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This paper attempts to investigate how and why organisations in Macao’s gambling industry engage in corporate social responsibility. It is based on an in-depth investigation of Macao’s gambling industry with 49 semi-structured interviews, conducted in 2011. We found that firms within the industry were emphasising pragmatic legitimacy based on both economic and non-economic contributions, in order to project positive images of the industry, while glossing over two domains of adverse externalities: problem gambling among visitors, and the pollution and despoliation of (...) |
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In this paper, we examine the relation between corporate social responsibility (CSR) and firm risk in controversial industry sectors. We develop and test two competing hypotheses of risk reduction and window dressing. Employing an extensive U.S. sample during the 1991-2010 period from controversial industry firms, such as alcohol, tobacco, gambling, and others, we find that CSR engagement inversely affects firm risk after controlling for various firm characteristics. To deal with endogeneity issue, we adopt a system equation approach and difference regressions (...) |
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In this article, we examine the empirical association between firm value and CSR engagement for firms in sinful industries, such as tobacco, gambling, and alcohol, as well as industries involved with emerging environmental, social, or ethical issues, i.e., weapon, oil, cement, and biotech. We develop and test three hypotheses, the window-dressing hypothesis, the value-enhancement hypothesis, and the value-irrelevance hypothesis. Using an extesive US sample from 1995 to 2009, we find that CSR engagement of firms in controversial industries positively affects firm (...) |
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Many scholars and activists favor banning illicit businesses, especially given that such businesses constitute a large part of the global economy. But these businesses are commonly operated as if they are subject only to the ethical norms their management chooses to recognize, and as a result they sometimes harm innocent people. This can happen in part because there are no effective legal constraints on illicit businesses, and in part because it seems theoretically impossible to dispose definitively of arguments that support (...) |
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A drone industry has emerged in the US, initially funded almost exclusively for military applications. There are now also other uses both governmental and commercial. Many military drones are still being made, however, especially for surveillance and targeted killings. Regarding the latter, this essay calls into question their legality and morality. It recognizes that the issues are complex and controversial, but less so as to the killing of non-combatant civilians. The government using drones for targeted killings maintains secrecy and appeals (...) |
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Business ethics should include illicit businesses as targets of investigation. For, though such businesses violate human rights they have been largely ignored by business ethicists. It is time to surmount this indifference in view of recent international efforts to define illicit businesses for regulatory purposes. Standing in the way, however, is a meta-ethical question as to whether any business can be declared unqualifiedly immoral. In support of an affirmative answer I address a number of counter-indications by comparing approaches to organized (...) |
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This study investigates the effects on organization’s financial performances of, first, the extent to which the organizations are involved in controversial business activities, and second, their level of social performance. These companies can be considered non-socially responsible given the harmful nature of the activities they are involved in. Managers of these companies may still have incentives to pursue socially responsible actions if they believe that engaging on those actions will help them to achieve legitimacy and improve investors’ perception about them. (...) |
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The military-industrial complex (MIC) refers to a self-sustaining politico-economic system that perpetuates profitability in military supplies industries, de facto in multiple countries but primarily in the USA. It is made up of competing and/or collaborating entities -- the maintenance of which is on the whole financially advantageous to all concerned. The complex business objectives sought by participants are fostered in part by exalting technical possibilities but also in part by spreading fear as to dangers that are imminent and can be (...) |
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