1、外文文献翻译原文PROMOTINGCORPORATESOCIALRESPONSIBILITYISMARKETBASEDREGULATIONSUFFICIENTAUTHORJOSEPHELLATHEUNSUSTAINABLEDEPLETIONOFNATURALRESOURCES,PERPETUATIONOFPOORHEALTHANDIMPOSITIONOFDANGEROUSWORKINGCONDITIONSAREJUSTSOMEOFTHEWORRYINGEXTERNALCOSTSIMPOSEDBYINTERNATIONALCOMMERCIALOPERATIONSTHESECOSTSAREBORN
2、EESPECIALLYBYDEVELOPINGCOUNTRIESTHATDONOTRECEIVEADEQUATECOMPENSATIONFROMCOMPANIESRESPONSIBLEFORSOCIALANDENVIRONMENTALDAMAGEHOWEVER,ATANATIONALLEVELTHEREARESIGNIFICANTBARRIERSTOREGULATINGCOMPANIESTOENSURETHATTHEYMANAGETHEIRSOCIALANDENVIRONMENTALIMPACTSPROPERLYPRESCRIPTIVELEGISLATIONOFTENLEADSTOTOKENI
3、STICRESPONSESANDREGULATIONCANQUICKLYBECOMEANINACCURATEREFLECTIONOFSOCIETYSCONCERNS,LAGGINGBEHINDPUBLICOPINIONATANINTERNATIONALLEVEL,WITHINADEQUATEGLOBALGOVERNANCEANDDISCREPANCIESBETWEENNATIONALSOCIALANDENVIRONMENTALLAWS,IMPROVEMENTSINCORPORATEPRACTICESOFTENHAVETORELYONVOLUNTARYACTIONTHEREISANABUNDAN
4、CEOFRECOGNISEDINTERNATIONALSTANDARDS,FOEXAMPLETHOSESETBYTHEILO,OECDANDUN,FORPROTECTINGWORKERS,HUMANRIGHTSANDTHEENVIRONMENTHOWEVER,WHERETHESEARENOTINCORPORATEDINTONATIONALLEGISLATION,ORARENOTAPPLICABLETOOVERSEASOPERATIONS,THEIREFFECTIVENESSISMUCHDIMINISHEDCOMPANIESTAKEVOLUNTARYACTIONWHENMARKETFORCESR
5、EWARDTHEMFORDOINGSOTHECOMMERCIALIMPERATIVEFORACOMPANYTOIMPROVEITSPERORMANCECANBEDRIVENBYTHEREACTIONOFINSTITUTIONALINVESTORSANDSHAREHOLDERS,EMPLOYEES,SUPPLIERS,CUSTOMERS,COMMUNITYREPRESENTATIVESANDNGOSCORPORATEPRACTICESADVOCATEDINCODESOFCONDUCTMAYNOTHAVETHESAMEFORCEASLAW,BUTPRESSUREFROMTHESESTAKEHOLD
6、ERSCANINTHEORYBEAFORMIDABLEFORCEFORIMPROVEMENTSINBEHAVIOURCLEARLYTHISMARKETIMPERATIVENEEDSSUPPORTFORITTOWORKEFFECTIVELY,INFORMATIONABOUTBUSINESSACTIVITYHASTOBEMADEACCESSIBLESOINTERESTEDGROUPSCANMAKEINFORMEDDECISIONSABOUTTHEIRRELATIONSHIPSWITHCOMPANIESBUTACCESSIBLEINFORMATIONALONEISNOTENOUGHFORMARKET
7、BASEDREGULATIONTOTAKEPLACEACRITICALQUESTIONFORPOLICYMAKERSISHOWFARDISCLOSUREOFSOCIALANDENVIRONMENTALIMPACTSCANBEANEFFECTIVEMEANSTOIMPROVECORPORATEBEHAVIOURTOMAKEITEFFECTIVE,ANUMBEROFOTHERCRITERIAFORREPORTINGMUSTALSOBEMETADAMS2002THEISSUESTHATCANBEREPORTEDONMUSTMATCHTHEINTERESTSOFSTAKEHOLDERSTHEREMUS
