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On Corporate and Financial Social Responsiblity

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... Together with trends to open our concept of shareholder responsibility to attribute a wider stakeholder range in every corporate layer, public-private-partnerships have spearheaded multi-stakeholder engagement and imbued the broadest sense of responsibility into the corporate and financial worlds. In recent decades, public-private-partnerships have thus leveraged into the ultimate drivers of Corporate Social Responsibility and Socially Responsible Investments (Puaschunder, 2010(Puaschunder, , 2011. ...
... For corporations, innovative PPPs grant first-mover advantages and public relations management. With continuing globalization and worldwide corporate expansion, international organizations are believed to increasingly view PPPs as a means for enhancing societal prosperityforemost in Corporate Social Responsibility and Socially Responsible Investments (Puaschunder, 2010(Puaschunder, , 2011. ...
... The advanced consideration of Financial Social Responsibility by major institutional investors matured SRI from a niche market option to a more mainstreamed asset allocation style (Puaschunder, 2010). SRI reached unprecedented diversity featuring a wide range of social engagement possibility. ...
... For corporations, innovative PPPs grant first-mover advantages and public relations management. With continuing globalization and worldwide corporate expansion, international organizations are believed to increasingly view PPPs as a means for enhancing societal prosperityforemost in Corporate Social Responsibility and Socially Responsible Investments (Puaschunder, 2010(Puaschunder, , 2011. 1.3.1 Corporate Social Responsibility Globalization also shifted national governments' sustainability implementation to international governance solutions in the corporate world (Panitch & Gindin, 2012). ...
... The advanced consideration of Financial Social Responsibility by major institutional investors matured SRI from a niche market option to a more mainstreamed asset allocation style (Puaschunder, 2010). SRI reached unprecedented diversity featuring a wide range of social engagement possibility. ...
... Today the range of shareholder engagement possibilities is more sophisticated than ever. In the international arena, various SRI practices emerged concurrently as national rules and legal jurisdictions shape corporate and financial social conduct (Puaschunder, 2010). Legal boundaries guide financial considerations and institutional frameworks predestine Financial Social Responsibility practices. ...
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Financial sustainability conscientiousness is presented in the focal point of law, economics and governance. The implementation of sustainability accounts for the most challenging contemporary global governance predicaments that seems to pit today’s against future generations in the trade-off of economic growth versus sustainability. As a novel angle towards sustainability, the Sustainable Development Goals are set out to implement sustainability around the globe on a large scale. In the bottom-up implementation of sustainability, tax ethics, public-private-partnerships (PPPs) and Corporate Social Responsibility (CSR) are discussed. Behavioral insight nudges to steer bottom-up sustainability action include social status manipulations and joint decision making presentation advantages, which account for easily implementable bottom-up democracy in action tools to ensure natural sustainability choices. As for the climate injustice of diverse gains and losses from a warming globe around the world, a tax-and-bonds strategy is proposed to alleviate the losses of climate change on the macroeconomic gains of a warmer climate. Strengthening financial social responsibility, social welfare and environmental protection through future-oriented and socially responsible economic market approaches of capitalism in the 21st century is aimed at alleviating predictable economic, social and environmental crises to ensure a future sustainable humankind for this generation and the following.
... The advanced consideration of Financial Social Responsibility by major institutional investors matured SRI from a niche market option to a more mainstreamed asset allocation style (Puaschunder, 2010). SRI reached unprecedented diversity featuring a wide range of social engagement possibility. ...
... In the international arena, various SRI practices emerged concurrently as national rules and legal jurisdictions shape corporate and financial social conduct (Puaschunder, 2010). Legal boundaries guide financial considerations and institutional frameworks predestine Financial Social Responsibility practices. ...
... Behavioral economics is thereby seen as a realworld relevant means to enable global governance in the world economy and improve societal advancement on a global scale (World Bank, 2015). Yet questionable is whether or not economic calculus can be applied onto the governance of human activity within society without ethical oversight (Puaschunder, 2010). Heuristics may be studied to help explain why people may act illogical and how their fast and impulsive decision making can be turned against them. ...
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The introduction of Artificial Intelligence (AI) in our contemporary society imposes historically unique challenges for humankind. The emerging autonomy of AI holds unique potentials of eternal life of robots, AI and algorithms alongside unprecedented economic superiority, data storage and computational advantages. This chapter provides information on what impact AI taking over the workforce will have on economic growth. A theoretical background on standard neoclassical and heterodox economics growth theories will be given to be then empirically validated. The empirical results find that Internet connectivity is associated with economic growth decline whereas GDP per capita has no significant relation with GDP growth. The discussion closes with a future outlook on the law and economics of AI entrance into our contemporary economies and society in order to aid a successful and humane introduction of AI into our world.
... On the Social Representations of Intergenerational Equity -page 4 of 20 -citizenry were captured by the U.S. Department of Education in early 2008 in order to respond to international challenges in the era of globalization (de Sam, Dougan, Gordon, Puaschunder & St.Clair, 2008). Financial Social Responsibility social representations held by the finance community were depicted at the New York Financial District right before the outbreak of the 2008/09 World Financial Crisis (Puaschunder, 2010). ...
