Corporate Social Responsibility, Corporate Restructuring and Firm's Performance

by Zu, Liangrong

ISBN13: 9783540708957

ISBN10: 3540708952

Format: Hardcover

Pub. Date: 2009-02-28

Publisher(s): Springer Verlag

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Summary

"In today's globalized and competitive business environment, companies increasingly look to restructuring, mergers acquisitions and downsizing to survive, grow and maximize profits. However, when they are not managed in a socially responsible manner, restructurings may exert the negative impact on employees, shareholders, communities, and society as a whole." "The book empirically explores the phenomena of corporate social responsibility (CSR), restructuring, and relationships with firm's performance in China. It gives an insight into how Chinese firms respond to expectations of stakeholders by making social goals a part of their overall business operations. It also gives a fresh view of the new concept of socially responsible restructuring. For those seeking to promote socially responsible practices in restructuring, the book provides a unique and stimulating analysis and touchstone."--BOOK JACKET.

Foreword	p. v
Preface	p. vii
Acknowledgements	p. xi
Abbreviations	p. xvii
Introduction	p. 1
Introduction	p. 2
The Social Issues Arising from SOE Reform	p. 4
Social Consequences of SOE Reform	p. 5
Ethical Issues in Corporate Governance	p. 8
Reactions to Social Impact of Enterprise Restructuring	p. 10
Research Questions	p. 12
Organization of the Book	p. 13
References	p. 14
Theory and Literature	p. 17
Introduction	p. 17
Corporate Social Responsibility	p. 18
Conceptual Evolution and Rationalization	p. 18
CSR Models	p. 21
Corporate Social Performance and Financial Performance	p. 32
Perceptions of Managers Toward CSR	p. 41
CSR in China: The Rise and Challenges	p. 44
Enterprise Restructuring	p. 50
Concept and Definition	p. 51
The Theory and Practice of Enterprise Reform	p. 52
Enterprise Restructuring and Firm's Performance	p. 55
Corporate Governance	p. 63
Concept and Definition	p. 63
Models of Corporate Governance	p. 66
Corporate Governance in Transition Economies	p. 70
Socially Responsible Restructuring	p. 76
Concept and Definition	p. 77
SRR and Downsizing	p. 81
SRR and Corporate Governance	p. 84
A Model of SRR	p. 89
The Roles of Tripartite Organizations in SRR	p. 93
SRR in Practice: European Way	p. 103
References	p. 117
Enterprise Reform and Restructuring in China	p. 135
Introduction	p. 135
Enterprises Reform and Restructuring: Overview	p. 136
Objectives, Constraints, and Conditioning Factors	p. 136
The Key Reform Stages and Turning Points	p. 138
China's Enterprise Sectors: the Current Situation	p. 141
Privatization and Restructuring of SOEs	p. 157
SOE Restructuring and Transformation	p. 159
Privatization of SMEs	p. 163
The Changing Role of Government in SOE Restructuring	p. 166
Developing an Effective Corporate Governance System	p. 174
Reform Measures to Improve Corporate Governance of SOE	p. 175
Weaknesses in the Corporate Governance Reforms in China	p. 178
Mitigating Social Impact of Restructuring: Social Security Reform	p. 182
Social Impact of Enterprise Restructuring	p. 182
Reforms to Deal with Lay-offs and Redundant Workers	p. 185
Health and Pension System Reforms	p. 187
References	p. 190
Theoretical Framework and Hypotheses	p. 193
Theoretical Framework for Analysis	p. 193
Enterprise Restructuring	p. 195
Stakeholder Groups	p. 196
Corporate Social Responsibility	p. 197
Corporate Governance	p. 197
Hypothesis Development	p. 198
Managers' Attitudes Toward CSR and SRR	p. 198
SRR and Firm's Performance	p. 199
References	p. 201
Data and Methodology	p. 203
Research Methodology	p. 203
Research Design	p. 203
Data Collection	p. 206
Sampling Strategy	p. 208
Sample of Management Survey	p. 209
Sample of Listed Firms	p. 210
Data Analysis	p. 215
Qualitative Data Analysis	p. 215
Financial Data Analysis	p. 218
Econometric Estimation Model	p. 221
References	p. 222
The Effects of Managerial Values on Socially Responsible Restructuring	p. 223
Introduction	p. 223
Attitude-Behavior Theory	p. 223
Changing Conduct and Moral of Doing Business in China	p. 224
Descriptions of Variables and Analysis Techniques	p. 225
Findings and Analysis	p. 227
Attitudes of Managers Toward CSR	p. 227
Managers' Stakeholder Orientation	p. 232
Perceptions of Socially Responsible Restructuring	p. 235
Socially Responsible Behavior in Restructuring	p. 236
CSR Activities of Firms	p. 239
Relationship Between Manager's Attitudes and Socially Responsible Behaviors	p. 239
Conclusion	p. 242
References	p. 243
Socially Responsible Restructuring and Firm's Performance in the Listed Firms	p. 245
Brief Description of Statistical Techniques and Variables	p. 245
Empirical Analysis and Results	p. 248
Relationship Between CSP and Financial Performance	p. 248
Financial and Operating Performance of Listed Firms	p. 253
Conclusion	p. 257
References	p. 258
Balancing Economic and Social Value in Restructuring China's Defense Industry	p. 259
Introduction	p. 259
Rationale for Selecting China Defense Industry as a Case Study	p. 259
Framework for Analysis of Case Study	p. 260
Reform and Restructuring of China's Defense Industry	p. 261
Main Issues in Defense Industry Restructuring	p. 263
Key Reforms in China's Defense Industry in the late 1990s	p. 264
Constraints on China's Defense Industry Reform	p. 271
Strategic Restructuring in China South Industries Group Corp	p. 272
Background	p. 272
Perceptions of Managers Toward CSR	p. 273
Restructuring Strategy and Policy in CSIGC	p. 281
Spin-off of Social Assets: Yangtze Chemical Plant Experience	p. 291
Introduction	p. 291
Theoretical Background: Divesture of Social Assets from Core Business	p. 292
Spinning off Social Assets into an Independent Subsidiary	p. 293
Conclusion	p. 297
References	p. 298
Conclusion and Implications	p. 301
Summary	p. 301
Conclusion	p. 302
Attitudes of Managers Toward CSR	p. 302
Socially Responsible Restructuring and Firm's Performance	p. 303
Balancing Economic and Social Value in Defense Industry Restructuring	p. 304
Implications	p. 305
Directions for Future Research	p. 306
References	p. 307
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Corporate Social Responsibility, Corporate Restructuring and Firm's Performance

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