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2007 SELECCIÓN 2 DE ARTÍCULOS 0 0 7 SELECCIÓN DE ARTÍCULOS Instituto de Innovación Social de ESADE Promotores del Instituto de Innovación Social:

Este libro ha sido impreso en papel de ﬁ bras 100% reciclables post-consumo. Homologado internacionalmente con certiﬁ cados NAPM, Cisne Nórdico, Ángel Azul y Eco-etiqueta Europea.

2 SELECCIÓN DE ARTÍCULOS IIS 2007 SELECCIÓN DE ARTÍCULOS IIS 2007 3 Este libro a sido impreso en papel de ﬁ bras 100% reciclables post-consumo. Homologado internacionalmente con certiﬁ cados NAPM, Cisne Nórdico, Ángel Azul i Eco-etiqueta Europea.

Diseño i producción | Gráﬁ cas 94 Depósito Legal | B-5478-2008 ISBN | 978-84-88971-17-3

4 SELECCIÓN DE ARTÍCULOS IIS 2007 SELECCIÓN DE ARTÍCULOS 2007 Instituto de Innovación Social ESADE

SELECCIÓN DE ARTÍCULOS IIS 2007 5 6 SELECCIÓN DE ARTÍCULOS IIS 2007 Índice índice

Presentación 9 Introducción 10 Artículos 19

ALBAREDA, L.; LOZANO, J.M; YSA, T. 15 “PUBLIC POLICIES ON CORPORATE SOCIAL RESPONSIBILITY: THE ROLE OF GOVERNMENTS IN EUROPE” Journal of Business Ethics. (2007), núm.74.

KUSYK, S.; LOZANO, J.M. 35 “CORPORATE RESPONSABILITY IN SMALL AND MEDIUM SIZED ENTERPRISES. SME SOCIAL PERFORMANCE: A FOUR-CELL TYPOLOGY OF KEY SOCIAL ISSUES AND THEIR IMPLICATIONS FOR STAKEHOLDER THEORY” Corporate Governance: The International Journal of Business in Society. Vol. 7 (2007), núm. 4.

RODRIGO, P.; ARENAS D. 51 “DO EMPLOYEES CARE ABOUT CSR PROGRAMS? A TYPOLOGY OF EMPLOYEES ACCORDING TO THEIR ATTITUDES” Journal of Business Ethics (accepted, available online).

BALAGUER, M.R.; ALBAREDA, L. 73 “ANALISIS COMPARATIVO DE LA RENTABILIDAD FINANCIERA DE LOS FONDOS DE INVERSION SOCIALMENTE RESPONSABLES EN ESPAÑA” Análisis Financiero (2007), núm. 105.

LOZANO, J.M. 87 “L’EMPRESA SOCIALMENT RESPONSABLE” Revista Econòmica de Catalunya (2007), núm. 55.

MURILLO, D 101 “LA RSE EN LAS PYMES” Documentación Social (2007), núm. 146.

Equipo Humano 119

SELECCIÓN DE ARTÍCULOS IIS 2007 7 Índice 8 SELECCIÓN DE ARTÍCULOS IIS 2007 Presentación PRESENTACIÓN

El Instituto de Innovación Social (IIS) de ESADE nace el año 2007 fruto de la expe- riencia que ESADE ha consolidado en el campo de la responsabilidad social de la empresa (RSE) y en el de la gestión de las ONG, integrando en un único proyec- to el Instituto Persona, Empresa y Sociedad (IPES), los programas formativos para ONG y la investigación sobre las relaciones entre éstas y las empresas.

El Instituto considera que las organizaciones, tanto del sector privado como del no lucrativo, son decisivas para hacer realidad la transformación hacia una sociedad más justa y en armonía con el medio ambiente. De ahí la importancia que todas actúen con criterios éticos, de sostenibilidad y de responsabilidad. Es por ello que deseamos aportar un programa de actuaciones de gran relevancia y calidad para las empresas y organizaciones de la sociedad civil, así como situar al Instituto como uno de los centros académicos líderes a escala europea e internacional en la generación de conocimiento y la formación sobre responsabilidad social de la empresa y gestión de las ONG.

La investigación es una función primordial del Instituto, mediante la cual genera conocimiento, al tiempo que participa y orienta el debate relacionado con los problemas sociales actuales.

En estas páginas, se ofrece un resumen de la labor realizada por los profesores e investigadores del Instituto de Innovación Social de ESADE y también se ofrece de manera íntegra una selección de algunos de los trabajos de investigación publicados en los principales journals y revistas académicas.

Ignasi Carreras Director del Instituto de Innovación Social

SELECCIÓN DE ARTÍCULOS IIS 2007 9 Presentación 10 SELECCIÓN DE ARTÍCULOS IIS 2007 Introducción INTRODUCCIÓN

El Instituto de Innovación Social (IIS) de ESADE es un centro académico cuyo objetivo es desarrollar las capacidades de las personas y las organizaciones de los sectores empresarial y no lucrativo para que, en sus actividades propias, contribuyan a un mundo más justo y sostenible.

Lideramos en ESADE la formación, investigación y divulgación en las áreas de la responsabilidad social de la empresa (RSE), la ética de las organizaciones, el liderazgo social, la gestión de las ONG, y la colaboración entre empresas y tercer sector.

En el ámbito de la formación y la divulgación, el Instituto de Innovación Social participa de forma transversal en la difusión de conocimiento en ESADE, así como al público en general a través de:

z Programas de Executive Education, MBA y programas universitarios. z Publicaciones de investigaciones y estudios. z Eventos y jornadas en Madrid y Barcelona con destacados líderes académi- cos, directivos y representantes sectoriales. z Publicación de artículos de opinión en revistas especializadas y diarios generales.

En cuanto a la investigación, las principales líneas en las que se centró el instituto durante el año 2007 fueron las siguientes:

z Integración de la RSE en la estrategia de la empresa. z Políticas públicas para promover la RSE. z Transparencia y rendición de resultados. z Relación con grupos de interés. z Liderazgo y estrategia para incrementar el impacto social de las ONG. z Colaboración eﬁ ciente entre empresas y ONG.

Además, el instituto forma parte de las redes internacionales SEKN (Social Entre- prise Knowledge Network), EUROSIF (European Social Investment Forum) y EABIS (European Academy of Business in Society).

Para más información sobre nuestras actividades y nuestro equipo humano, visitar www.innovacionsocial.esade.edu

SELECCIÓN DE ARTÍCULOS IIS 2007 11 Introducción La investigación académica en el 2007 se ha materializado en las siguientes publicaciones en revistas, journals académicos y conference proceedings:

AUTOR TITULO PUBLICACIÓN ALBAREDA, L.; “La Responsabilidad Social de la Empresa y los Contabilidad y Dirección (2007), BALAGUER, M.R. resultados ﬁ nancieros”

ARENAS, D.; LOZANO, JM.; “Behind CSR: Mutual percepcions in multistake- IABS 2007 Proceedings pp.419-424. ALBAREDA, L. holder Dialogue”

ALBAREDA, L.; YSA, T. “El diseño de las políticas públicas de Responsabi- Documentación Social, (julio-sep- lidad Social de la Empresa: análisis de la colabo- tiembre 2007), núm 146. ración entre los gobiernos, las organizaciones in- termediarias y las organizaciones internacionales” ALBAREDA, L.; LOZANO, “Public Policies on Corporate Social Responsibili- Journal of Business Ethics. (2007), J.M; YSA, T. ty. The Role of Governments in Europe” núm.74.

BALAGUER, M.R.; “Análisis comparativo de la rentabilidad ﬁ nancie- Análisis Financiero (2007), núm. ALBAREDA, L. ra de los fondos de inversión socialmente respon- 105. sables en España”

BALAGUER, M. R.; ALBARE- “La Inversión Socialmente Responsable en Espa- Contabilidad y Dirección, (2007). DA, L.; LOZANO, J.M. ña: El screening de los fondos de inversión Social- mente Responsables”

CARRERAS, Ignasi. “Empresas y cambio climático” Ser Responsable (abril 2007), núm. 2

KUSYK, S.; LOZANO, J.M. “Corporate responsibility in small and medium- Corporate Governance: The Inter- sized enterprises. SME Social Performance: A national Journal of Business in So- Four-Cell Typology of Key drivers and barriers on ciety. Vol. 7 (2007), núm. 4. social issues and their implications for stakeholder theory” LOZANO, J.M. “L’empresa socialment responsable” Revista Econòmica de Catalunya (2007), núm. 55.

LOZANO, J.M. “Promoción pública de la responsabilidad social Ekonomiaz (2º cuatrimestre 2007), empresarial” núm. 65.

MURILLO, D. “La RSE en las pymes” Documentación Social (2007), núm. 146.

PRANDI, M. “La gestión de los derechos humanos en la em- Documentación Social, (2007) presa” núm. 146.

RODRIGO, P.; ARENAS, D. “La acción empresarial para el desarrollo sosteni- Documentación Social (2007), ble: clariﬁ cando algunos conceptos” núm.146.

RODRIGO, P.; ARENAS D. “Do Employees Care About CSR Programs? A Journal of Business Ethics Typology of Employees According to their Attitu- (accepted, available online). des”

URRIOLAGOITIA, L.; PLANE- “Sponsorship relationships as strategic alliances: A Business Horizons (2007), vol. 50, LLAS, M. life cycle model approach” núm.2.

