...A Developing Country Perspective of Corporate Social Responsibility: A Test Case of Bangladesh Ali Quazi, The University of Newcastle Ziaur Rahman, IITM, Bangladesh Byron Keating, University of Wollongong Abstract The ‘social contract’ between the corporation and the community is of critical importance. The motivations for these contracts are continuously being revisited to understand how CSR programs can nurture and contribute to the growth of firms. While CSR issues are attracting a great deal of attention in the developed world, there is a need for more research into CSR in the developing world. This paper considers the CSR practices of a small sample of multinational corporations (MNCs) and local firms in Bangladesh to better understand this situation. Introduction Corporate social responsibility (CSR) has generated significant debate in academic and corporate circles in recent times. This debate acknowledges the importance of CSR in the first-world, but raises questions regarding the extent to which corporations operating in developing countries have CSR obligations (Jamali and Mirshak, 2007). Conventional wisdom suggests that CSR is more relevant to corporations operating in the developed countries due to elevated community expectations of socially responsible behaviour. In contrast there is also a belief that societal expectations in the developing countries mainly centre on economic growth; therefore relegating CSR to be of lesser importance to the society and...
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...Green Banking Initiative: Opportunities for Bangladesh Dr. S M Ahsan Habib Professor and Director (Training & Research), BIBM The paper was presented at a seminar on Green Banking at BIBM on October 14, 2010 Green Banking Initiative: Opportunities for Bangladesh I. Introduction Banks that were once seen only as profit motive institutions have been adjusting to a more demanding market and to a more conscious society over last two decades. An increasing number of banks around the world are going green by providing innovative green products that cover financial services to support the activities that are not hazardous to environment and help conserve environment. A green bank is also called an ethical bank, a socially responsible bank, or a sustainable bank. The exact meaning of all these titles may not be same however they cover a lot of common activities and perceptions. At least, all these banks- in various ways and at different times- have engaged themselves in making a better future (Merzio 2007). The approach to green banking (GB) varies from bank to bank, however, broad objectives of green banks are to use their resources with responsibility avoiding waste and giving priority to environment and society. The public concern of the state of environment has been growing significantly in the last few years, mostly due to apparently unusual weather patterns, rising greenhouse gases, declining...
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...characteristics on corporate social responsibility disclosure by Islamic banks: evidence from Gulf Cooperation Council countries Abdullah Awadh Bukair and Azhar Abdul Rahman Abstract Corporate social activities have become major subjects because of their effects on the quality life of citizens, in particular, and on the society at large. Therefore, today, there is an increase awareness of social responsibility due to the challenges meeting the financial institutions (particularly, Islamic banking) around the world. This paper examines the influence of the board of directors’ characteristics, consisting of board size, board composition, and the separation roles of CEO and chairman, on corporate social responsibility (CSR) disclosure in 53 annual reports of Islamic banks of Gulf Cooperation Council (GCC) countries after controlling of bank size, financial performance and relevant public. Based on the framework of legitimacy theory, the findings show that CSR disclosure has a negative and insignificant relationship with board composition. On contrast, the study found insignificantly and positive association between CSR disclosure and other characteristics of board of directors (board size and the separation roles of CEO and chairman). With regards control variables, the study indicates that bank size and financial performance have a positive and significant influence on CSR disclosure, while relevant public has no effect. Therefore, the results indicate that corporate governance structure...
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...CORPORATE SOCIAL RESPONSIBILITY IN BANGLADESH: PRACTICE AND PERPETUITY Promoting Safety, Enforcing Rights Corporate Social Responsibility in Bangladesh: Practice and Perpetuity Supported by Published by Promoting Safety, Enforcing Rights Corporate Social Responsibility in Bangladesh: Practice and Perpetuity Researcher Rumana Sobhan Porag Safety and Rights Society Published by Safety and Rights Society 14/23 Babor Road (4th floor) Block B, Mohamadput Dhaka 1207 Tel: +88 02 - 9119903-4 Mobile: +88- 01193 200207, +88- 01191 797414 www.safetyandrights.org info@safetyandrights.org Date of Publication January, 2014 Copyright Safety & Rights Society Printed by Chowdhury Printers and Supply 48/A/ Badda Nagar, B.D.R. Gate No. 1 Pilkhana, Dhaka-1205 ISBN : 978-984-33-6453-1 2 ACKNOWLEDGEMENTS We wish to express our appreciation to the following individuals and organisations, without whose support this research would not be possible to accomplish. Our appreciation goes to the business leaders who provided their valuable time in sharing their views and CSR practices, and for the in-depth discussions on the current situation and ways and means of improving CSR practice in Bangladesh. We were encouraged by the enthusiasm shown by the private sector and their willingness to meet with us and share their experience, often at very short notice. Without the support from these leaders, our study would not have been possible. We would...
