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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
191

An international division of nature: The effects of structural adjustment on agricultural sustainability / Effects of structural adjustment on agricultural sustainability

Mancus, Philip Michael 06 1900 (has links)
xiii, 182 p. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number. / Representing a distinct contribution to the tradition of comparative international research in the environment, this dissertation studies the effects of national economic restructuring programs, implemented under the administration of multilateral development institutions, on the fertilizer intensity, energy intensity, and value efficiency of national commodity agriculture for the period 1980 to 2002. Known as structural adjustment, these conditional loan agreements have been thoroughly studied with respect to various social outcomes but in terms of environment impact, sociological investigation has been limited to case studies and to preliminary quantitative analyses of deforestation. Examining the consequences of structural adjustment on soil fertility management is a unique contribution to the field. Combining empirical work with theoretical explication, I frame the object of study using agrarian systems theory and the concept of societal metabolism, examining how the problem of soil fertility in the modern era has become subsumed into industrial processes that are fossil-energy intensive. Relating this historical development to the ongoing dialectic between the forces, relations, and conditions of production, I investigate how the international division of labor, manifested in the uneven and combined development of national economies, facilitates an international division of nature and thereby reproduces the hierarchical system of appropriation that drives the ongoing global expansion of the metabolic rift. Laying out competing theoretical perspectives on the potential for rational management of agricultural modernization, in the empirical component of this project I employ cross-sectional time-series panel regression analysis of secondary data on national development indicators in order to evaluate the relative merits of these contrasting theories for the sustainable development possibilities of Third World nations. The cumulative effects of structural adjustment significantly and independently increase the negative externalities of agricultural modernization while at the same time diminishing the potential economic efficiency of intensive nutrient management. / Committee in charge: Richard York, Chairperson, Sociology; John Foster, Member, Sociology; Robert 0 Brien, Member, Sociology; Joseph Fracchia, Outside Member, Honors College
192

Esoterika - historický vývoj a postoj římsko-katolické církve / Esotherics - Historical Development and The Roman Catholic Church Attitudes

ŠERÁ, Veronika January 2007 (has links)
The work describes historical development of esotherics and its related fields. It tracks the history line back to the ancient cultures that lay the grounds for the New Age understanding of magic as well as astrology and tarot. It studies the Middle Ages and the present when new religions not only came to existence but they also have made great development since.
193

CSR som affärsmodell : Ett steg närmare ett mer hållbart samhälle

Ervik, Marcus, Emriksson, Jimmy, Kobaslic, Amar January 2018 (has links)
Corporate Social Responsibility (CSR) handlar om hur företag kan ta ansvar för det samhälle som de verkar inom och innefattar såväl miljöansvar som socialt ansvar. Det är ett högaktuellt ämne som diskuterats länge, men som fick fart under 50-talet. Som ett resultat av diskussionen har trycket på att företag ska bedriva ett CSR-arbete ökat från såväl kunderna och konsumenterna som från andra intressenter som påverkas av företagets arbete. För att hantera de ökande förväntningarna kan företag implementera CSR i deras affärsmodell.Syftet med studien är därför att skapa förståelse för hur CSR kan implementeras i ett företags affärsmodell. För att uppfylla syftet har en kvalitativ studie utförts. Den empiriska datan samlades in genom telefonintervjuer hos ett företag som ligger i framkant med sitt CSR-arbete. Den teoretiska referensramen syftar till att skapa förståelse för de aspekter av CSR som är särskilt relevanta för ett företags affärsmodell. Den teoretiska referensramen täcker miljö- och samhällsansvar, kommunikationsstrategier, CSR-initiativ, intressenter, CSR-kommunikation, konkurrensfördelar samt motivationsfaktorer. För att ett företag ska kunna implementera CSR i sin affärsmodell krävs ett noga genomtänkt arbete inom samtliga delar av företagets affärsmodell. I ingen av affärsmodellens beståndsdelar får CSR-aspekten ignoreras, eftersom CSR-arbetet bör vara integrerat i samtliga delar av affärsmodellen. Detta innebär inte att företaget inte kan välja att lägga mer fokus på specifika delar av affärsmodellen. Företaget bör däremot känna till att det kan uppstå problem om en del av affärsmodellen är alltför bristfällig, eftersom alla delar av affärsmodellen hör ihop. Ett företag bör dessutom ha en god kommunikation med deras intressenter och resten av marknaden, ta ansvar för samhället och miljön, känna till deras konkurrensfördelar och kontinuerligt arbeta med olika CSR-initiativ. / Corporate Social Responsibility (CSR) is about companies and their responsibilities towards the society in which they operate. The term covers societal- as well as environmental responsibilities, which are topics that have been discussed for a long time, especially since the 50’s. As a result of the discussion, consumers, customers and other stakeholders have increased their expectations on corporate responsibilities. To better cope with the increasing expectations, a company can implement CSR into their business model. This led to the purpose of the paper, which is to create an understanding of how CSR can be implemented into a company's business model. To fulfill the purpose, a qualitative research has been conducted. The empirical data was gathered through phone interviews and the interviewed company was chosen for being known for their CSR. The chosen theoretical framework covers aspects that are considered to be connected to the components of a business model. The theoretical framework covers societal- and environmental responsibilities, communication strategies, CSR-initiatives, CSR-communication, competitive advantages and motivational factors. A company needs to dedicate a considerable amount of time into evaluating and deciding on how to implement CSR into each component of their business-model. None of the components of a company's business model can be left out from the CSR work that the company wishes to conduct. If one component is inadequate, the whole company can be affected since all the components are well connected. However, the company can still decide on which parts of the business-model they want to put emphasis on. The company should have a good communication with their stakeholders and the rest of the market, take responsibility for the society and the environment, know their competitive advantages and continuously work with different CSR-initiatives.
194

