The social and environmental impacts of mining, especially in the case of large mining developments, can be dramatic and irreversible. From a regulatory perspective, the impacts of mining present a range of challenges, at both global and local levels. In recent years, however, many large, globalised mining corporations have been attempting to demonstrate that they can be trusted to adequately address the potential social and environmental impacts of their activities. This has lead some mining corporations to engage in certain behaviours that may be further leveraged to help to steer them towards improved social and environmental outcomes. This research explores the reasons why some mining corporations want to be trusted, how they believe trust can be built, the kinds of activities they are undertaking in order to build trust, and the implications of this for regulation and governance. Sociological perspectives on trust are employed as a theoretical foundation to analyse the significance of trust to large mining corporations in the context of their social and environmental performance, and the consequences of this for corporate regulation. Using a qualitative methodology, data was collected through participant observation, relevant industry documentation, and interviews with mining executives, non-government organisations, regulators and other key players in the mining industry. This data provides an insight into the dynamics of trust, regulation and corporate behaviour from the perspective of the mining industry and its stakeholders. The research finds that trust does play a significant role in corporate behaviour, and in regulatory dynamics. Further, many corporate trust-building efforts were found to have resulted in some level of improved social and environmental performance, at least at the level of systems, procedures and corporate rhetoric. Such findings around corporate trust-building and resultant corporate behaviour have implications for regulatory strategy in that it helps to explain why and how corporate trustworthiness may be targeted by regulators in order to achieve improved regulatory outcomes. This research contributes to the body of knowledge on trust and regulation in the fields of sociology and regulatory studies, and has practical application in terms of regulatory strategy. It also offers a platform for further studies into how trust might be more effectively harnessed in terms of regulatory strategy in the mining industry and across other industry sectors.

The three studies in this dissertation explore the relationship between Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP). CSR consists of social, ethical, and environmental performance dimensions that have not traditionally appeared in mandated financial reports and largely reflect societal expectations for corporate behavior beyond legal and regulatory constraints. CSR is reflected in both corporate actions (performance outcomes) and voluntary reporting (disclosure), and the two are not necessarily equivalent due to managerial discretion in disclosure. Although the mechanisms remain unclear, the general consensus is that there is a positive relationship between CSR and CFP. In considering the drivers and goals of CSR, two themes emerge and are used to inform these papers: a stakeholder view of organizational relationships and the need to signal legitimacy in the face of changing social norms. A stakeholder view asserts that a wide range of groups across society are important to the long-term success and health of the organization. Legitimacy theory provides the explanation of why the stakeholder view is important to organizational success and can produce significant strategic advantages. The first study utilizes archival data in an exploration of how to model the relationship between Corporate Social Performance (CSP) and CFP. Using independent evaluations of organizational CSP from KLD STATS, I explore the CSP-CFP relationship at four different levels (overall CSP, component CSP, directional component CSP, and issue-based component CSP). I consider the effect of CSP on a range of outcome measures of CFP performance, at different levels of aggregated performance measures and linkage to stakeholder groups. Finally, I explore the pattern of significant CSP components on individual CFP outcome measures to iv determine if there is evidence for changing associations based on relevant stakeholder groups, in answer to concerns raised by prior research (Wood and Jones 1995; Orlitzky, Schmidt, and Rynes 2003). I find that (a) stock market measures are extremely insensitive to CSP; (b) the appropriate measurement level of CSP varies with the degree to which the CFP measure is aggregated and attributable to a more focused group of stakeholders; and (c) significant CSP aspects and associated CFP outcomes do vary in patterns and sensitivity. The second study examines the role voluntary social disclosure plays in economic performance through an attribute I term resilience. Resilience influences stakeholder resource allocation decisions in the face of unexpected poor performance attributable to an exogenous shock and is associated with perceived organizational legitimacy. To test this model, an experiment is conducted in which participants are asked to assess the perceived legitimacy of an organization based on information characteristics of voluntary CSR disclosure and then to make reallocation decisions in the face of poor performance caused by an industry crisis not involving the underlying organization. I find that high quality disclosure (driven by reporting accuracy) is significantly associated with greater perceived legitimacy. In turn, the legitimacy construct is significantly associated with resilience following an exogenous shock. The final study considers organizational choices in CSR disclosure to preserve credibility in the face of a crisis threatening the legitimacy of the institutional framework. Using qualitative data surrounding the turbulent 2001 – 2002 period encompassing the Enron and WorldCom scandals and the fall of Andersen, I examine organizational voluntary disclosure decisions to ascertain how they sought to preserve their own informational credibility and legitimacy in the face of a threat that did not directly involve their actions. I find that organizations responded v throughout this period by increasing signals of both transparency (greater CSR disclosure) and credibility (greater use of external sources of assurance of that disclosure). I also find that thirdparty assurance was not widely used, and remained at a steady, minimal percentage over time. Overwhelmingly, organizations turned to the implementation of an independent, external reporting framework (e.g., the Global Reporting Initiative’s widespread guidelines) that provided consistency and comparability in their reporting, made use of standardized measurements and definitions, and required specific items and measures.

