Corporate social responsibility in Asia

"Introduction JCC theme issue"

A Look at Corporate Code of Conduct Legislation

Over recent years, there has been a growing perception among civil society in the developed world that multinational corporations are engaged in socially and environmentally exploitative practices that they would never get away with, or even attempt, in their home countries. Whether right or wrong, that perception and its political and economic ramifications have driven a global movement for more responsible corporate behavior. As part of that global movement, three common law jurisdictions—the United States, Australia and the United Kingdom—have seen legislation introduced to enforce standards of practice for multinational corporations based in those countries in respect of their overseas activities. None of those Bills has yet passed into law, but they are worthy of analysis as attempts to transform hitherto amorphous concepts like 'corporate social responsibility' into concrete legislation. This article compares and critically analyses the three Bills, making recommendations as to how they could be improved, with particular emphasis on the need to forge stronger links between the legislative provisions and international human rights law.

Criminal responsibility based on complicity among corporate officers

In a 2001 Issues Paper entitled 'Sentencing: Corporate Offenders', the New South Wales Law Reform Commission outlined a number of reasons for not ascribing liability to individuals within a corporation for unlawful acts arising from the operation of the corporation. One of the reasons raised in the Issues Paper, a reason traditionally used to avoid liability being imposed on individuals for corporate crimes, is that it is conceptually difficult to look behind the form to the substance of a corporate crime in order to establish liability for individual acts, when on the surface the unlawful conduct was caused by a corporation as a collective body. In this article, the authors challenge this position by suggesting that the doctrine of complicity can be used to [*2] pierce the corporate veil and direct criminal liability to those individuals who control the actions of the company. This proposition that company officers can be found liable pursuant to the principles regarding accessorial responsibility is not novel. However, what is unusual is the infrequency with which this wide ranging doctrine is applied in the corporate setting. The focus of this article is to underline the relevance of this doctrine to corporate offenders and, in the process, to assert that the problems of punishing corporate offenders are in principle no different to punishing other crimes which are committed by more than the one offender and can be addressed by the proper application of existing legal principles.

Floating lives : cultural citizenship and the limits of diaspora

Cultural citizenship may, in the simplest terms, be taken to mean a certain 'fit' or compatibility between the cultural attributes of an individual or group and those of the society in which they live. It is a complex concept, taking in rights, responsibilities and competencies as well as the more intangible issues of identity and belonging which have been the subject of intense debates within cultural studies in the last decade. In the case of diasporic or transnational peoples, it is further complicated by the fact of their multiple and unstable cultural and/or civic allegiances (to home and host nations in the first instance, but frequently also to the cultural space of diaspora itself).

This essay examines recent life stories by Chinese Australians: Clara Law's film Floating Life (1996) and two novellas by Liu Guande and Huangfu Jun, published together in English under the title Bitter Peaches and Plums (1995). Focusing on the diversity of experience evoked by notions of cultural belonging, it argues against the prevalent tendency within diaspora studies to engage in a rhetoric of cultural essentialism. The literatures of diaspora deserve to be read as documents of unique and complex cultural experiences rather than mere illustrations of archetypes

Finding voices: authentic learning online in the field of public communication and citizenship

A creative re-acculturation of teachers and students is occurring in virtual classrooms as traditional learning resources, pedagogy, and technology intersect in unexpected ways. This paper reports on a case of authentic, experiential, and constructivist learning developed for tertiary public relations  students. A subject titled ‘Public Communication and Citizenship’ (PCC) at  Deakin University in Australia asked students to examine the problematic and contentious areas of self interest, persuasion, power, and ethics in  contemporary contexts of mass media and globalisation. Feedback from  those students suggests that, in this case, online teaching strategies  successfully integrated with the total learning environment to achieve  higher-order learning. PCC is one example of PR pedagogy combining  theory and technology to move beyond ‘skilling for jobs’.

