The link between corporate philanthropy and firm value has been controversial. On one hand, corporate philanthropy is often criticized as an agency cost because it may serve narrow managerial self-interests. On the other hand, corporate philanthropy may enhance firm value because it improves the relationships between firms and their stakeholders. In this study, we argue that this controversy is contingent upon whether corporate governance mechanisms can stimulate the financial benefit of corporate philanthropy. Based on a sample of U.S. firms from (...) 1996 to 2003, we find that CEO long-term pay positively moderates the relationship between corporate philanthropy and firm value while multiboard outside directors negatively moderate this relationship. Contrary to our expectations, we find that the relationship between corporate philanthropy and firm value enhances as CEO tenure increases. Our findings show that corporate governance plays an important moderating role in the relationship between corporate philanthropy and firm value. (shrink)

Corporate social responsibility research has burgeoned in the past several decades. Despite significant advances, our review of the literature reveals a problematic gap: We know little about how culture, practices, and interactions shape CSR. On further investigation, we discover that limited research utilizes ethnography to understand CSR, which may provide some explanation for this gap. Thus, the purpose of this article is to illustrate the utility of ethnography for advancing business and society research via a multistage framework that demonstrates how (...) three different types of ethnography may be applied to the exploration of CSR. We specifically focus on the alignment between stages in the research process, or methodological fit, as a key criterion of high-quality research. In doing so, we provide researchers embracing different worldviews a tool they may utilize to conduct and evaluate ethnographies in business and society research. (shrink)

We argue the need for academics to resist and challenge the hegemonic discourse of sustainable development within the corporate context. Laclau and Mouffe’s discourse theory provides a useful framework for recognizing the complex nature of sustainable development and a way of conceptualizing counter-hegemonies. Published empirical research that analyzes sustainable development discourse within corporate reports is examined to consider how the hegemonic discourse is constructed. Embedded assumptions within the hegemonic construction are identified including sustainable development as primarily about economic development, progress, (...) growth, profitability, and “responsibly” managed levels of resource depletion. We call for multiple voices in the discursive field to debate and to resist closure and highlight the possibilities for academic researchers to actively resist the hegemonic construction. Specifically, we advocate vigilance and awareness, critical and reflective analyses, challenge and resistance based on other frames of reference, and strategies for communicating both within and outside the academy. (shrink)

Our goals in this article are to summarize the existing literature on the role business can play in creating sustainable peace and to discuss important avenues for extending this research. As part of our discussion, we review the ethical arguments and related research made to date, including the rationale and motivation for businesses to engage in conflict resolution and peace building, and discuss how scholars are extending research in this area. We also focus on specific ways companies can actively engage (...) in conflict reduction including promoting economic development, the rule of law, and principles of external valuation, contributing to a sense of community, and engaging in track-two diplomacy and conflict sensitive practices. We conclude by developing a set of future research questions and considerations. (shrink)

Even though the relevance of business actors in peace processes is increasingly acknowledged, analysis of their particular roles and contributions remain sparse in peace mediation literature. This is despite the fact that such knowledge would be highly relevant for supporting mediation processes such as those ongoing in Colombia or the Philippines. This article looks at the involvement of business actors in mediation processes by tracing analysis along the entry points for involvement, the different roles that business actors can play and (...) the limitations they face. The empirical data shows that business actors mainly play a role during the pre‐ and mediation phase and therein often as a support‐giver to the mediation process. Furthermore, most of the involvement does not take place at track‐1 level but rather at track‐2 mediation processes, where mainly local business play an important role. In contrary to what is postulated by some of the literature, the relevance of utilitaristic motives is not problematic; rather a monetary motivation can also foster the credibility in a political process where a lot is at stake. (shrink)