8、TBEAMEASUREORAMETRICTHATACCURATELYCAPTURESPERFORMANCEANDCANBEAPPLIEDACROSSORGANISATIONSIDEALLYACROSSSECTORSANDGEOGRAPHICBOUNDARIESTHATMEASUREORMETRICSHOULDBEAUDITEDTHATMEASUREORMETRICSHOULDBECOMMUNICATEDTOTHEAPPROPRIATESTAKEHOLDERSTHERELEVANTSTAKEHOLDERSSHOULDRESPONDAMANDATORYAPPROACHATPRESENT,THESE
9、CRITERIAAREALONGWAYFROMBEINGFULFILLED,SOTHATMARKETENFORCEDREGULATIONBASEDONINFORMEDCHOICEISSTILLPOORLYDEVELOPEDINRESPONSETHEUKANDTHEEUARECURRENTLYGRAPPLINGWITHARGUMENTSOVERTHERELATIVEMERITSOFMANDATORYASOPPOSEDTOVOLUNTARYSOCIALANDENVIRONMENTALREPORTINGTHEURGENCYOFTHISDEBATEHASINCREASEDWITHTHEPUBLICAT
10、IONOFPROPOSALSBYTHEUKDEPARTMENTOFTRADEANDINDUSTRYSDTIINFLUENTIALLCOMPANYLAWREVIEWANDTHEEUROPEANCOMMISSIONSEMPLOYMENTANDSOCIALAFFAIRSDIRECTORATETHEFORMERADVOCATESREPORTINGONNONFINANCIALPERFORMANCEASAMEANSTOANENLIGHTENEDSHAREHOLDERAPPROACHTOCORPORATEGOVERNANCETHELATTERHASBROADERASPIRATIONSTOIMPROVEEUC
11、OMPANIESSOCIALANDENVIRONMENTALPERFORMANCEBOTHREPORTSCONFRONTSIMILARQUESTIONSABOUTTHEMOSTEFFECTIVEWAYTOGETSUFFICIENT,ACCURATEINFORMATIONFROMCOMPANIESSOMEKEYISSUESTOCONSIDERAREONWHICHISSUESSHOULDREPORTINGBEMANDATORYANDHOWDETAILEDSHOULDLEGISLATIONBEABOUTTHECONTENTANDFORMATOFREPORTSISTHEREATRADEOFFBETWE
12、ENIMPOSINGSTANDARDIZATIONANDTHEQUALITYOFINFORMATIONTHATISPROVIDEDSHOULDTHEREBEADISTINCTIONBETWEENTHEREQUIREMENTSMADEONCOMPANIESOFDIFFERENTSIZESANDINDIFFERENTSECTORSSHOULDEXTERNALVERIFICATIONBEREQUIREDSHOULDINTERESTEDPARTIESHAVEAFORMALMETHODOFREDRESSIFTHEYBELIEVETHEPUBLISHEDINFORMATIONTOBEAMISREPRESE
13、NTATIONCURRENTLEVELSOFVOLUNTARYDISCLOSUREANALYSISBYKPMGOFTHE100LARGESTCOMPANIESIN11OFTHEWORLDSINDUSTRIALISEDCOUNTRIESSHOWEDTHATONLY13PERCENTPRODUCEDENVIRONMENTALREPORTSIN1993,17PERCENTDIDSOIN1996,RISINGTO24PERCENTIN1999HOWEVER,INOCTOBER2000,THEPRIMEMINISTERCHALLENGEDTHEUKFTSE350TOPUBLISHANNUALENVIRO
14、NMENTALREPORTSBYTHEENDOF2001ANDTHATSUMMERTHEEUROPEANCOMMISSIONRECOMMENDEDTHATCOMPANIESSHOULDRECOGNISE,MEASUREANDDISCLOSEENVIRONMENTALISSUESINTHEIRANNUALREPORTSANDACCOUNTSRECENTSURVEYSDIFFERASTOHOWFARREPORTINGHASTAKENOFFINTHEUKIN2000,ANALYSISBYPENSIONSINSURANCERESEARCHCONSULTANTSPIRCCLAIMEDTHAT81PERC
