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  1. Corporate Social Responsibility in the International Banking Industry.Bert Scholtens - 2009 - Journal of Business Ethics 86 (2):159-175.
    This article aims at providing a framework to assess corporate social responsibility with international banks. Currently, it is mainly rating institutions like EIRIS and KLD that provide information about firms’ social conduct and performance. However, this is costly information and it is not clear how the rating institutions arrive at their conclusion. We develop a framework to assess the social responsibility of internationally operating banks. We apply this framework to more than 30 institutions and find significant differences among individual banks, (...)
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  • New Evidence on the Role of the Media in Corporate Social Responsibility.Ajay Patel, Robert Nash, Omrane Guedhami & Sadok El Ghoul - 2019 - Journal of Business Ethics 154 (4):1051-1079.
    Prior research suggests that the media plays an important information intermediary role in capital markets. We investigate the role of the media in influencing firms’ engagement in corporate social responsibility activities. Using a large sample of 4396 unique firms from 42 countries over the period 2003–2012, we find strong evidence that firms engage in more CSR activities if located in countries where the media has more freedom. This relation is robust to using various proxies for media freedom, an alternative source (...)
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  • Carbon Risk, Carbon Risk Awareness and the Cost of Debt Financing.Juhyun Jung, Kathleen Herbohn & Peter Clarkson - 2018 - Journal of Business Ethics 150 (4):1151-1171.
    We seek insights into potential benefits for firms adopting strategies to improve business sustainability in a carbon-constrained future. We investigate whether lenders incorporate a firm’s exposure to carbon-related risk into lending decisions through the cost of financing, and if so, importantly whether firms can mitigate the penalty by demonstrating an awareness of their carbon risks. We use a sample of 255 firm-year observations from eight industries over the period 2009–2013. We measure carbon-related risk exposure as the firm’s historical carbon emissions (...)
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  • Evidence on Whether Banks Consider Carbon Risk in Their Lending Decisions.Kathleen Herbohn, Ru Gao & Peter Clarkson - 2019 - Journal of Business Ethics 158 (1):155-175.
    Banks face a dilemma in choosing between maximising profits and facilitating the sustainable use of resources within a carbon-constrained future. This study provides empirical evidence on this dilemma, investigating whether a bank loan announcement for a firm with high carbon risk conveys information to investors about the firm’s carbon risk exposure collected through a bank’s pre-loan screening and ongoing monitoring. We use a sample of 120 bank loan announcements for ASX-listed firms over the period 2009–2015. We measure high carbon risk (...)
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  • (1 other version)Analysis of Social Performance in the Spanish Financial Industry Through Public Data. A Proposal.Marta de La Cuesta-González, María Jesús Muñoz-Torres & María Ángeles Fernández-Izquierdo - 2006 - Journal of Business Ethics 69 (3):289-304.
    Banking firms are becoming increasingly aware that their clients’ management of environmental and social risks may in term threaten their own business as lenders and investors. In addition, stakeholders are requiring banks to improve their social performance. As a result, some banks are developing corporate social responsibility (CSR) policies and management systems to reduce potential risks and improve their performance. In the Spanish financial system, half of the banking firms are savings banks, most of which have always used some Corporate (...)
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  • Environmental Sustainability and Implied Cost of Equity: International Evidence.Kartick Gupta - 2018 - Journal of Business Ethics 147 (2):343-365.
    In this paper, we examine the relationship between the environmental practices and implied cost of equity. Using a comprehensive sample of 23,301 firm–year observations from 43 countries, we find that an improvement in environmental practices leads to reduction of the implied cost of equity. Further, the results are stronger in countries where country-level governance is weak. Our results indicate that most of the benefits come from the reduction of emission and unnecessary wastage of resources. Our results remain robust to alternative (...)
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  • Cooperative values: Change and continuity in capital accumulation the case of the british cooperative bank. [REVIEW]Peter Davis & Steve Worthington - 1993 - Journal of Business Ethics 12 (11):849 - 859.
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  • Corporate Social Responsibility and Credit Ratings.Najah Attig, Sadok El Ghoul, Omrane Guedhami & Jungwon Suh - 2013 - Journal of Business Ethics 117 (4):679-694.
