nach oben

Journal of Business Ethics

Erschienen in:

07.06.2018 | Editorial Essay

Business Groups and Corporate Responsibility for the Public Good

verfasst von: Melsa Ararat, Asli M. Colpan, Dirk Matten

Erschienen in: Journal of Business Ethics | Ausgabe 4/2018

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This paper analyzes the relationship between Business Groups as a distinct way of organizing economic activities and their relation to the public good. We first analyze the phenomenon of Business Groups and discuss some of their core features. Subsequently, the paper moves to analyzing the existing literature on Business Groups and corporate social responsibility (CSR) as the most common label for the topic of this Special Issue. Subsequently, specific peculiarities of Business Groups in the context of CSR and their contribution to the public good are fleshed out. Based on this analysis, the paper delineates some implications for the field of CSR and the wider debate on the nature of the firm. We close with some perspectives for future research.

Nächster Artikel Business Groups and Corporate Social Responsibility

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Afsharipour, A., & Rana, S. (2014). The emergence of new corporate social responsibility regimes in China and India. UC Davis Business Law Journal, 14, 175–230.

Agarwal, S. (2016). Corporate social responsibility vs corporate sustainability in India: A case study on Aditya Birla Group. International Journal for Innovative Research in Multidisciplinary Field, 2(6), 76–88.

Almeida, H., & Wolfenzon, D. (2006). Should business groups be dismantled? The equilibrium costs of efficient internal capital markets. Journal of Financial Economics, 79, 99–144.

Ararat, M. (2005). Social responsibility in a state-dependent business system. In A. Habisch, J. Jonker, M. Wegner, & R. Schmidpeter (Eds.), Corporate social responsibility across Europe. Berlin: Springer, 247–61.

Ararat, M., Black, B. S., & Yurtoglu, B. B. (2014). Corporate governance, business groups, and market value: Time-series evidence from Turkey. Northwestern Law & Econ Research Paper No. 13-19; ECGI—Finance Working Paper.

Ararat, M., Black, B. S., & Yurtoglu, B. B. (2017). The effect of corporate governance on firm value and profitability: Time-series evidence from Turkey. Emerging Markets Review, 30, 113–132.

Baars, G., & Spicer, A. (2017). The corporation: A critical, multi-disciplinary handbook. Cambridge: Cambridge University Press.

Bae, K.-H., Kim, S.-B., & Kim, W. (2012). Family control and expropriation at not-for-profit organizations: Evidence from Korean Private Universities. Corporate Governance: An International Review, 20(4), 388–404.

Barley, S. R. (2007). Corporations, democracy, and the public good. Journal of Management Inquiry, 16(3), 201–215.

Barton, D., Horváth, D., & Kipping, M. (Eds.). (2016). Re-imagining capitalism. Oxford York: Oxford University Press.

Baumol, W. J. (1990). Entrepreneurship: Productive, unproductive, and destructive. Journal of Political Economy, 98(5, Part 1), 893–921.

Bebchuk, L. A., & Hamdani, A. (2018). The agency costs of controlling shareholders. Working Paper, Harvard Law School.

Belenzon, S., Berkovitz, T., & Rios, L. A. (2013). Capital markets and firm organization: How financial development shapes European corporate groups. Management Science, 59, 1326–1343.

Berle, A. A., & Means, G. C. (1932). The modern corporation and private property. New York: Transaction.

Bugra, A. (1994). State and business in modern Turkey: A comparative study. Albany, NY: SUNY Press.

Cankorel, T. (2015). Shareholder fiduciary duties: A review of Turkey’s new “Group of Companies” regime in light of Delaware fiduciary duty law. Turkish Commercial Law Review, 1(1), 61.

Carney, M., Gedajlovic, E. R., Heugens, P. P., Van Essen, M., & Van Oosterhout, J. H. (2011). Business group affiliation, performance, context, and strategy: A meta-analysis. Academy of Management Journal, 54, 437–460.

Carroll, A. B. (1991). The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders. Business Horizons, 34(4), 39–48.

Carroll, A. B. (1998). The four faces of corporate citizenship. Business and Society Review, 100(1), 1–7.

Child, J. (2002). The international crisis of confidence in corporations. Academy of Management Executive, 16(3), 145–149.

