首页> 外文期刊>Journal of Business Ethics >How Can A Ratings-based Method For Assessing Corporate Social Responsibility (csr) Provide An Incentive To Firms Excluded From Socially Responsible Investment Indices To Invest In Csr?
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How Can A Ratings-based Method For Assessing Corporate Social Responsibility (csr) Provide An Incentive To Firms Excluded From Socially Responsible Investment Indices To Invest In Csr?

机译:基于评级的评估企业社会责任(csr)的方法如何对被排除在社会责任投资指标之外的企业进行企业社会责任投资提供激励?

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摘要

Socially Responsible Investment (SRI) indices play a major role in the stock markets. A connection between doing good and doing well in business is implied. Leading indices, such as the Domini Social Index and others, exemplify the movement toward investing in socially responsible corporations. However, the question remains: Does the ratings-based methodology for assessing corporate social responsibility (CSR) provide an incentive to firms excluded from SRI indices to invest in CSR? Not in its current format. The ratings-based methodology employed by SRI indices in their selection processes excludes many corporations by creating limited-membership lists. This received ratings-based structure is yet to offer an incentive for most of the excluded corporations to invest in improving their levels of CSR. We, therefore, ask under what circumstances a ratings-based method for assessing CSR could provide an incentive to firms excluded from SRI indices to invest in CSR. In this article, we attempt to offer a theoretical reply to this question. We show that when all firms are publicly ranked according to SRI index parameters, such indices can indeed create a market incentive for increased investment by firms in improving their performance in the area of social responsibility. We further show that this incentive tapers off as the amount of investment required exceeds a certain point or if the amount of payback on that investment fails to reach a certain threshold.
机译:社会责任投资(SRI)指数在股票市场中扮演着重要角色。暗示在做生意和做生意之间有联系。领先的指数(例如,多米尼社会指数(Domini Social Index)和其他指数)例证了向具有社会责任感的公司投资的趋势。但是,问题仍然存在:基于评级的评估企业社会责任(CSR)的方法是否能激励那些被SRI指数排除在外的企业投资CSR?不是当前格式。 SRI指数在选择过程中采用的基于评级的方法通过创建有限成员资格列表将许多公司排除在外。这种基于评级的结构尚未激励大多数被排除在外的公司投资以提高其企业社会责任水平。因此,我们问在什么情况下基于评级的企业社会责任评估方法可以激励那些被SRI指数排除在外的企业投资企业社会责任。在本文中,我们尝试对这个问题提供理论上的答复。我们证明,当所有公司都根据SRI指标参数公开排名时,这些指标确实可以为提高公司在社会责任方面的绩效提供投资的市场激励。我们进一步表明,随着所需投资额超过某个点或该投资的投资回收额未能达到某个特定阈值,该激励措施逐渐减弱。

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