Accountants, ethical issues and the corporate governance context

A major survey of members of CPA Australia on the issue of ethics was recently conducted. A questionnaire was sent to 7,000 members at random, with those surveyed being asked whether they had come across any one of 14 ethical issues in the previous year. They were also asked to list the issues in order of importance as regards maintaining ethical standards, even if they had not been confronted by them.

Corporate financial disclosure practices in Asian and Middle Eastern countries

This paper investigates the financial disclosure practices of corporate annual reports published in Asian countries including Bangladesh, Indonesian, Malaysia and the Middle East countries including Bahrain, Iran, Jordan, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia and Turkey. The purpose of the study is to measure the financial disclosure diversity in these countries, with a view to developing a classification of their similarities and differences in respect to their compliance with International Accounting Standards (IAS). Annual reports of 126 public companies liisted on the countries' stock exchanges are the central data source, supplemented with other relevant information about financial disclosure practices in each country. A disclosure checklist adopted from all IASs and summarised in 306 individual items of financial disclosures is used as a means of extending an understanding of financial reporting in these countries. Results show the relative degree of conformity with IASs for each of the countries included in this study. 

Empirical evidence from the corporate collapse literature suggesting re-examination of accounting standards in relation to valuation of assets

This paper examines the recent spectacular corporate collapses of Parmalat in Europe, Enron and WorldCom in the USA and HIH in Australia and argues for a re-examination of corporate governance regulations, particularly in relation to accounting standards regarding the valuation of assets. The recommendation that is put forward in this regard is based upon empirical evidence arising from further examination of the empirical results in (Hossari and Rahman, 2004). Specifically, the recommendation is based upon the realization that, among the 48 financial ratios across the 50-plus refereed studies, five financial ratios, all of which contained assets as one of the variables, were a relatively robust indicator of corporate collapse. The five ratios are: Net Income/Total Assets, Current Assets/Current Liabilities, Total Liabilities/Total Assets, Working Capital/Total Assets, and Earnings Before Interest and Taxes/Total Assets. This paper suggests that it's not the failure of the corporate collapse prediction models, rather it's the erosion of the reliability of some key input data, namely assets and the valuation thereof, that is largely responsible for the apparent failure of these models in capturing impending collapses, such as those that we witnessed in the recent past. Such empirical findings support the argument that assets are soft targets for misrepresentation, because of the leeway granted in accounting standards with regards to their valuation.

Corporate donations, the best interest of the company and the proper purpose doctrine

Corporate philanthropy is illegitimate spending by powerful corporate elite of someone else’s money; an attempt to bypass democratic allocation of taxes; philanthropy by individuals is laudable, but not by corporations.

Just as I wouldn’t want you to implement your personal judgments by writing checks on my bank account for charities of your choice, I feel it inappropriate to write checks on your corporate ‘bank account’ for the charities of my choice.

Towards real shareholder participation in contemporary corporate governance

Enhanced shareholder participation in large public companies in Australia has not gone far enough.  Shareholders need to be given the opportunity to contribute to the forming of company decisions and strategies.  One proposal is to require that directors themselves be shareholders. A second proposal mandates shareholder committees in public companies.

Examining integrated advertising and sponsorship in corporate marketing through televised sport

To determine how integrated TV advertising and event sponsorship should be best managed and evaluated, a theoretical framework derived from global exploratory research of academic literature and consulting reports was validated by 16 experts. To benchmark the current practices against the best practice integration methods, 12 campaigns, which had sponsored a televised event and placed advertisements during the broadcast of the event, were analyzed via case studies. The investigated competitions included the Wimbledon Tennis Tournament in London and the Olympic Games in Sydney. The examined brands comprised automotive, financial services, retail chain, office equipment, and consumer goods. A total of 24 semi-structured in-depth interviews were conducted-two for each case-one interview with an internal marketing executive from the promoted corporation, and a second with an external respondent from the advertising agency, event management organization, market research firm, or television channel. The study identified the key techniques that led to increased corporate sales-four steps and four objectives with necessary performance measures.