Corporate Social Responsibility, Corporate Restructuring and Firm's Performance
In today’s globalized and competitive business environment, companies increasingly look to restructuring, mergers & acquisitions and downsizing to survive, grow and maximize profits. However, when they are not managed in a socially responsible manner,
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Corporate Social Responsibility, Corporate Restructuring and Firm’s Performance Empirical Evidence from Chinese Enterprises
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Corporate Social Responsibility, Corporate Restructuring and Firm’s Performance
Liangrong Zu
Corporate Social Responsibility, Corporate Restructuring and Firm’s Performance Empirical Evidence from Chinese Enterprises
Liangrong Zu Senior Programme Officer International Training Centre of the ILO Viale Maestri del Lavoro, 10 Turin, 10127 Italy [email protected]
ISBN 978-3-540-70895-7
e-ISBN 978-3-540-70896-4
Library of Congress Control Number: 2008932113 © 2009 Springer-Verlag Berlin Heidelberg This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permissions for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: WMX Design GmbH, Heidelberg Printed on acid-free paper 9 8 7 6 5 4 3 2 1 springer.com
Foreword
In a globalized and turbulent market environment, restructuring (through downsizing) is often the first resort of companies seeking to maintain viability and competitiveness. Unfortunately, it has led millions of employees to lose their jobs or struggle with increased job insecurity and heightened stress. Furthermore, tens of millions of people within their families and communities where enterprises operate have also been affected directly and indirectly by the dislocation. This raises concerns not only for the employees but also for other stakeholders, as the wrenching changes can generate a serious economic, social, and even political crisis in the community. National labor laws, in particular those based on international labor standards, aim to protect workers. However, in many countries their implementation is limited by a labor inspection system which lacks resources. This is why, from a pragmatic point of view, it is essential that both public authorities and business show a sense of corporate social responsibility (CSR), and act in a socially responsible way. Companies are increasingly required to rethink their roles and responsibilities, in relation not only to their shareholders but also to the needs and expectations of all their stakeholders, including employees, customers, and community. CSR, as defined by the World Business Council for Sustainable Development (WBCSD), is a continuing commitment by business to behave ethically
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