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...UNIVERSITY OF DHAKA CORPORATE GOVERNANCE PRACTICE OF BRITISH AMERICAN TOBACCO, BANGLADESH LTD. JULY’ 2012 NAHID RIJWAN ID# 3-09-17-033 University of Dhaka Department of Management Studies MBA (Evening Program) Summer, 2012 Term Paper Course Title Course code Corporate Governance & Diplomacy EM 557 Course Teacher Md. Mesbah Uddin Topic Term Paper: Corporate Governance Practice of British American Tobacco, Bangladesh Ltd. 29- 07- 2012 Date Submitted by Name Nahid Rijwan Roll 3-09-17-033 CONTENTS Topic CHAPTER – 1 About British American Tobacco Bangladesh Business Principles of BAT, Bangladesh Standards of Business Conduct of BAT, Bangladesh: CHAPTER – 2 Corporate Governance Statement Board of Directors of BAT Bangladesh and Their Roles Relationship with Shareholders Accountability and Audit Compliance with Legal Requirements Employees Standards of Business Conduct CHAPTER -3 Corporate Social Responsibility Statement Probaho Socially Responsible Tobacco Production (SRTP) Deepto Afforestation CHAPTER - 4 Auditor’s Report to The Shareholders 16 12 12 13 14 15 6 7 9 10 10 10 11 1 2 3 Page CHAPTER - 5 Comparative Analysis of Bat Bangladesh’s Corporate Governance Compliance Status of compliance with the Provisions Denoted in the Code of Corporate Governance for Bangladesh, March 2004 Status of compliance with the Conditions Imposed by the Securities & Exchange Commission's Notification 21 19 18 REFERENCES 23 ANNEXURE - I 24 ...
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...Climate Change and Corporate Environmental Responsibility Dewan Mahboob Hossain (1) Jahangir Alam Chowdhury (2) (1) Dewan Mahboob Hossain Assistant Professor Department of Accounting & Information Systems University of Dhaka, Dhaka, Bangladesh Email: dewanmahboob@univdhaka.edu (2) M. Jahangir Alam Chowdhury, PhD (Stirling, UK) Professor, Department of Finance, and Executive Director Center for Microfinance and Development University of Dhaka Dhaka - 1000, Bangladesh. Email: mjac_dubd@yahoo.com Introduction Abstract Climate change, as an international environmental issue, is getting a lot of attention. The negative effects of climate change have become one of the most talked about issues among Governments, scientists, environmentalists and others. It is said that business activities are affecting the climate negatively. In order to minimize the negative effects of climate change, the activities of the businesses should be controlled and encouraged to perform in a socially responsible manner. The article focuses on the responsibilities and the responses of businesses on climate change issues. The article first highlights on two prominent issues: Corporate Social Responsibility and Corporate Environmental Responsibility. Then the article introduces climate change as an international environmental concern. Then, by going through several published literature, the article highlights various responsibilities of business towards climate...
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...World Journal of Social Sciences Vol. 2. No. 6. September 2012 Issue. Pp. 1 – 13 Practice of Corporate Social Responsibility in Islamic Banks of Bangladesh Quazi Sagota Samina* The evolution of Shariah based profit –loss sharing centered Islamic banking, worldwide has changed the thought of financial institutions even of the developed countries in the west. On the other hand the recognition of importance of corporate social activities in the business organizations as well as in financial institutions has accelerated the significance of Islamic banks as in Islam these CSR practice have been emphasized in different ways. Likewise the Islamic financial institutions all over the world, Islamic banks in Bangladesh are also being engaged in various social activities as a part of their responsibilities. In this study it has been tried to find out whether the Islamic Banks of Bangladesh are adhering to the prescribed forms of the CSR activities or not. This paper is mainly designed based on the CSR forms to be followed by Islamic banks as has been prescribed by Farook (2007) in his study “On Corporate Social Responsibility of Islamic Financial Institutions” under the light of Islamic Shariah. The research found compliance to the mandatory forms by the 6 full fledged sample Islamic banks in Bangladesh whereas variety in involvement in recommended forms of CSR activities by considering the scenario of banks from 2007 to 2011. The study also finds a strong positive correlation between CSR...