15、ENTOFTHEFTSE350WEREDISCLOSINGTHEIRENVIRONMENTALIMPACTSCOMPAREDTO52PERCENTIN1998HOWEVER,MORECONSERVATIVEESTIMATESARETHATALMOSTHALFOFTHEUKSTOP200QUOTEDCOMPANIESDONOTADEQUATELYDISCLOSEONSOCIALANDENVIRONMENTALISSUES,ANDTHATTHEPRIMEMINISTERSCHALLENGETOTHEFTSE350WENTUNHEEDEDREPORTINGONSOCIALPERFORMANCEISE
16、VENFURTHERBEHINDALTHOUGH,BETWEEN2000AND2001THENUMBEROFFTSE100COMPANIESISSUINGINFORMATIONONTHEIRSOCIALPERFORMANCEDOUBLEDTO79,VERYFEWPRODUCEMORETHANCORPORATEGLOSS,WITHONLY16USINGQUANTITATIVEPERFORMANCEDATATOBACKUPTHEIRCLAIMSAREGULARLYCITEDPROBLEMWITHSOCIALREPORTINGISTHATTHEINDICATORSARELESSWELLDEVELOP
17、EDTHANINDICATORSESTABLISHEDFORENVIRONMENTALPERFORMANCEHOWEVER,EVIDENCESHOWSTHATEVENWITHISSUESONWHICHCOMPANIESHAVEEXPLICITPOLICYSTATEMENTS,ANDWHEREEASILYIDENTIFIABLEANDQUANTIFIABLEDATAEXISTS,THEUKSLARGESTCOMPANIESSTILLFAILTOPROVIDEINFORMATIONONTHEIRPERFORMANCEFOREXAMPLE,ONLYTENOFTHEFTSE100REPORTDATAO
18、NTHEETHNICDIVERSITYOFTHEIRWORKFORCEANDNONEPROVIDEQUANTITATIVEDATAONCHILDLABOURINTHEIRSUPPLYCHAINORONWORKDAYSLOSTTHROUGHSTRESSERM2001ANALYSISOFPUBLISHEDREPORTSALSOSHOWTHATPRACTICESDIFFERWIDELYBETWEENSECTORSTHOSEMOSTFORTHCOMINGWITHINFORMATIONONTHEIRENVIRONMENTALPOLICIESAND/ORPERFORMANCETENDTOBETHOSETH
19、ATHAVEAHIGHENVIRONMENTALIMPACT,SUCHASTHECHEMICALSANDTRANSPORTINDUSTRIES,ORTHOSEWHICHAREPARTICULARLYSENSITIVETOPOLITICALORREGULATORYFACTORS,FOREXAMPLE,UTILITIESNONINDUSTRIALSECTORS,SUCHASINSURANCE,COMMUNICATIONS,RETAILANDBANKINGTRADITIONALLYREPORTATBELOWAVERAGERATESASENVIRONMENTALISSUESARESEENTOBELES
20、SRELEVANTAMONGTHETOPFOURBANKSINTHEUK,THREEPROVIDELIMITEDENVIRONMENTALDATA,ANDONLYONEHASREFERENCETOSOCIALISSUESBEYONDBASICPHILANTHROPICCONTRIBUTIONSDOANE2002COMPANYSIZEISALSOANINDICATOROFREPORTINGBEHAVIOURUNSURPRISINGLY,DUETODIFFERENTLEVELSOFDEMANDASWELLASRESOURCECONSTRAINTS,THEREISADISPARITYBETWEENT
21、HEREPORTINGPRACTICESOFLARGEANDSMALLCOMPANIESIN2000,ONLYONEINTENSMALLCAPCOMPANIESSATISFIEDPIRCSCOREREPORTINGCRITERIA,COMPAREDTOHALFOFTHEFTSE100THEGENERALUPWARDTRENDINTHEQUANTITYOFREPORTSDOESNOT,HOWEVER,EQUATETOTHEPROVISIONOFIMPROVEDQUALITYOFINFORMATIONOFTHEREPORTSANALYSEDBYKPMGIN1999,ONLYHALFMENTIONE
