothesized that system variables and reactions to them are influenced by culture-specific work-related and ethical values. Most organizational and behavioral views of budgeting fail to acknowledge the ethical components of the problem, and have largely ignored the role of culture in shaping organizational and individual values. Cross-cultural differences in reactions to system design variables, and in the behaviors motivated or mitigated by those variables, has implications for the design and effectiveness of budgeting systems. The data largely support our research model, demonstrating the hypothesized national cultural differences in system design variables (e.g., participation, standards tightness, budget emphasis, etc. which we characterized as the opportunity and incentives to create budgetary slack), and the expected relationship between incentives (but not opportunity) to create slack and slack creation behavior. The data demonstrate hypothesized cultural differences in ethical ideology but show ethical ideology related to slack creation behavior only for U.S. managers. A discussion of the results and their implications is included.     

The Born-Global Phenomenon: A Comparative Case Study Research

This qualitative, case-based research investigates the most relevant traits shown by several new, export-involved born-global firms and their entrepreneurs-managers versus other more traditional and also recently-established exporting SMEs in a specific geographic region inside Spain. More concretely, we aim to shed light on the type of factors and specific conditions underlying the emergence and further expansion of born-global exporters, as compared to other counterparts, which do not share their rapid internationalising character from inception. From our cross-comparison of four firm cases investigated in this setting against a number of factors generally associated with the born-global or gradual internationalisation paths, our results indicate that both constitute two consistent and distinctive patterns of international development. Another relevant finding in this research is that born globals seem indeed to be more entrepreneurial regarding their export entry behaviour into foreign markets than gradual exporters. Relevant academic, managerial, and policy-making implications are also outlined from these results.     

Institutional Barriers to Small- and Medium-Sized Enterprise Operations in Transition Countries

Building on institutional theory and on existing literature regarding barriers to private businesses in transition countries, this paper examines the inter-related effect of nineteen factors grouped into four types of barriers (formal, informal, environmental and skills) on existing small- and medium-sized enterprise operations in Lithuania. Regression analyses on a sample of 332 business owners indicate that perceived formal barriers are associated with perceived informal barriers such as corruption and perceived environmental barriers are associated with perceived skill barriers such as management problems. The transition effect based on business start-up date was not found to play a significant role.     

Global Entrepreneurship Monitor: Data Collection Design and Implementation 1998–2003

The Global Entrepreneurship Monitor research program was designed as a comprehensive assessment of the role of entrepreneurship in national economic growth. The conceptual model reflected in a wide range of factors associated with national variations in entrepreneurial activity and the major contextual features. Empirical tests of the many relationships in the model required four major data collection activities: adult population surveys, unstructured interviews with national experts, self-administered questionnaires completed by national experts, and assembly of relevant standardized measures from existing cross-national data sets. Adult population surveys were implemented to identify those entrepreneurially active, which required a set of precise criteria and careful processing to ensure harmonized counts and prevalence rates across 41 countries. Existing evidence on measures of reliability indicates that the measures met contemporary standards and the project was cost-effective.     

On the Closeness Aspect of Three Voting Rules: Borda – Copeland – Maximin

This paper provides a comparison of three voting rules, the Borda rule, the Copeland rule and the maximin rule. Our analysis based on the rankings derived from those voting rules will shed new light on existing comparisons based on “closeness” between the three voting rules under investigation. In particular it will be shown that both, the rankings derived from the Borda rule and the maximin rule and the rankings derived from the Copeland rule and the maximin rule, will be exactly the opposite for certain preference profiles.     

Können Fiskalräte die europäische Schuldenkrise lösen?

This article analyses the role of independent fiscal institutions (IFIs) in dealing with the debt crisis in Europe. IFIs take the role of a fiscal watchdog by producing their own (or assessing the government’s) budget and macroeconomic forecast and have recently spread across many industrialized countries. Empirical evidence suggests that IFIs can contribute to solid public finances in conjunction with fiscal rules if these institutions are truly independent, have a clear mandate and access to sufficient resources, as well as a strong media impact.     

Using sublexical priming to enhance brand name phonetic symbolism effects in young children

We examine whether phonetic symbolism effects are conditional on the development of phonological awareness (an ability to recognize sounds in words). Further, we introduce sublexical priming as a means to enhance phonetic symbolism effects. Across four experiments, we demonstrate that product evaluations, consistent with phonetic symbolism theory, are more (less) likely when a child is older (younger). Specifically, older children who can recognize sounds in words perceive back vowel brand names (e.g., Vopoz) as slower, heavier, larger, smoother, creamier, chewier, and thicker than brand names with front vowel sounds (e.g., Vipiz). In addition, we show that phonetic symbolism effects manifest when younger children (low in phonological awareness) are primed to focus on parts of a word/s, which we term sublexical priming. We present embedded tasks and chunking of brand names as strategic communication techniques that can be implemented as sublexical primes to enhance phonetic symbolism effects in younger children.     

Corporate Social Responsibility: Its Economic Impact and Link to the Bullwhip Effect

This paper examines the economic impact of implementing Corporate Social Responsibility (CSR) in the supply chain operations of multinational corporations (MNC). Because they have global supply chains in emerging markets, MNCs face certain operational challenges. For example, unethical operations often result in a huge loss to MNCs in the long run, even though their initial cost seems to be low. In this paper, we extend the Bullwhip Effect theory in supply chain management to the ethical operations context, and define and evaluate a special Bullwhip Effect due to Unethical Operations (BEUO). Using economic data from various sources including Ford, Toyota, and GM in the auto industry, we first estimate the indices of BEUO for the three companies and demonstrate the economic necessity for MNCs to incorporate CSR with supply chain operations. We then propose a coherent approach, blending what we term the bottom-up and proactive methods, to achieve such an outcome. The bottom-up approach requires MNCs to switch their focus on stakeholders, shifting from shareholders to consumers and workers, and on decision levels from public relationships to supply chain operations. The proactive approach recommends initializing specific CSR operations to mitigate the negative impact of BEUO. Both theoretical analysis and case studies are conducted to evaluate our developed propositions that MNCs adopting the proposed CSR operations will in the long run achieve better economic performance. Recommended actions for implementation, based on best practices, are also presented.