Titel: Kulturens modererande effekter på sambandet mellan CSR och CFP Nivå: Examensarbete på grundnivå (kandidatexamen) i ämnet företagsekonomi. Författare: Ferdous Foroughi och Shabab Hasan Handledare: Jan Svanberg Datum: 2019 - juni Syfte: Företagens sociala ansvar (CSR) har utvecklats till ett viktigt ämne både för företag och dess intressenter. Varierande resultat gällande effekten av CSR-insatser på företagsprestanda har tidigare rapporterats. Tidigare studier undersöker och fokuserar på en liten del av CSR med många olösta teoretiska och empiriska frågor till följd av detta. Det har även visats att kultur påverkar beslutsfattandet i synnerhet i relation till CSR. Syftet är därmed att undersöka om nationell kultur har modererande effekter på sambandet mellan CSR och finansiell prestation (CFP) hos börsnoterade bolag i världen.   Metod: Studiens vetenskapsteoretiska utgångspunkt är positivism med hypotetiskt-deduktiv ansats. En kvantitativ forskningsstrategi används för 3230 börsnoterade företag med data från en femårsperiod 2013 - 2017. Datan baseras på sekundärdata inhämtad från Thomson Reuters Eikon, Världsbanken och Hofstedes kulturindex, vilken analyserats med univariata och bivariata statistiska tester samt multipla regressionsanalyser i statistikprogrammet IBM SPSS Statistics. Resultat & slutsats: Det finns ett positivt samband mellan CSR och CFP. Nationella kulturer har modererande effekter på det sambandet. Genom att använda Hofstedes kulturdimensioner har det visats att maktdistans (PD), osäkerhetsundvikande (UAI), maskulinitet (MAS) och långtidsorientering (LTO) har negativ modererande effekter, medan individualism (IDV) och tillfredsställelse (IND) har positiv modererande effekter på sambandet mellan CSP och CFP. Examensarbetets bidrag: Studien bidrar med ny kunskap för att fylla forskningsgapet gällande nationella kulturers modererande effekter på sambandet mellan CSR och finansiell prestation. Studien bidrar på ett värdefullt sätt till både tidigare teori och empiri samt lyfter fram nationella kulturers påverkande roll för företagens finansiella prestation. Förslag till vidare forskning: Det behövs flera liknande studier med andra variabler som kontrollerar och analyserar sambandet. Vidare föreslår vi också att genomföra en liknande studie som även inkluderar icke-börsnoterade bolag, för att omfatta flera länder och dessutom en längre tidsperiod än fem år för att se om nationella kulturer påverkar sambandet på ett annat sätt. Nyckelord:Corporate social responsibility, corporate social performance, corporate financial performance, nationell kultur, Hofstedes kulturdimensionsteori. / Title: Culture’s moderating effects on the relationship between CSR and CFP Level: Student thesis for Bachelor’s Degree in Business Administration Authors: Ferdous Foroughi och Shabab Hasan Supervisor: Jan Svanberg Date: 2019 - june Aim: Corporate Social Responsibility (CSR) has been developed to become an important subject for both corporates and their stakeholders. Varying results have been reported regarding the effect of CSR initiatives. Prior studies investigate and focus on a small part of CSR with following unresolved theoretical and empirical questions. It has also been shown that culture affects decision making, particularly in relation to CSR. The aim of this study is hence to investigate whether national culture has moderating effects on the relationship between CSR and corporate financial performance (CFP) among listed corporations in the world. Method: A positive research methodology has been applied with a hypothetical-deductive approach. A quantitative research strategy is used for 3230 listed corporations with data from a five-year time period 2013 - 2017. Data is based on secondary data from Thomson Reuters Eikon, World Bank and Hofstedes cultural index, which were analyzed with univariate, bivariate and multivariate analyses in the statistical software IBM SPSS Statistics. Result & Conclusion: There is a positive correlation between CSR and CFP. National cultures have moderating effects on that correlation. Using Hofstede's cultural dimensions, it has been shown that power distance (PD), uncertainty avoidance index (UAI), masculinity (MAS) and long-term orientation (LTO) have negative moderating effects, while individualism (IDV) and indulgence (IND) have positive moderating effects on the relationship between CSP and CFP. Contribution of the thesis: The study contributes with new knowledge to fill the research gap regarding national cultures’ moderating effects on the relationship between CSR and financial performance. The study contributes in an insightful way to both prior theory and empirical data and emphasizes the role of national cultures on the corporates’ financial performance. Suggestion for future research: Several similar studies are needed with other variables that control and analyze the relationship. Furthermore, we also propose to carry out a similar study that also includes non-listed companies, to include several countries and, moreover, a longer time period than five years to see if national cultures affect the relationship in another way. Keywords:Corporate social responsibility, corporate social performance, corporate financial performance, national culture, Hofstede’s cultural dimension theory.