A formação de professores para a educação profissional e tecnológica na perspectiva da educação ambiental: desaceleração do tempo e desfragmentação do currículo

Souza, Marco Antônio Simões de January 2013 (has links)
Submitted by Josiane ribeiro (josiane.caic@gmail.com) on 2016-03-31T20:10:37Z No. of bitstreams: 1 tese-marco-entregue.pdf: 3231140 bytes, checksum: c694c680dd1983dbf8356804df58ed79 (MD5) / Made available in DSpace on 2016-03-31T20:10:37Z (GMT). No. of bitstreams: 1 tese-marco-entregue.pdf: 3231140 bytes, checksum: c694c680dd1983dbf8356804df58ed79 (MD5) Previous issue date: 2013 / Este trabalho analisou a contribuição das propostas de formação de professores para a Educação Profissional e Tecnológica da instituição ETFPEL/CEFET-RS/IFSUL para problematizar o dilema da EPT entre formação integral e formação para o mercado, sob a perspectiva da Educação Ambiental. A pesquisa teve caráter qualitativo e suas informações foram produzidas a partir dos pressupostos da Pesquisa Documental, na perspectiva dos autores Marc Bloch e Jacques Le Goff, a partir do conceito de documento/monumento. Para tanto, foram analisados os projetos pedagógicos dos cursos de formação de professores realizados na instituição investigada, no período de 1986 a 2011. As informações foram organizadas em três grandes períodos de análise, de acordo com as transformações pelas quais passou a instituição, de Escola Técnica Federal a Centro Federal e atualmente Instituto Federal. Estes três períodos constituem os modelos adotados para formação dos professores, segundo a legislação para a EPT. As informações foram analisadas segundo o método da Análise Textual Discursiva, que consistiu na unitarização das informações, seu agrupamento em categorias iniciais, intermediárias e finais. As categorias emergentes da análise foram: a fragmentação curricular e a aceleração da formação de professores para a EPT. Estas categorias são discutidas nesta tese sob a perspectiva de Zygmunt Bauman, em sua crítica ao modelo societário ocidental contemporâneo, trazendo a fragmentação e a aceleração como fatores inerentes ao processo de progressiva comodificação das pessoas, ou seja, a conversão progressiva das relações humanas ao modelo das relações de mercado. Nesse sentido, a tese defendida, a partir da constituição histórica do IFSUL como lócus da formação dos seus docentes, é que a formação para a EPT seja constituída nos próprios Institutos Federais. No entanto, seria necessário atenção à tendência de aceleração do tempo, fragmentação do currículo e transformação da formação da EPT em mercadoria, a fim de possibilitar uma perspectiva ambiental de formação integral. / This work investigated the contribution of the EPT Teacher Education proposals in ETFPEL/CEFET-RS/IFSUL to debate the dilemma between comprehensive education and labor market training, according to Environmental Education‟s perspective. This was a qualitative research whose information was provided under Documentary Research principles, according to Marc Bloch and Jacques Le Goff‟s “document/monument” concept. For this purpose, we analyzed the pedagogical projects of Teacher Education courses led by the institution from 1986 to 2011. Then the information was arranged in three periods and analyzed according to the changes that occurred in the institution, from Technical High School to Federal Center and then Federal Institute for Education, Science and Technology. These three periods also correspond to three different Teacher Education proposals, according to EPT Brazilian laws. Then we used Discursive Textual Analysis as a method for analyzing the information, by dividing it into units, then into initial, intermediate and final categories. The final categories that emerged from the analysis were Curricular Fragmentation and EPT Teacher Education‟s Acceleration. These categories are discussed in this work, according to Zygmunt Bauman‟s critique of the Contemporary Western Societal model. This author considers fragmentation and acceleration as inherent factors in this societal model that lead to progressive commoditization of people, that means, the progressive conversion of human relationships to market rules. So we argue that, because of the historical constitution of IFSUL as the place for its own Teacher Education, other Federal Institutes should also be the appropriated place for that. However, attention should be given to avoid the tendency of curricular fragmentation, time acceleration and commoditization of the Teacher Education courses, in order to enable an environmental perspective for Comprehensive Education.
195