ZHANG, Y.; STRAUB C.; KUS- “Making a life or making a living: Cross-cultural Cross Cultural Management: An In- YK, S. comparisons of business students work and life ternational Journal Vol. 14, Issue 3. values in Canada and France”

12 SELECCIÓN DE ARTÍCULOS IIS 2007 Introducción Capítulos de libros publicados durante el 2007: AUTOR TITULO LIBROS ARENAS, D. “Alliances, Global Governance and the Global BELIL, M. (coord). Towards a Coporate Compact” Citizenship. Barcelona Center for the Support of the Global Compact. Activity Report 2006. Barcelona: Fundació Fòrum Universal de les Cultures (Ed.), 2007. GARCÍA, L.; RUBIO, F.; ECHA- “Managing Barcelona’s Olympic Heritage”. 50191 AND CRISTOFOLI, D. (Ed.). Strate- BARRIA, L.; VERNIS, A. gic Change Management in the Public Sector. West Sussex, England: John Wiley & Sons Ltd. 2007. IGLESIAS, M. “Colaboración empresas ONG: hacia una socie- FUNDACIÓN ENCUENTRO, Informe dad mejor estructurada” España 2006. Madrid, Ed. Funda- ción Encuentro, 2007, p 53-101 IGLESIAS, M.; VERNIS, A. “Una aproximación a las fundaciones de empre- BENEYTO PÉREZ, J. M. (director); Rin- sa” cón García Loygorri, A. (coord). Tra- tado de Fundaciones. Barcelona, Ediciones Bosch, 2007, p 859-904 KUSYK, S. “Corporate Social Responsibility: a stakeholder BAJO SANJUAN, A.; VILLAGRA GAR- approach to innovation” CIA, N (ed), Conceptual evolution and practice in responsible management. Madrid: icai/icade press, 2007. LOZANO, J.M; CASTELLÓ, I. “La retórica del Poder: la RSE a debate” Informe Anual 2007. La comunicación empresarial y la gestión de los intangi- bles en España y Latinoamérica. Ma- drid, Ed. Pearson Prentice Hall, 2007. MENDOZA, X.; VERNIS, A. “L’Estat relacional i la transformació de les admi- LONGO, F.; YSA, T. (Ed.). Els escena- nistracions públiques”. ris de la gestió pública del segle XXI. Barcelona: Escola d’Administració Pública de Catalunya. 2007. MURILLO, D. “L’herència d’Adam Smith” MAYOS, GONÇAL ET AL: Fars del Pensament. Barcelona: Ed. La Bus- ca, 2007. MURILLO, D. “La economía en la comunidad, según Aristóte- D’ALCOBERRO, R. (coord.): Ética, les” Economía y Empresa. Barcelona: Gedisa, 2007. MURILLO, D. “La RSE. Por qué, cómo y hacia dónde” D’ALCOBERRO, R. (coord.): Ética, Economía y Empresa. Barcelona: Gedisa, 2007. MURILLO, D. “Rescatar la ética económica de Adam Smith” D’ALCOBERRO, R. (coord.): Ética, Economía y Empresa. Barcelona: Gedisa, 2007. SAZ-CARRANZA, A.; OSPINA, “Leadership in Interorganizational Networks”. WANKEL, C. (Ed.). Handbook of 21st S.; VERNIS, A. Century Management. Thousand Oaks, CA: Sage. 2007.

Libros publicados durante el 2007: AUTOR TITULO EDITORIAL ALBAREDA, L.; BALAGUER, Observatorio 2007 de la Inverstión Socialmente ESADE, 2007. M.R.; ARENAS, D. Responble. LOZANO, J.M.; ALBAREDA, Tras la RSE. La RSE en España vista por sus acto- Ediciones Granica, diciembre L. y ARENAS, D. res. 2007. p. 254 Lozano, J.M.; Albareda, L.; Governments and Corporate Social Responsibili- Londres, Editorial Palgrave Mcmi- Ysa,T.; Rosher, H.M. ty. Public policies beyond regulation and volun- llan, 2007. tary compliance. MURILLO, D.; DINARÈS, M. Quince casos de RSE en pequeñas y medianas ESADE, 2007. (coords.). empresas. PRANDI, M.; LOZANO, J.M. Practical Guide to Human Rights for Companies. Escola de Cultura de Pau (UAB), Esade, Ajuntament de Barcelona. 2007. Congresos atendidos por el instituto durante el 2007:

Internacional Centre for Corporate Accountabilityla (ICCA),New York, junio 2007.

European Academy for Business in Society (EABIS), 5th Annual Colloquium. ESADE, Barcelona, septiembre 2007.

International Association for Business and Society (IABS), Italia, junio 2007

Europan Business Ethics Network (EBEN), Bélgica, septiembre 2007.

United Nations Industrial Development Organisations (UNIDO), Viena, noviembre 2007.

SELECCIÓN DE ARTÍCULOS IIS 2007 13 Introducción 14 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos ALBAREDA, L.; LOZANO, J.M; YSA, T.

ARTÍCULOS “PUBLIC POLICIES ON CORPORATE SOCIAL RESPONSIBILITY: THE ROLE OF GOVERNMENTS IN EUROPE”

Journal of Business Ethics. (2007), núm.74.

SELECCIÓN DE ARTÍCULOS IIS 2007 15 Artículos 16 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Journal of Business Ethics (2007) 74:391–407 Springer 2007 DOI 10.1007/s10551-007-9514-1 Public Policies on Corporate Social Laura Albareda Responsibility: The Role of Governments Josep M. Lozano in Europe Tamyko Ysa

ABSTRACT. Over the last decade, Corporate Social Nowadays, CSR has become a priority issue on govern- Responsibility (CSR) has been defined first as a concept ments’ agendas. This has changed governments’ capacity whereby companies decide voluntarily to contribute to a to act and impact on social and environmental issues in better society and cleaner environment and, second, as a their relationship with companies, but has also affected the process by which companies manage their relation- framework in which CSR public policies are designed: ship with stakeholders (European Commission, 2001. governments are incorporating multi-stakeholder strategies. This article analyzes the CSR public policies in European advanced democracies, and more specifically Laura Albareda is currently a Research Fellow at the Institute for the EU-15 countries, and provides explanatory keys on Social Innovation, ESADE, Universidad Ramon Llull- how governments have understood, designed and imple- URL. She is principal researcher and manager of the mented their CSR public policies. The analysis has Observatory on Socially Responsible Investment in Spain. entailed the classification of CSR public policies taking Her areas of research and academic interest are Corporate into consideration the actor to which the governments’ Social Responsibility, Business Ethics, Global Gover- policies were addressed. This approach to the analysis of nance and Public Authorites, Governments and Public CSR public policies in the EU-15 countries leads us to Policies on Corporate Social Responsibility and So- observe coinciding lines of action among the different cially Responsible Investment. countries analyzed, which has enabled us to propose a Josep M. Lozano is currently Professor & Senior Researcher at ‘four ideal’ typology model for governmental action on the Institute for Social Innovation, ESADE Business School CSR in Europe: Partnership, Business in the Community, (URL). He is Co-founder of E´ tica, Economıá y Direccioń Sustainability, and Citizenship, and Agora. The main con- (Spanish branch of the EBEN) and member of the editorial tribution of this article is to propose an analytical frame- board of Ethical Perspectives and Society and Business Re- work to analyze CSR public policies, which provide a view. He was member of the Catalan Government’s Com- perspective on the relationships between governments, mission on Values, and is member of the Spanish Ministry of businesses, and civil society stakeholders, and enable us to Employment and Social Affairs’ Commission of Experts on incorporate the analysis of CSR public policies into a CSR. He has been a highly commended runner-up in the broader approach focused on social governance. European Faculty Pioneer Awards of the Beyond Grey Pinstripes and is author of Ethics and Organizations. KEY WORDS: corporate social responsibility, public Understanding Business Ethics as a Learning Process policies, governance, public–private partnership, welfare (Kluwer). state Tamyko Ysa is an Assistant Professor of the Institute of Public Management, and the Department of Business Policy at ESADE. Her areas of interest are the management of partnerships and their impact on the creation of public value; the design, implementation and evaluation of public policies, and the relations between companies and governments. She is the Introduction Principal Researcher of the Research Group for Leadership and Innovation in Public Management (GLIGP). She is Over the last decade we have seen how governments coauthor of Governments and Corporate Social Responsibility have become Corporate Social Responsibility (Palgrave MacMillan). (CSR) drivers adopting public policies to promote

SELECCIÓN DE ARTÍCULOS IIS 2007 17 Artículos 392 Laura Albareda et al.

and encourage businesses to behave in a responsible voluntary framework in which CSR is defined as a and sustainable manner (Aaronson and Reeves, reflection of how governments’ capacities to regulate 2002a, b; Moon and Sochaki, 1996; Zappal, 2003). the actions of businesses have been transformed in In this sense, governments have been involved in a relation to social and environmental issues. new type of political relationship with businesses and This voluntary approach to CSR changes gov- civil society stakeholders to promote responsible and ernments’ roles in relation to the promotion of sustainable business practices (Aaronson and Reeves, business, social and environmental practices (Midt- 2002a, b; Albareda et al., 2006; Fox et al., 2002; tun, 2005; Matten and Moon, 2005; Moon, 2004; Moon, 2004). Roome, 2005). Related to this, most of the research The purpose of this article1 is to analyze the dif- conducted on governments and CSR suggests the ferent CSR public policies adopted by European emergence of new roles adopted by governments in governments in order to promote responsible and CSR issues (Fox et al., 2002; Lepoutre et al., 2004; sustainable business practices. This research sets out Nidasio, 2004). Fox et al. (2002) put forward new from the initial hypothesis of establishing, how the public sector roles adopted by governments to design and implementation of public policies pro- enable an environment for CSR: mandatory (legis- moting CSR reveals changes in governments’ lative); facilitating (guidelines on content); partner- capacity for action and impact in social and envi- ing (engagement with multi-stakeholder processes); ronmental issues in their relationship with businesses. and, endorsing tools (publicity). In parallel, Lepoutre We mention that a unidirectional approach to the et al. (2004) review the strategic roles to be played public policy analysis neither gives an answer to the by governments managing institutional uncertainty needs of present-day societies (responsiveness), nor (activate, orchestrate, and modulate) and present does it enable us to understand the new challenges common tools for public action managing strategic facing social governance in depth. As a result, it uncertainty (public information campaigns, organi- seems limited to analyze public policies from the zational reporting, labeling, contracts, agreements, outmoded approach of ‘hard power.’ and incentives). This analysis of the role of govern- The objective of the research has been to develop ments promoting CSR, as a new approach has also an analytical framework that enables us to under- been analyzed by other authors under the new forms stand, through a more adequate methodology, of public–private partnership linked to CSR (Grib- the approaches and perspective of governments in ben et al., 2001; Nelson and Zadek, 2000) in order designing and implementing public policies to pro- to resolve social problems, to promote coordination mote CSR. with companies, social organizations, and local From here on, the article is structured as follows. governments and also to analyze the role of CSR in First, we present a review of specific research public–private partnerships as models of governance focused on governments and CSR. Second, we (Guarini and Nidasio, 2003). introduce the methodology developed to build an Another approach to the understanding of CSR analytical framework to map CSR public policies. public polices is the soft policy approach introduced Third, we propose a ‘four ideal’ typology model for by Joseph (2003), in which the role of government is governmental action on CSR based on analysis of viewed as collaborative and facilitating through the the CSR public policies in 15 EU countries. use of soft tools and means – always in collaboration Fourth, we present key elements for further with the private sector. research. Second, there is a common perception that CSR is a process through which companies manage their What we learn from the literature focused social and environmental impacts taking into acco- on governments and CSR unt their relationship with stakeholders (European Commission, 2001). Most business ethics scholars Over the last few years, CSR has been defined as a have made important attempts to link CSR practices concept whereby companies decide voluntarily to with stakeholder management (Carroll, 1989, 1991; contribute to a better society and cleaner environ- Clarkson, 1998; Donaldson and Dunfee, 1999; ment (European Commission, 2001). This new Freeman, 1998) and the stakeholder approach has

