Corporate social responsibility and how the corporate sector should behave: A case study of New Zealand

Document Type

Book Chapter

Publication Title

Research Handbook on Corporate Board Decision-Making

Publisher

Edward Elgar Publishing

School

School of Business and Law

RAS ID

52928

Comments

Zaman, R., & Liu, J. (2022). Corporate social responsibility and how the corporate sector should behave: A case study of New Zealand. In Research Handbook on Corporate Board Decision-Making (pp. 243-272). Edward Elgar Publishing. https://doi.org/10.4337/9781800377189.00022

Abstract

The recent surge in corporate social irresponsibility (CSiR) incidents, such as Enron, WorldCom, Volkswagen (VW), British Petroleum (BP) and Wells Fargo, have highlighted the importance of corporate social responsibility (CSR) (Voegtlin and Pless, 2014) – so much so that many now consider it a necessity for an organisation to both define its role in society and adhere to social, ethical, legal and responsible standards (Schembera, 2018). With the increasingly serious growth of CSiR issues in recent years, the effective implementation of CSR measures has also become a global policy issue (Farooq et al., 2021a; Farooq and De Villiers, 2019; Jain and Zaman, 2020; Pisani et al., 2017; Zaman et al., 2022). For example, legal authorities have mandated or introduced stakeholders’ interests in the managerial decision-making process (Adams and Zutshi, 2004); the New Zealand Stock Exchange (NZX), for example, recently revised its Corporate Governance (CG) Code (2017) to encourage CSR practices among NZX-listed firms. Likewise, the Australian Securities Exchange (ASX) (2014) and Singapore Exchange Limited (SGX) (2016) CG principles on sustainability reporting; Bombay Stock Exchange’s (BSE) mandatory environmental, social and governance (ESG) disclosure requirement; and the USA Dodd–Frank Wall Street Reform and Consumer Protection Act, 2010 – all have created a new set of practices and requirements to manage business risks.

DOI

10.4337/9781800377189.00022

Access Rights

subscription content

Link to Full Text

Share

 
COinS