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This paper analyses whether mandatory CSR reporting regulation leads to an improvement in corporate social performance. Using a quasi-natural experiment where the Stock Exchange Board of India mandated all companies listed on the Bombay Stock Exchange to disclose their CSR activities and practices, this paper finds that companies significantly improved in all aspects of Environment, Social, and Governance performances. However, governance and social performance improvements were significantly greater than environment performance, which is attributed to the stakeholder salience typology. Potential harm from definitive, dominant and dangerous stakeholders was given greater consideration by management, which improved governance and social performances accordingly.

This paper compares the CSR profiles of companies operating under the same macroeconomic institutions but with different levels of union density. Drawing from stakeholder and neo-institutional theories that distinguish between internal and external actions, this paper finds that companies initially have to substitute internal for external CSR. After some experience dealing with unions, companies can complement both actions. There is perhaps a reinforcement of mutual trust and loyalty, and has implications for managerial prerogatives.

This paper studies the strategic interaction between employee stakeholders, in particular labor unions, and top management, and evaluates the effect of the two parties’ inherent competitive rent-seeking behavior on CEO pay. Using a panel of firms listed on the S&P/TSX composite index, this paper finds that CEO compensation withstood the financial crisis despite lower and even negative corporate performance. Further, heavily-unionized companies were associated with higher CEO pay in terms of non-equity elements such as salary and pension allocations. The presence of unions had no observed effect in reducing bonuses, stock options, and restricted stock units. These findings have implications for the debate on income inequality, and the power of unions to bring about change.

Comparing wages between peers affects job satisfaction more than absolute income, argues Umar Boodoo

Is the world ready to review its system of carrots and sticks for corporations?, asks Muhammad Umar Boodoo

This paper compares the CSR profiles of companies operating under the same macroeconomic institutions but with different levels of union density. Drawing from stakeholder and neo-institutional theories that distinguish between internal and external actions, this paper finds that companies initially have to substitute internal for external CSR. After some experience dealing with unions, companies can complement both actions. There is perhaps a reinforcement of mutual trust and loyalty, and has implications for managerial prerogatives.

This paper analyses whether mandatory CSR reporting regulation leads to an improvement in corporate social performance. Using a quasi-natural experiment where the Stock Exchange Board of India mandated all companies listed on the Bombay Stock Exchange to disclose their CSR activities and practices, this paper finds that companies significantly improved in all aspects of Environment, Social, and Governance performances. However, governance and social performance improvements were significantly greater than environment performance, which is attributed to the stakeholder salience typology. Potential harm from definitive, dominant and dangerous stakeholders was given greater consideration by management, which improved governance and social performances accordingly.