Cho, E. H., Chun, S. B., & Choi, D. S. (2015). International diversification, corporate social responsibility, and corporate governance: Evidence from Korea. The Journal of Applied Business Research, 31(2), 743–764.

Choi, B. B., Lee, D., & Park, Y. (2013). Corporate social responsibility, corporate governance and earnings quality: Evidence from Korea, Corporate Governance. An International Review, 21(5), 447–467.

Claessens, S., Djankov, S., Fan, J. P. H., & Lang, L. H. P. (2002a). Disentangling the incentive and entrenchment effects of large shareholdings. Journal of Finance, 57, 2741–2771.

Claessens, S., Fan, J. P. H., & Lang, L. H. P. (2002b). The benefits and costs of group affiliation: Evidence from East Asia. CEPR Discussion Paper No. 3364.

Claessens, S., & Kodres, M. L. E. (2014). The regulatory responses to the global financial crisis: Some uncomfortable questions (No. 14–46). International Monetary Fund.

Colpan, A. M. (2010). Business groups in Turkey. In A. M. Colpan, T. Hikino, & J. Lincoln (Eds.), Oxford handbook of business groups (pp. 486–525). Oxford: Oxford University Press.

Colpan, A. M., & Cuervo-Cazurra, A. (2018). Business groups as an organizational model. In J. Aldag (Ed.) Oxford research encyclopedia of business and management. Oxford University Press, forthcoming. https://doi.org/10.1093/acrefore/9780190224851.013.97.

Colpan, A. M., & Hikino, T. (2010). Foundations of business groups: Towards an integrated framework. In A. M. Colpan, T. Hikino, & J. Lincoln (Eds.), Oxford handbook of business groups (pp. 15–66). Oxford: Oxford University Press.

Colpan, A. M., & Hikino, T. (2018). Business groups in the west: Origins, evolution and resilience. Oxford: Oxford University Press.

Colpan, A. M., Hikino, T., & Lincoln, J. R. (2010). The Oxford handbook of business groups. Oxford: Oxford University Press.

Crane, A., Matten, D., & Moon, J. (2008). Corporations and citizenship. Cambridge: Cambridge University Press.

Dávila, C., & Dávila, J. C. (2014). The evolution of a socially committed business group in Colombia, 1911–1985. Australian Economic History Review, 54(2), 164–182.

Djankov, S., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2008). The law and economics of self-dealing. Journal of Financial Economics, 88, 430–465.

Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of Management Review, 20(1), 65–91.

Donaldson, T., & Walsh, J. P. (2015). Toward a theory of business. Research in Organizational Behavior, 35, 181–207.

El Ghoul, S., Guedhami, O., & Pittman, J. (2016). Cross-country evidence on the importance of Big Four auditors to equity pricing: The mediating role of legal institutions. Accounting, Organizations and Society, 54, 60–81.

Faccio, M., Masulis, R. W., & McConnell, J. (2006). Political connections and corporate bailouts. Journal of Finance, 61, 2597–2635.

Fisman, R., & Khanna, T. (2004). Facilitating development: The role of business groups. World Development, 32(4), 609–628.

Freeman, R. E. (2010). Strategic management. A stakeholder approach. New York: Cambridge University Press. (Reprint of the 1984 original.)

Gao, C., Zuzul, T., Jones, G., & Khanna, T. (2017). Overcoming institutional voids: A reputation-based view of long-run survival. Strategic Management Journal, 38(11), 2147–2167.

Gatti, L., Vishwanath, B., Seele, P., & Cottier, B. (2018). Are we moving beyond voluntary CSR? Exploring theoretical and managerial implications of mandatory CSR resulting from the New Indian Companies Act. Journal of Business Ethics, 1–12.

Ghemawat, P., & Khanna, T. (1998). The nature of diversified business groups: A research design and two case studies. Journal of Industrial Economics, 46, 35–61.

Gjølberg, M. (2010). Varieties of corporate social responsibility (CSR): CSR meets the “Nordic Model”. Regulation & Governance, 4(2), 203–229.

Gomez, E. T., Padmanabhan, T., Kamaruddin, N., Bhalla, S., & Fisal, F. (2018). Minister of finance incorporated: Ownership and control of corporate Malaysia. Singapore: Palgrave Macmillan/Springer Nature.