Examensarbete, Civilekonomprogrammet, Ekonomihögskolan vid Linnéuniversitetet Författare: Gustav Johannesson och Martin Westport Handledare: Andreas Stephan Medbedömare: Anna Stafsudd Titel: Sambandet mellan Corporate Social Performance och finansiell risk - En kvantitativ studie som undersöker nordiska företag Bakgrund: Företags sociala ansvar har ständigt funnits på företagsagendan under senaste åren efter ökade globala utmaningar och större påtryckningar från intressenter. Man kan se allt större risker som är kopplade till företags hållbarhetsarbete. Med bakgrund till detta finns det ett stort intresse och en uppåtgående trend kring hållbara investeringar där Norden är ledande inom området. Syfte: Studiens syfte är att förklara sambandet mellan Corporate Social Performance, både på en sammanslagen och individuell nivå, och finansiell risk. Metod: Genom den deduktiva forskningsansatsen och den kvantitativa forskningsstrategin som är baserad på paneldata testar författarna sina hypoteser. Författarna bygger sina hypoteser på intressentteorin och riskhanteringsteorin som testas med ett nordiskt urval på 144 företag under tidsperioden 2002-2016. Slutsats: Studiens resultat visar att det finns ett negativt samband mellan Corporate Social Performance och finansiell risk. Det finns även ett negativt samband mellan företags sociala prestationer och finansiell risk. Detta är i linje med författarnas förväntningar. Däremot visar resultatet inga samband mellan företags miljömässiga och styrningsmässiga prestationer och deras finansiella risk. / Degree Project, The Business Administration and Economics Programme, School of Business and Economics at Linnaeus University Authors: Gustav Johannesson and Martin Westport Supervisor: Andreas Stephan Co-assessor: Anna Stafsudd Title: The relationship between Corporate Social Performance and Financial Risk - A quantitative study that examines Nordic companies Background: Corporate Social Responsibility has been on the corporate agenda in recent years following increased global challenges and greater pressure from stakeholders. One can see more risks associated with corporate sustainability. This has led to a great interest globally and an upward trend in Socially Responsible Investing where the Nordic region is at the leading edge. Purpose: The purpose of the study is to explain the relationship between Corporate Social Performance, both at a combined and an individual level, and financial risk. Method: Through the deductive research approach and the quantitative research strategy that is based on panel data, the authors test their hypotheses. The authors base their hypotheses on stakeholder theory and risk management theory and test them with a Nordic sample of 144 companies over the period 2002-2016. Conclusion: The study results show that there is a negative relationship between Corporate Social Performance and financial risk. There is also a negative relationship between social performance and financial risk. This is in line with the authors’ expectations. However, the results show no relationship between companies’ environmental and governance performance and their financial risk.

