Sarah D. Stanwick

The Relationship Between Corporate Social Performance, and Organizational Size, Financial Performance, and Environmental Performance: An Empirical Examination

The purpose of this study is to examine the relationship between the corporate social performance of an organization and three variables: the size of the organization, the financial performance of the organization, and the environmental performance of the organization. By empirically testing data from 1987 to 1992, the results of the study show that a firms corporate social performance is indeed impacted by the size of the firm, the level of profitability of the firm, and the amount of pollution emissions released by the firm.

The relationship between environmental disclosures and financial performance: an empirical study of US firms

The purpose of this study is to examine the current practices of relatively large corporations concerning the relationship between environmental disclosures and financial performance. An examination of 469 firms listed in the 1994 Forbes 500 was conducted. The results showed that firms classified as high financial performers had higher incidences of environmental policies and/or descriptions of environmental commitment than firms classified as low performers. Firms classified as medium financial performers had the highest incidences of firm environmental policies and/or a description of their environmental commitment. Copyright

CEO and ethical reputation: visionary or mercenary?

This study examines the relationship between ethical reputation, CEO compensation and firm performance for the top corporate citizens as rated by Business Ethics magazine. The results show that there was not a direct relationship between CEO compensation and firm performance, that a high level of CEO compensation combined with a high ethical reputation did not impact the financial performance of the firm, and firms with a high ethical reputation had only average financial results, while firms with low ethical reputations displayed both high and low financial performance. Furthermore, CEOs of unfirms had, on average, higher compensation levels than firms that were profitable. These findings bring useful inputs for CEO on how they can justify high levels of compensation even during periods when the firm is not profitable or has a low level of profitability. An interesting sidelight of the study is that three CEOs in the sample whose firms were profitable did not accept any compensation during 2002, probably because the financial performance was below expectations.

A descriptive analysis of environmental disclosures: A study of the US Chemical Industry

An empirical study was conducted to examine the nature of environmental disclosures of 29 firms in the chemical industry. From the examination of over 3700 disclosures, the results show that the type of disclosures presented across firms and across industries varied based on a number of factors. The disclosures were analyzed based on medium, focus, channel of communication, time span, subject and environmental regulation. The results showed that the majority of the disclosures were found in the press, presented current environmental issues, were non-technical in nature, were qualitative in nature and dealt with pollution and environmental expenditure issues.

Fair value accounting: A guide to understanding the current standards

Will all financial assets and liabilities soon be measured at fair value?

Protecting your company with a comprehensive code of ethics

The SEC and others have begun a crackdown on unethical corporate behavior. To protect your company, its time to think about setting up a comprehensive code of ethics.

Using OSHA's Voluntary Protection Program to improve financial performance

Many companies are reducing costs by adopting OSHAs Voluntary Protection Program (VPP). The authors explain VPP, give examples of benefits to companies, and discuss how to apply for the program.© 1998 John Wiley & Sons, Inc.

How wellness programs can boost the bottom line through employee involvement

More and more firms are adopting health promotion programs. They reduce costs, and increase employee productivity. The authors review the types of programs companies are offering, discuss the pros and cons, and note some of the best programs available today. They also offer helpful advice for implementing a wellness program. ©1999 John Wiley & Sons, Inc.

How to choose the right environmental accounting software

Complying with environmental regulations will continue to be a major concern as we approach the 21st century. Most companies try to use their existing software to track environmental costs. But with the cost of environmental penalties rising, that may he a mistake. The authors show how to select more specialized software that helps you improve compliance—and lowers the risk of expensive penalties.

A financial officer's guide to understanding wetlands regulations

Companies often face wetlands issues in buying land, developing it, or as a result of mergers. Wetlands regulations also can have a more widespread impact on auditing and financial reporting than many companies realize. The authors explain why wetlands regulations are important, what regulations are, and the CFOs role in addressing wetlands issues.