22、DTHEIRPROGRESSONPRIORYEARSTARGETSANDTHEPROPORTIONOFREPORTSTHATCONTAINEDQUANTITATIVEDATAONENVIRONMENTALPERFORMANCEANDDESCRIBEDFUTURETARGETSREMAINEDCONSTANTBETWEEN1996AND1999FEWREPORTSKPMGESTIMATESONEINSIXARECHECKEDBYTHIRDPARTIESFORACCURACYANDWHERETHEYAREITTENDSTOBETHEDATACOLLECTIONPROCESSESRATHERTHAN
23、THEENDRESULTSTHATAREAUDITEDTHEREISARANGEOFVERIFICATIONMETHODSTHATCANBEEMPLOYEDFROMTRULYINDEPENDENTAUDITOFBOTHINTERNALMANAGEMENTANDDATATHROUGHTOINFORMALPEERREVIEWTHELIONSSHAREOFTHIRDPARTYAUDITINGISCONDUCTEDBYTHEBIGFIVEACCOUNTANCYFIRMSHOWEVER,THEIRABILITYTOPROVIDETHESESERVICESONSOCIALANDENVIRONMENTALI
24、NFORMATIONHASBEENBROUGHTINTODOUBTFOLLOWINGTHEENRONDEBACLE,PROVOKINGQUESTIONSONTHEIRABILITYTOPROVIDEACCURATEANDACCOUNTABLEFINANCIALAUDITSANDORGANISATIONSCHARGEDWITHAUDITINGORVERIFYINGREPORTSRARELYCOMMENTONISSUESTHATTHEREPORTHASFAILEDTOINCLUDEDIRECTIONOFFUTUREPOLICYTHEUKREGULATORYFRAMEWORKFORTHEREPORT
25、INGOFSOCIALANDENVIRONMENTALISSUESISDUETOSHIFTSIGNIFICANTLYTHEDTISCOMPANYLAWREVIEWPUBLISHEDITSRECOMMENDATIONSINJULY2001AFTERTHREEYEARSDELIBERATIONANDANEWCOMPANIESBILLISEXPECTEDAFTERCONSULTATIONTHENEWACTWILLREQUIRELARGEPUBLICANDPRIVATECOMPANIESTOPRODUCEANENHANCEDOPERATINGANDFINANCIALREVIEWOFRASPARTOFT
26、HEIRANNUALREPORTTHISISLIKELYTOMEANTHATITWILLBEMANDATORYFORDIRECTORSTOREPORTONNONFINANCIALISSUESTHATAREMATERIALTOUNDERSTANDINGTHEFIRMTHESEISSUESARELIKELYTOINCLUDEFACTORSTHATMAYSUBSTANTIALLYAFFECTFUTUREPERFORMANCEANACCOUNTOFTHECOMPANYSKEYRELATIONSHIPSWITHEMPLOYEESSUCHASDISABILITYANDNONDISCRIMINATIONPO
27、LICIESANDPOLICIESANDPERFORMANCEONENVIRONMENTAL,COMMUNITY,SOCIAL,ETHICALANDREPUTATIONALISSUESINCLUDINGCOMPLIANCEWITHRELEVANTLAWSANDREGULATIONSTHISREQUIREMENTISEXPECTEDTOAPPLYTOPUBLICCOMPANIESTHATSATISFYATLEASTTWOOFTHEFOLLOWINGTHREECRITERIATHEYHAVEATURNOVERINEXCESSOF50MILLION,ABALANCESHEETTOTALOFATLEA
28、ST25MILLIONANDOVER500EMPLOYEESTHEEUROPEANCOMMISSIONSGREENPAPERONTHEDEVELOPMENTOFAEUROPEANFRAMEWORKFORENCOURAGINGCORPORATESOCIALRESPONSIBILITYADVOCATESREACHINGANINTERNATIONALCONSENSUSONREPORTINGITHIGHLIGHTSTHEUSEOFTHEGLOBALREPORTINGINITIATIVEGRI,PROBABLYTHEMOSTWIDELYRECOGNISEDVOLUNTARYREPORTINGGUIDEL
