Corporate Social Responsibility a Value Adding Business...

CSR Corporate Social Responsibility: A Value Adding Business Function Prepared by: Randeep Moore Student ID: 301064174 BUS 421: Kim Trottier Abstract This paper examines the similarities and findings of three academic papers related to Corporate Social Responsibility (CSR) in accounting. Assumptions are made regarding the importance of CSR to the success of businesses. By looking at three different pieces of literature from the accounting field, there is strong evidence that suggests CSR can be considered an important business function that contributes to profitability. Furthermore, branches of CSR such as Social and Environmental Accounting (SEA) and Greenhouse Gas (GHG) emissions disclosure play important roles in†¦show more content†¦110). Increasing amounts of social accounting is leading to concepts like CSR and SEA becoming an integral part of the profitability of a business. With this increase, Brown and Fraser (2006) indicate that these initiatives can be viewed as ideological weapons, but corporations are also susceptible to â€Å"the corporate strategy of weakening national and international environmental agr eements while promoting voluntary measures† (Brown and Fraser, 2006, p. 111). This is known as deep greenwash, and those who follow this strategy are doing so strictly for business reasons. The goal is to attain some type of benefits that are only available through social accounting. Based on the three approaches, it is evident that CSR is a critical factor for businesses to consider if profitability is desired. Griffin et al (2010) tracked 1400 instances of firms that filed formal notices with the US Securities and Exchange Commission and issued press releases around events that could impact climate change. In the stock price analysis, the authors found â€Å"that greenhouse gas emission levels associate negatively with stock price, and that the negative relation between emissions and price is more pronounced for carbon-intensive companies† (Griffin et al, 2010, p. 36). Griffin et al (2010) also found that markets responded almost immediately as such events were repor ted with stock values adjusting on the sameShow MoreRelatedA New Strategy for Kodak Essay1675 Words   |  7 Pagesoperational, financial, human resource aspects of the business. Next, argue that each of the established objectives is essential to the success of the company within the Cloud service industry. Kodak is one of the many companies that has succumbed to a disruptive technology some call the digital divide. They recently came out of chapter 11 bankruptcy, which allowed them to restructure the organization. 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