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.     

Feelings that Make a Difference: How Guilt and Pride Convince Consumers of the Effectiveness of Sustainable Consumption Choices

A significant body of research concludes that stable beliefs of perceived consumer effectiveness lead to sustainable consumption choices. Consumers who believe that their decisions can significantly affect environmental and social issues are more likely to behave sustainably. Little is known, however, about how perceived consumer effectiveness can be increased. We find that feelings of guilt and pride, activated by a single consumption episode, can regulate sustainable consumption by affecting consumers’ general perception of effectiveness. This paper demonstrates the impact that guilt and pride have on perceived consumer effectiveness and shows how this effect rests on the ability of these emotions to influence perceptions of agency. After experiencing guilt or pride, consumers see themselves as the cause of relevant sustainability outcomes. The process of causal attribution associated with these emotions influences consumers’ use of neutralization techniques. Through the reduction in consumers’ ability to neutralize their sense of personal responsibility, guilt and pride positively influence perceived consumer effectiveness. The inability to rationalize-away their personal responsibility, persuades consumers that they affect sustainability outcomes through their decisions. The research advances our understanding of sustainable consumption and identifies a new avenue for the regulation of individual consumer behavior that has significant implications for the development of sustainable marketing initiatives.     

Relations between organizational commitment and focal and discretionary behaviours

The purpose of this paper is to analyse the relations between organizational commitment (OC) dimensions and two focal and discretionary behaviours (intention to stay and organizational citizenship behaviour). Drawing on a sample of 310 Spanish employees of small services firms, this research reveals that in contrast to recent findings that detected a nonlinear (inverted U-shaped) relationship between continuance commitment and intention to stay, the form of the relationships between OC dimensions and the proposed outcomes is linear rather than nonlinear. Furthermore, when dividing continuance commitment into two subcomponents, the research results indicate that the dimension associated with commitment based on few existing employment alternatives is significantly, negatively and linearly related to intention to stay and organizational citizenship behaviour. This suggests that the three-component model of OC suffers from a conceptual inconsistency, which is further discussed.     

The foreign exchange constraint,suppression of the trade deficit and the shadow price of foreign exchange in a fix-price economy

The foreign exchange gap is analysed as a possible feature of a fix-price economy. The implications of closing the gap by means of import rationing are then discussed. Finally, a set of shadow rates of exchange is derived. These shadow prices are conditional on the prevailing regimes, and include the paradoxical possibility of a negative shadow rate of exchange.     

Gold options,an attractive investment instrument for the non-U.S. investor — the case of the Belgian and Dutch investor

Summary Gold has always been an investment instrument whose popularity is closely linked to economic and political instability. Since gold transactions occur in U.S. dollars any investor with a non-U.S. dollar base currency will therefore assume exchange risk exposure. Empirical evidence is given that the gold price has historically varied inversely with the strength of the U.S. dollar. The investor whose base currency is not the dollar, i.e. the Belgian franc or Dutch guilder, incurs less risk when investing in gold than his dollar counterpart.