A dimensão política das competências dos executivos na sua relação com os stakeholders

Boulos Filho, Sami 26 February 2009 (has links)
Made available in DSpace on 2016-03-15T19:26:44Z (GMT). No. of bitstreams: 1 Sami Boulos Filho.pdf: 815593 bytes, checksum: dc99271dddfaca5f185c955471218f5a (MD5) Previous issue date: 2009-02-26 / Fundo Mackenzie de Pesquisa / The aim of this study is to identify and analyze the competences of managers regarding to their managing responsibility to stakeholders. It refers to the political competence dimension that influences the decision making process of professionals in managing positions and reflects the responses to the unbalanced interests. Societal competence definition of Holland, Ritvo e Kovner (1997), stakeholders concept of Clarkson (1995) and competence concept of Zarifian (2003) were considered as basis. The methodological strategy adopted was basic qualitative studies, proposed by Merrian (1998), and fundamental technique was semi-structured interviews with ten directors and three presidents of different organizations, from retail, chemical, publishing, finance, media, electronic, pharmaceutical, food, transport and technology. The group selection was conducted in order to assure managers in decision-making position, not necessarily working neither in the same organization, nor in the same market segment. The procedures of textual interpretative analysis and templates techniques have based the analytical process. Analysis of documents was also utilized, based on documents released by managers regarding their activities within stakeholders relationship. Results achieved show that managers restrict the number of stakeholders in their decision-making processes. They consider some of none or little relevance, apparently without taking into consideration the fact those stakeholders sometime may make use of the power they have against organizations. Finally, it was not identified the societal competence mobilization, as proposed by Holland, Ritvo e Kovner (1997). Otherwise, it was noticed some intent to search for information on stakeholders demands, restricted to those considered as primaries, and limited to those groups involved in a specific event. The competence development depends on a reflexive process, on balance practice, which will take place when managers review the meaning of their relationship with stakeholders. / O estudo realizado tem por objetivo identificar e analisar as competências dos gestores no que diz respeito à suas responsabilidades gerenciais para com os grupos de interesse da organização, os stakeholders. Trata-se de entender a dimensão política da competência que afeta as decisões dos gestores em cargos de direção e se traduzem em respostas aos desequilíbrios de interesses. Partiu-se da definição de competências de relacionamento coletivo de Holland, Ritvo e Kovner (1997), do conceito de stakeholders de Clarkson (1995) e da visão de competências de Zarifian (2003). Adotou-se a estratégia metodológica dos estudos qualitativos básicos, proposta por Merrian (1998), utilizando-se como técnica fundamental de análise entrevistas semi-estruturadas, realizadas com dez diretores e três presidentes de diferentes organizações, dos segmentos de varejo, química, editorial, financeiro, mídia, eletro-eletrônico, farmacêutica, alimentos, transportes e tecnologia. A seleção do grupo foi direcionada de forma a assegurar a presença de gestores que estivessem atuando nos níveis hierárquicos decisórios, não necessariamente na mesma empresa, tampouco no mesmo segmento de mercado. O processo analítico foi inspirado na análise textual interpretativa de Flores (1994) e na técnica de templates. Realizou-se também a análise documental, com base nos documentos fornecidos pelos entrevistados acerca das atividades que envolvem suas relações com os stakeholders. Os resultados alcançados apontam que os gestores buscam restringir o número de stakeholders; consideram alguns de pouca ou nenhuma relevância, aparentemente sem se preocupar com o fato de que tais stakeholders podem, em algum momento, exercer a força que possuem junto às organizações. Conclui-se que não foi identificada, pelos gestores, a mobilização das competências de relacionamento coletivo, como proposto por Holland, Ritvo e Kovner (1997). Porém, encontraram-se alguns aspectos pontuais na busca por informações acerca das demandas de parte dos grupos interessados, notadamente os stakeholders primários, e, assim mesmo, limitados aos grupos envolvidos em determinados eventos. O desenvolvimento de tal competência depende, porém, de um processo de reflexão, de exercício de equilíbrio, que só ganhará força no momento em que os gestores revirem o significado que a relação com stakeholders tem para eles.
196