Syfte: Det ställs idag högre krav på att företag inte enbart kan fokusera på att tjäna pengar utan att de också måste börja ta ansvar för miljö, samhälle och ekonomi. Till följd av de ökade kraven på företagen har vikten av begreppet Corporate social responsibility (CSR) ökat de senaste årtiondena. En populär inriktning hos tidigare studier inom området CSR är om CSR påverkar företagets finansiella prestation (CFP), vilka visat på motsägelsefulla resultat. Dock har forskning identifierat ett äkthets-gap mellan företags uttalade ansvarstagande och vad som i verkligheten utförs. Det har även konstaterats att en CSR-kommitté samt att konsekvent CSR påverkar äktheten i CSR. Syftet med denna studie är därför att undersöka hur äktheten hos investeringar i Corporate social responsibility, CSR, med avseende på hur en CSR-kommitté och konsekvent CSR, påverkar företagens lönsamhet, CFP. Metod: Studien antar en positivistisk forskningsfilosofi med en hypotetiskt deduktiv ansats. Utifrån ett kvantitativt tillvägagångssätt har sekundärdata inhämtats från databasen Thomson Reuters Datastream. En longitudinell design har använts där data har inhämtats över en sexårsperiod där det slutgiltiga urvalet har analyserats med hjälp av multipla regressionsanalyser i statistikprogrammet IBM SPSS. Resultat & slutsats: Studien visar att lönsamheten är högre hos företag som innehar en CSR-kommitté, än för företag utan CSR-kommitté, vilket indikerar att företag genom ett äkta engagemang i CSR uppnår ökad lönsamhet. Ledningens benägenhet att förmedla socialt ansvarstagande leder till ett bättre samarbete med företagets intressenter som ger ett högre finansiellt utfall. Förslag till fortsatt forskning: Studier som undersöker företags konsekventa CSR-aktiviteter över en längre tidsperiod för att identifiera effekterna av den nya hållbarhetslagen. Eftersom förekomsten av en CSR-kommitté påverkar företags lönsamhet önskar vi även ytterligare forskning angående vilka faktorer som kan förstärka eller försvaga utfallet. Uppsatsens bidrag: Ur ett teoretiskt perspektiv bidrar denna studie till redovisningslitteraturen genom att undersöka sambandet mellan finansiell prestation och äktheten hos bolagens CSR-motiv. Ur ett praktiskt perspektiv kan denna studie vara betydelsefull för företag som planerar att implementera en CSRkommitté eftersom detta bidrar till företags lönsamhet. / Aim: Todays’ companies are facing an increased demand from society that they need to shift their priorities from just making money to being socially responsible. Due to the increased demand, the importance of the concept Corporate social responsibility (CSR) has also increased in the last decades. A popular branch in prior CSR studies has been to investigate if CSR-investments affects the Corporate financial performance (CFP) which has shown conflicting results. However, previous research has identified an authentic gap between what companies are promising and what they implement in reality. Therefore the aim with this study is to investigate how authentic investments in CSR, with regard to how a CSR committee and consistent CSR, influence corporate financial performance (CFP). Method: The study is based on the philosophy of positivism with a hypothetical deductive approach. Secondary data has been collected from Thomson Reuters Datastream with a quantitative approach. A longitudinal design has been used where data has been collected over a period of six years and the final sample has been processed and analyzed with regression analysis in IBM SPSS. Result & Conclusions: This study shows that companies’ financial performance is higher in the presence of a CSR-committee, which indicates that a company by engaging in authentic CSR-activities gets a higher financial performance. Management preferences to communicate the company's social responsibility results in a better financial performance due to a better relationship with the stakeholders Suggestions for future research: Suggestions for future research may investigate how the consistency of companies CSR is influenced by the new legislation over a longer period of time. Since the CSR-committee is influential for the financial performance we would also like to see further studies involving factors that might weaken or strengthen this relationship. Contribution of the thesis: From a theoretical perspective this study contributes to the accounting literature by investigating the relationship between financial performance and authentic CSR motives. From a practical perspective this study can be of interest for companies that are planning to implement a CSR-committee since this is an influential factor for the financial performance.

Bullying behavior is a contributing factor to hostile work environments, and can cause human consequences that affect morale, performance, and productivity. The purpose of this qualitative exploratory case study was to identify the strategies that ombudsmen and human resource managers (HR) use in mitigating workplace conflict. Corporate social performance was the conceptual framework that guided this research. Nine HR managers, an ombudsman representative, and 8 ombudsmen located in New York City and in other states were interviewed based on their experience in conflict mitigation. Data extracted from the participants' shared stories along with position description documents were synthesized thematically and analyzed for emergent themes. Six themes emerged through analysis: neutrality, trust, interactive coaching competencies, contrasting roles, preventive conflict mitigation strategies, and systemic and cultural analysis. The theme of trust emerged as a key strategy to resolve conflict. The implications for social change include increased organizational accountability, fairness, security, and reduction of discrimination as the work of ombudsmen indirectly lead to cultural changes within organizations.

