Journal of Business Ethics 68 (1):19 - 33 (2006)
|Abstract||Finance is grease to the economy. Therefore, we assume that it may affect corporate social responsibility (CSR) and the sustainability of economic development too. This paper discusses the transmission mechanisms between finance and sustainability. We find that there is no simple one-to-one relationship between financial development and sustainable development but there are various – often indirect – linkages. It appears that most of the literature concentrates on the role of public shareholders when it comes to changing corporate policy and performance in a more sustainable direction. However, this focus neglects the potential impact of the credit channel and private equity on a firm’s non-financial policies and performance. These very powerful mechanisms can govern business policies and practices. Therefore, there appears to be much more scope for finance to promote socially and environmentally desirable activities and to discourage detrimental activities than has been acknowledged in the academic literature so far.|
|Keywords||banks corporate social responsibility development ethics financial markets socially responsible investments sustainable development|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
Marta de La Cuesta-González, María Jesús Muñoz-Torres & María Ángeles Fernández-Izquierdo (2006). Analysis of Social Performance in the Spanish Financial Industry Through Public Data. A Proposal. Journal of Business Ethics 69 (3):289 - 304.
Güler Aras & David Crowther (2009). Corporate Sustainability Reporting: A Study in Disingenuity? [REVIEW] Journal of Business Ethics 87 (1):279 - 288.
Chi-Shiun Lai, Chih-Jen Chiu, Chin-Fang Yang & Da-Chang Pai (2010). The Effects of Corporate Social Responsibility on Brand Performance: The Mediating Effect of Industrial Brand Equity and Corporate Reputation. [REVIEW] Journal of Business Ethics 95 (3):457 - 469.
Klaus-Michael Menz (2010). Corporate Social Responsibility: Is It Rewarded by the Corporate Bond Market? A Critical Note. [REVIEW] Journal of Business Ethics 96 (1):117-134.
Robert W. Kolb (2010). New Directions in Corporate Governance and Finance. Business Ethics Quarterly 20 (4):673-694.
Jacob Park (2005). Beyond Good Intentions. International Corporate Responsibility Series 2:101-108.
Junwei Shi, Haiyan Fu & Lijun Hu (2007). Social Responsibility, Social Capital, and Corporate Competitive Advantage in Transitional China. International Corporate Responsibility Series 3:377-394.
Delvin D. Hawley (1991). Business Ethics and Social Responsibility in Finance Instruction: An Abdication of Responsibility. [REVIEW] Journal of Business Ethics 10 (9):711 - 721.
Aloy Soppe (2004). Sustainable Corporate Finance. Journal of Business Ethics 53 (1-2):213-224.
Benjamin J. Richardson (2005). Corporate Finance and Environmentally Responsible Business. International Corporate Responsibility Series 2:79-100.
Added to index2009-01-28
Total downloads23 ( #60,112 of 722,699 )
Recent downloads (6 months)1 ( #60,006 of 722,699 )
How can I increase my downloads?