Environmental shareholder value. Economic success with corporate environmental management

The links between corporate environmental protection and economic success have been analysed vigorously in several theoretical and empirical studies. Most studies are based on the hypothesis that the amount of environmental protection is somehow - negatively or positively - correlated with the economic success of the company. We argue that the amount of corporate environmental protection per se neither spurs nor reduces shareholder value, which is maybe the most important measure of economic success at present. Moreover, the effect environmental protection exerts on shareholder value is determined by the manner in which corporate environmental management is practised. Referring to the value drivers of shareholder value, we discuss the characteristics necessary to increase shareholder value, or at least to contain any reduction as effectively as possible.

Accessing the Institutions: The Road to the Socialist-Green Alliance in Spain

This article traces the strategic re-orientation of the Spanish Greens (Los Verdes) from a position of hostility toward the Socialists (PSOE) to one of collaboration that allowed them to gain parliamentary representation in the 2004 national and European elections. Drawing upon insights from the party politics literature, it schematizes a model and then proceeds to use it to provide a diachronic account of factionalist conflict within the ranks of the Greens and their close competitors, the structure of political opportunities, exogenous factors and their interrelationship, up to the point of the electoral agreement between the two parties. In concludes by highlighting the role played by the Madrid bombings in bringing the PSOE back into power and offers some projections about the future institutional access of the Greens.

Understanding Corporate Governance Reform in South Africa: Anglo-American Divergence, the King Reports and Hybridization

This article investigates corporate governance reform in South Africa in the context of the country’s international links with Anglo-American corporate governance and domestic pursuit of socioeconomic development. Two key questions are evaluated. (a) How has divergence within the Anglo-American model influenced corporate governance reform in South Africa? (b) Can South Africa’s historical closeness to the Anglo-American model be combined with increasing attention to stakeholder issues to produce a hybrid “African model” of corporate governance? Evaluating these questions, the following issues are explored in turn: the contrast between shareholder and stakeholder models, divergence between U.S. and U.K. approaches to corporate governance as exemplified by Sarbanes-Oxley, locating a South African approach in context of the Anglo-American model, the King reports and an emerging “African” model of corporate governance, and the role of international and domestic factors in shaping South Africa’s ongoing reform process.

Nonmarket Capabilities and the Prosecution of Trade Remedy Cases in the United States

The study investigates the prosecution of US trade remedy cases as examples of administrative government agency investigations and seeks to identify key capabilities for effective corporate political strategy targeting these institutions. Trade remedy cases are important policy tools, designed to protect domestic firms from ‘unfair’ import competition. The research contributes to the growing literature on corporate political activity and its links with superior outcomes in the marketplace. Three capabilities are identified: the capability to collect market/non-market intelligence, the capability to build and shape the administrative record, and the capability to align business practice with the US trade remedy institutions.

The ‘Us’ in Trust: Who Trusts Northern Ireland’s Political Institutions and Actors?

This article examines levels of interest and trust among the public in relation to Northern Ireland's newly established political institutions and actors, through an analysis of the results of the 2007 Northern Ireland Life and Times Survey (NILT). It is important to reveal the specific groups of people with the highest levels of political disenchantment, particularly in the context of the longer-term stability of the Northern Ireland Assembly and Executive, since the willingness of the electorate to have faith and trust in the workability of these political institutions and in the various political actors in whose custody they lie is considered vital.