18 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos The Role of Governments in Europe 393 been integrated as part of the concept of corporate Paper ‘Promoting a European Framework for Cor- citizenship (Waddock, 2002). porate Social Responsibility’ (2001), the Commu- Related to this, some studies point to the devel- nication ‘Corporate Social Responsibility: A opment of CSR in relation to the development of Business Contribution to Sustainable Development’ multi-stakeholder dialogues as an aspect of rela- (European Commission, 2002) and the Communi- tionship building and organizational change (Kap- cation ‘Implementing the Partnership for Growth stein and Von Tulder, 2003; Payne and Calton, and Jobs: Making Europe a Pole of Excellence on 2002, 2004). There is a common perception that Corporate Social Responsibility’ (2006). new challenges created by corporate practices all Other studies include research based on geo- over the world have to be solved through a multi- graphical comparative analysis of government stakeholder approach (European Commission, behavior and CSR culture in European and North 2001). In recent years, we have seen the appearance American administrations. The work of Aaronson of multi-stakeholder dialogue proposals. Among and Reeves (2002a, b) and the comparative report of others, these have included the UN Global Com- CBSR (2001) shed some light on the relevance of pact, the Global Reporting Initiative, and the cultural differences and elements in the development European Multi-Stakeholder Forum on CSR, of national CSR models. Aaronson and Reeves which propose dialogue among the different agents (2002a) analyze how, in the last decade, European involved as a working methodology aimed at mak- policymakers have taken a wide range of public ing headway in multilateral consensus proposals. initiatives to promote CSR, in contrast with a lack Third, other elements suggest that CSR is not a of policies in the U.S. They analyze European-based new and isolated topic among the new challenges companies’ acceptance of these CSR public policies facing governments in a globalized context (Crane compared with the less accepting attitude of and Matten, 2004; Moon, 2002). Responsible and U.S.-based companies. The authors argue that the sustainable business practices form part of the current difference is based on the countries’ respective debate on the role of companies within society in a business cultures. This research reveals that Euro- globalized world (Frederick, 2006; Scholte, 2001). pean-based companies ‘‘are more comfortable This enables us to understand why governments working with governments to improve social con- have adopted measures to promote CSR in their ditions, and they are more comfortable in a regulated relationship with the new social governance chal- environment.’’ ‘‘Businesses expect government to lenges. The first documents to introduce the debate ask more of them and government does ask more of on governments’ CSR role date from the last decade businesses. It seems that European business leaders of the 20th century (Moon and Sochaki, 1996). seem to believe that CSR policies can help them Most of these texts put forward the need for gov- find their way in the chaotic, ever-changing global ernments to actively promote CSR as a response to economy’’ (Aaronson and Reeves, 2002a). the social and environmental problems caused by These studies lead to the hypothesis that analysis corporate action within a globalized economic of the different CSR approaches should take into context (Moon, 2004). Midttun (2005) views the consideration a series of different elements: political development of CSR within the context of changes and institutional structure; political style and pro- in the welfare state, basing his work on a compara- cesses; social structure; emphasis on a voluntary tive analysis of three governance models. He points approach or acceptance of state guidelines and out that a new emerging model of CSR-oriented control; local and national views of the role of societal governance could be analyzed as an companies; the role and posture of NGOs and civil exchange theoretical perspective to examine the associations in society; the kind of educational sys- distinctive characteristic of the relationship between tem and the values it transmits; what is expected of civil society, business, and government. their leaders; and historical traditions (Rome, 2005). Relevant documents incorporating a new gov- All of this comparative analysis enables us to relate ernment vision, with particular emphasis placed on these cultural differences with the research of Matten Europe, include the official documents on CSR and Moon (2005) on the comparison between the published by the European Commission: the Green European CSR model and the U.S. model. For

SELECCIÓN DE ARTÍCULOS IIS 2007 19 Artículos 394 Laura Albareda et al.

them, CSR as a voluntary corporate policy is a fairly approach focused on the interrelation, collaboration, recent and as yet scattered phenomenon within a and partnership between the different actors: gov- European context. The reason is derived from his- ernments, businesses, and civil society stakeholders. torically different models of trust and authority It has been suggested that, in a globalized world, relationships in contrast with the more liberal model public policies cannot simply be analyzed in the light in the U.S. As a consequence, the authors defend the of self-sufficient governments, but that an added view that in the U.S. there is an ‘explicit CSR’ value lies in exploring the intersections between as opposed to a more European ‘implicit CSR.’ public and private sectors (including the for-profit Explicit CSR refers to corporate policies that lead and non-profit sectors) and in broadening the areas companies to assume responsibility answering con- surrounding the boundaries between these three crete needs of society. In the U.S., this normally sectors (Mendoza, 1996). involves voluntary and self-interest-driven corporate We use this relational methodology to analyze policies, programs, and strategies as part of CSR. In the new governmental approach to enabling an contrast in Europe, implicit CSR refers to a coun- environment for CSR in 15 European Union gov- try’s formal and informal institutions through which ernments in: Austria, Belgium, Denmark, France, business responsibility for collective society’s needs Finland, Germany, Greece, Italy, Ireland, the are agreed and assigned to companies in relation to Netherlands, Luxembourg, Portugal, Spain, Sweden the social role of business. This normally consist of and the United Kingdom.2 These are arguably values, norms and rules which, in the course of the the European countries with the most advanced last century, have resulted in mostly mandatory democracies, where the development of social and requirements for corporations to address issues of environmental regulatory frameworks for corporate social, political, and economic interest. Nevertheless, action and public CSR policies is strongest. the authors argue that over the last years explicit We started out from the previous study con- CSR has been gaining ground in Europe, changing ducted by Fox et al. (2002), which analyzed the new the approach to a more explicit CSR under the public sector roles enabling an environment for influence of a voluntary approach to CSR. CSR, mostly in developing countries, based on non- Taking into account the following three elements explicit CSR public policies. In this research, in which emerge from the analysis of CSR and gov- order to be able to conduct empirical analysis, and ernment we propose an analytical framework to unlike Fox et al. (2002), we have analyzed the analyze CSR public policies: explicit CSR public policies of the 15 European governments. We compiled all the data: CSR public • The voluntary nature of the company’s ini- policies, programs, and instruments that governments tiative; have explicitly adopted to promote CSR. This in- • The emerging new roles and soft tools; volved researching each country and building a • Multi-stakeholder dialogue and new gover- database on the policies and instruments applied by nance challenges. each government. The data was compiled via sources published by the governments or from official documents, reports, and governmental web pages. We also focused on an analysis of the contexts and The construction of an analytical model political structures to find out how CSR policy was being to understand CSR governmental assimilated into government structures. We compiled approaches the following elements for each government:

The objective of this research was the analysis of • National public policy on CSR: vision, mission CSR public policies in 15 European Union coun- and objectives tries. In order to be able to analyze and classify CSR • Government departments assuming responsibili- public policies we have built an analytical framework ties for CSR policies which serves as a methodology. The design of this • Institutional and relational support from existing analytical framework is based on a relational international agreements. United Nations

20 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos The Role of Governments in Europe 395

Global Compact: participation in international bodies on CSR issues Governments • Regulation in its diverse forms 1 • Organizational structure for CSR policies: cen- tralized/decentralized; transversal/sectorial; 2 3 multi-stakeholder; creation of new agencies 4 • Actors in the process • Civil Socioeconomic, political and cultural context, and Businesses administrative tradition Society

This data was then used to draw up a report for each 1. CSR in governments government. 2. CSR in government-business relationships After compiling the data, we focused on the 3. CSR in government-society relationships 4. CSR in government-business and society relationships classification of CSR public policies taking strategic and relational aspects into account. Here we intro- Figure 1. Relational model for CSR public policy duced a relational and multi-stakeholder approach analysis. based on a triangulation approach taking into account the relationship among governments, busi- allowed us to gain a complete overview of the nesses, and civil society stakeholders. directionality of CSR public policies. This infor- This framework makes it possible to observe the mation was grouped by country and incorporated three social agents of governments, businesses, and into specific reports drafted for each country ana- civil society stakeholders not as poles or opposites lyzed.3 which repel each other, but as agents collaborating in an interrelated area. Different areas of bilateral Subsequently, in order to obtain a general compar- collaboration were observed: the first between ative analysis of the 15 EU governments, we built a governments and companies; the second between transversal scheme containing all the CSR public governments and civil society and the third a policies in Europe4 (Figure 2). framework of multilateral collaboration: govern- By combining this data, we elaborated a detailed ments; businesses; and civil society stakeholders comprehensive scheme to map (see Table I) specific (Figure 1). initiatives and programs implemented by govern- We applied this analytical framework to map the ments through their public policies on CSR. government CSR public policies compiled previ- As a result, we produced a map of CSR public ously. We classified all public policies taking direc- policies, programs and the action that governments tionality into consideration: the actors to whom have taken to promote and develop CSR. This gave government policies are addressed: us a relational view of the actors who have been addressed by the policies and who governments have 1. CSR in governments: CSR public policies devel- attempted to involve. oped by governments to improve their own social We have observed how European governments responsibility, leading by example; have developed a considerable number of policies 2. CSR in government-business relationships: CSR and programs in the four relational frameworks. As a public policies designed to improve business CSR result, it can be deduced that the European gov- practices; ernments have adopted public policies taking the 3. CSR in government-society relationships: CSR different stakeholders into account. We have con- public policies designed to improve civil society firmed that, in general, for all 15 governments the stakeholders’ awareness, and finally; most significant number of policies lie in the rela- 4. Relational CSR: CSR public policies designed tional framework between government and business. to improve collaboration between governments, These policies are intended to raise awareness of the businesses and civil society stakeholders. This business sector, promote, and facilitate voluntary

