of Business Ethics and Organization Studies Vol. 12‚ No. 1 (2007) Positioning Stakeholder Theory within the Debate on Corporate Social Responsibility Manuel Castelo Branco Lúcia Lima Rodrigues Introduction The present-day conception of corporate social responsibility (CSR) implies that companies voluntarily integrate social and environmental concerns in their operations and interaction with stakeholders. The European Commission defines it as “a concept whereby companies decide voluntarily
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Memo to Shareholders – Carpino Company To: Shareholders‚ Carpino Company Inc. From: Subject: First Year Performance of Carpino Company Introduction Upon completion of Carpino Company’s first year of business‚ it is with great satisfaction that I present to you the year end Cash Flow Statement and analysis for the period ended January 31‚ 2007. You will notice the statement as presented shows in detail the various operating‚ investing‚ and financing activities of the organization. Analysis
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A DEBATE FOR THE AGES Nature Versus Nurture Jason Walter Liberty University Psych 101 The nature versus nurture debate is one of the most enduring in the field of psychology. In the 17th century the French philosopher René Descartes set out views which held that we all‚ as individual Human Beings‚ possess certain in-born ideas that enduringly underpin our approach to the world. The British philosophers Thomas Hobbes and John Locke‚ on the other hand‚ took a more empirical approach emphasizing
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Chapter 158 Distributions to Shareholders: Dividends and Repurchases ANSWERS TO END-OF-CHAPTER QUESTIONS 158-1 a. The optimal distribution policy is one that strikes a balance between dividend yield and capital gains so that the firm’s stock price is maximized. b. The dividend irrelevance theory holds that dividend policy has no effect on either the price of a firm’s stock or its cost of capital. The principal proponents of this view are Merton Miller and Franco Modigliani (MM). They
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ISSN 1045-6333 THE SHAREHOLDER WEALTH MAXIMIZATION NORM AND INDUSTRIAL ORGANIZATION Mark J. Roe Discussion Paper No. 339 11/2001 Harvard Law School Cambridge‚ MA 02138 The Center for Law‚ Economics‚ and Business is supported by a grant from the John M. Olin Foundation. This paper can be downloaded without charge from: The Harvard John M. Olin Discussion Paper Series: http://www.law.harvard.edu/programs/olin_center/ SHAREHOLDER WEALTH MAXIMIZATION JEL Class: D42‚ G32
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2.6 Is Shareholder Value Maximization the Right Objective? In their widely cited book The Value Imperative—Managing for Superior Shareholder Returns‚ McTaggart‚ Kontes‚ and Mankins (1994) write‚ Maximizing shareholder value is not an abstract‚ shortsighted‚ impractical‚ or even‚ some might think‚ sinister objective. On the contrary‚ it is a concrete‚ future-oriented‚ pragmatic‚ and worthy objective‚ the pursuit of which motivates and enables managers to make substantially better strategic and organizational
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Stakeholders As argued by Sharma & Starik (12) a stake holder is that which is affected by the operation of an organization entirely or can affect the organization directly. The organization can be of any kind meant to realize certain goals by the society. Stake holders are tenet to the development and performance of the organization without which the organization either cease or collapse completely. As such any organization must strive to identify its stakeholders and their specific needs
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ABSTRACT In this essay‚ I am going to prove that a business organization should be socially responsible in a successful or an effective manner which will eventually benefit the company’s owners or shareholders. I will do so through illustrating the different potential effects of a business organization engaging in Corporate Social Responsibility (“CSR”). The effects that will be shown in this essay would be an increase and decrease in the company’s expenses‚ sustaining and harming the environment
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One of the most widely used concepts in finance is that shareholders require a risk premium over bond yields to bear the additional risks of equity investments. While models such as the two-parameter capital asset pricing model (CAPM) or arbitrage pricing theory offer explicit methods for varying risk premia across securities‚ the models are invariably linked to some underlying market (or factor-specific) risk premium. Unfortunately‚ the theortical models provide limited practical advice on establishing
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It is probably the most discussed and controversial topic in psychology‚ the “nature versus nurture” debate. It is a debate whether human behavior‚ attitude‚ and personalities is the result of biological/genetic factors (nature) or is it life experiences and what we learn/reflect from them (nurture). It is impossible to know for sure if it is nature or if it is nurture affects a person’s behavior more maybe it is a mix of both that decides or suggests an individual’s behavior. There also a possibility
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