Corporate Social Responsibility, Corporate Restructuring and by L Zu

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Additional resources for Corporate Social Responsibility, Corporate Restructuring and Firm's Performance - Empirical Evidence from Chinese Enterprises

Example text

Creditors load money and collect payments of interests. Employees contribute their skills and knowledge in exchange for wages, benefits and the opportunity for personal satisfaction and professional development. In return for payment, suppliers provide raw materials, energy, services, and other inputs; and wholesalers, distributors and retailers engage in market transactions with firm as they move the product from plant to sales outlets to customers. All businesses need customers who are willing to buy their products or services.

Ironically, specification of CSR for each stakeholder relation has resulted in broadening of the meaning and scope of CSR. Instead of one aggregate category of social responsibility, the stakeholder framework induced creation of many new categories of CSR to reflect the wide range of stakeholder relations and interests. With the creation of more and more categories of CSR, such as environmental responsibility, diversity, affirmative action and transparent accounting practices, the meaning of CSR was expanded to account for the new categories as well as new stakeholder relations.

Cornell, B. and A. Shapiro (1987), “Corporate Stakeholders and Corporate Finance,” Financial Management, (16), 5–14. Ding, X. L. (2000), “The Illicit Asset Stripping of Chinese State Firms,” China Journal, 43 (January), 1–28. Lee, C. K. (1999), “From Organized Dependence to Disorganized Despotism: Changing Labor Regimes in Chinese Factories,” China Quarterly, 157(3), 44–71. Li, M. (2004), “Aggregate Demand, Productivity, and “Disguised Unemployment” in the Chinese Industrial Sector∗ 1,” World Development, 32(3), 409–25.

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