Desenvolvimento de competências para a sustentabilidade: um estudo sobre a gestão de projetos societais sob a perspectiva de grupos

D´angelo, Marcia Juliana 20 August 2009 (has links)
Made available in DSpace on 2016-03-15T19:26:45Z (GMT). No. of bitstreams: 1 Marcia Juliana DAngelo.pdf: 1369105 bytes, checksum: 155ce49559bd35c0c32762d196e45c8a (MD5) Previous issue date: 2009-08-20 / Fundo Mackenzie de Pesquisa / The purpose of this study was to describe and understand the collective competence development process, in perspective of groups, committees or councils for sustainabiliy issues, on societal projects management at organizations. It was explored here how theses groups, responsible for implementing such initiatives, understand the concepts of sustainable development and sustainability and building up concrete actions practices and policies in consonance with the business goals of the organizations. It was based on competence interpretative approach by Jörgen Sandberg s studies on understanding of work and on Karl Weick s studies on sensemaking to analyse the understanding of sustainability, the basis for groups competence development at work. Therefore, it was conducted a basic interpretive qualitative research in five multinational and three national organizations. The data were collected through semi-structured interviews and documentary analysis. It was used the codification method for data reduction and analysis by Flores (1994). The results show the circularity of societal competence development from spoused pre-understandings on originated in the individual s social action context of upbringingp, education and work, which provides the basic framework for understanding of work in groups. Findings suggest that the way of understanding work the meaning work in groups still is not a change in the way of running business at organizations, but continuous refinements from spoused preunderstandings on. / Esta pesquisa teve como objetivo descrever e compreender o processo de desenvolvimento de competências coletivas, sob a perspectiva de grupos, comitês ou conselhos voltados às questões de sustentabilidade, na gestão de projetos societais nas organizações. Pretendeu-se conhecer como estes grupos, responsáveis pela implementação de tais iniciativas, entendem os conceitos de desenvolvimento sustentável e sustentabilidade e traduzem seus princípios em ações concretas e competentes práticas e políticas em consonância com as metas de negócios das organizações. O estudo apoiou-se nos autores interpretativistas em competências, especialmente Jörgen Sandberg, que trabalha com a construção de significado de trabalho e também nos estudos de sensemaking de Karl Weick para analisar a construção de significado de sustentabilidade, que é a base para os grupos desenvolverem suas competências. Para tanto, foi conduzido um estudo qualitativo interpretativo básico em oito organizações cinco multinacionais e três nacionais. Os dados, coletados por meio de análise documental e de entrevistas semi-estruturadas, foram analisados segundo o processo de análise de dados qualitativos proposto por Flores (1994). Os resultados mostram a circularidade do desenvolvimento de competências societais a partir dos présignificados esposados originados nos contextos de formação, educação e trabalho do indivíduo, que são a base para a criação do significado de trabalho dos Grupos. Conclui-se que o significado de trabalho desses Grupos ainda não é uma revisão da forma como os negócios devem ser conduzidos, e sim refinamentos contínuos a partir dos pré-significados esposados.
197

