IDEAS home Printed from https://ideas.repec.org/a/wly/corsem/v16y2009i5p278-288.html
   My bibliography  Save this article

Facilitators and impediments for socially responsible investment: a study of Hong Kong

Author

Listed:
  • Emma Sjöström
  • Richard Welford

Abstract

Through the practice of socially responsible investment (SRI), shareholders are involved in influencing corporations with regard to their social and environmental responsibilities. This paper focuses on SRI in one of the world's most prominent financial centers, Hong Kong. It explores why the role of SRI as a way of influencing corporate social responsibility in Hong Kong is limited. The study finds that many of the aspects that have facilitated SRI in North America and Europe are not in place in Hong Kong, and gives examples of such factors. It also suggests that the institutional logic that dominates Hong Kong's corporate and financial sectors has not been receptive to the logic that underlies environmental protection and social justice, and that this is an impediment to SRI to gain a foothold in Hong Kong and the Asian region more generally. Copyright © 2009 John Wiley & Sons, Ltd and ERP Environment.

Suggested Citation

  • Emma Sjöström & Richard Welford, 2009. "Facilitators and impediments for socially responsible investment: a study of Hong Kong," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 16(5), pages 278-288, September.
    • Handle: RePEc:wly:corsem:v:16:y:2009:i:5:p:278-288
    DOI: 10.1002/csr.210
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/csr.210
    Download Restriction: no
    File URL: https://libkey.io/10.1002/csr.210?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Richard Welford & Stephen Frost, 2006. "Corporate social responsibility in Asian supply chains," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 13(3), pages 166-176, July.
    2. Jill Frances Solomon & Aris Solomon, 2006. "Private social, ethical and environmental disclosure," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 19(4), pages 564-591, July.
    3. Jin, Henry Hongbo & Mitchell, Olivia S. & Piggott, John, 2006. "Socially responsible investment in Japanese pensions," Pacific-Basin Finance Journal, Elsevier, vol. 14(5), pages 427-438, November.
    4. Jason Chi‐hin Chan & Richard Welford, 2005. "Assessing corporate environmental risk in China: an evaluation of reporting activities of Hong Kong listed enterprises," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 12(2), pages 88-104, June.
    5. Aris Solomon & Jill Solomon & Megumi Suto, 2004. "Can the UK Experience Provide Lessons for the Evolution of SRI in Japan?," Corporate Governance: An International Review, Wiley Blackwell, vol. 12(4), pages 552-566, October.
    6. Richard Welford, 2007. "Corporate governance and corporate social responsibility: issues for Asia," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 14(1), pages 42-51, February.
    7. Bauer, Rob & Otten, Roger & Rad, Alireza Tourani, 2006. "Ethical investing in Australia: Is there a financial penalty?," Pacific-Basin Finance Journal, Elsevier, vol. 14(1), pages 33-48, January.
    8. Jonathan Hills & Richard Welford, 2006. "Case study: auditing for human rights: Freeport‐McMoRan Copper and Gold in Papua," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 13(2), pages 108-114, May.
    9. Amalric, Franck, 2006. "Pension funds, corporate responsibility and sustainability," Ecological Economics, Elsevier, vol. 59(4), pages 440-450, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Estapé-Dubreuil, Glòria & Ashta, Arvind & Hédou, Jean-Pierre, 2016. "Micro-equity for sustainable development: Selection, monitoring and exit strategies of micro-angels," Ecological Economics, Elsevier, vol. 130(C), pages 117-129.
    2. Sora Kim & Yingru Ji, 2017. "Chinese Consumers' Expectations of Corporate Communication on CSR and Sustainability," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 24(6), pages 570-588, November.
    3. Kar Yee Lo & Calvin Lee Kwan, 2017. "The Effect of Environmental, Social, Governance and Sustainability Initiatives on Stock Value – Examining Market Response to Initiatives Undertaken by Listed Companies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 24(6), pages 606-619, November.
    4. Michelle Man Suet Law & Peter Hills & Billy Chi Hang Hau, 2017. "Engaging Employees in Sustainable Development – a Case Study of Environmental Education and Awareness Training in Hong Kong," Business Strategy and the Environment, Wiley Blackwell, vol. 26(1), pages 84-97, January.
    5. Wang, Ye & Liu, Xufeng & Wan, Die, 2023. "Stock market openness and ESG performance: Evidence from Shanghai-Hong Kong connect program," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 1306-1319.
    6. Meng‐Feng Yen & Yung‐Ming Shiu & Chi‐Feng Wang, 2019. "Socially responsible investment returns and news: Evidence from Asia," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1565-1578, November.
    7. Vítor Manuel de Sousa Gabriel & David Rodeiro‐Pazos, 2018. "Do Short‐ and Long‐Term Environmental Investments Follow the Same Path?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(1), pages 14-28, January.
    8. Chitra Sriyani De Silva Lokuwaduge & Kumudini Heenetigala, 2017. "Integrating Environmental, Social and Governance (ESG) Disclosure for a Sustainable Development: An Australian Study," Business Strategy and the Environment, Wiley Blackwell, vol. 26(4), pages 438-450, May.