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Public administrations and CSR

Administrations Company Society Relational

Public policies

•Leadership by example Employment and social issues policy •Work in intersectorial (internal CSR policies) •Environmental policy partnership •Linking public spending •Tax and funding policies •Facilitating to socially responsible Education and training policies •Promotion of socially companies Rural business policy responsible investment •Participation in Agriculture, fisheries and rural development policies •Coordination of actions international events Consumer defence policy between civil society and the •Transfer of international business sector debate on CSR to the •Promotion of responsible national and local context consumption •Fostering international •Promotion of the interests instruments and of all stakeholders •Regulation (by restriction) agreements •Legislation (compulsory) (producers, employees, •Directives and guidelines (soft law) •External policy, trade •Regulation (by restriction) consumers, investors) •To disseminate the positive impact and development •Directives and guidelines (soft law) •Informand educate all of CSR in society cooperation policy •Fiscal and funding framework social actors •To support CSR promotion initiatives •Development of •To promote convergence and •Encouragement, creation of civil society technical know how for transparency in CSR instruments and supervision of •To inform and educate all social actors implementing CSR in and practices mechanisms for evaluation about CSR companies •To catalyzeand facilitate voluntary and accountability •To promote and facilitate Responsible •Coordination of CSR CSR initiatives, exchange of •Encouragement of Consumption policies in administrations experiences and good practices exchange of experiences and •To promote and facilitate Socially •Public campaigns •Promotion of CSR in companies: good practices Responsible Investment •Creation of internal make known positive impact •Promotion of convergence •To promote and facilitate the departments •To export CSR in company attitudes and transparency in CSR particular interests of all stakeholders in internationally practices and instruments •Policies of attention to needs and CSR terms characteristics of SMEsin CSR •To foster companyrelationships with the market and stakeholders (impact on customers, suppliers, employees, capital providers) •To foster social action by the company •To draw up business restructuring policies

Figure 2. Implemented public policies, programs and actions promoting CSR.

initiatives, capacity building, stakeholder manage- European models of public policy ment, international standards, convergence and governance fostering CSR transparency, evaluation and accountability, tax and funding systems in addition to legislation. The application of this analytical framework to However, we also found an important number of European governments’ public policies on CSR initiatives among the policies that governments have gave us an overview of governments changing developed to increase their own social responsibility. capacities and strategies to favor the development of These CSR public policies are aimed at leading by social and environmental corporate practices. Taking example, creating internal departments, coordinating into account both the CSR public policies and the government bodies, capacity building, public actors involved, we have observed that there is expenditure, public campaigns, participating in convergence between the governmental approaches international events, transferring international debate and the action to develop CSR public policies in to the local context, developing international these countries. As a result of that analytical process, instruments and agreements, and foreign trade policy we built up a four-ideal typology model for Euro- and international development. pean governmental action on CSR (see Table II). We also found a considerable number of government policies aimed at addressing the relationship The partnership model with civil society. In addition, we found that the governments have also deﬁned CSR public policies Throughout the 20th century, the countries in this with the objective of linking government-businesses section (Denmark, Finland, the Netherlands, and and civil society to promote CSR. These initiatives Sweden) developed an extensive and comprehen- are equally as important as other policies and sive welfare state. Since the 1950s, their social developed in much the same way. policies have been directed towards improving

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TABLE I Classiﬁcation of CSR public policies in different relational perspectives

Policies Programs 1. CSR in government

Internal 1. Leadership by example Action Plan for Government Offices Work-life balance policies/equal opportunities/ethical investment/anti-fraud and corruption policies Accreditation for good employer practices 2. Creation of internal departments Creation of knowledge centers Creation of monitoring organizations and control systems 3. Coordinating government bodies CSR Minister responsible for coordinating activities Cross-government CSR programs CSR feasibility studies for new legislation 4. Capacity building Funding for research and innovation programs Financial assistance for companies implementing CR programs Publication of guidelines and good practice documents 5. Public expenditure Social and environmental criteria in supplier policies Ethical purchasing and outsourcing CSR policies for public contracts 6. Public campaigns Promotion of positive impacts of CSR in business and society Surveys on public opinion CSR Awards, communication campaigns and media influence International issues 7. International events International conferences on CSR European Commission events European conferences on CSR 8. Transferring international debate Agreements between national and local government to local contexts Seminars on geographic or thematic areas Consideration of CSR regional and local policies 9. International instruments Promotion of global regulatory frameworks and agreements Development of international certification systems Creation of evaluation and certification bodies 10. Foreign trade policy and CSR integrated into foreign affairs policies for international development international markets and international development Promotion of good CSR practice in overseas operations (human rights, labor standards, anti-corruption, environment etc) Link CSR to foreign investment policy and international relations External Other

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TABLE I continued

Policies Programs 2. CSR in government–business relations

Soft Raising awareness Identify and promote companies leading in CR Promote CR through websites, publications, specialist journals Offer CR services and support to CR initiatives in companies or partnerships Undertake surveys and communication campaigns Voluntary initiatives Promotion of uptake of CR policies, publication of CR reports (facilitating and promoting) Encouraging sharing and promotion of good practice Promotion of SRI, environmental standards, fair trade, sustainable consumption, work-life balance, equal opportunities, employee volunteering, employee conditions, life-long learning Promotion of business networks Promotion of public–private partnerships or public–private-civil society partnerships Capacity building Finance research and innovation programs Support business-university research programs (instruments, good practice, comparative studies) Develop guidelines and provide technical assistance Incentives for sustainability reports Stakeholders Evaluation and communication programs on the impact of CR programs on stakeholders Market mechanisms to favor CR (price policies, competition policies, investment principles) Promotion of stakeholder dialogue International Incentives for adopting international CR standards Promoting CR good practice in the south (labour standards, human rights, anti-corruption) Convergence and transparency Promote standardization across CR management models, standards, reports, indicators and auditing systems Promote fair trade labeling systems Encourage standardization of SRI analysis Promote inclusion of international CR agreements in codes of conduct Evaluation and accountability Accountability and auditing mechanisms Triple bottom line reporting initiatives Social and environmental labeling Tax and funding systems Tax incentives for CR (employment creation, gender balance, work-personal life balance, environmental initiatives etc.) Funding streams for CR (volunteering, social projects etc Promotion of SRI through ﬁscal mechanisms Legislation Transparency regarding socially responsible investment (pension and investment funds) Obliging companies to produce sustainability reports Regulation regarding public contracts and selection processes Environmental legislation Hard Adaptation of international agreements to national standards

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TABLE I continued

Policies Programs

Sector speciﬁc issues SMEs Promotion and incentives for good CR practice in SMEs Raising awareness of impact of operations in the south Support SMEs in impact assessment Research into the social and environmental impact of SMEs Promote the exchange of good practice and business cases for CR in SMEs Public campaigns directed at SMEs Encourage cooperation between large companies and SMEs Community action Favorable tax incentives for business in the community Disseminating good practice and creating networks Corporate restructuring Work with facilitators to promote CR in restructuring programs Encourage good practices and their dissemination

3. CSR in government–society relationships

Soft Raising awareness Analysis and dissemination of good practices in business operations with high impact on the community (work-life balance, social cohesion Tax incentives for civil society-government partnership programs Knowledge dissemination of international agreements with civil society implications (human rights, labor standards) Voluntary initiatives Campaigns for sustainable consumption, publications, seminars and (facilitating and promoting) dissemination Ethical investment initiatives Support SRI initiatives Support socially responsible consumption Capacity building Publications, events, press Surveys and CR awards Stakeholders Create communication mechanisms to foster business-community dialogue Promote transparency mechanisms Promote partnerships and participate in them International Promote initiatives with international NGOs Participation in international civil society activities Convergence and transparency Fair trade labeling schemes Social enterprise definitions Evaluation and accountability Accountability and auditing mechanisms Triple bottom line reporting initiatives Social and environmental labeling Tax incentives and funding streams Support for government-civil society partnerships for CR initiatives Sector specific issues Management of social organizations Improve management of social enterprise Enable SRI Environmental and social criteria for public contracts to socially Hard financed organizations

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TABLE I continued

Policies Programs 4. Relational CSR: Government–business-society

Soft Raising awareness Sharing good practice and knowledge dissemination Create National Resource Centers (e.g., National Contact Point, Holland) Capacity building Multi-stakeholder forums Business support networks Sharing experiences and best practices Voluntary initiatives Round tables on codes of conduct (facilitating and promoting) University-business research projects, promoting dialogue Proactive role in promoting innovation, pilot projects, dialogue Stakeholders Consumers; information on supply chain, sustainability index of products Investors: information on RC policies and expectations regarding pensions Evaluation and accountability Accountability and auditing mechanisms Triple bottom line reporting initiatives Social and environmental labelling Convergence and transparency Management standards Codes of conduct Promotion of simple and flexible indicators International International partnerships Networks and alliances Multi-stakeholder forums Sector specific issues Community action Urban regeneration projects Education projects in poor areas Cross-sector partnerships Promoting CR networks with public/private participation New social partnerships and common frameworks Local partnerships between different sectors for urban regeneration Stakeholder involvement in developing guidelines Bringing together different sectors Socially responsible investment Pension schemes with social, environmental criteria and fair trade Transparency in definition of SRI Selection, retention and realization of investment with CR considerations Hard Consumer rights

social provision and services within this frame- in attitude by social actors (companies, trades work. Furthermore, during the ﬁnal decade of the unions, and social organizations) assuming twentieth century, these governments began to co-responsibility in the building of a more inclu- acknowledge the importance of economic actors – sive society and a dynamic and integrated companies above all – in addressing and resolving employment market. For these governments, all social problems. It is therefore safe to say that, for actors are jointly committed to building new CSR governments identifying with this model, the policies and actions that will promote the growth movement towards CSR mainly involves a change of a fairer society.

