The Failure of a Socially Responsive Gold Mining MNC in El Salvador: Ramifications of NGO Mistrust [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 88 (2):245 - 268 (2009)
In July 2008, Pacific Rim Mining, a socially responsive Canadian gold mining Multinational Corporation (MNC) with $77 million invested in El Salvador, experienced a 30% decline in stock price when it suspended exploration drilling for gold there. In April 2009, the company filed a lawsuit against the government of El Salvador through Central American Free Trade Agreement to recover its investments plus damages. This corporate failure is explored based on: (1) four globalization economic development models, (2) the social, political, and economic history of El Salvador, (3) the El Salvador gold mining industry, and (4) social movement reactions to international mining companies. MNCs must carefully engage "Social Justice" Nongovernment Organizations when pursuing economic development projects to ensure a nation's successful integration into the global economy
|Keywords||El Salvador environment multinational corporations Nongovernment Organizations mining|
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References found in this work BETA
Jamie R. Hendry (2006). Taking Aim at Business What Factors Lead Environmental Non-Governmental Organizations to Target Particular Firms? Business and Society 45 (1):47-86.
John Rawls (1971/2005). A Theory of Justice. Harvard University Press.
Ananya Mukherjee Reed & Darryl Reed (2009). Partnerships for Development: Four Models of Business Involvement. [REVIEW] Journal of Business Ethics 90 (1):3 - 37.
Donald H. Schepers (2006). The Impact of NGO Network Conflict on the Corporate Social Responsibility Strategies of Multinational Corporations. Business and Society 45 (3):282-299.
Citations of this work BETA
Edmund F. Byrne (2012). Appropriating Resources: Land Claims, Law, and Illicit Business. [REVIEW] Journal of Business Ethics 106 (4):453-466.
Salla Laasonen, Martin Fougère & Arno Kourula (2012). Dominant Articulations in Academic Business and Society Discourse on NGO–Business Relations: A Critical Assessment. [REVIEW] Journal of Business Ethics 109 (4):521-545.
Edmund F. Byrne (forthcoming). In Lieu of a Sovereignty Shield, Multinational Corporations Should Be Responsible for the Harm They Cause. Journal of Business Ethics.
Michael L. Dougherty & Tricia D. Olsen (2014). Taking Terrain Literally: Grounding Local Adaptation to Corporate Social Responsibility in the Extractive Industries. Journal of Business Ethics 119 (3):423-434.
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