Granovetter, M. (2005). Business groups and social organization. In N. J. Smelser & R. Swedburg (Eds.), The handbook of economic sociology (2nd ed., pp. 429–450). Princeton, NJ: Princeton University Press.

Guereña, A. (2013). The soy mirage: The limits of corporate social responsibility—the case of the company Desarrollo Agrícola del Paraguay. Oxfam Research Reports, ISBN: 978-1-78077-398-8.

Guillen, M. (2000). Business groups in emerging economies: A resource-based view. Academy of Management Journal, 43(3), 362–380.

Hawley, J. P., & Williams, A. T. (2007). Universal owners: Challenges and opportunities. Corporate Governance: An International Review, 15(3), 415–420.

Holmen, M., & Högfeldt, P. (2009). Pyramidal discounts: Tunneling or overinvestment. International Review of Finance, 9(1–2), 133–175.

Holmes, R. M. Jr., Hoskisson, R. E., Kim, H., Wan, W. P., & Holcomb, T. R. (2016). International strategy and business groups: A review and future research agenda. Journal of World Business, 53, 134–153.

Hoque, N., Uddin, M. R., Ibrahim, M., & Mamun, A. (2014). Corporate social responsibilities (CSR) as a means of materializing corporate vision: A Volvo Group approach. Asian Social Science, 10(11), 258–268.

Hoskisson, R. E., Johnson, R. A., Tihanyi, L., & White, R. (2005). Diversified business groups and corporate refocusing in emerging economies. Journal of Management, 31, 941–965.

Jamali, D. (Ed.). (2016). Comparative perspectives on global corporate social responsibility. Hershey, PA: IGI Global.

Jamali, D., & Karam, C. (2018). Corporate social responsibility in developing countries as an emerging field of study. International Journal of Management Reviews, 20(1), 32–61.

Jones, G. (2015). Business groups exist in developed markets also: Britain Since 1850. Harvard Business School Working Paper, No. 16-066, November 2015.

Kantabutra, S., & Avery, G. C. (2011). Sustainable leadership at Siam Cement Group. Journal of Business Strategy, 32(4), 32–41.

Khanna, N., & Rivkin, J. (2001). Estimating the performance effects of business groups in emerging markets. Strategic Management Journal, 22, 45.

Khanna, T. (2000). Business groups and social welfare in emerging markets: Existing evidence and unanswered questions. European Economic Review, 44, 748–761.

Khanna, T., & Palepu, K. (1997). Why focused strategies may be wrong for emerging markets. Harvard Business Review, 7(4), 41–51.

Khanna, T., & Palepu, K. (1999). The right way to restructure conglomerates in emerging markets. Harvard Business Review, 77, 125–134.

Khanna, T., & Palepu, K. (2000). The future of business groups in emerging markets: Long run evidence from Chile. Academy of Management Journal, 43(3), 268–285.

Khanna, T., & Rivkin, J. W. (2006). Interorganizational ties and business group boundaries: Evidence from an emerging economy. Organization Science, 17, 333–352.

Khanna, T., & Yafeh, Y. (2007). Business groups in emerging markets: Paragons or parasites? Journal of Economic Literature, 45, 331–372.

Kim, B., Pae, J., & Yoo, C.-Y. (2017). Business groups and tunneling: Evidence from corporate charitable contributions by Korean companies. Journal of Business Ethics, 1–24.

Kim, H. (2010). Business groups in South Korea. In A. M. Colpan, T. Hikino, & J. Lincoln (Eds.), Oxford handbook of business groups (pp. 157–179). Oxford: Oxford University Press.

Kock, C., & Guillen, M. (2001). Strategy and structure in developing countries: Business groups as an evolutionary response to opportunities for unrelated diversification. Industrial and Corporate Change, 10(1), 77–113.

Krueger, A. O. (1974). The political economy of the rent-seeking society. The American Economic Review, 64(3), 291–303.

La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (1999). Corporate ownership around the world. Journal of Finance, 54(2), 471–517.

Leff, N. H. (1978). Industrial organization and entrepreneurship in the developing countries: The economic groups. Economic Development and Cultural Change, 26(4), 661–675.