Vilka konsekvenser kan en järnvägsutredning få för tätortsutvecklingen? : En konsekvensanalys av utredningsområdet: Stationsläge Piteå

Jonsson, Peter January 2017 (has links)
Bakgrunden till denna studie är framdragningen av kustjärnvägen Norrbotniabanan mellan Umeå och Luleå med stationslägen i bland annat Skellefteå och Piteå. Järnvägen är en miljövänlig transportlösning för gods men också för persontransporter, som bidrar till att binda samman hela kustlandet. När nya infrastruktursatsningar ska genomföras föregås de av ingående utredningar. De ska klargöras när, var och hur satsningen ska genomföras och av vem. Finansieringen av projektet är också en viktig fråga, är det privata aktörer eller är det samhället som ska betala. Är det samhället som ska finansiera projektet är det av stor vikt att klargöra om effekterna av åtgärden är samhällsekonomiskt hållbara. Dessa infrastruktursatsningar blir ofta identifierade som riksintressen. Tolkningen av riksintressenas överlägsna ställning vid mark- och vattenanvändningsplanering gör att det infaller ett investeringsvakuum direkt Trafikverket identifierat ett infrastrukturprojekt som är av rikets intresse för kommunikationer. Syftet med denna studie är att utreda de konsekvenser som en framdragning av viktig infrastruktur som Norrbotniabanan har på tätortsutvecklingen under utredningsarbetet av projekten och svara på följande frågeställningar: <ol type="1">  Vad innebär järnvägsutredningar för tätortsutvecklingen före byggstarten av järnvägen? <ul type="disc"><ul type="disc">Vilka är de negativa konsekvenserna för den kommunala tätortsutvecklingen av utredningsarbetet? Vilka är de positiva konsekvenserna för den kommunala tätortsutvecklingen av utredningsarbetet? <ol type="1">Hur kan de negativa konsekvenserna av en järnvägsutredning minimeras? Hur kan de positiva konsekvenserna av en järnvägsutredning tillvartas? För att svara på frågeställningarna har en abduktiv ansats med kvalitativa metoder använts i denna studie. En systematisk litteraturstudie har kompletterats med semistrukturerade intervjuer. För att ytterligare fördjupa förståelsen har en Planstudie genomförts av Piteå kommuns översiktsplan samt påverkade detaljplaner. De viktigaste slutsatserna av denna studie är att utredningskorridoren för Norrbotniabanan har påverkat tätortsutvecklingen i Piteå kommun negativt. Hur stora de negativa konsekvenserna varit är svårt att konkretisera. De negativa konsekvenserna som framkommit av studien är bland annat: Skapar osäkerhet, med allt vad det innebär av uteblivna investeringar i verksamheter men också bostadsbyggande. Förbättringsåtgärder försvåras på befintliga anläggningar. Påverkar fastighetsmarknaden negativt då försäljningar uteblir. Skapar planeringssvårigheter, eftersom alternativa lägen ofta måste väljas. Påverkar tillgången på etableringsbar mark i kommunen. Verksamhetsmarken i kommunen är slut och önskvärda etableringslägen för bostäder i centrum påverkas. En positiv konsekvens av utredningsarbetet för Norrbotniabanan är att det planeras för en regionsammankopplande järnväg. / The background to this study is the development of the Norrbotniabanan coastal railway between Umeå and Luleå with including stations in Skellefteå and Piteå. The railroad is an environmentally friendly solution for goods but also for passenger transport, which helps to tie together the entire coastal region. When new infrastructure initiatives are to be implemented, they are preceded by in-depth investigations. It has to be clarified when and how the investment will be carried out and by whom. Financing the project is also an important issue, is it private actors or is the society going to pay. If the society is financing the project, it is important to clarify whether the impact of the measure is socio-economic. These infrastructure initiatives are often identified as national interests. The interpretation of the supreme position of national interest in land and water use planning makes it an investment vacuum area directly The Swedish Transport Administration (Trafikverket) has identified an infrastructure project that is of the public interest in communications. The purpose of this study is to investigate the impact of a project on important infrastructure like Norrbotniabanan has on urban development during the investigation of the project and answer the following questions. What do railway investigations mean for urban development before the construction of the railway? What are the negative consequences for the municipal urban development of the investigations? What are the positive consequences for the municipal urban development of the investigations? How can the negative impact of a railway investigation be minimized? How can the positive consequences of a railway investigation be improved? To answer the questions an abductive approach whit qualitative method has been used in this study. A systematic literature study has been supplemented with semi structured interviews. To further deepen the understanding, a Plane study has been conducted by Piteå municipality's overview plan and affected detailed plans. The main conclusions of this study are that the investigation corridor for Norrbotniabanan has negatively affected urban development in Piteå municipality. How big the negative consequences have been is difficult to concretize. The negative consequences identified by the study include: • Creates uncertainty, with all that it means of missing investments in businesses but also housing construction. Improvement measures are made difficult at existing facilities. Have effects on the property market in the municipality, due to missing house sales. • Creates planning difficulties, because alternative modes often have to be selected. Have effects on the availability of plannable land in the municipality. The industrial in the municipalities have ended and desirable establishments for housing in the center are affected. A positive consequence of the investigations work for the Norrbotniabanan railway is that it is planned for a regional connecting railway.
198

