Best Calcium Supplement

post Prowein Companies - CSR, Corporate Governance, Reputation and Satisfaction Customer

Ideas and Studies

Last Wednesday I received the magnificent news that my second academic article will see the light. This time in Castilian, in an academic journal called "Journal of Social Responsibility" published by the foundation Luis Vives. The same, which will be released in April and can be read both in print and digital version for free upon registration on the web, is a sneak preview of my doctoral thesis.

ever

As I stated in this blog, the purpose of my study is to analyze whether those companies that do things right, they behave as corporate citizens and manage their impacts, not only economic but also social and environmental, obtain better results. In the magazine article Luis Vives, I have focused on analyzing whether the corporate governance practices, including within a CSR strategy, affect the reputation and consumer satisfaction. It has done a study on the correlation, not causation, which I leave for my thesis. The companies analyzed are the major automotive and cover 85% of world production.

few years ago, discussions about corporate governance practices concerned the theory of the Agency. It was developed by Coase posited that, as a result of the increasing fragmentation of shareholdings in modern companies, the property, ie, the shareholders had given way to a professional class responsible for executive management. These executives were, according to Coase, the main actors (shareholders), but were tempted to act opportunistically to meet their interests first even at the expense of the owners. To align the interests of agents and principals, shareholders must incur a series of costs (agency costs) that detraían part of corporate profit.

Today is not that the agency theory is not in force, but has broadened its view. Revisions of new authors, mostly from the Theory of Stakholders Edward Freeman, asserts that managers act as agents, not only shareholders, but of all stakeholders of a company, because all are affected by the success or failure of it. In that sense today, when we speak of good governance must take into consideration some of the conclusions of the Committee on Banking Supervision 1999. In the same was said that corporate governance tools should be used for boards and managers take into consideration the interests of recognized stakeholders. This is not to say that we should put aside the objective of profitability and profit, but the recognition that the company is moving in a network economy in which adversarial relations must be transformed into relations of cooperation (win - win) to ensure business success. In this sense corporate governance tools should be used for the organs of control and management of a company make decisions that will enable it to achieve social legitimacy in their performance by improving communication between the company and its stakeholders.

The question is to what extent this is still well in practice. When we read cases like WorldCom, Parmalat, Lehman Brothers and Enron, for example, we can only conclude the extent to which management tools are being used to create value for stakeholders. Investors in these companies were affected, but also the suppliers who were left without charge, customers were left without product and workers lost their jobs. Scandals tarnish the image of the company, including its share price. Just ask a BP after discharge into the Gulf of Mexico . Has even trigger boycotts like the one Intermon - Oxfam launched a global attack Starbuck's in his day.

Therefore, the item will be released in April is to analyze the relationship between various corporate governance practices conducted automotive companies and their impact on the reputation of a company and consumer satisfaction. Have been studied in detail the various initiatives taken by BMW, Daimler - Mercedes, Fiat, Renault, Ford, Nissan, Volkswagen, General Motors, Mazda, Toyota, Honda, Hyundai, Subaru, Mitsubishi and Suzuki in corporate governance.

More specifically analyzed during the years 2005, 2006, 2007 y 2008 las llamadas “Prácticas del Consejo” (existencia de consejeros independientes, la separación o no de las figuras del Director General y el Presidente del Consejo de Administración y sus implicaciones, así como las prácticas de remuneración de los directivos y consejeros). Se han examinado a su vez las prácticas contra la Corrupción y los Sobornos, la existencia de Códigos Éticos, la Capacidad de respuesta  ante determinados escándalos, la Transparencia de la compañía en su comunicación con el entorno, los Donativos a partidos políticos, la  Responsabilidad ante los Stakeholders a nivel de Consejo, la Gestión del Riesgo y la Presencia Women on the council. From the different tests, we have obtained a score for each company and for each year.

corporate reputation is linked to the perception that different external stakeholders to a company have about the same. Reputation is an intangible, inimitable and almost impossible to replicate in the short term, being, therefore, the source of many competitive advantages. CSR can influence the formation of a reputation as numerous studies have shown. And good governance practices fit within the concept of CSR. Is there a relationship between corporate governance practices and reputation of a company?

Consumer satisfaction is related to the overall evaluation of the experience of purchasing and consumption of a product by the consumer over time. Expectations is a process and contrasts. The consumer, based on their prior experience, word of mouth, advertising the company and their own mental constructs creates an evaluative framework against which it will then compare the result of the product purchased. It is for this reason that the reputation, even CSR initiatives can generate a positive evaluative context by encouraging the identification of consumer customer with the company. Are they related to corporate governance practices in customer satisfaction in the automotive sector? There a link between a company's reputation and customer satisfaction?

So all this is the article. The answers to the questions leave them for when you leave it, but I anticipate that there are at least interesting results. Gradually we move forward. From all this we will give in on this blog.