    9. Ulf Richter, 2011. "Drivers of Change: A Multiple-Case Study on the Process of Institutionalization of Corporate Responsibility Among Three Multinational Companies," Journal of Business Ethics, Springer, vol. 102(2), pages 261-279, August.
    10. Alberto Romolini & Silvia Fissi & Elena Gori, 2014. "Scoring CSR Reporting in Listed Companies – Evidence from Italian Best Practices," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 21(2), pages 65-81, March.
    11. Peter Dobers & Minna Halme, 2009. "Corporate social responsibility and developing countries," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 16(5), pages 237-249, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bert Scholtens & Feng‐Ching Kang, 2013. "Corporate Social Responsibility and Earnings Management: Evidence from Asian Economies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 20(2), pages 95-112, March.
    2. Ye Sang & Eunkyoung Han, 2023. "A win‐win way for corporate and stakeholders to achieve sustainable development: Corporate social responsibility value co‐creation scale development and validation," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1177-1190, May.
    3. Jose‐Manuel Prado‐Lorenzo & Isabel Gallego‐Alvarez & Isabel M. Garcia‐Sanchez, 2009. "Stakeholder engagement and corporate social responsibility reporting: the ownership structure effect," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 16(2), pages 94-107, March.
    4. Nakai, Miwa & Yamaguchi, Keiko & Takeuchi, Kenji, 2016. "Can SRI funds better resist global financial crisis? Evidence from Japan," International Review of Financial Analysis, Elsevier, vol. 48(C), pages 12-20.
    5. Ali M. Shahzad & Matthew A. Rutherford & Mark P. Sharfman, 2016. "Stakeholder‐Centric Governance and Corporate Social Performance: A Cross‐National Study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 23(2), pages 100-112, March.
    6. Jin, Henry Hongbo & Mitchell, Olivia S. & Piggott, John, 2006. "Socially responsible investment in Japanese pensions," Pacific-Basin Finance Journal, Elsevier, vol. 14(5), pages 427-438, November.
    7. J. Emil Morhardt, 2010. "Corporate social responsibility and sustainability reporting on the Internet," Business Strategy and the Environment, Wiley Blackwell, vol. 19(7), pages 436-452, November.
    8. Alda, Mercedes, 2017. "The abilities of managers in UK pension funds. Are socially responsible managers superior?," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
    9. Estapé-Dubreuil, Glòria & Ashta, Arvind & Hédou, Jean-Pierre, 2016. "Micro-equity for sustainable development: Selection, monitoring and exit strategies of micro-angels," Ecological Economics, Elsevier, vol. 130(C), pages 117-129.
    10. Alan Wong & Fu Long & S. Elankumaran, 2010. "Business students' perception of corporate social responsibility: the United States, China, and India," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 17(5), pages 299-310, September.
    11. Céline Louche & Kyoko Sakuma, 2008. "Socially Responsible Investment in Japan: Its Mechanism and Drivers," Post-Print hal-01098061, HAL.
    12. Andrew Ngawenja Mzembe & Adam Lindgreen & François Maon & Joëlle Vanhamme, 2016. "Investigating the Drivers of Corporate Social Responsibility in the Global Tea Supply Chain: A Case Study of Eastern Produce Limited in Malawi," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 23(3), pages 165-178, May.
    13. Vassili Joannides & N. Berland, 2008. "Grounded theory: quels usages dans les recherches en contrôle de gestion?," Grenoble Ecole de Management (Post-Print) hal-00676580, HAL.
    14. Ciciretti, Rocco & Dalò, Ambrogio & Dam, Lammertjan, 2023. "The contributions of betas versus characteristics to the ESG premium," Journal of Empirical Finance, Elsevier, vol. 71(C), pages 104-124.
    15. Alexander Dahlsrud, 2008. "How corporate social responsibility is defined: an analysis of 37 definitions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 15(1), pages 1-13, January.
    16. Fu Jia & Yan Jiang, 2018. "Sustainable Global Sourcing: A Systematic Literature Review and Bibliometric Analysis," Sustainability, MDPI, vol. 10(3), pages 1-26, February.
    17. Rosalia Diaz‐Carrion & Macarena López‐Fernández & Pedro M. Romero‐Fernandez, 2020. "Sustainable human resource management and employee engagement: A holistic assessment instrument," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(4), pages 1749-1760, July.
    18. Walter J.V. Vermeulen, 2015. "Self‐Governance for Sustainable Global Supply Chains: Can it Deliver the Impacts Needed?," Business Strategy and the Environment, Wiley Blackwell, vol. 24(2), pages 73-85, February.
    19. Rosa Lombardi & Simone Manfredi & Benedetta Cuozzo & Matteo Palmaccio, 2020. "The profitable relationship among corporate social responsibility and human resource management: A new sustainable key factor," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(6), pages 2657-2667, November.
    20. Céline Louche & Daniel Arenas & Katinka Cranenburgh, 2012. "From Preaching to Investing: Attitudes of Religious Organisations Towards Responsible Investment," Journal of Business Ethics, Springer, vol. 110(3), pages 301-320, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:corsem:v:16:y:2009:i:5:p:278-288. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1535-3966 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.