Pension funds and contests for corporate control

Article Abstract:

This article examines the role that pension funds play in contests for corporate control. Against the background of the traditional, passive 'Wall Street Rule,' the author describes how the phenomenal growth of pension funds and the advent of hostile takeovers have led to more active involvement in corporate affairs for both private and public pension funds. He examines the conflicts of interest that many financial institutions face in making decisions that could affect business relationships with their corporate clients and suggests remedial measures to discourage improper conduct. He also discusses the growing activism of public pension funds, including the establishment of the Council of Institutional Investors. Public fund activism, he concludes, at least on corporate governance matters, serves the interests of both plan participants and the general public. (Reprinted by permission of the publisher.)

Management, Economic aspects, Finance, Services, Acquisitions and mergers, Pension funds, Corporate reorganizations, Corporate corruption, Corporate anti-takeover measures, Antitakeover strategies, Council of Institutional Investors

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The corporate social policy process: beyond business ethics, corporate social responsibility, and corporate social responsiveness

Article Abstract:

This article examines three concepts - business ethics, corporate social responsibility, and corporate social responsiveness - that have been used to evaluate corporate social performance. It explores the similarities and differences among them. It then introduces a fourth concept, the corporate social policy process, which integrates the key elements of the three concepts. The corporate social policy process represents a system of individual and collective moral reflection and choice within the corporation. It is not an ad hoc system, but an institutionalized one that can help improve the way in which the corporation operates in a rapidly changing social environment with value pluralism. (Reprinted by permission of the publisher.)

Business enterprises, Corporate culture, Responsibility

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Finding the common ground in Russian and American business ethics

Article Abstract:

Business ethics in Russia are changing as is the very nature of business itself. This article compares Russian and American conceptions of ethics in business using a framework of ethical and unethical practices in both countries. While Americans may consider some current Russian business practices to be questionable or even unethical, they may fail to appreciate that the reverse is true as well. The article also presents a series of recommendations for American managers doing business with Russians to assist them in interpreting their own, as well as Russian, business behavior in order to develop business practices that will be ethically acceptable to both. (Reprinted by permission of the publisher.)

International aspects, Russia, Corporations, Russian

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