When Principles Pay: Corporate Social Responsibility and the Bottom Line

Hardcover (Print)
Buy New
Buy New from BN.com
$26.13
Buy Used
Buy Used from BN.com
$19.76
(Save 34%)
Item is in good condition but packaging may have signs of shelf wear/aging or torn packaging.
Condition: Used – Good details
Used and New from Other Sellers
Used and New from Other Sellers
from $1.99
Usually ships in 1-2 business days
(Save 93%)
Other sellers (Hardcover)
  • All (24) from $1.99   
  • New (6) from $25.27   
  • Used (18) from $1.99   

Overview

Stories of predatory lending practices and the reckless destruction of the environment by greedy corporations dominate the news, suggesting that, in business, ethics and profit are incompatible pursuits. Yet some of the worst lenders are now bankrupt, and Toyota has enjoyed phenomenal success by positioning itself as the green car company par excellence. These trends suggest that antisocial corporate behavior has its costs, especially in terms of the stock market, which penalizes companies that have poor environmental track records and rewards more socially conscious brands.

The political context of our economy is rapidly changing, particularly in regard to incentives that operate outside the marketplace in a strict and narrow sense and involve interactions between corporations and nongovernmental organizations (NGOs), activist groups, regulatory bodies, consumers, and civil society. These interactions can significantly color a corporation's alternatives, making socially or environmentally harmful behavior much less attractive. British Petroleum, for example, has voluntarily reduced its greenhouse gas emissions over the past ten years, Starbucks, has changed the environmental impact of its coffee production, and Nike and other footwear and textile makers now monitor the labor conditions of their subcontractors.

When Principles Pay jumps headfirst into this engaging and vital issue, asking whether profit maximization and the generation of value for shareholders is compatible with policies that support social and environmental goals. Geoffrey Heal presents a comprehensive 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. He looks at socially responsible investment (SRI), reviewing the evolution of the SRI industry and the quality of its returns. He also draws on studies conducted in a wide range of industries, from financials and pharmaceuticals to Wal-Mart and Monsanto, and focuses on the actions of corporations in poor countries. In conclusion, Heal analyzes how social and environmental performance fits into accounting and corporate strategy, presenting an executive perspective on the best way to develop and implement these aspects of a corporation's behavior.

Columbia University Press

Read More Show Less

Editorial Reviews

Ken Arrow

Geoffrey 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.

Alan Hassenfeld

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.

Robert Repetto

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.

Lord Ronald Oxburgh

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.

Publishers Weekly

Although even a cursory glance at a newspaper reveals some new incident of corporate malfeasance-predatory lending, shady deals between private defense contractors and the government, industrial pollution-Columbia Business School professor Heal argues that "there is a cost to anti-social corporate behavior." Heal points out that the most pernicious lenders have gone bankrupt; a defense contractor executive has been fired; and corporations can generate higher profits and more social good if they can align their interests with society The book presents case studies of corporations "doing well by doing good" (Toyota, British Petroleum, Starbucks) and surprisingly diverse and effective economic incentives for business people and organizations to act responsibly. Useful sections delineate the challenges-and rewards-of ethical outsourcing and clarify the important distinctions between genuine social responsibility and the public relations techniques that masquerade as philanthropy. Readers conversant in economics will find a wealth of fascinating analysis, whether or not they agree with the author's optimistic middle ground between unfettered capitalism and intrusive regulation. (May)

Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Read More Show Less

Product Details

  • ISBN-13: 9780231144001
  • Publisher: Columbia University Press
  • Publication date: 3/26/2008
  • Series: Columbia Business School Publishing Series
  • Edition description: New Edition
  • Pages: 288
  • Product dimensions: 5.90 (w) x 9.10 (h) x 1.00 (d)

Meet the Author

Born in Bangor, North Wales, Geoffrey Heal has lived on three continents and combines a life-long interest in nature with a fascination with the details of how societies work. He is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Columbia Business School. His research and practical experiences range from technical aspects of financial markets to understanding the economic consequences of species extinction, and one of his main concerns is the effect that societies have on their natural resource bases. A past president of the Association of Environmental and Resource Economists and a director of the union of Concerned Scientists, Heal is the author of many scientific articles and books, including Valuing the Future: Economic Theory and Sustainability and Nature and the Marketplace.

Columbia University Press

Read More Show Less

Table of Contents

Introduction1- Social, Environmental, and Financial Performance2- Socially Responsible Investment3- Fincancial Institutions and Social and Environmental Factors4- Pharmaceuticals and Corporate Responsibility5- Wal-Mart and Starbucks6- Interface and Monsanto 7- Outsourcing8- Getting Rich by Selling to the Poor9- Cell Phones and development10- Measuring Corporate Responsibility11- Social and Environmental Policies and Corporate StrategyConclusions

Columbia University Press

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)