The critical role of social capital in strategic sustainable development

Bruce, Niklas, Daly, Elaine, Horton, Paul January 2013 (has links)
The primary intent of this thesis was to determine if and how the practice of Art of Hosting, a dialogue–based, participatory process architecture, could foster social capital in communities and other large, complex social systems working to address a variety of complex challenges, in order to draw conclusions that could contribute, in a meaningful way, to the advancement of strategic sustainable development (SSD). We hoped to gain useful insights by examining and interpreting the results from two case study systems existing within very different social contexts and with very different organizational structures: Columbus, Ohio and the European Commission. Based on the results of our research, strategic recommendations, guidelines and tools were developed for SSD practitioners wishing to assess the level of social capital in the systems in which they operate and take strategic steps to increase it. These same recommendations, guidelines and tools should also be helpful for Art of Hosting practitioners working to address complex societal challenges in general. Overall, the authors of this thesis believe that these results hold particular significance for any collaborative or multi-stakeholder effort to build support for adoption, and ensure the successful implementation, of sustainability goals and programs. This could include Eco-Municipalities, Transition Towns, Agenda 21 Communities, Smart Cities, and large complex organizations such as multi-national corporations or universities, to mention but a few. / <p>daly.elaine2013@gmail.com</p>
199

Lad or Dad? : An analysis of some of the discourses found in fatherhood books in Britain

Rehnberg, P-O January 2013 (has links)
In Britain, fathers are allowed just two weeks of paid paternity leave while mothers may take out 26 weeks of paid maternity leave. (DirectGov.uk, 2012). It could seem, then, that the mothers are expected to do most of the child rearing. This essay investigates if this is true by examining discourse in three British books for fathers-to-be; Rob Kemp’s (2010) The expectant dad’s survival guide, Andrew Watson’s (2011) Down to Earth with a bump – The diary of a first-time dad, and Tim Atkinson’s (2011) Fatherhood – The essential guide. These books have all been amassed into a corpus and they are analysed using methods developed by Paul Baker (2006).This essay aims to find out what discourse is used, and what the expectations are on fathers-to-be in the UK by examining three popular books on fatherhood. Jane Sunderland’s (2002) study of fatherhood discourses in general parenting books will serve as a background to this study: In her study, Sunderland (2002) presented a thesis of the father as someone who assists with the child-rearing rather than doing any actual child-rearing himself. This thesis will be tested in this study, as will a claim by Andrew Watson (2011) that “we all face fatherhood reluctantly and need a desperate gag in every paragraph to stop us losing interest and turning on the telly?” (Watson, 2011: viii).As will be shown, the situation is more complex and fathers are actually expected to be involved in the child-rearing as much as they are able. This study shows that some fathers actually lament the fact that, for various reasons, they cannot be more involved. The books actually do have a more progressive view on fatherhood than they first appear to, and hopefully they can inspire fathers to be ‘doers’ rather than ‘helpers’.
200

Responsabilité sociale et risque financier de l'entreprise / Corporate Social Responsibility and Financial Risk