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TABLE II Models of government action in the development of CSR-endorsing public policies in 15 EU counties

Model Characteristics Countries

Partnership Partnership as strategy shared between sectors Denmark, Finland, the Netherlands, Sweden for meeting socio-employment challenges Business in the Soft intervention policies to encourage Ireland, the United Kingdom community company involvement in governance challenges affecting the community (entrepreneurship and voluntary service) Sustainability Updated version of the existing social agree- Germany, Austria, Belgium, Luxembourg. and citizenship ment and emphasis on a strategy of sustainable development Regulatory France Agora Creation of discussion groups for the different Italy, Spain, Greece, Portugal social actors to achieve public consensus on CSR

Apart from this, for many companies already in- they should lead by example. Particularly in public volved in the social context, being socially respon- tenders, for instance, every effort is made to promote sible is simply inherent to their way of doing the use of goods or services produced in a socially business. Social initiatives are often implemented responsible manner. In short, CSR public policies informally or implicitly, as a response to local are viewed as part of the regular framework for social expectations and demands (Morsing, 2005). National and employment practices. A considerable commit- settings define a framework, where public and pri- ment is made by local governments who act as the vate actors are directly involved in the process of channels for partnership building, favoring the creating public policies and establishing partnerships notion of social co-responsibility between adminis- for social responsibility. Partnership is seen as an trations, companies and social organizations. innovative and sometimes even key tool for solving The Nordic model, linked to a long tradition of difficult social problems. Local governments, preference for cooperative agreements and consensus responsible for channeling the creation of such between different types of organizations, is largely partnerships, are also heavily involved, thus fur- characterized by the use of partnership as a tool, and thering the idea of social co-responsibility between by the creation of a shared area of welfare. In administrations, companies, and social organizations. essence, the impetus towards the adoption of public– Encouraging partnerships has thus become central to private partnerships may be construed as an heir to CSR public policies in these countries. In fact, in the Scandinavian political culture, in which research Danish context, cross-sector local partnerships always highlights cooperation, consensus, and par- practically incorporate the CSR concept (Nidasio, ticipation (Greve, 2003). Under the political tradi- 2004). tion of most Nordic countries over the last century, One of the policies common to all these countries social problems are part of governments’ core insists that companies should provide adequate CSR competences and, as such, are considered among the information adhering to transparency principles on basic issues that their policies must resolve (Rosdahl, social issues. It is consumers themselves who place 2001), with these values underpinning their politi- most emphasis on socially responsible production. In cal-social philosophy. the Netherlands, for example, labels are used to The countries in this section all have considerable avoid confusion. Another differential factor in this experience in environmental management, which model is that public officials take the attitude that now also incorporates the CSR component. They

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also enjoy a tradition that historically favors social ‘regeneration strategies for less favored areas’ and negotiation, in which relationships between gov- ‘commitment to the community’ to define their ernment and companies are viewed as positive, and contribution to social and community development. which includes certain aspects of cooperation. We The idea of corporate responsibility was first seen use the term ‘partnership’ to refer to the format used in the contribution of companies to sustainable to design and implement CSR public policies in development through new public social governance Scandinavian countries (Denmark, Sweden, and policies (Moon, 2004). In terms of corporate man- Finland), to which we have also added the Neth- agement, governments advocate voluntary involve- erlands.5 ment in CSR. Companies bring CSR initiatives into commercial practices and corporate management on a voluntary basis, quite apart from any legal The ‘business in the community’ model requirements. However, particularly in the United Kingdom, the government adopts what is known as The business in the community concept refers to how ‘soft intervention’ to promote and endorse corporate these governments and companies interpret the role action in CSR areas. of business in society, particularly as regards social In both the United Kingdom and Ireland, gov- challenges and its role in community development. ernment action is conceived as developing, facili- In this model, we have included the United King- tating, and providing incentives for CSR, as well as dom and Ireland. The British government has been encouraging public–private partnerships. In their one of the most innovative in the development of a role as facilitators, the governments seek mechanisms political CSR framework. It links CSR to the main that provide incentives, whether through so-called challenges in societal governance faced by developed ‘soft regulation’ to encourage corporate CSR actions countries (DTI, 2001; 2003a, b). or through tax measures. Another important idea in CSR first saw the light of day in the United these countries as regards CSR is the building of Kingdom and Ireland during the final decades of the partnership projects for the public and private sec- 20th century, as a response to a deficit in social tors, either together or with the third sector. This governance when industrialized economies were allows a joint grasp on problems linked to social undergoing a severe crisis, forcing companies out of exclusion, poverty, lack of social services and quality business and causing severe problems of social of life in economically depressed areas. Companies exclusion (Moon, 2004). Both societies had to deal collaborate in partnership projects with local gov- with acute problems of social exclusion and growing ernments in staff training, company set-ups and poverty in urban and rural settings, coupled with investment in deprived urban or rural areas. environmental degradation. The crisis also affected To sum up, under this model, government actions the welfare state, as seen in the decline of the social on CSR focus on providing support to the private services offered by public administrations. The gov- sector, facilitating economic and sustainable devel- ernments began to look for innovative solutions to opment and economic regeneration, with the sup- these problems through engaging all social actors – port and collaboration of the private sector. These primarily companies. They began to create corporate countries deal with social problems such as unem- networks and public–private partnership projects to ployment and social exclusion through CSR policies strengthen CSR. Firms were soon involved in social involving companies responding to a crisis of gov- projects that invested in the community. ernance and creating the conditions for corporate The concept of ‘business in the community’ arose action. Finally, governments base their application of from the idea that companies play a fundamental role CSR measures on ‘soft regulation.’ in the economic development of communities in which they operate as well as in fighting social exclusion and poverty. In the United Kingdom and The sustainability and citizenship model Ireland, it is now commonplace for governments and companies to use concepts like ‘investment in The sustainability and citizenship model tackles the community,’ ‘involvement in the community,’ CSR from a focused perspective, above all through

28 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos The Role of Governments in Europe 403 companies considered as ‘good citizens.’ This is what on sustainable development issues, which began long Frederick (2006), in his scholarly conclusions, clas- before the publication of the European Commission sifies as ‘public/social policy,’ where the corporation Green Paper (2001). Nevertheless, these govern- is analyzed as a political actor, and where these ments began moving towards CSR after 2001. This newer citizenship concepts of business rest on a firm experience of environmental public debate, essen- theoretical foundation of political science in which tially based on the 1990s, views CSR initiatives as corporations take their place as citizens in civil part of long-term sustainability. Among the coun- society. For the governments of this model, Austria, tries included under this model, France deserves Belgium, France, Germany, and Luxembourg, the special attention. In France, CSR is well-established concept of ‘corporate citizenship’ holds that com- in government-supported activities focusing on panies must not only be good citizens through the sustainable development. So much so that, at times, transparency of their activities and compliance with such activities appear to be directed by the govern- tax obligations, but that they should go beyond this. ment, revealing a more regulatory approach, in line It also refers to businesses’ obligation to maintain a with the apparently more centralist orientation of direct link with their local environments and to the French state. contribute to resolving social problems by forming In recent years, these governments have devel- partnerships with other actors in society. One of the oped national Sustainable Development strategies, main characteristics of the ‘sustainability and citi- considering the role of companies as fundamental zenship’ model is the value it allocates to companies’ points in sustainable development, innovation, and socially responsible behavior, which undoubtedly competitiveness. In Austria, for example DETE contributes to social change. Essentially, the key (2002) stresses the need for businesses to redefine notion behind this concept is for companies to their image as regards environmental social respon- function as genuine social agents, with corporate sibility and proposes that it is necessary to explore citizenship as the strategy adopted to support their new forms of cooperation with governments and actions in this sphere. In this model, government their stakeholders. action mainly promotes CSR and creates incentives In these countries, governments have promoted to help companies assume their social responsibility. CSR through support for business organizations and The concept of ‘social market economy’ also through specific political initiatives on promotion responds to the same principle, combining economic and awareness. and personal freedom with social justice – thus fea- turing social responsibility components. In these governments, the role of the corporation in society is The Agora model much closer to societal goals and agendas. The countries forming part of this ‘sustainability We use the term Agora – a Greek word meaning a and citizenship’ model generally enjoy relatively public gathering place or forum – to refer to the sound welfare states, which, in the 1990s, had to model used to implement and enforce CSR public withstand the impact of a global economic crisis, an policies in Mediterranean countries, including increase in social costs and the consequences of Greece, Italy, Portugal, and Spain. Although some population ageing. Consequently, over the last few are still at an early stage, others, such as Italy, have years, CSR has been added to the political debate already begun to consolidate their CSR govern- surrounding growing concerns over their economy’s mental project. We have named this model ‘Agora’ lack of competitiveness and welfare state renovation. because, in Mediterranean countries, political CSR Debate on CSR, therefore, often comes from within applications arose from a series of discussion pro- companies themselves. These companies may join cesses in which governments sought to involve forces and create platforms, where they can share companies and society stakeholders, debating in experiences and express themselves with a single groups along with political representatives. These voice. CSR relational initiatives work by seeking a con- The countries explored in this CSR model have a sensus that includes all social voices and viewpoints long-standing tradition of intense public discussion on government action.