    This study provides evidence on the relationship between corporate social responsibility and firms’ credit ratings. We find that credit rating agencies tend to award relatively high ratings to firms with good social performance. This pattern is robust to controlling for key firm characteristics as well as endogeneity between CSR and credit ratings. We also find that CSR strengths and concerns influence credit ratings and that the individual components of CSR that relate to primary stakeholder management matter most in explaining firms’ (...)
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  • Corporate Social Responsibility: Views from the Frontline.Lisa Whitehouse - 2006 - Journal of Business Ethics 63 (3):279-296.
    This paper offers an evaluation of corporate policy and practice in respect of corporate social responsibility (CSR) deriving from an analysis of qualitative data, obtained during semi-structured interviews with the representatives of 16 companies from a variety of UK sectors including retail, mining, financial services and mobile telephony. The findings of the empirical survey are presented in five sections that trace chronologically the process of CSR policy development. The first identifies the meaning attributed to CSR by the respondent companies followed (...)
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  • Conclusion.[author unknown] - 1926 - Archives de Philosophie 4 (3):112.
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  • Taking the pulse: Ethics and the british cooperative bank. [REVIEW]Alan Kitson - 1996 - Journal of Business Ethics 15 (9):1021 - 1031.
    Policy statements on ethical issues abound. If all organisations which produce mission statements, codes of practice or ethical codes were, therefore, ethical in conduct and performance, business ethics would be non-problematic. However, the effectiveness of corporate codes of ethics is dependent, inter alia, on the day-to-day behaviour of managers.Interest in the impact of ethical codes and mission statements on managerial behaviour has grown in recent years. The assumption underlying this paper is that one way of enriching our understanding of the (...)
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  • (1 other version)Analysis of social performance in the spanish financial industry through public data. A proposal.Marta de la Cuesta-González, María Jesús Muñoz-Torres & María Ángeles Fernández-Izquierdo - 2006 - Journal of Business Ethics 69 (3):289-304.
    Banking firms are becoming increasingly aware that their clients’ management of environmental and social risks may in term threaten their own business as lenders and investors. In addition, stakeholders are requiring banks to improve their social performance. As a result, some banks are developing corporate social responsibility (CSR) policies and management systems to reduce potential risks and improve their performance. In the Spanish financial system, half of the banking firms are savings banks, most of which have always used some Corporate (...)
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  • Do Lenders Applaud Corporate Environmental Performance? Evidence from Chinese Private-Owned Firms.Xingqiang Du, Jianying Weng, Quan Zeng, Yingying Chang & Hongmei Pei - 2017 - Journal of Business Ethics 143 (1):179-207.
    This study extends previous literature on the association between corporate social responsibility and corporate financial behavior by investigating the influence of corporate environmental performance on the cost of debt. Using a sample of Chinese private-owned firms, we document strong and consistent evidence to show that corporate environmental performance is significantly negatively associated with the interest rate on debt—the proxy for the cost of debt. The findings suggest that lenders applaud better environmental performance. Moreover, internal control attenuates the negative association between (...)
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  • National Stakeholder Orientation, Corporate Social Responsibility, and Bank Loan Cost.Yan-Leung Cheung, Weiqiang Tan & Wenming Wang - 2018 - Journal of Business Ethics 150 (2):505-524.
    Based on a sample of firms from 20 countries around the world, this study investigates how the relationship between corporate social responsibility and bank loan pricing is affected by the degree of national stakeholder orientation. We find that firms with superior CSR performance are more likely to enjoy lower loan costs in more stakeholder-oriented countries than are their counterparts in less stakeholder-oriented countries. This study contributes to the CSR literature by highlighting the importance of national institutional environments in determining the (...)
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  • Corporate Environmental Responsibility and the Cost of Capital: International Evidence.Sadok El Ghoul, Omrane Guedhami, Hakkon Kim & Kwangwoo Park - 2018 - Journal of Business Ethics 149 (2):335-361.
    We examine how corporate environmental responsibility affects the cost of equity capital for manufacturing firms in 30 countries. Using several approaches to estimate firms’ ex ante equity financing costs, we find in regressions that control for firm-level characteristics as well as industry, year, and country effects that the cost of equity capital is lower when firms have higher CER. This finding is robust to addressing endogeneity through instrumental variables, to using alternative specifications and proxies for the cost of equity capital, (...)
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