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...Corporate social responsibility: An examination of the performance of LM Ericsson There has been no shortage of the heated discussion on the company’s social responsibility issue in the modern business world. Consumers are now becoming more sensitive and demanding to the social performance of these organizations. This social performance not only includes good mankind, but also the whole economic and environmental aspects. Since those companies operate their businesses, they must fully consider the three aspects and their code of conduct and mission statement should firmly conform to the ten principles of the UN Global Compact (see UN Global Compact 2011). Just like many multinational organizations, Ericsson has been recognized as a leading provider of telecommunications facilities and services to mobile and fixed network operators internationally. There are more than 1,000 networks allocated in 180 countries and it takes up 40 percent market share globally (Company Facts 2011). However, although Ericsson has made the great contribution to the environmental aspect such as enabling a low-carbon economy, reducing environmental impact and facilitate people to communicate around the world (Ericsson: Sustainability and Corporate Responsibility 2011), the company still has been criticized on social human right and any other issues. This paper mainly examines how the Ericsson has performed socially responsible and sustainable in relation to the Environmental aspect;...
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...Integrated reporting, which encompasses elements of traditional financial reporting, sustainability reporting, and governance reporting within a single presentation, represents a growing trend that reflects these new expectations. The core concept underlying the term “integrated reporting” is providing one report that fully integrates a company’s financial and non-financial (including environmental, social, governance and intangibles) information. Integrated reporting offers the opportunity to centre business reporting on strategy and value creation, to demonstrate how the business uses capital and the extent to which they should continue to be invested in business. Integrated reporting is a journey. Organizations are unlikely to achieve perfection in the first year. In the absence of a generally accepted framework, companies that wish to move toward integrated reporting may encounter several dilemmas around relevance, scope, assurance and other issues. However, as reporting processes for the production of the supporting information are designed and improved and as the executive team begins to benefit from a more informed implementation of the governing structures’ decision, reporting will improve. This paper considers the rationale behind the move towards Integrated Reporting, offers initial proposals for the development of an International Integrated Reporting Framework, and outlines the next steps towards its creation and adoption, including the publication of an exposure draft...
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...This article is published in a peer-reviewed section of the Utrecht Law Review Four Case Studies on Corporate Social Responsibility: Do Conflicts Affect a Company’s Corporate Social Responsibility Policy? Cristina A. Cedillo Torres, Mercedes Garcia-French, Rosemarie Hordijk, Kim Nguyen, Lana Olup* 1. Introduction 1.1. Background and objectives This article will discuss the different Corporate Social Responsibility (CSR) issues that emerged within four multinationals (Apple, Canon, Coca-Cola and Walmart). There is no clear definition of CSR. In Corporate Social Responsibility, Legal and semi-legal frameworks supporting CSR Lambooy gives an r o verview of several definitions of CSR.1 The European Commission defines CSR as ‘the esponsibility of enterprises for their impacts on society’.2 This is the definition which is the most suitable for the c ontext of the article’s research question. As this article will focus on companies from the US and Japan, the authors also provide an overview of the focus on CSR from the US and Japanese perspective. In the US there is no governmental regulation regarding CSR or business best practices. Instead, according to findings from Bennett American, companies have a marked tendency to use codes of conduct.3 The American CSR perspective could be described as following a principles-based approach, with codes of conduct that prescribe values and principles which company members as a whole should aspire to follow. ...
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...This article is published in a peer-reviewed section of the Utrecht Law Review Four Case Studies on Corporate Social Responsibility: Do Conflicts Affect a Company’s Corporate Social Responsibility Policy? Cristina A. Cedillo Torres, Mercedes Garcia-French, Rosemarie Hordijk, Kim Nguyen, Lana Olup* 1. Introduction 1.1. Background and objectives This article will discuss the different Corporate Social Responsibility (CSR) issues that emerged within four multinationals (Apple, Canon, Coca-Cola and Walmart). There is no clear definition of CSR. In Corporate Social Responsibility, Legal and semi-legal frameworks supporting CSR Lambooy gives an r o verview of several definitions of CSR.1 The European Commission defines CSR as ‘the esponsibility of enterprises for their impacts on society’.2 This is the definition which is the most suitable for the c ontext of the article’s research question. As this article will focus on companies from the US and Japan, the authors also provide an overview of the focus on CSR from the US and Japanese perspective. In the US there is no governmental regulation regarding CSR or business best practices. Instead, according to findings from Bennett American, companies have a marked tendency to use codes of conduct.3 The American CSR perspective could be described as following a principles-based approach, with codes of conduct that prescribe values and principles which company members as a whole should aspire to follow. ...