29、INESTOCOVERECONOMIC,SOCIALANDENVIRONMENTALISSUESADRAFTREPORTFROMTHEEUROPEANPARLIAMENTSCOMMITTEEONEMPLOYMENTANDSOCIALAFFAIRSHASCALLEDONTHECOMMISSIONTOBRINGFORWARDAPROPOSALFORADIRECTIVE,REQUIRINGENTERPRISESWITHMORETHAN250EMPLOYEESORATURNOVEROF4MILLIONTOUNDERTAKEANNUALSOCIALANDENVIRONMENTALREPORTS,BYTH
30、EENDOF2003,WITHANIMPLEMENTATIONPERIODOFTHREEYEARSTHECONTENTOFTHESEANNUALSOCIALANDENVIRONMENTALREPORTSSHOULDBESETACCORDINGTOTHEEVOLVINGINTERNATIONALRANGEOFECONOMIC,ENVIRONMENTALANDSOCIALSTANDARDSIDENTIFIEDBYTHEGRIWHICHLAUNCHEDITSLATESTGUIDELINESINMARCH2002THESEASPIRATIONS,DUETOBEVOTEDONBYTHECOMMITTEE
31、ANDPARLIAMENT,FAROUTSTRIPTHOSEOFTHEDTISCOMPANYLAWREVIEWATEARLY2002EXCHANGERATES,SUCHADIRECTIVEWOULDREQUIREALLUKCOMPANIESWITHATURNOVEROFAPPROXIMATELY25MILLIONTOREPORTFURTHERMOREPROPOSALSFROMTHECOMMITTEEAREFORREPORTSTOBEINDEPENDENTLYVERIFIEDANDINCLUDEALLLEVELSOFTHECOMPANYANDITSSUPPLYCHAINASWELLASFORTH
32、ECOMMISSIONTOSUPPORTANDASSISTCORPORATEWATCHGROUPSANDOTHERCIVILSOCIETYINITIATIVESAIMEDATMONITORINGCORPORATEBEHAVIOUROFCOURSE,SUCHREFORMSWOULDBEASIGNIFICANTBOOSTTOMARKETBASEDREGULATIONTHEREACTIONTOTHESEAMBITIOUSPROPOSALSHIGHLIGHTSTHETENSIONSCAUSEDBYMANDATORYREPORTINGATTHEENDOFMARCH2002,THEEUROPEANPARL
33、IAMENTSINDUSTRYCOMMITTEEREJECTEDDEMANDSFORALLEUFIRMSTOBESUBJECTTOMANDATORYSOCIALANDENVIRONMENTALREPORTINGALONGTHELINESOFGRIANDINSTEADITENDORSEDTHEORIGINALVOLUNTARYAPPROACHIMPLIEDINTHEGREENPAPERTHECOMMITTEEAGREEDTHATTHEEUSHOULDFOCUSONBETTERCOMPLIANCEWITHEXISTINGCODESOFPRACTICESUCHASTHOSEDEVELOPEDBYTH
34、EOECDANDSHOULDENCOURAGESECTORALLYDRIVENCAMPAIGNSBYINDUSTRYBODIESTHEMSELVESTHISISINLINEWITHBUSINESSCAMPAIGNSCLAIMINGTHATEUROPEANFIRMSARETOODIVERSETOHAVEASINGLEREPORTINGREQUIREMENTIMPOSEDUPONTHEMFROMDISCLOSURETOIMPROVEDPRACTICESUNSURPRISINGLY,LEGISLATIONDOESAFFECTTHERATEOFREPORTINGFOREXAMPLE,INDENMARK
35、THEPROPORTIONOFTHELARGESTCOMPANIESTOREPORTROSEFROMEIGHTPERCENTIN1996TO29PERCENTIN1999,PARTLYASARESULTOFTHEGREENACCOUNTREQUIREMENTFROM1996ONCOMPANIESWITHASIGNIFICANTENVIRONMENTALIMPACTHOWEVER,THENUMBEROFREPORTSPROMPTEDBYLEGISLATIVECHANGESDOESNOTALWAYSEQUATETOTHEPROVISIONOFUSEFULORINDEEDACCURATEINFORM
36、ATIONANDSOMEBELIEVETHATTHEQUALITYOFINFORMATIONSUFFERSIFCOMPANIESARESIMPLYCOMPLYINGWITHIMPOSEDLEGALFRAMEWORKSITISLIKELYTHATTOUGHPROPOSALSTOINTRODUCEMANDATORYREPORTINGINTOUKANDEULAWWILLBEWATEREDDOWN,BUTEVENIFTHEYWERENOT,FORTHISDISCLOSURETOTRANSLATEINTOIMPROVEMENTSTHEREWOULDHAVETOBEINTERESTFROMSTAKEHOL
