Description
Book SynopsisAsks whether profit maximization and the generation of value for shareholders is compatible with policies that support social and environmental goals. This book presents an examination of how social and environmental performance affects a corporation's profitability and how the stock market reacts to a firm's social and environmental behavior.
Trade ReviewGeoffrey Heal's scholarly work on environmental economics, the role of the state in economic life, and other contributions to economic analysis have been of great importance and wide reputation. He has now prepared a widely accessible yet careful and responsible study of the extent to which corporations can profit by adherence to socially valuable norms. The exposition makes no assumption of specialized knowledge yet fully reflects and imparts the soundest economic analysis. -- Ken Arrow, Stanford University When Principles Pay is a must read for anyone wanting to understand the corporate world's involvement in environmental and social issues. Geoffrey Heal argues convincingly that the corporation's long term self interest requires that it pay attention to the environmental and social impacts of its operation. Heal makes the argument that the involvement in the world of sustainability is no longer a question of if, but when. One will find his discussion of outsourcing enlightening. -- Alan Hassenfeld, chairman of the board, Hasbro, Inc. Among this book's strengths is its timeliness: CSR and corporate behavior are very much in the forefront of popular and policy attention. Also, by resting the discussion on a solid economic foundation, the author helps the reader understand what CSR is and why it occurs. When Principles Pay is accessible and understandable to a reader even with no background in economics or finance. -- Robert Repetto, Yale School of Forestry and Environmental Studies With clarity and insight, Geoffrey Heal writes a refreshingly jargon-free treatment of CSR. I found his volume a pleasure to read, and though it will be of interest to a wide range of readers, I recommend it particularly to corporate executives and their non-executive directors, who will find it well worth their while. -- Lord Ronald Oxburgh, former Chairman of The Shell Transport and Trading Company, and member of the House of Lords, UK Readers conversant in economics will find a wealth of fascinating analysis. Publishers Weekly
Table of ContentsPreface 1. Introduction 2. Social, Environmental, and Financial Performance 3. Socially Responsible Investment 4. Fincancial Institutions and Social and Environmental Factors 5. Pharmaceuticals and Corporate Responsibility 6. Wal-Mart and Starbucks 7. Interface and Monsanto 8. Outsourcing 9. Getting Rich by Selling to the Poor 10. Cell Phones and Development 11. Measuring Corporate Responsibility 12. Social and Environmental Policies and Corporate Strategy 13. Conclusions Notes Index
