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This paper analyzes the relationship between dividend policy and the rate of return on bank holding company (BHC) stocks. We hypothesize that the representative investor in BHC shares has a preference for dividend income over prospective capital gains return. Regulatory policy is hypothesized as playing a role in the determination of the substitutability between dividends and capital gains. To test our hypothesis, two different specifications of the SML were established for the years 1971‐80. Our cross‐sectional sample included forty‐four large BHCs. In general, the statistical evidence provides support for the supposition that investors in BHC stock do not consider expected dividend return and capital gain return as perfect substitutes.

A historical analysis of Sikhism demonstrates that Sikh thinking on ethical management has long predated academic thinking and research pertaining to this subject. It also demonstrates the relationship between good management and peace. Sikhism with its relatively secular orientation promoted both profits by working and the peaceful society that was necessary to obtain these. Hence the concept of ‘Sikh Peace management’ became a reality. Its foundation is the idea that working and management for the common good acts as a spiritual experience and that it interacts with and reinforces a peaceful environment. Despite its similarities with Calvin’s work ethics Sikhism did not lead to religious warfare like in 16th and 17th century Europe. It did result however in ‘defensive’ characteristics, which, just like work, became part of a new spirituality.

This chapter explores the concept of ‘dharma’ (duty orientation) and ‘karma’ (action orientation) of corporate social responsibility (CSR) from Vedantic (Vedanta) viewpoints. Islam, Buddhism and Christianity have received wider attentions in the CSR literatures from philosophical and religious perspective. However, Vedanta is yet to be explored in the context of CSR. This chapter therefore is timely and fills the gap in the CSR literature.

In this chapter, the authors employ hermeneutics, a qualitative research methodology which involves the study, understanding and interpretation of religious texts of Vedanta particularly the ‘dharma’ and ‘karma’ in the context of CSR.

In a nutshell, the Vedanta provides an inside-out approach to CSR, which is development of the individual leader’s self-conscience. The leaders and the role they play in corporations are crucial in ensuring transparency, good conduct and governance towards the ultimate aim of achieving CSR.

This chapter analyses the Vedantic perspectives on communication in establishing CSR objectives. It investigates the problems and prospects of Vedantic style of communicating CSR.

The purpose of this paper is to propose a set of screens which would filter in the corporate social responsibility (CSR) programs that make business sense for a firm and screen out those that do not. This process based set of screens filter CSR initiatives based on certain inclusion and exclusion parameters. This paper further presents an integrated conceptualization of a strategic CSR framework. The CSR programs that pass through the set of screens are evaluated based on its strategic characteristics and the business gains from it.

This paper is conceptual in nature. The approach adopted in this paper is first to set the study context by presenting the extant literature on CSR and strategic management. Further based upon the perspectives from extant literature, the author incrementally builds an integrated framework on strategic CSR by using and providing logical arguments.

This conceptual paper presents new and richer theoretical perspectives on strategic CSR and thus extending the known theoretical knowledge boundaries on CSR. Further, insights could be gathered if the strategic CSR theoretical framework developed in this paper is studied empirically.

The perspectives on strategic CSR developed in this paper would help managers to design strategic CSR programs based on its focus and direction, proactiveness, activity nature, characteristics, and benefits.

In the past some scholars had attempted to develop framework on designing strategic CSR. In this paper, the author attempts to provide a more holistic and yet comprehensive theoretical perspective on strategic CSR initiatives. CSR managers can use this framework to design their CSR initiatives and manage their firm's CSR initiatives in a more effective and efficient manner.