This study investigates the relationship between corporate social performance (CSP)and corporate financial performance (CFP) within the context of a particular CSPelement: environmental investment. Two models of the determinants of companies’environmental investment are estimated in order to capture the difference betweenfirms’ actual and expected level of environmental investment. The regressionresiduals are used as our measure of corporate social performance. Both market-basedand accounting-based measures of financial performance are applied to representcorporate financial performance. With the analysis of a sample encompassing 223Chinese heavy-polluting companies, we have found that it is more likely to observe asignificantly positive relationship between firms’ environmental endeavors and theiraccounting-based financial performance among firms that are more active to disclosecorporate information. Besides, building on our empirical findings that corporatesocial performance is positively correlated with accounting-based financialperformance but has no correlation with market-based financial performance, wesuggest a priority for managers from Chinese heavy-polluting industries when theyfulfill social demands of various stakeholders.

CoordenaÃÃo de AperfeiÃoamento de Pessoal de NÃvel Superior / O estudo analisa como caracterÃsticas organizacionais e do ambiente institucional no qual as empresas se inserem, podem influenciar no seu desempenho social corporativo (DSC). Segundo a Teoria dos Stakeholders algumas caracterÃsticas das empresas podem ser influenciadas por seus grupos de interesse, de forma que, essa influÃncia pode afetar a predisposiÃÃo que elas tÃm de se engajarem em prÃticas socialmente responsÃveis, refletindo no seu DSC. AlÃm disso, essas prÃticas socialmente responsÃveis tambÃm sofrem influÃncia do ambiente institucional no qual as empresas estÃo inseridas. De acordo com a Teoria do Sistema de NegÃcios, existem alguns aspectos chave que moldam o Sistema Nacional de NegÃcios em um paÃs como o intervencionismo do estado e a corrupÃÃo, o grau com que um paÃs adota um mercado de capitais, seu sistema educacional e de trabalho. Essas caracterÃsticas institucionais acabam moldando as prÃticas gerenciais e, consequentemente, dÃo um padrÃo na forma como as empresas atuam, incluindo aà suas decisÃes acerca de prÃticas socialmente responsÃveis. Para avaliar como essas caracterÃsticas financeiras e institucionais moldam o DSC, realizou-se uma pesquisa descritiva e quantitativa, que utilizou dados secundÃrios de empresas Brasileiras e Canadenses, no perÃodo de 2007 a 2014. As empresas selecionadas foram aquelas dos setores de utilidade pÃblica, petrÃleo e gÃs e materiais bÃsicos, presentes na lista Forbes 2000, no ano de 2008. O DSC foi calculado a partir de informaÃÃes dos relatÃrios de sustentabilidade publicados pelas empresas durante o perÃodo avaliado, enquanto as caracterÃsticas financeiras foram retiradas dos relatÃrios anuais e as caracterÃsticas institucionais foram medidas por meio de indicadores de diversos ÃrgÃos internacionais: Banco Mundial, World Economic Forum (WEF), The Heritage Foundation, Transparency International e Programa das NaÃÃes Unidas para o Desenvolvimento (PNUD). Na anÃlise dos resultados, foram utilizadas tÃcnicas de estatÃstica descritiva, testes de hipÃteses como Teste T e Teste de Wilcoxon, anÃlise de clusters e regressÃo de dados em painel e regressÃo hierÃrquica linear. Os resultados mostram que o ambiente institucional à mais importante do que as caracterÃsticas financeiras das empresas na determinaÃÃo do DSC. AlÃm disso, o ambiente institucional brasileiro à permite que as empresas adotem uma estratÃgia mais orientada para a gestÃo de seus recursos do que o ambiente canadense. Evidenciou-se ainda que as caracterÃsticas do ambiente institucional brasileiro e canadense influenciam de modo oposto o DSC. / The study analyzes how organizational features and the institutional environment in which companies operate, may influence their corporate social performance (CSP). Stakeholder Theory says that some business characteristics can be influenced by their groups of interest, and this may affect their willingness to engange in socially responsible practices, reflecting on their CSP. Moreover, these socially responsible practices are also influenced by the institutional environment they operate. According to the business-system approach, there are some key aspects that shape the national business system of a country like corruption, the degree of state interventionism, the degree to which the country adopts a capital market and its educational and job systems. These institutional features end up shaping management practices and hence standardizes the way companies operate, including their decisions about socially responsible practices. In order to evaluate how these financial and institutional characteristics shape CSP, a descriptive and quantitative research was conducted, using secondary data from Brazilian and Canadian companies that ranged from 2007 to 2014. The companies selected were those of utility, oil and gas operations and materials sectors, that were in the Forbes 2000 list in the year 2008. The CSP was calculated using information from sustainability reports published by those companies during the analyzed period. The financial characteristics were taken from annual reports and the institutional aspects were measured by indicators from several international organizations: World Bank, World Economic Forum (WEF), the Heritage Foundation, Transparency Interational and the United Nations Development Programme (UNDP). In order to analyze the data, it was used descriptive statistics, hypothesis testing such as T test and Wilcoxon test, cluster analysis, panel data regression and hierarchical linear regression. The results show that the institutional environment plays a more important role than financial characteristics in determining the CSP. In addition, Brazilian institutional environment allows companies to adopt a more resource oriented strategy than the Canadian environment. The results also show that the Brazilian and Canadian institutional characteristics influence CSP in an opposite way.