Sandwidi, Blaise 01 December 2015 (has links)
Cette thèse examine les relations, et particulièrement les interactions, entre la responsabilité sociale des entreprises et leur risque financier. Elle propose un schéma conceptuel de ces relations et 4 études empiriques. La première examine les relations entre la performance sociétale, mesurée par les scores Vigeo, et le risque financier de 544 entreprises de l'indice Stoxx Europe 600, de 2004-2011. Elle montre que les entreprises les plus performantes du point de vue sociétal ont un risque spécifique et total faible, et une volatilité du taux de rentabilité (Roa) moindre, notamment pour les ressources humaines. La relation est positive et fortement significative si l'on considère le bêta du titre et la dispersion des prévisions des analystes. La deuxième étude porte sur la réaction des marchés financiers européens à l'émission d'alertes sociétales. Elle analyse l'apport informationnel de ces alertes par rapport à l'annonce publique des évènements qui les ont déclenchées. L'analyse de 480 alertes émises par Vigeo de 2004 à 2011 montre que les investisseurs réagissent positivement à la première alerte pour une entreprise donnée. L'alerte réduit l'asymétrie d'information entre managers et investisseurs ; en limitant le risque d'estimation des investisseurs, elle diminue leur incertitude. Les alertes relatives à l'environnement constituent un cas particulier, dans la mesure où elles ont un impact négatif sur les cours. La troisième étude teste et valide la théorie du management du risque : en cas d'occurrence d'un risque RSE (référencé par Vigeo) les entreprises les plus performantes du point de vue sociétal enregistrent des rentabilités anormales moins importantes et leur volume anormal est plus faible. La quatrième étude examine l'interaction entre risque financier et engagement RSE. Elle dépasse l'échelle européenne en considérant 23 194 observations d'Asset4 au sujet de 3 787 entreprises dans 67 pays. Elle montre que de bonnes performances ESG réduisent significativement le risque financier, spécifique et total, ainsi que la volatilité du Roa, et que les performances ESG sont positivement associées au risque si l'on considère le bêta du titre et la dispersion des prévisions des analystes. Elle met en évidence un cercle vertueux entre performance ESG et risque financier. Les pratiques sociales et de gouvernance réduisent le plus fortement ce risque. Un faible risque financier incite l'entreprise à investir en priorité dans des mesures environnementales et de gouvernance, puis dans le social.Mots clés: Risque financier de l'entreprise, responsabilité sociale de l'entreprise (RSE), Risque RSE, performance sociétale, interaction. / This dissertation examines the relations between Corporate Social Responsibility and financial risk, with a particular focus on their interactions. It proposes a conceptual scheme of these relations and 4 empirical studies. The first study examines the relation between the corporate social performance, measured by Vigeo scores, and the financial risk of 554 companies pertaining to the Stoxx Europe 600 Index, from 2004-2011. It shows that companies with higher corporate responsibility have lower specific and total risks, and lower volatility of return on assets (Roa), particularly in human resources. The relation is positive and strong when we consider the investments' beta and the analysts' forecasts dispersion. The second study examines the reaction of the European stock market to CSR alerts. It examines the alerts' informational contribution compared to the public announce¬ments of the triggering events. Based on a sample of 480 alerts released by Vigeo over the period 2004-2011, we find a positive stock market reaction to the first alert for the affected company. The alert reduces the information asymmetry between managers and investors. It limits the investors' estimation risk and thus their uncertainty. Environmental alerts are a specific case, as they affect negatively the stock prices. The third study tests and confirms the risk management theory: when a CSR risk occurs (referenced by Vigeo), higher CSR performers have lower abnormal returns and lower abnormal trading volumes. The fourth study examines the interaction between financial risk and CSR commitment. It goes beyond Europe by considering 23,194 Asset4 scores related to 3,787 companies in 67 countries. It shows that prior aggregate ESG scores are associated with reduced subsequent specific and total risks and Roa volatility, thus confirming that high ESG performers have lower financial risk. CSR performances are positively associated with the risk if we consider the investments' beta and the analysts' forecasts dispersion. The study evidences a virtuous cycle between financial risk and ESG performance. Social and governance performances contribute more significantly to reduce this risk. Prior low financial risks incite firms to invest in CSR, first in environmental and governance, then in social policies or activities.Keywords: Financial risk, corporate social responsibility, corporate social performance, corporate social responsibility risk, interaction.

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