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The idea of intergenerational equity is as old as humankind. Intergenerational equity arises from the elderly wanting their offspring to prosper in at least as favorable conditions as experienced. The natural behavioral law of intergenerational equity was lived for centuries and transpired in the social compound as practiced in ancient, traditional customs ever since. Intergenerational equality is grounded on a human-imbued wish for fairness as there is an ethical preference for fair welfare distribution among different generations. Acknowledging intergenerational equity as a natural behavioral law may serve as a legal basis for the codification of human rights of intergenerational equity. A pro-active overcompliance with contemporary sustainability legislation may stem from a broader social contract within society to incorporate novel responsibilities and embrace discretionary activities that contribute to societal welfare and the well-being of future generations. Globalization increasing internationalization of public and private concerns create a need for an international outlook of intergenerational equity in order to solve global common goods predicaments and draw inferences on the harmonization of intergenerational justice on a global scale in the age of climate change in the twenty-first century.
... The natural, technological and the social. Research on freedom can enlighten different domains: the natural, the technological and the social (Puaschunder, 2010). ...
... Emotionality: In order to evaluate the emotions of the respondents towards implications of the use of Artificial Intelligence, robotics and big data in the healthcare sector; the positive, negative or neutral evaluation of the association was derived to calculate a polarity index per person by equation 1 (Puaschunder, 2010;2015 The respondents view implications of the use of Artificial Intelligence, robotics and big data in the healthcare sector highly positive with 52 positive (59.77%), 4 neutral (4.60%) and 31 ...
... External shocks of economic depressions and wars of the past have impacted on the quality of life of the young ever since they took place, and steered attention towards social responsibility (Puaschunder 2010). But the future risks and opportunities which will arise for the future perspectives of the youth of today in the aftermath of the 2008/09 World Financial Crisis, given unprecedented governmental overindebtedness, an aging Western world population, and irreversible environmental damage, is unknown. ...
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The International Financial Reporting Standards (IFRS) are followed and adopted in more than 140 jurisdictions worldwide nowadays. This tremendous success for the last 20 years in terms of worldwide coverage is also attributable to the main principles-based character of IFRS. This also makes mainly a difference to its “sister” Accounting Standards United States Generally Accepted Accounting Principles (US-GAAP), which is rule-based. All attempts that for U.S. companies it would be allowed to follow IFRS, did not succeed, given the litigious nature of the society of the United States to introduce a principle-based system has barriers, as fundamentals of the Case-laws would need to be restructured and changed. This research paper will look into the practical application and implication of accounting based on principles with the case of related part transactions disclosures. Many of the most well-known accounting scandals were associated to related party transactions (RPT) such as Enron, Wordcom or Parmalat. In general, there are two contrasting views on RPT: they represent either conflicts of interest as they can violate against management’s agency responsibility to shareholders or supervisory board purpose of monitoring. This view is the conflict of interest hypothesis and can be derived from agency theory by Berle and Means (1932) and Jensen and Meckling (1976). The alternative view is the efficient transactions hypothesis, which assumes that RPT efficiently fulfill underlying economic needs of the company, as they represent possibilities to achieve lower refinancing costs. This article will practically enquire into the concept of principles-based accounting. In this research paper, what implies principles-based accounting is inquired considering practical disclosure cases. Many accountants share the expectation that a standard should define disclosure rules, which companies should follow, however principles-based accounting is still after so many years new and challenging. Principles-based accounting requires the accountant to look into the standard and get an understanding what are the principles to comply with and to look through the underpinning of the standard. A lot of tools support the accountants to comprehend the meaning of the standard such as disclosure checklist or the IASB XBRL taxonomy. However, these can never fully substitute the prerequisite to fully comprehend and look into the essence of the principle laid down in the specific standard.
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Corporate social responsibility (CSR) attributes economic, legal, social, and philanthropic responsibilities within the corporate sector. Sustainable financial social responsibility is primarily addressed by socially responsible investment (SRI). This chapter addresses the concepts of CSR and SRI in emerging markets and the developing world with special attention to top-down and bottom-up approaches. Theoretical descriptions discuss the human constituents of responsibility and the international emergence of CSR, with special attention to multi-stakeholder partnerships. The rise of SRI in the international arena in the wake of stakeholder activism and intrinsic socio-psychological motives are outlined. Recommendations target ingraining social responsibility in economic systems by global governance, multi-stakeholder management, and governmental assistance of the implementation and administration of corporate and financial social responsibility.
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The chapter proposes a model to integrate the cognitive and motivational perspectives on social inference. The model specifies (1) the conditions under which affective and motivational factors do and do not influence inferential processes and (2) the mechanisms through which affective and motivational processes influence inferential processes to produce biased conclusions. The chapter focuses on the role of a self-esteem motive in producing the self-serving attribution bias. This particular motive is chosen because a wide variety of theorists throughout the history of psychology have suggested that the need for self-esteem exerts a powerful influence on people's cognitions and behavior. It should be pointed out; however, the model is quite general and applicable to the mechanisms through which other motives influence inferences as well. Influenced by recent developments in cognitive psychology and information processing, the theorists focus on the way people encode and organize—the retrieve information and on the knowledge structures—transformation rules and heuristics that are used to make inferences of various kinds. The chapter briefly discusses some of the major influences on various steps in the sequence when the only goal of the process is to arrive at an accurate attribution for the observed event.
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We examine the use of event studies in management research. We find that there is too little attention paid to critical research design issues. This may lead to faire inferences regarding the significance of events. To prevent such misleading inferences, we recommend a set of standards for publication.
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