Finance as a driver of corporate social responsibility

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)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 11,449
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Citations of this work BETA

View all 15 citations

Similar books and articles
Aloy Soppe (2004). Sustainable Corporate Finance. Journal of Business Ethics 53 (1-2):213-224.
Jacob Park (2005). Beyond Good Intentions. International Corporate Responsibility Series 2:101-108.
Analytics

Monthly downloads

Added to index

2009-01-28

Total downloads

28 ( #63,833 of 1,103,233 )

Recent downloads (6 months)

5 ( #62,335 of 1,103,233 )

How can I increase my downloads?

My notes
Sign in to use this feature


Discussion
Start a new thread
Order:
There  are no threads in this forum
Nothing in this forum yet.