Skip to main content Accessibility help
×
Hostname: page-component-586b7cd67f-l7hp2 Total loading time: 0 Render date: 2024-12-04T03:51:06.297Z Has data issue: false hasContentIssue false

8 - Shareholders, Institutional Investors and Socially Responsible Investment

from Part III - Stimulating Private Regulation of Corporate Social Responsibility

Published online by Cambridge University Press:  15 June 2023

Onyeka K. Osuji
Affiliation:
University of Essex
Franklin N. Ngwu
Affiliation:
Pan-Atlantic University Lagos Business School, Nigeria
Gary Lynch-Wood
Affiliation:
University of Manchester School of Law
Get access

Summary

The chapter argues that socially responsible investment (SRI) can be linked to long-term financial success and therefore should be part of the corporate social responsibility (CSR) strategy of investors. It shows how capital providers, including ordinary shareholders, institutional investors and socially responsible investors, can provide the stimulus for improvements in CSR standards and performance. The chapter traces the origins of SRI and investigates the range of powers and responsibilities, procedures and opportunities that can be applied to encourage a greater degree of participation of different kinds of investor, particularly institutional investors, in SRI.

Type
Chapter
Information
Corporate Social Responsibility Across the Globe
Innovative Resolution of Regulatory and Governance Challenges
, pp. 177 - 196
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Ballestero, E., Pérez-Gladish, B. and García-Bernabeu, A. (2015). The ethical financial question and the MCDM framework. In Ballestero, E., Pérez-Gladish, B. and García-Bernabeu, A., eds., Socially Responsibility Investment: A Multi-criteria Decision Making Approach. International Series in Operation Research and Management Sciences. Cham: Springer International Publishing Switzerland, pp. 322.CrossRefGoogle Scholar
Bauer, R., Moers, F. and Viehs, M. (2012). The determinants of withdrawn shareholder proposals. Working paper. https://web.archive.org/web/20120317070403id_/http://www.fma.org:80/Atlanta/Papers/Determinants_of_withdrawn_shareholder_proposals_FMA.pdf.Google Scholar
Bjornsgaard. (2011). Religious society of Friends (Quakers). The Encyclopedia of Christian Civilization. Malden, UK: Wiley-Blackwell.Google Scholar
Boto, M. J. (2009). Las competencias de la Comunidad Europea en materia social. Cizur Menor: Thomson-Aranzadi.Google Scholar
Bruyn, S. T. (1987). The Field of Social Investment. New York: Cambridge University Press.CrossRefGoogle Scholar
Cañal-Fernández, V. and Caso, C. (2013). Caracterización de los Inversores Españoles: la Influencia de la Inversión Socialmente Responsable (Spanish Investors’ Characterization: The Influence of Socially Responsible Investment). Revista Española de Financiación y Contabilidad (REFC). http://ssrn.com/abstract=2252932.Google Scholar
Carroll, A. B. (1991). The pyramid of corporate social responsibility: towards the morals management of organizational stakeholders. Business Horizon, 34(4), 3945.Google Scholar
CBI. (2005). Co-operative Financial Services, CBI – CSR Case Study Series, Article 13, May 2005.Google Scholar
Clark, G. and Hebb, T. (2004). Pension fund corporate engagement: the fifth stage of capitalism. Relations Industrielles/Industrial Relations, 59(1), 142–71.CrossRefGoogle Scholar
Clavero, S. B. (1985). Usura: del uso económico de la religión en la historia. Madrid: Tecnos.Google Scholar
Co-operative Banking Group. (2012). Building the Compelling Co-operative Alternative: Financial Statements 2011. Manchester: Co-operative Bank. www.co-operativebank.co.uk/assets/pdf/bank/investorrelations/financialresults/bank-financial-statement-2011.pdf.Google Scholar
Co-operative Banking Group. (2021). Our Values and Ethics in Action: Sustainability Report 2021. Manchester: Co-operative Bank. www.co-operativebank.co.uk/assets/pdf/bank/investorrelations/2021-sustainability-report.pdf.Google Scholar
Deutsche Bank Group. (2012). Deutsche Bank Annual Report 2012. https://annualreport.deutsche-bank.com/2012/ar/servicepages/downloads.html.Google Scholar
Domini, A. L. and Kinder, P. D. (1984). Ethical Investing: How to Make Profitable Investments Without Sacrificing Your Principles. Reading, MA: Addison-Wesley.Google Scholar
Ethical Corporation. (2008). Ethical Leaders of 2008. 1 December. www.ethicalcorp.com/communications-reporting/ethical-leaders-2008.Google Scholar
Eurosif. (2004). Pension Programme SRI Toolkit 2004–2005. Paris: Eurosif.Google Scholar
Eurosif. (2006). European SRI Study 2006. Paris: Eurosif.Google Scholar
Eurosif. (2012). European SRI Study 2012. Paris: Eurosif.Google Scholar
Financial Reporting Council of Nigeria. (2013). Annual Report 2013. www.financialreportingcouncil.gov.ng/board-activities/annual-report–2013/.Google Scholar