Marano, V., Tashman, P., & Kostova, T. (2016). Escaping the iron cage: Liabilities of origin and CSR reporting of emerging market multinational enterprises. Journal of International Business Studies, 48(3), 386–408.

Masulis, R. W., Pham, P. K., & Zein, J. (2011). Family business groups around the world: Financing advantages, control motivations, and organizational choices. Review of Financial Studies, 24, 3556–3600.

Masulis, R. W., & Reza, S. W. (2014). Agency problems of corporate philanthropy. The Review of Financial Studies, 28(2), 592–636.

Matten, D., & Crane, A. (2005). Corporate citizenship: Toward an extended theoretical conceptualization. Academy of Management Review, 30(1), 166–179.

Matten, D., & Moon, J. (2008). ‘Implicit’ and ‘explicit’ CSR: A conceptual framework for a comparative understanding of corporate social responsibility. Academy of Management Review, 33(2), 404–424.

McWilliams, A., & Siegel, D. (2001). Corporate social responsibility: A theory of the firm perspective. Academy of Management Review, 26(1), 117–127.

Melis, A. (2005). Corporate governance failures: To what extent is Parmalat a particularly Italian case? Corporate Governance: An International Review, 13(4), 478–488.

Mena, S., Rintamäki, J., Fleming, P., & Spicer, A. (2016). On the forgetting of corporate irresponsibility. Academy of Management Review, 41(4), 720–738.

Min, B. S. (2017). Organizational assimilation to changed institutional logic: Does business group matter? Working paper presented at Kyoto University Graduate School of Economics Seminar, November 16, 2017.

Montecchia, A., & Di Carlo, E. (2015). Corporate social disclosure under isomorphic pressures: Evidence from business groups. International Journal of Business Governance and Ethics, 10(2), 137–164.

Morck, R. (2010). The riddle of great pyramids. In A. M. Colpan, T. Hikino, & J. Lincoln (Eds.), Oxford handbook of business groups (pp. 602–628). Oxford: Oxford University Press.

Morck, R., Wolfenzon, D., & Yeung, B. (2005). Corporate governance, economic entrenchment, and growth. Journal of Economic Literature, 43, 655–720.

Morck, R., & Yeung, B. (2004). Family control and the rent seeking society. Entrepreneurship Theory and Practice, 28(4), 391–409.

O’Shaughnessy, K. C., Gedajlovic, E., & Reinmoeller, P. (2007). The influence of firm, industry and network on the corporate social performance of Japanese firms. Asia Pacific Journal of Management, 24(3), 283–303.

Oba, V. C. (2011). Impact of corporate social responsibility on the market value of quoted conglomerates in Nigeria. ICAN Journal of Accounting and Finance, 1(3), 64–70.

Ocasio, W. (1997). Towards an attention-based view of the firm. Strategic Management Journal, 18, 187–206.

Oh, W. Y., Chang, Y. K., & Martynov, A. (2011). The effect of ownership structure on corporate social responsibility: Empirical evidence from Korea. Journal of Business Ethics, 104(2), 283–297.

Pagano, M., & Volpin, P. F. (2005). Managers, workers, and corporate control. Journal of Finance, 60(2), 841–868.

Pattnaik, C., Chang, J. J., & Shin, H. H. (2013). Business groups and corporate transparency in emerging markets: Empirical evidence from India. Asia Pacific Journal of Management, 30(4), 987–1004.

Pegg, S. (2012). Social responsibility and resource extraction: Are Chinese oil companies different? Resources Policy, 37, 160–167.

Puchniak, D. W., & Kim, K. S. (2017). A taxonomy. Independent Directors in Asia: A Historical, Contextual and Comparative Approach, 15(355), 89.

Reich-Graefe, R. (2005). Changing paradigms: The liability of corporate groups in Germany. Connecticut Law Review, 37, 785–817.

Rossouw, G. (2005). Business Ethics and Corporate Governance in Africa. Business & Society, 44(1), 94–106.

Scherer, A. G., & Palazzo, G. (2007). Toward a political conception of corporate responsibility—business and society seen from a Habermasian perspective. Academy of Management Review, 32(4), 1096–1120.

Scherer, A. G., & Palazzo, G. (2011). The new political role of business in a globalized world: A review of a new perspective on CSR and its implications for the firm, governance, and democracy. Journal of Management Studies, 48(4), 899–931.

