UN Principles for Responsible Investment Signatories and the Anti-Apartheid SRI Movement: A Thought Experiment

Eccles, Neil Stuart

doi:10.1007/s10551-010-0387-3

Cited by 29 publications

(14 citation statements)

References 15 publications

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“…It is however challenging to relate management values in the sense that they are manifested in the PRI-investor relationship to how they are understood elsewhere in the literature. The PRI principles convey little or arguably no moral values per se (Eccles, 2010), while values-driven organizations as defined by Baron (2009) or Brickson (2007) take into account higher order values that are morally determined.…”

Section: Management Valuesmentioning

confidence: 99%

Sources of Stakeholder Salience in the Responsible Investment Movement: Why Do Investors Sign the Principles for Responsible Investment?

2014

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Since its inception in 2006, the United Nations backed Principles for Responsible Investment (PRI) have grown to over 1,300 signatories representing over $45 trillion. This growth is not slowing down. In this paper we argue that there is a set of attributes that make the PRI salient as a stakeholder and its claim to sign the six principles for responsible investment important to institutional investors. We use Mitchell et al.'s (1997) theoretical framework of stakeholder salience, as extended by Gifford (2010). We use as evidence confidential data from the annual survey of signatories carried out by the PRI in a five year period between 2007 and 2011. The findings highlight pragmatic and organizational legitimacy, normative and utilitarian power, and management values as the attributes that contribute most to the salience of the PRI as a stakeholder.

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Section: Management Valuesmentioning

confidence: 99%

Sources of Stakeholder Salience in the Responsible Investment Movement: Why Do Investors Sign the Principles for Responsible Investment?

2014

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“…Our contention is that it is. The basis for this contention revolves in no small measure around the launch in 2006 of the United Nations-facilitated Principles for Responsible Investment and the subsequent rise to prominence of this initiative, particularly among practitioners (Eccles 2010). This has been associated with two noteworthy shifts in the discourse.…”

Section: Introductionmentioning

confidence: 99%

“…Besides the popularisation of this name, the second noteworthy shift in the discourse, which appears to have been correlated with the Principles for Responsible Investment, has been the rise to prominence of an egoist ethical position within the genre. This rise and its consequences have been the subject of recent discussions by a number of authors including Richardson (2008, 2009), Welker and Wood (2009) and Eccles (2010.…”

Section: Introductionmentioning

confidence: 99%

The Origins and Meanings of Names Describing Investment Practices that Integrate a Consideration of ESG Issues in the Academic Literature

2011

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“…Also, the effectiveness of the divestment intervention may be questioned. In the absence of any other engagement process, divestment or screening fails to send a clear signal to managers as to what aspects of a company's environmental or social performance a shareholder is unhappy with (Eccles ). By divesting from (or not investing in) the company, investors forfeit the ability to exercise their voices as shareholders.…”

Section: Process Model For Non‐financial Shareholder Influencementioning

confidence: 99%

“…When used alone, divestment or screening interventions offer managers limited information and, therefore, have minimal impact on their decision‐making with respect to environmental or social company practices (Eccles ). While the dialogue process facilitates clear signalling from shareholders as well as managers, its confidential nature prevents us from drawing firm conclusions as to its effectiveness (Logsdon and Van Buren ).…”

Section: Process Model For Non‐financial Shareholder Influencementioning

confidence: 99%

Non‐financial Shareholder Activism: A Process Model for Influencing Corporate Environmental and Social Performance*

Cundill

Smart

Wilson

2017

Int J Management Reviews

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Shareholders have become increasingly active in endeavouring to influence companies' environmental and social practices. In comparison with the mature field of financially motivated shareholder activism, limited enquiries have been carried out on its nonfinancial counterparts. This paper synthesizes the knowledge base through a review of the academic literature, exploring shareholder activism intended to affect corporate environmental and social performance. Theoretical perspectives appropriate to this phenomenon are critically appraised: in particular, insights from social movement theory, Hirschman's theory of exit, voice and loyalty and stakeholder salience theory, as well as the roles of signalling and symbolic management actions. Data from the literature are organized into a process model of non-financial shareholder influence. Underpinned by the influencing context, this conceptualization centres on three primary shareholder interventions: divestment, dialogue and shareholder proposals. These interventions are enabled through a range of actors and tools: coalitions, non-governmental organizations, codes and indices, the media and regulators. The interaction between interventions and the enabling actors and tools helps to determine managers' perceptions of shareholder salience. These perceptions subsequently shape the organizational behaviours that affect companies' symbolic and substantive environmental and social performance. An agenda to direct future research in this burgeoning field is articulated.

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UN Principles for Responsible Investment Signatories and the Anti-Apartheid SRI Movement: A Thought Experiment

Cited by 29 publications

References 15 publications

Sources of Stakeholder Salience in the Responsible Investment Movement: Why Do Investors Sign the Principles for Responsible Investment?

Sources of Stakeholder Salience in the Responsible Investment Movement: Why Do Investors Sign the Principles for Responsible Investment?

The Origins and Meanings of Names Describing Investment Practices that Integrate a Consideration of ESG Issues in the Academic Literature

Non‐financial Shareholder Activism: A Process Model for Influencing Corporate Environmental and Social Performance*

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