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| Tekijä: | Knudsen, J.S. |
| Otsikko: | Company delistings from the UN global compact: limited business demand or domestic governance failure? |
| Lehti: | Journal of Business Ethics
2011 : OCT, VOL. 103:3, p. 331-349 |
| Asiasana: | business-government relations social responsibility institutions globalization political economy foreign investment |
| Kieli: | eng |
| Tiivistelmä: | While a significant amount of the literature describes corporate benefits of corporate social responsibility (CSR) initiatives, very little is discussed of why some companies announce CSR initiatives, yet fail to implement them. The article inspects company delistings from the UN Global Compact. These are surprising because the CSR agenda is seen to have won the battle of ideas. Firstly, firm-level characteristics are analyzed focusing on geography and controlling for sector and size. Geography is found to be a significant factor while small firms are more likely to be delisted than large firms and some sector characteristics impact delistings. Next, the analysis proceeds to uncover country-level characteristics including international economic interdependence and the quality of governance institutions. Multivariate regression analysis indicates that companies are less likely to be delisted from countries with well-functioning domestic governance institutions. Moreover, firms from countries with international economies are more willing to comply with the UN Global Compact requirements. Countries with a high fraction of outward FDI/capita have a lower share of delisted firms as do internationally competitive countries. |
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