Using an innovative fabrication technique, eco-friendly faux leather has been newly developed as a green leather alternative for the Chinese and Korean markets. Value–belief–attitude logic drawn from the heuristic-systemic model :621–642, 1998) and value–belief–norm theory :723–743, 1995) is proposed to explicate the consumer acceptance attitudes toward the EFFL product. The findings from the multi-group structural equation modeling analysis of online data support the relevancy of VBA logic in which utilitarian and hedonic value motivate pro-environmental belief, and the EFFL product attributes (...) significantly mediate belief and positive attitude toward the EFFL product. The discrepancies across two countries and two age cohorts are noteworthy when pro-environmental belief and product-related information lead to different consumer VBA processes in specific market segments. This study presents insights which provide novel opportunities for managerial implementations and theoretical advancements in eco-friendly related subjects and issues. (shrink)

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, (...) countries, and regions. Furthermore, it appears that social responsibility of these banks has significantly improved between 2000 and 2005. (shrink)

Finance is grease to the economy. Therefore, we assume that it may affect corporate social responsibility (CSR) and the sustainability of economic development too. This paper discusses the transmission mechanisms between finance and sustainability. We find that there is no simple one-to-one relationship between financial development and sustainable development but there are various – often indirect – linkages. It appears that most of the literature concentrates on the role of public shareholders when it comes to changing corporate policy and performance (...) in a more sustainable direction. However, this focus neglects the potential impact of the credit channel and private equity on a firm’s non-financial policies and performance. These very powerful mechanisms can govern business policies and practices. Therefore, there appears to be much more scope for finance to promote socially and environmentally desirable activities and to discourage detrimental activities than has been acknowledged in the academic literature so far. (shrink)