dunnettreader + externalities   6

Tom Walker - EconoSpeak: The Hours of Labour and the Problem of Social Cost - Jan 2015
Coase argued that the suggested courses of action in the Pigovian tradition – liability, taxation or regulation – were inappropriate and often undesirable.(..) However, Coase didn't consider the full range of Pigou's examples and analysis. While Coase’s restatement of the problem may have been appropriate to the specific externality problems discussed by Pigou in part II, it entirely overlooked the radically different labour market problem encountered in part III, in which competitive pressure compels an employing firm to inflict harm on both itself and its employees and thus regulatory restraint of the firm (and competing employers) may benefit both. -- downloaded pdf to Note
paper  economic_theory  economic_sociology  intellectual_history  welfare_economics  institutional_economics  Coase  markets  markets-structure  property_rights  transaction_costs  externalities  competition  Labor_markets  social_costs  cost-benefit  regulation-costs  collective_action  common_good  efficiency  labor_law  wages  labor_standards  downloaded  EF-add 
january 2015 by dunnettreader
Ruud de Mooij, Michael Keen, Victoria Perry - Fixing international corporate taxation | vox 14 September 2014
IMF experience in developing countries points to some distinctive policy issues. Over the past 2 decades, developing countries have signed a huge number of tax treaties. But the evidence on whether they actually affect FDI (plagued by endogeneity issues) is mixed at best. What we do see in our country work are sometimes significant revenue losses, reinforced by the ability of MNCs to route and structure their intra-group payments to exploit treaty arrangements. This has for some while led IMF staff to (cautiously) urge caution in signing treaties – a view... included in the G20-OECD Action Plan of the Base Erosion and Profit Shifting project. [A less prominent but important issue] is the tax treatment of capital gains on the transfer of interest in assets, such as telecoms or mineral licenses – it may be possible to avoid tax in the country where these assets are inherently located by holding them through a chain of offshore companies, and then selling the claim to a low-tax jurisdiction. This has emerged as a macro-relevant concern in several low-income countries (such as Mauritania and Uganda). *-* The underlying policy issue is one of spillovers in international taxation – the effects that, through the ways in which business reacts, one country’s tax decisions have an impact on others. A low or zero tax rate on income arising in a country is only the most obvious route. Network externalities also arise from the signing of treaties (if A, which has a treaty with B, signs another with C, in effect creating a treaty between B and C without consent from B); and countries can compete over tax bases by special regimes for types of income or activities. *-* one has to start by looking at the basic architecture of international taxation. -- closer to where the world may be heading, is moving toward a combination of arm’s-length pricing on transactions where this is relatively easy (such as for most tangibles) and a formulaic profit split where it is not (such as for most intangibles). And there are other suggestions for fundamentally different international tax policies, such as that for destination-based corporate tax, which mimics a VAT but with a deduction for the cost of labour.
international_political_economy  global_economy  global_governance  taxes  tax_havens  MNCs  transfer_pricing  trade-agreements  treaties  international_law  international_economics  law-and-economics  law-and-finance  corporate_citizenship  emerging_markets  G20  OECD_economies  OECD  IMF  FDI  investment-bilateral_treaties  externalities  bibliography  EF-add 
september 2014 by dunnettreader
Thomas Donaldson and Lee E. Preston - The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications | JSTOR: The Academy of Management Review, Vol. 20, No. 1 (Jan., 1995), pp. 65-91
The stakeholder theory has been advanced and justified in the management literature on the basis of its descriptive accuracy, instrumental power, and normative validity. These three aspects of the theory, although interrelated, are quite distinct; they involve different types of evidence and argument and have different implications. In this article, we examine these three aspects of the theory and critique and integrate important contributions to the literature related to each. We conclude that the three aspects of stakeholder theory are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental. -- see bibliography on jstor information page -- didn't download -- cited by more than 150 on jstor
article  jstor  corporate_governance  busisness-ethics  legal_theory  property_rights  externalities  CSR  lit_survey  bibliography  EF-add 
february 2014 by dunnettreader
Elisabet Garriga and Domènec Melé - Corporate Social Responsibility Theories: Mapping the Territory | JSTOR: Journal of Business Ethics, Vol. 53, No. 1/2 (Aug., 2004), pp. 51-71
The Corporate Social Responsibility (CSR) field presents not only a landscape of theories but also a proliferation of approaches, which are controversial, complex and unclear. This article tries to clarify the situation, "mapping the territory" by classifying the main CSR theories and related approaches in four groups: (1) instrumental theories, in which the corporation is seen as only an instrument for wealth creation, and its social activities are only a means to achieve economic results; (2) political theories, which concern themselves with the power of corporations in society and a responsible use of this power in the political arena; (3) integrative theories, in which the corporation is focused on the satisfaction of social demands; and (4) ethical theories, based on ethical responsibilities of corporations to society. In practice, each CSR theory presents four dimensions related to profits, political performance, social demands and ethical values. The findings suggest the necessity to develop a new theory on the business and society relationship, which should integrate these four dimensions. -- see bibliography on jstor information page -- didn't download -- cited by more than 40 on jstor
article  jstor  social_theory  business  business-and-politics  CSR  corporate_governance  capitalism  ethics  busisness-ethics  externalities  profit  civil_society  lit_survey  bibliography  EF-add 
february 2014 by dunnettreader
Ulf Henning Richter - Liberal Thought in Reasoning on CSR | JSTOR: Journal of Business Ethics, Vol. 97, No. 4 (December 2010), pp. 625-649
In this article, I argue that conventional reasoning on corporate social responsibility (CSR) is based on the assumption of a liberal market economy in the context of a nation state. I build on the study of Scherer and Palazzo (Acad Manage Rev 32(4):1096-1120, 2007), developing a number of criteria to identify elements of liberal philosophy in the ongoing CSR debate. I discuss their occurrence in the CSR literature in detail and reflect on the implications, taking into account the emerging political reading of the firm. I conclude that the apolitical framework in the mainstream CSR literature has to be overcome since it does not reflect recent changes in the socio-economic conditions for economic actors in a globalizing world. -- over 200 references -- didn't download
article  jstor  international_political_economy  globalization  global_system  corporations  corporate_governance  CSR  nation-state  corporate_citizenship  firms-theory  regulation  accountability  business-and-politics  externalities  capitalism  political_economy  economic_sociology  management  bibliography  EF-add 
february 2014 by dunnettreader

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