Ten principles of corporate citizenship

Purpose – This paper aims to reflect briefly on some of the major principles that have emerged from the developing policies, practices and debates about corporate citizenship in the last ten years or so.
Design/methodology/approach – Considerable scholarly work has been conducted on corporate citizenship in the past, and will continue to be done in the future. This paper is deliberately written for a non-scholarly audience.
Findings – Ten principles are outlined, all of them focusing on developing a cultural aspect of corporate citizenship as good business.
Originality/value – The basic premise of this paper is that significant cultural change, through corporate citizenship will only take place by business implementing policies, and practices based on the sort of sound (but basic) principles presented here. These ten principles, in this format, are original to this paper.

Gambling and corporate social responsibility (CSR) : re-defining industry and state roles on duty of care, host responsibility and risk management

During the 1990s, states embraced legalised gambling as a means of supplementing state revenue. But gaming machines (EGMs, pokies, VLTs, Slots) have become increasingly controversial in countries such as Australia, Canada and New Zealand, which experienced unprecedented roll-out of gaming machines in casino and community settings; alongside revenue windfalls for both governments and the gambling industry. Governments have recognised that gambling results in a range of social and economic harms and, similar to tobacco and alcohol, have introduced public policies predicated on harm minimisation. Yet despite these, gaming losses have continued to climb in most jurisdictions, along with concerns about gambling-related harms. The first part of this article discusses an emerging debate in Ontario Canada, that draws parallels between host responsibility in alcohol and gambling venues. In Canada, where government owns and operates the gaming industry, this debate prompts important questions on the role of the state, duty of care and regulation ‘in the public interest’ and on CSR, host responsibility and consumer protection. This prompts the question: Do governments owe a duty of care to gamblers?

The article then discusses three domains of accumulating research evidence to inform questions raised in the Ontario debate: evidence that visible behavioural indicators can be used with high confidence to identify problem gamblers on-site in venues as they gamble; new systems using player tracking and loyalty data that can provide management with high precision identification of problem gamblers and associated risk (for protective interventions); and research on technological design features of new generation gaming products in interaction with players, that shows how EGM machines can be the site for monitoring/protecting players. We then canvass some leading international jurisdictions on gambling policy CSR and consumer protection.

In light of this new research, we ask whether the risk of legal liability poses a tipping point for more interventionist public policy responses by both the state and industry. This includes a proactive role for the state in re-regulating the gambling industry/products; instituting new forms of gaming machine product control/protection; and reinforcing corporate social responsibility (CSR) and host responsibility obligations on gambling providers – beyond self-regulatory codes. We argue the ground is shifting, there is new evidence to inform public policy and government regulation and there are new pressures on gambling providers and regulators to avail themselves of the new technology – or risk litigation

Corporate social responsibility : a resource-based view of the firm

This paper reviews the application of the corporate social responsibility (CSR) as an intangible dynamic resource, its application in the formulation of marketing strategies and its association with business performance, using the theoretical framework of resource-based view of the firm (RBV). The study aims to address the control and governance of the application of the CSR with respect to self-control and regulatory control of corporate compliance. A model of CSR is suggested that represents the predictors of the construct (CSR) to facilitate the test of its usefulness in explaining the extent to which organisations may choose to be socially responsible.

Top Taiwanese and Turkish companies and their engagement with corporate ethics

The objective of this paper is to describe and compare the current, emerging Taiwanese and Turkish interest in corporate ethical engagement. This paper is based upon a survey amongst the top companies operating in Taiwan and Turkey. There are major differences between the top Taiwanese and Turkish companies, where the Turkish companies appear to be more ethically engaged than the Taiwanese companies which came as a surprise to the researchers as Taiwan is a more substantially developed economy than Turkey and one may have assumed therefore more engaged with ethical practices.

An investigation of corporate image, customer satisfaction and loyalty-more than just monkey business

Prior research into corporate branding, of which corporate image is a key construct, has focused primarily on products. There has, however, been limited academic research focusing on corporate branding in the leisure services sector. However, in an increasingly competitive environment, leisure services need to treat branding and image management as more than just "monkey business". This study addresses this by developing a model and empirically testing the relationships between corporate image, the dimensions of corporate image, customer satisfaction and loyalty in the context of a Zoological garden. As predicted, a strong relationship was found between corporate image, customer satisfaction and customer loyalty. Our results also suggest that three dimensions of corporate image (adventure, mission/vision and agreeableness) explain a significant propOliion of the variance in satisfaction and loyalty.

Corporate governance, firm characteristics and risk management committee formation in Australian companies

Purpose – The purpose of this paper is to examine how a risk management committee (RMC), as a newly evolving sub-committee of the board of directors, functions as a key governance support mechanism in the oversight an organisation's risk management strategies, policies and processes. However, empirical evidence on the factors associated with the existence and the type of RMCs remains scant.

Design/methodology/approach – Using an agency theory perspective, this study investigates the association between board factors such as proportion of non-executive directors, Chief Executive Officer duality, and board size; as well as, other firm-related factors (e.g. auditor type, industry, leverage, and complexity), and the existence of a RMC, and the type of RMC (namely, a separate RMC versus one that is combined with the audit committee). Data was collected from the annual reports of the top 300 Australian Stock Exchange (ASX)-listed companies.

Findings – The results, based on logistic regression analyses, indicate that RMCs tend to exist in companies with an independent board chairman and larger boards. Further, the results also indicate that in comparison to companies with a combined RMC and audit committee, those with a separate RMC are more likely to have larger boards, higher financial reporting risk and lower organisational complexity.

Research limitations/implications – Data limited to top 200 top ASX-listed companies, thus restricting generalisability of the results.

Originality/value – The findings of this study provide additional information on the use and design of RMCs in a voluntary setting.

Corporate responsibility reports assurance trends and the role of management accountants

Over the past decade, corporate responsibility (CR) has moved from the fringes of the business world to being a significant boardroom agenda. What began largely as an extension of public relations reporting where organisations disclosed basic health and safety monitoring, and environmental impact results has now grown to a wider set of governance practices premised on the philosophy of sustainability.

This paper discusses some of the developing trends in the area of assurance of CR reports, and the emerging challenges faced by the assurance providers and managers alike. The paper also explores the role of management accountants in enhancing CR reporting and its assurance practices.