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Article
Publication date: 4 January 2013

Duffy Morf, Dale L. Flesher, Mario Hayek, Stephanie Pane and Caroline Hayek

The purpose of this paper is to analyze how social power and pressures over the past century have shifted the audience towards which organizations find themselves accountable, as…

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Abstract

Purpose

The purpose of this paper is to analyze how social power and pressures over the past century have shifted the audience towards which organizations find themselves accountable, as reflected in their social responsibility reporting.

Design/methodology/approach

The authors use historical analysis to analyze qualitatively the annual reports of prominent US organizations between the 1900s to the early 2000s. Adopting an integrationist perspective, the authors ground their research in stakeholder theory and reviewed passages in annual reports identifying the audiences of socially responsible organizational initiatives.

Findings

The study revealed that the degree and focus of corporate accountability shifted over the course of the 1900s, and that this change was due to shifts in influence and power stemming from different stakeholders. During the early 1900s, organizations were more concerned with pleasing internal stakeholders (i.e. employees); however, economic and social events shifted this attention towards external stakeholder groups (i.e. the environment) during the latter part of the century. More recent events fueled social pressures, resulting in legislation and social reporting guidelines during the first decade of the twenty‐first century.

Practical implications

Organizations will continue to be held accountable as new stakeholder groups emerge and different social movements and economic changes transpire, exerting more pressure on organizations to be socially responsible. Furthermore, organizations need to remain current on social reporting guidelines, as these increasingly become the means of communication with multiple stakeholder groups. In summary, findings suggest that organizations would benefit by staying abreast of economic and social cues when developing their socially responsible initiatives and reporting.

Originality/value

The unique contribution of this paper is to identify how economic and social events place pressure on organizations and shift organizational attention through an accountability mechanism, resulting in changes in the focus of social responsibility reporting.

Details

Journal of Management History, vol. 19 no. 1
Type: Research Article
ISSN: 1751-1348

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Article
Publication date: 4 January 2013

Shawn M. Carraher

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Details

Journal of Management History, vol. 19 no. 1
Type: Research Article
ISSN: 1751-1348

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Book part
Publication date: 9 October 2020

Halil Kiymaz

Abstract

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Corporate Fraud Exposed
Type: Book
ISBN: 978-1-78973-418-8

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Book part
Publication date: 10 July 2020

Reinhard Schumacher and Scott Scheall

During the last years of his life, the mathematician Karl Menger worked on a biography of his father, the economist and founder of the Austrian School of Economics, Carl Menger…

Abstract

During the last years of his life, the mathematician Karl Menger worked on a biography of his father, the economist and founder of the Austrian School of Economics, Carl Menger. The younger Menger never finished the work. While working in the Menger collections at Duke University’s David M. Rubenstein Rare Book and Manuscript Library, we discovered draft chapters of the biography, a valuable source of information given that relatively little is known about Carl Menger’s life nearly a hundred years after his death. The unfinished biography covers Carl Menger’s family background and his life through early 1889. In this chapter, the authors discuss the biography and the most valuable new insights it provides into Carl Menger’s life, including Carl Menger’s family, his childhood, his student years, his time working as a journalist and newspaper editor, his early scientific career, and his relationship with Crown Prince Rudolf.

Details

Research in the History of Economic Thought and Methodology: Including a Symposium on Economists and Authoritarian Regimes in the 20th Century
Type: Book
ISBN: 978-1-83867-703-9

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Article
Publication date: 20 June 2024

Caroline Hartmann, Chu Chen and Mario Hayek

The purpose of this paper is to understand the role of risk-taking attitude as an important antecedent to corporate social responsibility (CSR) initiatives.

51

Abstract

Purpose

The purpose of this paper is to understand the role of risk-taking attitude as an important antecedent to corporate social responsibility (CSR) initiatives.

Design/methodology/approach

The authors use regression models on a sample of 2,136 publicly traded US companies over a 10-year period.

Findings

Corporate risk-taking encourages the pursuit of CSR initiatives and internal (i.e. board strength) and external (i.e. financial analysts) corporate governance mechanisms strengthen that relationship.

Originality/value

While pursuing CSR initiatives involves financial and reputational risks that are evident by the variability in the outcomes (e.g. firm value) of firms that have historically undertaken CSR initiatives, to the best of the authors’ knowledge, this is the first paper to theoretically explain why risk-taking is an important antecedent to CSR and empirically test that relationship.

