The relationship between corporate social responsibility and corporate financial performance has long been a central and contentious debate in the literature. However, prior empirical studies provide indefinite conclusions. The purpose of this study is to review systematically and quantify the CSR–CFP link in a meta-analytic framework. Based on 119 effect sizes from 42 studies, this study estimates that the overall effect size of the CSR–CFP relationship is positive and significant, thus endorsing the argument that CSR does enhance financial performance. Furthermore, (...) this work sheds light on the causal relationship between CSR and CFP. Subsequent financial performance is associated with prior social responsibility, while the reverse direction is not supported. This finding supports the instrumental stakeholder theory. As predicted, the meta-analysis results indicate that the measurement strategies of the two key constructs of CSR and CFP explain some variations of the CSR–CFP relationship. Last, this study examines the moderating effect of the environmental context on the CSR–CFP link. This work proposes that CSR in the developed world, with a relatively mature institutional system and efficient market mechanism, will be more visible than CSR in the developing world. The results show that the CSR–CFP relationship is stronger for firms from advanced economies than for firms from developing economies. (shrink)
Objectives The objectives of the study are to understand the current practice of informed consent in medical research in public hospitals in Shanghai, and to share our views with other countries, especially developing countries. Methods In the study, 145 consent forms (CFs) of the selected research projects in eight public hospitals with ethics committees in Shanghai were audited, and the principle investigators (PIs) of these research projects and 40 student subjects who had participated in clinical drug tests were surveyed by (...) questionnaires. Results The CFs of medical researches in public hospitals with ethics committees in Shanghai were generally acceptable. However, there were some defects in the CFs. Although most of the surveyed PIs had correct recognition of informed consent, some processes of informed consent were not in accordance with generally accepted requirements. A large number of the PIs considered the greatest difficulty with informal consent was lack of correct recognition of subjects or legally authorised representatives on medical research. Discussion Informed consent in medical research should consider the research ethics, the background of potential subjects, the local resources and culture of medical research. In addition, special protection is needed for student subjects in informed consent as well as efforts for building and restoring the public's trust in biomedical research. Conclusion The informed consent in Shanghai's public hospitals with ethics committees was generally acceptable and the achievement of adequate informed consent is influenced by many factors. (shrink)
Using agency theory, this study empirically examined the relationship between board composition and corporate philanthropy. Generally, the ratio of insiders to outsiders, the percentage of insider stock ownership, and the proportion of female and minority board members were found to be positively and significantly associated with firms'' charitable contributions.
While it is widely assumed that greater diversity in corporate governance will enhance a firms corporate social performance, this study considers an alternative thesis which relates managerial control to corporate philanthropy. The study empirically evaluates both board diversity and managerial control of the board as possible predictors of corporate philanthropy. The demonstration of a positive relationship between managerial control and corporate philanthropy contributes to our understanding that corporate social performance results from a complex set of economic and social motives. Possible (...) future research and managerial implications are discussed. (shrink)
Based on a survey of 2,361 directors in 291 of the largest companies of the Southeast States, this study empirically examined boards of directors' stakeholder orientations. The results indicate that there exist distinct stakeholder groups perceived by directors, directors have high stakeholder orientations, directors view some stakeholders differently depending on their occupation and type.
Di er ci Qimeng (The second Enlightenment), by Wang Zhihe and Fan Meijun, is a timely book in Chinese about constructing a philosophical and practical way to contend with China's postmodernization. It combines Whitehead's process philosophy with a focus on Chinese modernity in order to map out a desirable postmodern society. It addresses the problem on several dimensions from policy making to basic value systems. The range of themes can be seen from the topics of the book's twelve chapters: (...) (1) Reverence for Land—Toward a Constructive Postmodern Agriculture; (2) Becoming Fully Human—Toward a Postmodern Organic Education; (3) Survival of the Harmonious-Toward a Constructive Postmodern Harmonious Culture; (4) Beauty .. (shrink)
A fundamental way in which human thought has developed has been constantly to explain the earliest "classics" that are the source of that thought. All in all, the number of such classics is not very high, their explanations are past counting. Moreover, they are constantly increasing, giving rise to an explanatory chain deriving from the classics. In the development of Chinese philosophy, this aspect is particularly noticeable, so that one can describe Chinese philosophy as a continual explanation of the classics. (...) This holds for both Confucianism and Daoism. The main classics of Daoism are the Laozi and the Zhuangzi. These two works have been constantly reread and reinterpreted throughout history. From the late nineteenth century onward, Chinese philosophy came into closer contact with Western philosophy. Foreign concepts were brought in to provide philosophers with new "insight." Some thinkers applied this new insight or these foreign concepts to the Daoist classics. In this way, they brought a new explanation of the Daoist classics and enriched the ways of interpreting the texts.1 Paving the way in this direction were Yan Fu. Zhang Taiyan, Liang Qichao, Wang Guowei, and Hu Shi. (shrink)
Scholars have generally agreed that correlative thinking represents a defining feature of traditional Chinese thought, and their discussions on this enduring mode of thinking have led to a better understanding of the Chinese intellectual and cultural tradition. Although scholars have seldom looked into the causes of the formation of early Chinese correlative thought, some of their discussions have provided inspiration for further investigation.A number of scholars have indicated that the concept of resonance was a fundamental factor in Chinese correlative thinking. (...) For example, both Hellmut Wilhelm and Joseph Needham asserted that, in correlative thinking, order, pattern, and symbolic correlation or.. (shrink)