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The countries in this model were the latest to action has been defined or made specific through introduce CSR policies and have only recently ex- tangible political initiatives, especially in Spain, pressed an interest in the issue, largely following the Greece and Portugal. In these countries, it seems that publication of the European Commission Green the governments adopt a positive attitude towards Paper (2001) and Communication (2002). In 2001, CSR. none of their governments took part in European The creation of commissions or working groups Commission debates on the Green Paper. However, using a ‘multi-stakeholder’ focus to discuss the from 2002 onwards, most began to include CSR concept of CSR, to seek consensual solutions and initiatives in their political agendas. These are to determine the role to be played by government, countries with a less well-developed welfare state, characterizes this process in Mediterranean coun- which is less mature if compared with the other tries. In Spain, Greece, and Portugal, similar pro- countries in Europe. The origins of CSR in gov- cesses occur through the creation of expert groups, ernmental initiatives in Mediterranean countries can working committees and forums. The Italian be linked to European Commission initiatives to government has thrown open the dialogue to all promote a European framework for CSR and is also intervening actors by creating an Italian multi- due to the impact of various international public and stakeholder forum on CSR. In short, the Agora private initiatives (OECD’s guidelines for multi- model allows space for discussion with a certain national companies, the Global Compact and public dimension. Unlike the EC’s European financial sustainability indexes). At the same time, Multi-Stakeholder Forum on CSR, these working CSR actions were beginning to be endorsed by large groups or commissions are created by governments multinational companies that had invested in these during the initial stages of government action, countries or companies from these countries, which even before frameworks for action have been were starting to globalize. In all these countries, defined. The countries in this model generally corporate CSR networks and research centers have have less-developed welfare states than those in been created to develop and incorporate the CSR northern Europe, particularly in terms of social concept within the national framework. It is in these services. But, like other European countries, they CSR networks and organizations that the Mediter- too have suffered the consequences of eco- ranean discourse is being built. Issues linked to CSR, nomic crises, increased unemployment and social at least in Spain, Greece, and Portugal, are mainly exclusion. social in nature. These are countries whose governmental CSR approach is under construction. In these countries Governments and CSR: implications the governments have not been extremely innova- for further research tive or proactive in the development of CSR public policies, except in Italy, where the government has As we have seen, the analysis of CSR public policies adopted specific projects and policies to promote leads us to consider the multi-directionality of these CSR. policies: in other words, to whom they are ad- What characterizes governmental action most of dressed. The new challenges of social governance in all here is that before taking decisions, the govern- globalized societies requires new methodological ments need to construct a social consensus and to instruments to analyze how companies contribute to have engaged in dialogue with all the social agents. society and how governments adopt new soft roles This dialogue produces the CSR public policies taking into account the new frameworks of collab- defined by these governments. In these countries, oration between governments, businesses, and civil governmental action has been supported by the society stakeholders. All this means that companies drafting of reports and studies on CSR, analyzing and governments must be increasingly aware of the the development of CSR in more proactive Euro- need to formulate their own approach to CSR. pean governments and the CSR public policies CSR no longer simply affects relationships between undertaken. These elements of public dialogue businesses and society. It has become a way of provide consensus on whether or not governmental rethinking the role of companies in society, which

30 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos The Role of Governments in Europe 405 takes governance and sustainability as its core values this debate on government action on CSR must not and changes the focus of CSR public policies. As a be confined to CSR public policies. Governments result, this analysis highlights the following points for must allow it a much wider approach and context, future research. embracing models of governance with a framework First, the considerable influence of a country’s for new relationships between governments, busi- social, cultural and political context on the develop- nesses, and society stakeholders. ment of national CSR public policies: models of From these three points of view, drawing up and governmental CSR public policies outlined here designing governmental approaches on CSR is there- corroborate this. Furthermore, any reader familiar fore not just a matter of concept but a political decision. with the literature on the evolution of the welfare This means that governments and businesses and also state in Europe (Esping-Andersen, 1999, 2000) will society stakeholders must be increasingly aware of the have detected the similarities between our models for need to formulate their own approach to CSR in order public policies on CSR and other groupings normally to adopt the CSR approach that best suits their welfare found when analyzing different forms and experi- state tradition and the existing relationships between ences of the welfare state. These parallels should come government, business and society. Currently, the role as no surprise, particularly if we then take a closer look of CSR public policies has become a way of rethinking at the itinerary of European Commission proposals on the role of businesses in society that takes relational the development of CSR policies. An in-depth study governance and sustainability as its core values. of the relationship between models of public policies on CSR and models of development of the welfare state is long overdue. This is essential, and not just for Acknowledgments historical or academic reasons. A correct orientation We would like to thank Dr. Thomas Maak and the of public policies on CSR will in the long term form a anonymous reviewers for their useful comments and basic element in, and a symptom of, any forthcoming suggestions that have helped to improve this article. discussions on the redefinition of the welfare state. Second, while in some countries CSR policies have been defined in relation to social issues, and an Notes independent public policy has been created, in others government action has simply incorporated 1 This research was made possible thanks to the CSR into national policies on sustainability. We feel support of the Department of Economy and that the latter approach, focusing on sustainability, Finance of the Regional Government of Catalonia. ties in with countries, where there is a long-standing 2 This research was begun in 2004 when the EU tradition and intense public discussion on Sustainable was still composed of 15 Member States: Austria, Development and ‘green’ policies. Conversely, the Belgium, Denmark, France, Finland, Germany, CSR approach in other countries ties in with busi- Greece, Italy, Ireland, the Netherlands, Luxem- ness and society relationships, and CSR public pol- bourg, Portugal, Spain, Sweden, and the United icies are linked to social challenges and are closer to Kingdom, before the EU Enlargement of May collective bargaining policies. 2004 when 10 States joined the EU. Third, there are other elements that must be 3 For further information on the results for each considered when analyzing and developing any country please see: Lozano et al. (2007). government framework for endorsing CSR. CSR 4 Given the definition of the study object – must not be seen as being divorced from the great focused on governments – the actions between the political and economic challenges. In fact, it is private, for-profit and non-profit sectors do not sometimes presented as a response to, and sometimes form part of this analytical framework. as the result of, the new challenges created by eco- 5 As Kjaer et al. (2003) suggest on partnership nomic globalization. CSR is at once viewed as a models, we include the Netherlands in this model of response to the crisis of the welfare state producing a CSR due to the tendency of its policies to adopt co- new model for social governance and as a framework responsibility and dialogue to construct alliances linked to national competitiveness. We argue that with other key actors.

SELECCIÓN DE ARTÍCULOS IIS 2007 31 Artículos 406 Laura Albareda et al.

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32 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos The Role of Governments in Europe 407

relacional. Papers de Formacio´, No. 23, Diputacio´ de Learning Dialogues’, Journal of Business Ethics 55, Barcelona. 71–78. Midttun, A.: 2005, ‘Policy making and the role of gov- Rome, N.: 2005, ‘The Implications of National Agendas ernment realigning business, government and civil for CSR’, in A. J. Habisch; Jonker, M. Wegner and society. Emerging embedded relational governance R. Schmidpeter (eds.), Corporate Social Responsibility beyond the (neo) liberal and welfare state models’, Across Europe (Springer, Berlin), pp. 317–333. Corporate Governance. The International Journal of Business Rosdahl, A: 2001, ‘The Policy to Promote Social Re- in Society 5(3), 159–174. sponsibility of Enterprises in Denmark’, Danish National Moon, J.: 2002, ‘Business Social Responsibility and New Institute of Social Research, Copenhagen. Discussion Pa- Governance’, Government and Opposition 37, 385–408. per from Host country Expert: Denmark, sep 17–18. Moon, J.: 2004, Government as a Driver of Corporate Social Scholte, J. A.: 2001, ‘Globalisation, Governance and Responsibility: The UK in Comparative Perspective. Corporate Citizenship’, Journal of Corporate Citizenship ICCSR Research Paper Series, n. 20-2004, The 1(Spring), 15–23. University of Nottingham, pp. 1–27. Waddock, S.: 2002, Leading Corporate Citizens: Vision, Moon, J. and R. Sochaki: 1996, ‘The Social Responsi- Values, Value Added (MacGraw-Hill Irvin, Boston, bility and New Governance’, Government and Opposi- MA). tion 27, 384–408. Zappal, G.: 2003, Corporate Citizenship and the Role of Morsing, M.: 2005, ‘Inclusive Labour Market Strategies’, Government: The Public Policy Case. Research Paper n. in A. J. Habisch; Jonker, M. Wegner and R. 4, 2003–2004, Australia. Schmidpeter (eds.), Corporate Social Responsibility Across Europe (Springer, Berlin), pp. 23–35. Laura Albareda and Josep M. Lozano Nelson, J. and S. Zadek: 2000, Partnership Alchemy – New Institute for Social Innovation, Social Partnerships in Europe (The Copenhagen Centre, ESADE Business School (University Ramon Llull- Copenhagen). URL), Nidasio, C.: 2004, Implementing CSR on a Large Scale: Avda. Pedralbes, 60-62, Barcelona, 08034, Spain The Role of Government. Paper presented at the 3rd E-mail: [email protected] Colloquium of the European Academy of Business in Soci- ety, Ghent. Tamyko Ysa Payne, S. L. and J. M. Calton: 2002, ‘Towards a Mana- Institute of Public Management (IDGP), gerial Practice of Stakeholder Engagement: Develop- ing Multi-Stakeholder Learning Dialogues’, Journal of ESADE Business School (University Ramon Llull- Corporate Citizenship 6(2), 37–52. URL), Payne, S. L. and J. M. Calton: 2004, ‘Exploring Research Avda. Pedralbes, 60-62, Barcelona, 08034, Spain Potentials and Application for Multi-Stakeholder E-mail: [email protected]

SELECCIÓN DE ARTÍCULOS IIS 2007 33 Artículos 34 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos KUSYK, S.; LOZANO, J.M.

“CORPORATE RESPONSABILITY ARTÍCULOS IN SMALL AND MEDIUM SIZED ENTERPRISES. SME SOCIAL PERFORMANCE: A FOUR-CELL TYPOLOGY OF KEY SOCIAL ISSUES AND THEIR IMPLICATIONS FOR STAKEHOLDER THEORY”

Corporate Governance: The International Journal of Business in Society. Vol. 7 (2007), núm. 4.

