The cultural development activities of Banca Popolare di Sondrio have always focused on the needs of its home territory, where the bank has its “head, heart, and roots.” The objective has been to promote and highlight the many cultural and social aspects of the area, as well as its natural beauty and the resources that inspire human creativity. more[...]
As the first company to launch mobile banking in Brazil, the Bank strengthens its strategy of expanding mobility services. more[...]
Bradesco is committed to its stakeholders’ financial education and believes in social transformation through knowledge and awareness fostered by several actions. more[...]
The worldwide financial crisis brought into relief the role of financial systems in economic development and poverty reduction. The World Bank’s first-ever Global Financial Development Report contributes to the policy debates on this topic, building on new datasets, surveys, research and country experience, emphasizing the perspective of low- and middle-income countries. The report re-examines a basic question highlighted by the crisis: what is the proper role of the state in financial development? more[...]
Governments across the Americas are putting profit before the physical and cultural survival of thousands of Indigenous peoples, said Amnesty International in a briefing paper published ahead of the International Day of Indigenous Peoples on 9 August. more[...]
The global financial crisis of 2008 was a stark reminder of business’s role in society. When well governed and well led, the role of business transcends one of profitability for its owners and incentives for its managers. Its role is to create value for society. Profit is a means to an end, not an end in itself. Without profit, there is no growth, and without growth there is no development. But if business does not create value and instead divvies up the same pie over and over again for personal gains (remember the subprime mortgages, collateral debt obligations, and credit default swaps?), then it is bound to fail and cause havoc for society. more[...]
Leonardo Becchetti, Rocco Ciciretti and Alessandro Giovannelli investigates the relationship between Corporate Social Responsibility (hereafter CSR) and I/B/E/S Details analysts’ earnings per share (EPS) forecasts using a large sample of US firm forecasts for the 1997-2004 period. They shows that the net difference between CSR strengths and weaknesses significantly reduces both the absolute earning forecast error and its standard deviation after controlling for standard regressors and year, industry, and firm/broker effects. Their findings are consistent with the hypothesis that reduced transaction costs (and conflicts) with stakeholders and more transparent accounting practices implied by CSR significantly affect the bias. more[...]
"At the end of the day, corporations are citizens too, and they should commit themselves in the same way good citizens would. It's important to emphasize here that other social forces must be involved: there's always at least one organization that is already implementing an idea, someone who has found a better approach to a certain segment of the population or an innovative solution to the same problem." more[...]
For much of the last decade, globalization was a leading issue of public policy debate, and global core labor standards (CLS) were the lead demand of critics of globalization. Now, with the world economy stuck in the deepest economic recession since the 1930s, attention to globalization and the need for labor standards has waned as people have become more concerned about jobs and economic recovery. more[...]
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