Opportunity cost based analysis of corporate eco-efficiency: A methodology and its application to the CO2-efficiency of German companies

In this paper, we propose the return-to-cost-ratio (RCR) as an alternative approach to the analysis of operational eco-efficiency of companies based on the notion of opportunity costs. RCR helps to overcome two fundamental deficits of existing approaches to eco-efficiency. (1) It translates eco-efficiency into managerial terms by applying the well-established notion of opportunity costs to eco-efficiency analysis. (2) RCR allows to identify and quantify the drivers behind changes in corporate eco-efficiency. RCR is applied to the analysis of the CO2-efficiency of German companies in order to illustrate its usefulness for a detailed analysis of changes in corporate eco-efficiency as well as for the development of effective environmental strategies. (C) 2010 Elsevier Ltd. All rights reserved.

Discourses of Corporate crime as natural disaster: the case of the Paddington Rail Crash

Drawing on the literature in criminology and media studies on the nature of social understandings of corporate crime and its representation in the media, this paper takes one small but important step in this direction by carrying out a linguistic case study on the news coverage of one sequence of events which resulted from corporate negligence – the Paddington rail crash, a sequence of news events that were important as they led to legal change as regards corporate responsibility in Britain. The paper concludes by showing that while the news coverage played an important part in leading to a change in the law regarding corporate responsibility, although this received little coverage in the press.

Internalities and the Foundations of Corporate Governance

This paper considers the potential contained in an 'internalities' approach to corporate governance. Rather than viewing the company as a ‘black box’ that can only be regulated through state action, we argue that corporate governance holds in tension the relationship between investors, managers and the corporate board. It is from that tension that a change in corporate culture will emerge. We argue that a state focus on promoting and managing the dialogical character of corporate governance will limit the negative effects of corporate power

Corporate Governance as a School of Social Reform

In this paper, I present a vision of the corporation as a moral person. I point to “the separation of ownership and control” as a moment when the corporation broke away from the moral lives of ownermanagers. I then draw out the manner in which we can speak of the company as a moral person. Finally, through a discussion of social reporting in two British banks, I point to a shift in how this moral personhood is articulated, with the rise of corporate governance—or doing business well—as its own foundation of corporate responsibility. I propose a view of corporate responsibility as a “transmission mechanism” for the company’s role in moral life, situated in the broader social conception of “moral economy.” This viewpoint sets out landscapes of legitimation and justification through which the ties that underpin economic life are founded

Offshoring Clinical Trials: The Mutable Ethics, Weak Protections and Vulnerable Subjects of EU Law

In this paper I engage with science and technology studies work on pharmaceuticalisation to explore how European Union (EU) law helps to produce and support the preference for pharmaceutical responses in public health governance, while authorising the production of vulnerable subjects through the growing off-shoring of clinical trials. Drawing on the analysis of legal and policy documents, I demonstrate how EU law allows and legitimates the use of data procured from vulnerable subjects abroad for market authorisation and corporate profitability at home. This is possible because the EU has (de)selected international ethical frameworks in order to support the continued and growing use of clinical trials data from abroad. This has helped to stimulate the revision of international ethical frameworks in light of market needs, inscribing EU public health law within specific politics (that often remained obscured by the joint workings of legal and technological discourses). I suggest that law operates as part of a broader ‘technology’ – encompassing ethics and human rights discourses – that functions to optimise life through resort to market reasoning. Law is thereby reoriented, instrumentalised and deployed as part of a broader project aimed at (re)defining and limiting the boundaries of the EU's responsibility for public health, including the broader social production of public health problems and the unequal global order that the EU represents and helps to depoliticise and perpetuate. Overall, this limits the EU's responsibility and accountability for these failures, as well as another: the weak and mutable protections and insecure legacies for vulnerable trial subjects abroad.

Corporate Mechanisms and the Presumption of Accountability

This paper seeks to draw out this focus on form in British public administration reform by focusing on the role that the idea of the corporate form has played in reform. Drawing on the codification of Foundation Trusts in the English NHS, I argue that, while accountability ought to be considered as a 'social space' in which conduct conducive to particular interests emerges, reformers tend to regard accountability as a function of appropriate procedures and forms. The turn to the corporate form relies on a hope that it will deliver various 'accountability' benefits will emerge. This hope, I argue, is misplaced

Corporate ownership and control in Victorian Britain

Using ownership and control data for 890 firm‐years, this article examines the concentration of capital and voting rights in British companies in the second half of the nineteenth century. We find that both capital and voting rights were diffuse by modern‐day standards. However, this does not necessarily mean that there was a modern‐style separation of ownership from control in Victorian Britain. One major implication of our findings is that diffuse ownership was present in the UK much earlier than previously thought, and given that it occurred in an era with weak shareholder protection law, it somewhat undermines the influential law and finance hypothesis. We also find that diffuse ownership is correlated with large boards, a London head office, non‐linear voting rights, and shares traded on multiple markets.