SELECCIÓN DE ARTÍCULOS IIS 2007 35 Artículos 36 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Corporate responsibility in small and medium-sized enterprises SME social performance: a four-cell typology of key drivers and barriers on social issues and their implications for stakeholder theory

Sophia Maria Kusyk and Josep M. Lozano

Sophia Maria Kusyk is Abstract based at ESADE, Purpose – Small and medium enterprises (SMEs) are often neglected in the context of business and Universidad Ramon Llull, society theory building. The purpose of this article is to build a model of why SMEs address social issues Sabadell, Spain. by integrating internal and external drivers and barriers to social performance (SP). Josep M. Lozano is a Design/methodology/approach – Using thematic analysis, barriers and drivers to SME social Professor at ESADE, performance are clustered along key stakeholders and presented in a theoretical model. The analysis Universidad Ramon Llull, dates from 1973 until 2006 and is grounded in an extensive literature review that represents a total of 83 Barcelona, Spain. countries. It includes academic and practitioner accounts stemming from theoretical and empirical work, as well as conference proceedings. A total of 80 drivers and 96 barriers to SME high social performance are identiﬁed. Findings – This paper develops an SME four-cell ideal type of social issues management (SIM) response typology based on drivers and barriers of social performance. Practical implications – The importance of understanding barriers and drivers to social responsibility (SR) of SIM for stakeholder theory, policy makers, and practitioners is discussed, concluding with implications for further SME-SR research. Originality/value – The four-cell typology considers the theoretical claims of stakeholder theory within the context of SMEs and proposes a heteronomy of stakeholder salience. Keywords Small to medium-sized enterprises, Social responsibility, Stakeholder analysis Paper type Conceptual paper

Introduction An enterprise and the ethical norms in which it operates are socially constructed (Pinch and Bijker, 1987) within a normative context to have moral agency (Goodpaster and Matthews, 1982) and to be responsible to its stakeholders (Freeman, 1984) for its triple bottom line (Elkington, 1998) beyond the law (European Commission, 2001). However, there appears to be gap between the social performance (SP)[1] (Swanson, 1995; Carroll, 1979) of an enterprise and the expected results of the social responsibility (SR) theory embodied by the stakeholder model. Adherence to the normative expectations in social issues (SI) involvement and the practice of stakeholder engagement and corporate accountability of the triple bottom line varies in scope and scale of application between and within stakeholder issues of individual enterprises, where an SI is a stakeholder demand for enterprise accountability. In particular, several authors have commented on the need for further theory development and empirical work geared at social issues management (SIM) from a small- and medium-sized enterprises (SMEs) perspective because of a historical

SELECCIÓN DE ARTÍCULOS IIS 2007 37 Artículos asymmetrical focus on large enterprises (LEs) (Jenkins, 2004a; Spence, 1999). We will address the gap between normative expectations and practice by probing into the internal and external, barriers and drivers, of SMEs for achieving a high SP. This article builds a model of why SMEs address SI by integrating internal and external, drivers and barriers, of their SP into the stakeholder model. Next it develops a SME four-cell ideal type of SI response typology based on a proposed heteronomy of stakeholder salience. Finally, the importance of understanding barriers and drivers to SR of SIM for stakeholder theory, policy makers, and practitioners is discussed, concluding with implications for further SME SR research.

Determinants and effects of SME social issue performance Conventional SR theory development has been centered on large enterprises (LEs). The rational is based on easier access to LEs and the fact that ceteris paribus the power of an LE as an actor in the international system is substantial (Jenkins, 2004a). However, even though relatively SMEs are smaller power agents in a cumulative sense they represent anywhere from 97-99 percent of all enterprises and in some industry from 50 percent up to 80 percent of total employment (World Bank Institute, 2004; European Commission, 2002). SMEs differ from LEs because of their relative scale and scope of operations and organizational characteristics (Jenkins, 2004a, b). A SME definition from the World Bank Institute is an enterprise between 10 to 300 employees and total assets and annual sales ranging between US$ 100,000 to US$ 15 million (World Bank Institute, 2004). In Europe the definition of SMEs includes enterprises with less than 250 employees and with equal to or less than e50 million annual turnover, and e43 million on annual balance sheet. The SMEs sector is protean in character; varying in size, experience, values, resources, stakeholder engagement in order to adapt themselves into their environments within the different industries and cultural contexts in which they operate. In an organizational behavior context SMEs have relatively fewer resources than their larger counterparts and are more risk-adverse because of lesser market diversification (Jenkins, 2004a; Spence, 1999). We also need to consider that form a stakeholder theory point-of-view many SMEs may have a smaller demanding portfolio of stakeholders. The current state of SME SR literature is at an embryonic stage focusing on exploratory analysis and pointing out an LE context bias of SR theory (Jenkins, 2004a). To date it has been limited to fragmented descriptive schematization of SMEs based on variable characteristics such as organizational size, sector or geographic position. We propose that to further our understanding from the descriptive ‘‘what’’ of SME SR, we need to consider the prescriptive ‘‘why’’ of SME SR practices by making distinctions between SMEs and LEs based on meaningful categories of theoretical relationships of constructs taken from stakeholder theory. A broad definition of stakeholder is ‘‘any group or individual who can affect or is affected by the achievement of the organization’s objectives’’ (Freeman, 1984, p. 46). It can also be viewed in a narrow way as reverted to the language of the Stanford Research Institute (1963) defining stakeholders as those groups ‘‘on which the organization is dependent for its continued survival’’ (Windsor, 1992). The theory focuses on managerial decision-making according to three approaches: 1. Descriptive which talks about whether stakeholder interests are being taken into account. 2. The instrumental approach is concerned about the impact stakeholders may have in terms of corporate effectiveness. 3. The normative approach deals with reasons why corporations ought to consider stakeholder interests even in the absence of apparent benefit (Donaldson and Preston, 1995). Furthermore, Mitchell et al. (1997) have identified three classes of claims for stakeholder salience:

38 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos 1. The stakeholder’s power to influence the firm. 2. The legitimacy of the stakeholder’s relationship with the firm. 3. The urgency of the stakeholder’s claim on the firm. Our paper focuses on describing how stakeholders are being taken into account and what instrumental impact they have on SME SP in terms of stakeholder salience by linking them to the barriers and drivers for SI engagement. Departing from the assumption that SR practices cannot simply be transferred from LEs to SMEs (Jenkins, 2004a; World Bank Institute, 2004; UNIDO, 2002; Spence, 1999) we need to explore what the drivers and barriers to SMEs stakeholder issue engagement are. The basic drivers of SR for LEs have been identified as values, strategy and public pressure, where companies are often driven to stakeholder issue engagement by one or a combination of them (UNIDO, 2002; Zadek et al., 1997). Our discussion is derived from an analysis of existing SME SR conceptual and empirical literature (see appendix). After analyzing the determinants of SP of SI we provide an ideal-type typology of SME SR engagement based on the most salient stakeholders: owner-managers and supply chain agents. We propose that SR drivers and barriers to stakeholder engagement are critical in order to move the theoretical discussion form exploratory analysis towards explanatory research.

Environmental determinants of SME social performance on a social issue An SME is a stakeholder in an interpenetrating system (Strand, 1983) of an international normative framework, a national legal framework and the industry competitive environment. It is from these external factors and the enterprises’ own internal capabilities that it can assess its own market position with regards to SIM, whether or not these are derived from an implicit or explicit stakeholder engagement. In Figure 1 boxes represent bundled concepts, a broken line implies the system permeable membrane of individual stakeholders and the direction of inﬂuence is marked by the arrow head. In essence, Figure 1 depicts that the perception of SR by an SME on a given social issue is determined through an interaction of different stakeholders in a normative international,

Figure 1 An integrated model of key social issue drivers and barriers of SME social performance

SELECCIÓN DE ARTÍCULOS IIS 2007 39 Artículos national political framework, industry competitive environment and the SMEs SR issue market position. The figure further suggests that depending on the SR environmental determinants of the normative framework on a SI: two types of key drivers or barriers for SI practice and the salient stakeholders emerge. First of all the external SME market competitive positioning based on a SR issue and secondly the internal SME decision making autonomy of a SR issue. This is because there is a power hierarchy between stakeholders and a market taxonomy between social issues with regards to the competitive environment. Figure 1 concludes that depending on the ideal type of SME social issue engagement the outcome or practice of SP will either be high or low and society will either benefit or bear the externality cost. For a particular act the final feedback loop is the reincorporation of the SME SP back to the environment. It is here that LE actions are often differentiated from SMEs as their particular individual acts have a larger scale of impact as for example the Enron scandal (Institute for Global Ethics, 2002) which resulted in change in the international, national and industry SR environment. However, the millions of aggregate actions of SMEs are impacting their environment on a cumulative scale (European Commission, 2004). Irrelevant of the various views on social responsibility (SR), an implicit number of different social issues (SI) exist (Carroll, 1979). International, national, and local stakeholders determine the type, scale and scope of SI that may arise in any given market situation. Carroll’s (1979) initial SI list has evolved and been incorporated into different international tools such as the Global Reporting Initiative (2002) or the SA 8000 certifications (Social Accountability International, 2006). The national political environment is an important factor in setting the legislative framework of the nature and praxis of SR norms. The industry sets the normative tone of the code of conduct on a particular SI in terms of market conditions by its nature and history of SI praxis. Moreover, the SME whether explicitly or implicitly ascertains its own internal strengths, weaknesses to the external threats and opportunities for a given SI. The SI environmental framework for SR is an interpenetrating system of international, national and local, external and internal stakeholders, where the SME is a stakeholder in its own right.