37、DERSANDAWILLINGNESSTOACTONTHISINFORMATIONIN2001,MORISHOWEDTHATTHEREAREWIDELYDIFFERINGLEVELSOFINTEREST87PERCENTOFSHAREHOLDERSWOULDEXPECTTOSEEACOPYOFASOCIALANDENVIRONMENTALREPORT,COMPAREDTO63PERCENTOFEMPLOYEESANDONLY25PERCENTOFCUSTOMERSFURTHERMORE,WHILSTONEINNINEBRITISHCONSUMERSSAYTHATTHEYARECONCERNED
38、WITHSOCIALANDENVIRONMENTALISSUES,LESSTHANAFIFTHREFLECTTHISINHOWTHEYSPENDTHEIRMONEYANDLESSTHAN5MAKEANACTIVEANDINFORMEDCHOICEINTHEMAJORITYOFTHEIRPURCHASINGDECISIONSCOWEANDWILLIAMS2000INDEED,NGOSANDADVOCACYGROUPSMAYNOTHAVETHERESOURCESTOMAKECOMPARISONSACROSSCOMPANIESANDMEDIATETHISINFORMATIONTOHELPINFORM
39、CONSUMERSTHEPERCEIVEDIMPORTANCEOFDIFFERENTSOCIALISSUESVARIESACROSSBORDERSANDTHISCREATESANOTHERSETOFPROBLEMSFORINTERNATIONALCOMPANIESHOWEVER,THEREAREINTERNATIONALLYAGREEDISSUESOFCONCERN,SUCHASHEALTHANDSAFETYATWORK,ANDTHEMOSTPRESSINGENVIRONMENTALCONCERNSHAVEGLOBALIMPLICATIONSTHISISREFLECTEDBYPRESSUREF
40、ROMTHEINTERNATIONALINVESTMENTCOMMUNITYFORCOMPANIESTOPROVIDEINFORMATIONONTHEIRNONFINANCIALPERFORMANCETHISDEMANDFORINFORMATIONHASBEENBOOSTEDBYRECENTAMENDMENTSTOTHEUKSPENSIONACTTHATREQUIRESPENSIONFUNDTRUSTEESTOSTATEWHETHERTHEYTAKESOCIALANDENVIRONMENTALISSUESINTOACCOUNTINTHEIRINVESTMENTDECISIONSTHEREHAV
41、EBEENSIMILARLEGISLATIVECHANGESELSEWHEREINEUROPETHISINCREASEDDEMANDFORREPORTSHASBEENFURTHERBOOSTEDBYSIMILARINITIATIVESFROMTHEASSOCIATIONOFBRITISHINSURERSANDREQUIREMENTSTOBEELIGIBLEFORAPLACEONTHEETHICALFTSE4GOODINDEXHOWEVER,INTERESTFROMINVESTORSWILLFAILTOPROMOTEQUALITYREPORTINGIFANALYSTSCONTINUENOTTOC
42、ONSIDERSOCIALANDENVIRONMENTALPERFORMANCETOBEIMPORTANTCONCLUSIONTHEREISARANGEOFPOSSIBLEAPPROACHESTHATGOVERNMENTSCANTAKETHATFALLSHORTOFPRESCRIPTIVEREPORTINGREQUIREMENTSLEGISLATIONTHATINDIRECTLYENCOURAGESREPORTINGBYSTIMULATINGTHEDEMANDFORINFORMATIONINDICATINGGOODPRACTICEBYNAMINGANDSHAMINGCOMPANIESTHATP
43、ERFORMPOORLYANDPROVIDINGPRACTICALGUIDELINESASWELLASLEADINGBYEXAMPLETODATE,UKGOVERNMENTINTERVENTIONHASGONESOMEWAYTODOINGALLTHESEAMENDINGTHEPENSIONSACTPUBLISHINGENVIRONMENTALREPORTINGGUIDELINESSUPPORTINGAWARDSFORSOMEOFTHEBESTREPORTSANDNAMINGANDSHAMINGLARGECOMPANIESTHATFAILTOCOMPLYVOLUNTARILYMORECOULDB