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Journal of Global Responsibility, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2041-2568

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Article
Publication date: 1 March 1985

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely…

2713

Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Details

International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 March 1988

L.B. Yeager

Austrian views on money and the gold standard are consonant with the general characteristics of the school. First, Austrians are concerned with the complete picture, with how a…

222

Abstract

Austrian views on money and the gold standard are consonant with the general characteristics of the school. First, Austrians are concerned with the complete picture, with how a whole economic system and alternative sets of institutions function. They are alert to the question of unplanned order and of how the decentralised decisions and specialised activities of millions of people can mesh without central planning. They investigate how the market and prices function as a vast communications system and computer, transmitting information and incentives and so enlisting knowledge scattered over many millions of minds that would otherwise necessarily go to waste. They recognise why accurate economic calculation is impossible under socialism. Second, the Austrians appreciate the implications of incomplete, imperfect and scattered knowledge and also the implications of change and unpredictability in human affairs. They pay attention to disequilibrium, to processes as well as end positions, and to entrepreneurial altertness and creativity. Instead of supposing, for example, that cost curves and demand curves are somehow “given” to business decision makers, they recognise it as one of the functions of the competitive process to press for discovery of ways to get the cost curves down — if one speaks of such curves at all. Third, Austrians have certain methodological predilections. They reject the tacit view of economic activity as the result of interplay among objective conditions and impersonal forces. They take pains to trace their analyses back to the subjective perceptions, decisions and actions of individuals trying to cope with a complex and unpredictably changeable world; they recognise introspection as one legitimate source of the facts underpinning economic theory. (While thus practising methodological individualism, they do not subordinate the big question of system‐wide co‐ordination to an excessively narrow focus on the administration of individual firms and households.) Finally, although Austrians like to think of their economics as value‐free and not logically tied to any particular policy position, their insights into positive economics, coupled with plausible value judgements of a humanitarian and individualistic nature, undeniably do lead them to favour free markets.

Details

Journal of Economic Studies, vol. 15 no. 3/4
Type: Research Article
ISSN: 0144-3585

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Book part
Publication date: 8 September 2022

Caroline Colton

William Baumol is best-known as an academic. He was a prodigious researcher and publisher of texts on microeconomic theory, and a highly regarded educator with roles as head of…

Abstract

William Baumol is best-known as an academic. He was a prodigious researcher and publisher of texts on microeconomic theory, and a highly regarded educator with roles as head of the Department of Economics at Princeton University, director of the C.V. Starr Center for Applied Economics and director of the Berkley Center for Entrepreneurship and Innovation at New York University. Less well-known were his engagements as a corporate consultant, notably for the telecommunications monopoly AT&T. Baumol’s work as an advisor, expert witness and theorist for AT&T spanned three decades from 1966. His relationship with AT&T arguably forms the context within which we can better understand his work on contestability theory, which he developed with a team of economists working for AT&T’s Bell Telephone Laboratories in the 1970s. Contestability theory was later deployed as a policy tool to justify industry deregulation and even advocate for monopolies and oligopolies on the ground that they were optimally efficient industry structures if potential competitors faced low barriers of entry. Baumol’s intellectual contribution to contestability theory was arguably influenced by the Chicago school and by AT&T’s drive toward the technological integration of telecommunications. Contestability was a rebellion against economic orthodoxies concerning competition and government regulation, and the status quo within AT&T which opposed market competition on the ground that it threatened the technological integration of the Bell system. The outcome was a revolution in industrial organization that would pave the way for the emergence of platform business models incorporating multi-sided and two-sided markets as exemplified by Amazon and Uber.

Details

Research in the History of Economic Thought and Methodology: Including a Symposium on the Work of William J. Baumol: Heterodox Inspirations and Neoclassical Models
Type: Book
ISBN: 978-1-80382-708-7

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Book part
Publication date: 25 August 2021

Reinhard Schumacher and Scott Scheall

Abstract

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Research in the History of Economic Thought and Methodology: Including A Symposium on Carl Menger at the Centenary of His Death
Type: Book
ISBN: 978-1-80071-144-0

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Article
Publication date: 1 February 1969

Leslie Collins and Caroline Montgomery

Offers the results of an attempt to trace and characterise the origins of what is sometimes termed motivational research. Proclaims that motivational research, complementing…

944

Abstract

Offers the results of an attempt to trace and characterise the origins of what is sometimes termed motivational research. Proclaims that motivational research, complementing formal market research, arises in economic conditions of competitive mass‐production associated with relative affluence and herein is an historical guide to the part played by psychology in modern marketing. Maintains that research effort prior to the introduction of motivational research was concerned with defining markets and developing survey techniques, especially in relation to sampling, questionnaire design, structured interviewing, etc. Concludes that the treatment of many matters of interest here, have had to be relatively condensed but a future article proposes to adjust this.

Details

European Journal of Marketing, vol. 3 no. 2
Type: Research Article
ISSN: 0309-0566

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