Rethinking CSR in Australia: time for binding regulation

Thirarungrueang, Kunnawee (2013) Rethinking CSR in Australia: time for binding regulation. International Journal of Law and Management, 55 (3). pp. 173-200.

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Abstract

Purpose – This paper seeks to provide the reader with a clear insight into the discussion over the voluntary aspect of corporate social responsibility (CSR) and the attempts to introduce regulatory reforms to control corporate activities within Australia.

Design/methodology/approach – This paper evaluates the arguments regarding the need for CSR and the criticisms against its voluntary initiative, and analyses three proposed aspects for regulatory amendment in Australia: fiduciary duty, extraterritorial regulation and corporate disclosure.

Findings – This paper recognises the attributes of both the mandatory and voluntary aspects, and suggests that there needs to be a balance between both mechanisms in order to achieve a positive outcome.

Originality/value – Although, in Australia, amendment proposals have not been approved, the discussions over regulatory reform will continue. This paper will provide those involved in this field with an insight to the underlying issues over directors' duties, extraterritorial regulation and corporate disclosure. The understanding of these issues will be useful in the future development of appropriate mechanisms regarding CSR.

Item ID: 32287
Item Type: Article (Research - C1)
ISSN: 1754-2448
Keywords: corporate social responsibility, directors' duties, extraterritorial regulation, corporate disclosure, social responsibility, disclosure, corporate strategy, Australia
Date Deposited: 03 Apr 2014 00:57
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180109 Corporations and Associations Law @ 100%
SEO Codes: 94 LAW, POLITICS AND COMMUNITY SERVICES > 9499 Other Law, Politics and Community Services > 949999 Law, Politics and Community Services not elsewhere classified @ 100%
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