44、EDONE,FOREXAMPLEREQUIRINGGREATERDISCLOSUREINPUBLICPROCUREMENT,BUTITMAYNOTBEENOUGHHOWEVER,THERATIONALEFORAMANDATORYREPORTINGSTRUCTURENEEDSTOBECLEARIFTHEOBJECTIVEISTOMAKEMARKETSWORKMOREEFFECTIVELY,FOREXAMPLEBYENSURINGTHATSHAREHOLDERSHAVEADEQUATEINFORMATIONONTHEMANAGEMENTOFTHESOCIALANDENVIRONMENTALRISK
45、THATACOMPANYFACES,THENALLOWINGDIRECTORSDISCRETIONOVERTHEINFORMATIONTHATTHEYPROVIDEANDTAILORINGITTOTHEFINANCIALCOMMUNITYISACCEPTABLEHOWEVER,IFTHEOBJECTIVEISTOENCOURAGEAWIDERGROUPOFSTAKEHOLDERSTOPRESSFORIMPROVEDCORPORATEBEHAVIOURTHENTHEREISACLEARCASEFOREXPOSINGCOMPANIESTOTHERISKOFMARKETPUNISHMENTBYMAN
46、DATINGTHEMTOREPORTONAWIDERANGEOFINDICATORSTHATARECLEARLYCOMPARABLEACROSSSIMILARCOMPANIESASWELLASSECTORSANDCOUNTRIESHOWEVER,EVENIFLAWSAREPUTINPLACE,DISCLOSUREISANECESSARYBUTNOTSUFFICIENTCONDITIONFORMARKETFORCESTOAPPLYPRESSURETOCOMPANIESTHEREHASTOBEAWIDESPREADWILLINGNESSFROMSTAKEHOLDERSTOUSETHISDATATO
47、INFORMMARKETDECISIONSUNFORTUNATELY,ATPRESENTTHISLOOKSUNLIKELYSOURCENEWECONOMY，2002，9296101译文推动企业社会责任以市场为导向的监管是否足够作者约瑟夫艾拉自然资源不可持续的耗竭，长期存在的健康状况和实施危险的工作条件，都只是一些令人担忧的国际商业运作的额外成本。这些费用特别是由发展中国家承担，收不到来自企业的社会责任和环境破坏的适当补偿。然而，在全国的水平下，在规范公司管理以确保其社会和环境影响正常方面存在重大障碍。规范性立法往往导致表面上的回应和监管很快成为一个不能准确反映的社会关注问题，使得公众舆论落后。
48、在国际水平下，全球治理的不足，国家社会和环境法律之间存在差异，导致改善企业的做法往往要依靠自愿行动。有一个被认可的国际标准，如为了保护工人、人权和环境而根据国际劳工组织、联合国、经济合作和发展组织被设定的那些。但是，在这些没有被纳入国家法律的，或并不适用于海外业务的，其有效性就大大降低了。公司采取自愿行动时，市场力量奖励他们这样做。对一个公司的商业当务之急是改善其绩效，这样可以带动机构投资者、股东、员工、供应商、客户、社区代表和非政府代表的反应。企业行为准则的做法主张可能没有作为法律的同等效力，但是这些来自利益相关者的压力，从理论上来说是改进其行为的巨大力量。显然，市场迫切需要支持。为了有效的
49、工作，关于业务活动的信息必须事先了解，这样可以使得感兴趣的群体做出与公司的关系的明智的决定。但是，以市场为导向的监管中所获取的信息是不充分的。对于政策制定者来说的关键问题是社会和环境影响的披露程度可以成为一种有效手段，提高企业的行为。为使其有效，许多其他标准的报告也必须满足亚当斯，20021可以被报告的问题必须符合利益相关者的利益2必须有一个标准，可以用来衡量或准确捕捉绩效，并可应用于组织（理想的跨各部门和地域的界限）3这一措施或指标应当接受审核4这一措施或指标应传达到适当的利益相关者5有关利益相关者应该回应一项强制性的方法目前，这些标准想要兑现还要很长的一段时间，故基于知情选择基础的市场监管仍然不发达。作为响应，英国和欧盟目前正在解决争论强制性的优缺点与自愿的社会与环境的报告。这次辩论的紧迫性在于增加了对英国贸易和工业公司（DTI）有影响力的公司法律评论和欧洲委员会的就业和社会事务理事之职。前者主张报告非财务绩效为手段，以一个“开明的股东”来治理公司。后者则具有更广泛的愿望，以提高欧盟成员国企业的社会和环境绩效。这两份报告都面临类似的问题，就是如何以最有效的方式从公司获取充分、准确的信息。一些需要考虑的关键问题是1哪些问题应该是强制性的报告，以及如何制定有关报告的内容和格式的具
