Corporate social responsibility of small businesses: a developing country perspective

Corporate social responsibility (CSR) has emerged as an important concept for developing countries in recent years. This paper investigates the issues of CSR relating to small businesses that have emerged as a result of market-based reforms in developing countries, where the compliance of voluntary standards, code of conduct and regulations are limited. The paper argues that prevalence of corruption, lack of rule based governance, resource constraints for effective capacity building on the part of the state and lack of awareness have created a weak and unethical corporate culture leading to low levels of CSR in developing countries. Using Bangladesh agriculture sector as an exemplar, this paper investigates how small businesses trading in agricultural inputs with no brand capital and low public visibility are behaving in a socially irresponsible way, in an environment of inadequate regulatory sanctions and compliance by selling contaminated inputs to farmers who are mostly poor and not even aware of their rights. The low levels of CSR is undermining and also threatening the sustainability of the positive impact of the market-based reforms undertaken in this sector. The paper proposes that integrated governance linking state, private sector and civil society can promote good governance and better CSR relating to small businesses .

A comparative study of the contents of corporate codes of ethics in Australia, Canada and Sweden

This paper reports on and analyzes the contents of 197 corporate codes of ethics (78 Australian, 80 Canadian and 39 Swedish). Among other things, it was found that the contents of the Australian and Canadian codes were similar, reflecting the similar histories and cultures (as measured by Hofstede's dimensions) of these two countries. Further, the contents of the Swedish codes were found to be very different from the Australian and Canadian codes in some areas, reflecting the cultural differences between Sweden and the other two countries.

Legal regulation and corporate governance in China`s top 100 listed companies

This article reports findings from an empirical study of corporate governance in China's top 100 listed companies. It examines the effectiveness of legal regulation, enforcement and remedies, finding that China's company and securities laws have not provided as string a legal framework for the protection of stakeholders im China's stock exchange listed companies as might be expected by investors.

German corporate governance in international and European context

The main aim with this book is to provide English speaking readers with a comprehensive overview of the German corporate governance model. The authors introduce the reader to the unique features of the German Business and Enterprise Law. The book deals with the most important company organs, namely the General Meeting, the Management Board and the Supervisory Board. The unique interplay among these organs are also covered and the reader is introduced to the particular dynamics of the German two-tier board structure.Further the authors deal with the dominant role of the "German banks" and new players in the German financial markets, focusing particularly on voting rights of these institutions at companies' general meetings and appointing members to companies' supervisory boards. Accounting is shown as the documentary proof of good corporate governance. The final chapter gives an overview of corporate governance in the European Union, the OECD Principles of Corporate Governance and corporate governance in the US, the UK and Australia.

Performing and reforming leaders : gender, educational restructuring, and organizational change

Performing and Reforming Leaders critically analyzes how women negotiate the dilemmas they face in leadership and managerial roles in Australian schools, universities, and continuing education. The authors examine how new managerialism and markets in education transformed how academics and teachers did their work, and in turn changed the nature of educational leadership in ways that were dissonant with the leadership practices and values women brought to the job.

Evaluating the impact of financial literacy programs on the retirement savings of superannuation fund members

Currently, in Australia, the age pension, paid for out of Commonwealth government taxes, forms the basis of Australia’s retirement income system, however, given the reality of an ageing population has compelled the government to undertake a number of measures to shift the responsibility for saving to the individual, forcing them to accept an increasing level of responsibility for their financial decision-making. In the light of the changing retirement environment, it would be expected that Australians’ would ensure that they became financially literate, however, despite the amount of information and advice available in the market place, this is not the case, and they do not appear to be appropriately prepared for their retirement. Recognising the importance of financial literacy, an increasing number of government agencies, employers, superannuation funds and schools are implementing financial literacy programs in Australia. This article provides an overview of the impact that attending a financial education seminar has on the retirement decisions and settings of participants. Evidence is provided from this research that in the short term, providing financial education programs make a difference to an individual’s intended retirement settings. However, the impact of these education programs in changing investment behaviour is less conclusive.

Strategic approaches of corporate codes of ethics in Australia: a framework for classification and empirical illustration

Purpose - Research has so far not approached the contents of corporate code of ethics from a strategic classification point of view. Therefore, the objective of this paper is to introduce and describe a framework of classification and empirical illustration to provide insights into the strategic approaches of corporate code of ethics content within and across contextual business environments.

Design/methodology/approach - The paper summarizes the content analysis of code prescription and the intensity of codification in the contents of 78 corporate codes of ethics in Australia.

Findings - The paper finds that, generally, the studied corporate codes of ethics in Australia are of standardized and replicated strategic approaches. In particular, customized and individualized strategic approaches are far from penetrating the ethos of corporate codes of ethics content.

Research limitations/implications - The research is limited to Australian codes of ethics. Suggestions for further research are provided in terms of the search for best practice of customized and individualized corporate codes of ethics content across countries.

Practical implications - The framework contributes to an identification of four strategic approaches of corporate codes of ethics content, namely standardized, replicated, individualized and customized.