Scherer, A. G., Rasche, A., Palazzo, G., & Spicer, A. (2016). Managing for political corporate social responsibility: New challenges and directions for PCSR 2.0. Journal of Management Studies, 53(3), 273–298.

Schneider, B. R. (2010). Business groups and the state: The politics of expansion, restructuring and collapse. In A. M. Colpan, T. Hikino, & J. Lincoln (Eds.), Oxford handbook of business groups (pp. 650–669). Oxford: Oxford University Press.

Schwartz, M. S., & Carroll, A. B. (2003). Corporate social responsibility: A three domain approach. Business Ethics Quarterly, 13(4), 503–530.

Shah, S. (2014). Corporate social responsibility: A way of life at the Tata Group. Journal of Human Values, 20(1), 59–74.

Sheikh, A. (2017). Corporate social responsibility: Bajaj Group, Journal of Industrial Relationship. Corporate Governance & Management Explorer, 1(1), 12–20.

Shiu, Y. M., & Yang, S. L. (2017). Does engagement in corporate social responsibility provide strategic insurance‐like effects? Strategic Management Journal, 38(2), 455–470.

Strand, R., & Freeman, R. E. (2015). Scandinavian cooperative advantage: The theory and practice of stakeholder engagement in Scandinavia. Journal of Business Ethics, 127(1), 65–85.

Talisayon, S. D. (2010). Corporate social responsibility and emergent models in management of stakeholder capital in Philippine conglomerates. Journal of Asian Business, 4(1&2), 67–86.

Tata, R. N., & Matten, D. (2016). Corporate community involvement in the 21st century. In D. Barton, D. Horvath, & M. Kipping (Eds.), Re-imagining capitalism (pp. 68–83). Oxford: Oxford University Press.

Villalonga, B., & Amit, R. H. (2009). How are U.S. family firms controlled? The Review of Financial Studies, 22(8), 3047–3091.

Visser, W. (2008). CSR in developing countries. In A. Crane, A. McWilliams, D. Matten, J. Moon, & D. Siegel (Eds.), The Oxford handbook of CSR (pp. 473–499). Oxford: Oxford University Press.

Weston, G. G. (2016). Family firms and ‘patient’ capital: Thinking in decades, not in quarters. In D. Barton, D. Horvath, & M. Kipping (Eds.), Re-imagining capitalism (pp. 42–54). Oxford: Oxford University Press.

Williamson, O. E. (1991). Comparative economic organization: The analysis of discrete structural alternatives. Administrative Science Quarterly, 36, 269–296.

Witt, M. A., & Redding, G. (2013). Asian business systems: Institutional comparison, clusters and implications for varieties of capitalism and business systems theory. Socio-Economic Review, 11(2), 265–300.

Yiu, D., Bruton, G. D., & Lu, Y. (2005). Understanding business group performance in an emerging economy: Acquiring resources and capabilities in order to prosper. Journal of Management Studies, 42, 183–206.

Yiu, D. W. (2011). Multinational advantages of Chinese business groups: A theoretical exploration. Management and Organization Review, 7, 249–277.

Yiu, D. W., Lu, Y., Bruton, G. D., & Hoskisson, R. E. (2007). Business groups: An integrated model to focus future research. Journal of Management Studies, 44, 1551–1579.

Titel: Business Groups and Corporate Responsibility for the Public Good
verfasst von: Melsa Ararat
Asli M. Colpan
Dirk Matten
Publikationsdatum: 07.06.2018
Verlag: Springer Netherlands
Erschienen in: Journal of Business Ethics / Ausgabe 4/2018
Print ISSN: 0167-4544
Elektronische ISSN: 1573-0697
DOI: https://doi.org/10.1007/s10551-018-3920-4

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Weitere Artikel der Ausgabe 4/2018

Group Affiliation and Entry Barriers: The Dark Side Of Business Groups In Emerging Markets

We Have Never Been Secular: Religious Identities, Duties, and Ethics in Audit Practice

Voluntarily Disclosing Prosocial Behaviors in Korean Firms

Business Group Affiliation and Corporate Sustainability Strategies of Firms: An Investigation of Firms in India

The Evolution of Business Groups’ Corporate Social Responsibility

Public Professional Accountability: A Conditional Approach