Die Dissertation beschäftigt sich mit der Definition von Corporate Social Performance im ersten Teil. Hierbei wird zuerst geklärt, weshalb eine Definition notwendig ist und ob in empirischen Studien verwendete Maße die verwendeten Definitionen abbilden. Nachfolgend wird ein Definitionsvorschlag aus bekannten Definitionen entwickelt. Im zweiten Teil der Arbeit wird geklärt, welche Faktoren dazu führen, dass Unternehmen eine soziale Berichterstattung haben und ob diese Art der Berichterstattung auch zur finanziellen Leistung von Unternehmen beitragen kann.

Syfte: Det finns idag en förväntan från ägare, kunder och andra intressenter att företag ska rapportera sitt hållbarhetsarbete då hållbarhet vanligtvis syftar till att ta ansvar för sina egna behov samtidigt som den framtida generationen står i fokus. Banksektorn spelar en stor roll i samhället genom deras roll som kapitalleverantörer för den globala utvecklingen, vilket leder till att det också finns ett stort intresse av att de arbetar med hållbarhetsfrågor. En hållbar banksektor är av väsentlig betydelse för ett lands hållbarhetsmål och fortsatta utveckling. Syftet med studien är därmed att undersöka sambandet mellan bankers hållbarhetsprestation, mätt med SOC-Score, och lönsamheten inom den globala banksektorn med fokus på socialt ansvar. Metod: Detta är en kvantitativ studie utförd med en hypotetisk-deduktiv ansats. Sekundärdata har samlats in från Thomson Reuters databas Refinitiv Eikon där 341 banker har analyserats med en longitudinell design för åren 2016–2020. Univariat, bivariat samt multivariat analys av sekundärdata har skett i statistikprogrammet SPSS. Resultat & slutsats: Resultatet av studien visar att det saknas signifikant samband mellan SOC-Score och de beroende variablerna ROA och ROE på den globala banksektorn. Detta medför att studien inte kan dra några direkta slutsatser om det finns ett positivt samband eller inte mellan dessa variabler. Trots att studien saknar signifikant samband, visar studiens regressionsanalyser ändock på att SOC-Score och lönsamheten har en mer negativ relation än en positiv. Examenarbetets bidrag: Studien bidrar till ökad kunskap gällande sambandet mellan finansiell prestation och socialt hållbarhetstagande inom den globala banksektorn. Vi författare hoppas även kunna främja ett mer hållbart arbetssätt.  Förslag till fortsatt forskning: Trots att studien inte genererade ett signifikant samband i banksektorn, visade studiens resultat på ett negativt samband mellan lönsamheten och SOC-score. Det vill säga att det uppstår en kostnad att hållbarhetsrapportera. Vi författare anser att det hade varit intressant att jämföra banker som inte hållbarhetsrapporterar, för att se om de bankerna har sämre lönsamhet än de banker som hållbarhetsrapporterar. Även om det är kostsamt att arbeta med hållbarhet, kanske det ändå är mer lönsamt än att inte göra det alls. Vidare skulle även avgränsningar kunna göras, eventuellt att fokusera på ett visst land eller världsdel.