The Level of Compliance with the International Code of Marketing of Breast-Milk Substitutes: Does it Matter to Stock Markets?
The present paper explores, theoretically, and empirically, whether compliance with the International Code of marketing of breast-milk substitutes impacts on financial performance measured by stock markets. The empirical analysis, which considers a 20-year period, shows that stock markets are indiff...
| Главные авторы: | ; ; |
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| Формат: | Электронный ресурс Статья |
| Язык: | Английский |
| Проверить наличие: | HBZ Gateway |
| Journals Online & Print: | Загрузка...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Опубликовано: |
Springer Science + Business Media B. V
2014
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| В: |
Journal of business ethics
Год: 2014, Том: 119, Выпуск: 3, Страницы: 329-348 |
| Другие ключевые слова: | B
Socially Responsible Investment
B Shareholder Value B Human Rights B Stock Market B Corporate social responsibility (CSR) B Breast-milk substitute marketing |
| Online-ссылка: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Итог: | The present paper explores, theoretically, and empirically, whether compliance with the International Code of marketing of breast-milk substitutes impacts on financial performance measured by stock markets. The empirical analysis, which considers a 20-year period, shows that stock markets are indifferent to the level of compliance by manufacturers with the International Code. Two important issues emerge from this result. Based on our finding that financial performance as measured by stock markets cannot explain the level of compliance, the first issue refers to what alternative types of mechanisms drive manufacturers who comply the least with voluntary codes such as the International Code. Conversely, from our finding that stock markets do not reward the most compliant, the second issue raised is an inherent weakness of stock markets to fully incorporate social and environmental values. |
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| ISSN: | 1573-0697 |
| Второстепенные работы: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-013-1625-2 |