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...Misery Loves Companies: Whither Social Initiatives by Business? Joshua D. Margolis Harvard University jmargolis@hbs.edu 617-495-6444 James P. Walsh University of Michigan jpwalsh@umich.edu 734-936-2768 December 16, 2002 We want to thank Christine Oliver, our three anonymous reviewers, Paul Adler, Howard Aldrich, Alan Andreasen, Jim Austin, Charles Behling, Mary Gentile, Tom Gladwin, Morten Hansen, Stu Hart, Nien-he Hsieh, Linda Lim, Nitin Nohria, Lynn Paine, Gail Pesyna, Rob Phillips, Lance Sandelands, Debora Spar, Joe White, Richard Wolfe and the students in Jim Walsh’s “The Corporation in Society” Ph.D. seminar for their constructive comments on earlier versions of this paper. We also want to thank Marguerite Booker, John Galvin and Nichole Pelak for their helpful research assistance. The Harvard Business School, the University of Michigan Business School, and the Aspen Institute’s Initiative for Social Innovation through Business provided invaluable support for this project. Misery Loves Companies: Whither Social Initiatives by Business? Abstract Companies are increasingly being asked to provide innovative solutions to deep-seated problems of human misery. Organization and management scholarship can play an important role in understanding and guiding possible corporate responses. Theory and research to date have sought to reconcile possible corporate responses with economic premises about the purpose of the firm. Our goals in this paper are to reorient the...
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...Enriching Life Through Communication Huawei Investment & Holding Co., Ltd. Corporate Sustainability Report 2011 Report Profile Reporting Period: January 1 to December 31, 2011 Date of Most Recent Previous Report: June 2011 Reporting Cycle: Annual Defining Report Content Global Reporting Initiative (GRI) principles such as materiality, stakeholder inclusiveness, sustainability context, and completeness, were used in this report to analyze key sustainability-related issues in business operations and identify major stakeholders. Huawei Investment & Holding Co., Ltd. (hereinafter referred to as “the company” or “Huawei”) hired a third-party organization to survey stakeholders and collect information on stakeholder expectations and requirements. Huawei’s CSR Committee studied, assessed, and selected the key items and indicators disclosed in this report. The performance indicators and management approaches discussed in this report cover all entities that Huawei either has control of or a significant influence over in terms of financial and operational policies and measures. These same performance indicators and management approaches are also consistent with the scope of Huawei’s annual financial report. Report Assurance Method Core indicators and additional indicators from the GRI G3.0 Guidelines were applied to compile the report and the application level is B+. To ensure the reliability, fairness, and transparency of this report, Huawei engaged TÜV Rheinland to verify...
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...An Internship Report On Audit Procedure of UHY Syful Shamsul Alam & Co. and A Comparative Analysis on IFRS (IAS) and AAOIFI on Financial Reporting Issues Department of Finance Faculty of Business Studies University of Dhaka An Internship Report On Audit Procedure of UHY Syful Shamsul Alam & Co. and A Comparative Analysis on IFRS (IAS) and AAOIFI on Financial Reporting Issues (As partial fulfillment of BBA Program) Submitted To Department of Finance University of Dhaka Supervised By Taher Jamil Lecturer Department of Finance University of Dhaka Submitted By Md. Rased Mosarraf ID: 16-062 Department of Finance University of Dhaka Date of Submission: May 22, 2014. Letter of Transmittal May 22, 2014. Taher Jamil Lecturer Department of Finance University of Dhaka Subject: Submission of internship report. Dear Sir, I have the pleasure to submit an Internship Report after completing a successful three month Internship attachment at a CA firm named “UHY Syful Shamsul Alam & Co.” on “Audit Procedure of UHY Syful Shamsul Alam& Co. and A Comparative Analysis on IFRS (IAS) and AAOIFI on Financial Reporting Issues”. I have concentrated my best effort to achieve the objectives of the report and hope that my endeavor will serve the purpose. The practical knowledge and experience gathered during report preparation will immeasurably help in my future professional life. I will be obliged if you kindly approved this endeavor...
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...Bangladesh – German Development Cooperation PROGRESS House 10C, Road 90, Gulshan 2, Dhaka 1212, Bangladesh Tel: +880 2 9887567, Fax: +880 2 8813769 E-mail: progress@gtz.de,[->0] Websites: www.gtz.de[->1], www.gtz-progress.org[->2] Working Paper No – 6 A COMPARATIVE ANALYSIS BETWEEN THE BANGLADESH LABOR LAW 2006 AND 7 GENERAL CODES OF CONDUCT By Ameena Chowdhury Hanna Denecke Dhaka, October 21, 2007 PROGRESS (promotion of social, environmental and production standards in the ready-made garment sector) is a joint program of the Bangladesh Ministry of Commerce and the German Federal Ministry of Economic Cooperation and Development (BMZ), implemented by GTZ. Executive Summary The Readymade Garment (RMG) sector in Bangladesh is a highly export oriented sector and therefore extremely volatile to requirements of international buyers. Since the adherence to international social standards has become a mandatory requirement in the international business arena, the local suppliers have to be compliant to these standards in order to remain in business. There have been some significant revisions to the Bangladesh Labor Law in 2006. This newly revised law already covers a lot of the common standards like employment conditions, occupational health and safety issues as well as the ILO core labor standards. Besides being complaint...
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