Originality/value - The principal contribution of this paper is a generic framework to identify strategic approaches of corporate codes of ethics content. The framework is derived from two generic dimensions: the context of application and the application of content. The timing of application is also a crucial generic dimension to the success or failure of codes of ethics content. Empirical illustrations based upon corporate codes of ethics in Australia's top companies underpin the topic explored.

The costs of raising equity capital for closed-end fund IPOs

This article reports on some of the direct costs of raising equity capital by closed-end fund licensed investment company (LIC) initial public offerings (IPOs) in Australia from 1995 to 2005. The amount of underpricing by these IPOs is also identified. The average total direct costs amounted to a relatively low 3.4% of the capital raised, while fees paid to underwriters and/or stockbrokers was around 2.3%, to legal firms around 0.25% and to accounting firms around 0.07%. The average underpricing by these LIC IPOs was 1.3%. This article also confirms that the percentage total direct capital raising costs are inversely related to the size of the IPO and underwritten closed-end fund IPOs tend to have higher percentage total capital raising costs than those not underwritten.

Benchmarking new statistical techniques in ration-based modelling of corporate collapse

Up until 1979, Multiple Discriminant Analysis (MDA) was the primary multivariate methodological approaches to ratio-based modelling of corporate collapse. However, as new statistical tools became available, researchers started testing them with the primary objective of deriving models that would at least do as good a job as MDA, but that rely on fewer assumptions. Regardless of which methodological approach was chosen, most were compared to MDA. This paper analyses 84 studies on ratio based modelling of corporate collapse over the period 1968 to 2004. The results indicate that when MDA was not the primary methodology it was the benchmark of choice for comparison; thereby, demonstrating its importance as a foundation multivariate methodological approach in signalling corporate collapse.

Modelling corporate collapse: definitional issues of the collapse event

This paper investigates problems associated with interpretations of corporate collapse, and argues for a unified legal, rather than financial, definition of the event. In the absence of a formal definition of the event of corporate collapse, the integrity of sample selection becomes questionable; moreover, comparisons between empirical studies becomes less useful, if not altogether futile, due to the lack of a common ground in the basic building block. Upon close examination of 84 studies on ratio-based modeling of corporate collapse, between 1968 and 2004, this paper finds evidence in favor of a legal interpretation of the event of corporate collapse. Specifically, studies that adopted a legal definition are five times as many as those that opted for a financial explanation.

An empirical evaluation of sampling controversies in ratio-based modelling of corporate collapse

Empirical investigations regarding ratio-based modelling of corporate collapse have been on going for decades. With any study of an empirical nature, a data sample is a necessary prerequisite. It allows testing the performance of the prediction model, thereby establishing its practical relevance. However, it is necessary to first ensure that the data sample used satisfies certain conditions, and these have lead to some choice controversies. This paper considers the controversial issues that arise in data sampling, provides a critical evaluation of these issues, and makes choice recommendations on the controversial aspects, by empirically examining the literature.

A heuristic framework for ratio-based modelling of corporate collapse

This paper draws on empirical evidence to demonstrate that a heuristic framework signals collapse with significantly higher accuracy than the traditional static approach. Using a sample of 494 US publicly listed companies comprising 247 collapsed matched with 247 financially healthy ones, a heuristic framework is decisively superior the closer one gets to the event of collapse, culminating in 12.5% more overall accuracy than a static approach during
the year of collapse. An even more dramatic improvement occurs in relation to reduction of Type I error, with a heuristic framework delivering an improvement of 66.7% over its static counterpart.

EDMS, ERMS,ECMS or EDRMS : fighting through the acronyms towards a strategy for effective corporate records management

Records management has been receiving increased attention around the world over the last two decades as governments issue ever more laws and regulations about the management of corporate records. An electronic system to manage records effectively is the ultimate goal of every organisation in both the public private sectors – whether to support the development of E-Government or to conduct business legally. Such systems are not yet clearly defined, however, as the obvious confusion and inconsistency of nomenclature makes very clear. This paper highlights the problem and calls for research into this essential but currently ignored area.

Corporate brand identity and image congruence in the leisure services sector : a stakeholder perspective

This paper aims to contribute to current leisure services and branding literature by conceptualising the relationship between brand identity, brand image and whether a congruent relationship between the two influences customer satisfaction and loyalty. A conceptual model is developed in the context of zoological operations, central constructs and subsequent research propositions are discussed.

A construct of the cross-cultural ethos of corporate codes of ethics (ECCE) : Australia, Canada and Sweden

The objective of this paper is to develop and describe a construct of the ethos of the corporate codes of ethics (i.e., an ECCE-construct) across three countries, namely Australia, Canada and Sweden. The ECCE-construct makes a contribution to theory and practice in the field as it outlines a theoretical construct for the benefit of other researchers. It is also of managerial interest to marketing organizations as it provides a grounded framework of areas to be considered in the implementation in organizations of corporate codes of ethics.