Friedman, M. (1970). The social responsibility of business is to enhance its profits. New York Times, 32(13), 122–6. Previously published in M. Friedman (1962) Capitalism and Freedom. Chicago, IL: University of Chicago Press.Google Scholar
Fulton, M., Kahn, B. and Sharples, C. (2012). Sustainable investing: establishing long-term value and performance. Journal of Banking and Finance, 172. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2222740.CrossRefGoogle Scholar
Haigh, M. and Hazelton, J. (2004). Financial markets: a tool for social responsibility? Journal of Business Ethics, 52(1), 5971.Google Scholar
Heard, J. (1978). Investor responsibility: an idea whose time has come? Journal of Portfolio Management, 4(3), 1214.CrossRefGoogle Scholar
Judd, E. (1990). Investing with a Social Conscience. New York: Pharos Books.Google Scholar
Kinder, P. (2005). Socially Responsible Investing: An Evolving Concept in a Changing World. Boston, MA: KLD Research & Analytics.Google Scholar
Kurtz, L. (2008). Socially responsible investment and shareholder activism. In Crane, A., McWilliams, A., Matten, D., Moon, J. and Siegel, D. S., eds., The Oxford Handbook of Corporate Social Responsibility. Oxford: Oxford University Press, pp. 249–80.Google Scholar
Lowry, R. P. (1993). Good Money: A Guide to Profitable Social Investing in the ’90s. New York: W.W. Norton & Company.Google Scholar
Marlin, A. (1986). Social investing: potent force for political change. Business and Society Review, 57, 96100.Google Scholar
Mitchell, R., Agle, B. and Wood, D. J. (1997). Toward a theory of stakeholder identification and salience: defining the principle of who and what really counts. American Management Review, 22(4), 853–86.Google Scholar
Oh, O., Agrawal, M. and Rao, H. R. (2013). Community of intelligence and social media services: a rumor theoretic analysis of tweets during social crises. MIS Quarterly, 37(2), 407–26.CrossRefGoogle Scholar
Oh, C. H., Park, J.-H. and Ghauri, P. N. (2013). Doing right, investing right: socially responsible investing and shareholder activism in the financial sector. Business Horizons, 1074. www.academia.edu/24357978/Doing_right_investing_right_Socially_responsible_investing_and_shareholder_activism_in_the_financial_sector.Google Scholar
Oxford Business Knowledge (OBK). (2007). Recent trends and regulatory implications of socially responsible investment for pension funds. In Organisation for Economic Co-operation and Development (OECD), The OECD Guidelines for Multinational Enterprises and the Financial Sector. www.oecd.org/corporate/mne/38550550.pdf.Google Scholar
Petersen, H. L. and Vredenburg, H. (2009). Morals or economics? Institutional investor preferences for corporate social responsibility. Journal of Business Ethics, 90(1), 114.Google Scholar
Rudd, A. (1981). Social responsibility and portfolio performance. California Management Review, 23(4), 5561.Google Scholar
SAM. (2012a). Australia & New Zealand Banking Group Ltd. Supersector Leader Report.Google Scholar
SAM. (2012b). Itausa – Investimentos Itau SA. Supersector Leader Report.Google Scholar
Scholtens, B. (2006). Finance as a driver of corporate social responsibility. Journal of Business Ethics, 68(1), 1933.Google Scholar
Sjöström, E. (2007). Translating ideologically based concerns: how civil society organisations use the financial market to protect human rights. International Journal of Environment and Sustainable Development, 6(2), 157–73.Google Scholar
Sjöström, E. and Welford, R. (2009). Facilitators and impediments for socially responsible investment: a study of Hong Kong. Corporate Social Responsibility and Environmental Management, 16, 278–88.Google Scholar
Social Investment Forum Foundation (SIF). (2011). 2010 Report on Socially Responsible Investing Trends in the United States. www.ussif.org/store_product.asp?prodid=10.Google Scholar
Sparkes, R. (2002). Socially Responsible Investment: A Global Revolution. London: Wiley.Google Scholar
Sparkes, R. and Cowton, C. J. (2004). The maturing of socially responsible investment: a review of the developing link with corporate social responsibility. Journal of Business Ethics, 52(1), 4557.Google Scholar
Steurer, R. (2013). Disentangling governance: a synoptic view of regulation by government, business and civil society. Policy Science, 46, 387410.Google Scholar
Ullah, S. and Jamali, D. (2010). Institutional investors and corporate social responsibility: the role of Islamic financial institutions. International Review of Business Research Papers, 6, 619–30.Google Scholar
United Nations Global Compact. (2021). UN Global Compact Strategy 2021–2023. New York: United Nations.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×