Key internal and external drivers and barriers for SME social performance on a social issue From Figure 1 we see that the SME must make a choice on its SR market position, which is determined by the barriers and drivers of SIM. Drivers are external and internal (agents, competences and pressures) to aid, compel, promote a SME with social issues identification, implementation and/or management. Barriers are external and internal (agents, competences and pressures) that hinder, resist, stop a SME from social issues identification, implementation and/or management. The appendix was created in a three-step process: to start, a list of all possible barriers and drivers for SMEs, as stated in the articles and in the context of the original work, was comprised. In a second step, clusters of text were created based on meaningful categories in which barriers and drivers to SP were subdivided into internal (ownership, employees, resources), and external (customers, local community, competitive environment) stakeholders. The final step was summarizing the list into key words presented in appendix 1. The literature represented a total of 83 countries which included the following geographical areas: Africa (12 countries), East Asia and Pacific (13 countries), Europe and Central Asia (17 countries), Latin America and Caribbean (16 countries), Middle East and North Africa (five countries), North America (two countries), South Asia (five countries) and Western Europe (15 countries). It included academic and practitioner accounts stemming from theoretical and empirical work, as well as conference proceedings for both academics and/or practitioners dating from 1973 until 2006. In total 80 drivers and 96 barriers to SME high SP were identified. The limitations of the drivers and barrier chart are inherent to the research designs from which they are derived and it is questionable if the sample represented in the individual

40 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos studies are representative of their populations. It must also be stated that all of the studies probably contain a positive bias towards SME-SR because both the academics and practitioners participating the issue are interested in improving SP. Hence, the non-interested accounts are underrepresented. Even though there was a positive bias 17 percent more barriers than drivers where identified. Due to the previously mentioned limitations of the literature reviewed this article made a values-free list of all barriers and drivers. Table I shows that internal stakeholders contained 38 percent of the total drivers and 50 percent of the total barriers, external stakeholders comprised of 45 percent drivers and 38 percent barriers and that theory and practice were 18 percent driver and 13 percent barrier to SME SI engagement. We can conclude that the most cited driver is found on the attitude dimension of the internal stakeholder perspective for social issues engagement. The driver is ‘‘a reflection of owner/manager moral and ethical values’’ (seven citations). However the main barriers of the internal stakeholder dimension were on the resources dimension ‘‘lack of justification of allocation of limited money (nine citations) and limited time (eight citations). From an external stakeholder perspective the most cited drivers of SR are customers ‘‘SMEs perceive the SR business case for improved image and reputation, and customer loyalty’’ (five citations) and ‘‘the supply chain’’ externs some or strong pressure for SIM (four citations), and ‘‘a strong link to the community’’ (six citations). On the other hand the single most cited external stakeholder barrier is the supply chain cost-cutting top-down pressure from supply chain that uses SMEs as a loop-hole for social irresponsibility (four citations). After creating the clusters we encountered a paradox. It became apparent that SME owners/managers or external SR market conditions could either be a barrier or a driver. Variables such as size of company and location could not meaningfully explain why certain SMEs were performing high or low on SIM. In particular, owner values did not play an important barrier or driver in a macro-economic analysis, but they became critical in at the mircro-economic level SI engagement. We propose that owner values that are inclined towards social responsibility are an antecedent and idiosyncratic component of what we will

Table I Descriptive statistics of Appendix: drivers and barriers for SME social performance

Drivers (n ¼ 80) Barriers (n ¼ 96) Number % Number %

1. Internal stakeholders total 30 38 48 50 1.1. Owner/governance total 11 14 19 20 1.1.1. Style 4 5 4 4 1.1.2. Attitude 7 9 15 16 1.2. Employees total 91166 1.3. Resources/management systems total 10 13 23 24 1.3.1. Resources 7 9 7 7 1.3.2. Information and understanding 3 4 12 13 1.3.3. Skills: planning and measurement 0 0 4 4

2. External stakeholders total 36 45 36 38 2.1. Customers total 17 21 4 4 2.1.1. Customers in general 10 13 3 3 2.1.2. Supply chain 7 9 1 1 2.2. Community total 13 16 17 18 2.2.1. Community in general 9 11 9 9 2.2.2. Public infrastructure 4 5 8 8 2.3. Competitive environment total 6 8 15 16

3. Theory and practice total 14 18 12 13 3.1. Business case total 14 18 3 3 3.2. Deﬁnitions total 0099 Total 80 100 96 100

SELECCIÓN DE ARTÍCULOS IIS 2007 41 Artículos call the ‘‘moral leader’’ (Table II). On a macro level, we propose two meaningful drivers/barriers for SIM based on the external competitive nature of the industry and the internal decision making autonomy of the owner/manager. In Figure 2 circles depict the driver/barrier, the arrow head show the direction of influence and boxes contain the outcome. In our model we assume that the SME is a for-profit, legal enterprise governed by rational actors. The sum of SR determinants (barriers/drivers) in Figure 1 can be placed into the category of ‘‘industry competitive environment’’. Figure 2 states that it can either give a high or low advantage to the SME based on performance on a given SI. A high advantage is clearly observed by niche markets where products differentiate themselves based on their SP on a given SI. We can observe this phenomenon in different enterprises that use SI sensitive customers as niche markets and promote their goods through social labels to differentiate their products, such as for example Intermon Oxam products that are geared at the SR consumer (Eco-Label Green Store, 2006; European Commission, 2006; Oxfam International, 2006). The converse is also true, that in certain competitive environments certain SI bear a low advantage, such the commodity manufacturing industry in China (The Economist, 2006) that differentiates itself on low cost. We propose that SMEs make an implicit or explicit opportunities and threats analysis of SI engagement and act accordingly. SMEs will either actively seek out SI competitive advantage by the social labeling and differentiation of their products and services, or passively comply with the environmental norms of SR on a given SI. Our analysis confirms that SMEs are interested in and make their decisions (systematically or ad-hoc) based on the competitive environment of the SI in question. Figure 2 also identifies a second key barrier/driver to SIM: the nature of internal decision making autonomy. Certain SME owner/managers had either high or low degree of autonomy

Table II A four-cell typology of key social issue drivers and barriers of SME social performance

External: enterprise market competitive High Customer depended Moral leader advantage based on SR issue Social issue management: compliant Social issue management: innovator Social issue champion: supply chain Social issue champion: owner/manager demand (active) (active) Social issue performance: high Social issue performance: high Low Non-participant Observer Social issue management: follower Social issue management: adapter Social issue champion: supply chain Social issue champion: owner/manager demand (active) (passive) Social issue performance: low Social issue performance: low Low High Internal: decision-making autonomy on SR issue

Figure 2 A decision-tree approach for key social issue drivers and barriers of SME social performance ideal types

42 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos in decision making from their external and internal stakeholders on a given SI. In the case of high autonomy SME owners/managers could either choose or not choose to engage on a SI. For example in the case of high autonomy in decision making SME owners/managers and high SI market attractiveness there was SR innovations. However, on the opposite end, supply chain stakeholders could exert deﬁnitive pressure towards high or low SP. Supply chain stakeholder could be even more salient than the SME and exert top down pressure to adopt ‘‘voluntary’’ SR standards or to cut cost regardless of SI.

Formation of SME social issues management ideal types In order to make sense of SME drivers and barriers paradox we propose Table II. A typology identifies multiple ideal types each of which represents a unique combination of organizational attributes that are believed to determine the relevant outcome(s) and it is a relevant method for management theory (Doty and Glick, 1994). Although a typology poses a risk of simplification (Cowton, 2002), it is an important conceptual tool that allows for a parsimonious treatment of a multifaceted and unexplored issue. Table II’s vertical axis is the external divers/barriers of ‘‘enterprise market competitive advantage based on SR issue’’ and its horizontal axis is the ‘‘internal drivers/barriers of decision-making autonomy on SR issue’’. Depending on the intensity (high/low) and combination (external/internal) of these two key drivers/barriers an SME’s will have a very different ideal type on its SI identification and therefore SP. Each of the four categories will be discussed in turn below moving from top to bottom and left to right in Table II. An external high market competitive advantage on a SI and low internal decision-making autonomy on SIM is what we termed the ‘‘customer depended’’ SME. In this scenario, the market competitive advantage is high which states that high SP is required by the SR environmental determinants. However, the SMEs internal decision-making autonomy towards SIM is low. In this scenario the SME is SIM compliant to the active social issue champion and its SP on that SI will be high. An external high market competitive advantage on a SI and high internal decision-making autonomy on SIM is what we termed the ‘‘moral leader’’ SME. In this scenario the market competitive advantage is high which states that a high SP is required by the SR environmental determinants. Since the SMEs sees that SIM is advantageous and it itself is the salient stakeholder it can decide on its own SIM. The SME will try to gain a competitive advantage on its SIM and will have an innovative approach to SIM and its SP on that SI will be high. An external low market competitive advantage on a SI and low internal decision-making autonomy on SIM is what we termed the ‘‘non-participant’’ SME. In this scenario, the market competitive advantage for SP is low which states that SIM is not a required by the SR environmental determinants. The SME’s internal decision-making autonomy towards SIM is also low. The SME will be a SIM follower where the salient stakeholder will be active and the SP on that SI will be low. An external low market competitive advantage on a SI and high internal decision-making autonomy on SIM is what we termed the ‘‘observer’’ SME. In this scenario, the market competitive advantage for SP is low which states that high SIM not a required by the SR environmental determinants. The SME’s internal decision-making autonomy towards SIM is high, but the external environment does not provide the business case to act on SI. The SME observes its environment and will adapt to SI when it sees a business case and its SP will be low.

Conclusions and implications for further research The business and society ﬁeld has made signiﬁcant strides in stakeholder theory development by pointing out that engaging stakeholders is crucial to identifying and raising normative standards of SI. We have made a global review of SME literature on SP drivers and barriers and we build a model of why SMEs address SI by integrating internal and external, drivers and barriers, of their SP to the stakeholder model. This was followed by developing a SME four-cell ideal type of social issues response typology based on a proposed heteronomy of stakeholder salience. A heteronomy of stakeholder salience proposes that

SELECCIÓN DE ARTÍCULOS IIS 2007 43 Artículos social issues are addressed as a function of and in subordination to a hierarchy of stakeholders of which the SME itself is one. Due to the relative power of different stakeholders, SMEs are not entirely autonomous actors solely addressing SI based on their own value schemes. Stakeholders create the normative expectations on SMEs for SI involvement; engagement in a SI depends on a multiple combination of barriers and drivers. Our theoretical contribution to the stakeholder model is the idea of heteronomy of stakeholder salience. To date the stakeholder model has proposed that the enterprise has relative bargain power to determine the instrumental stakeholders. We have demonstrated with Figure 2 that in the case of SMEs the instrumental value of a stakeholder, such as a supply chain agent, can be greater than that of the SME itself. Figure 3 divides SME stakeholder dialogue based on the autonomy of decision-making within the SME. The ‘‘customer depended’’ SMEs (SME1 to SMEn) show that the SME is subordinate to the larger customer, and it will be instrumental in SIM by sheer market power. In the case of the ‘‘autonomous’’ SME it will be able to select a SI because it is in a relatively equal relationship with its customers and environment. In this case the SME itself is the instrumental stakeholder (current stakeholder theory assumption). The two axi of Table II thus force us to think through the dominant questions that must be considered when faced with analyzing the SP of SMEs. Therefore, Table I helps to systematize the important issues to be taught and understood in an effort to clarify the SR of SMEs in the context of stakeholder theory. Understanding where an SME is positioned on the four-cell typology of social issue drivers and barriers of SME social performance (Table II) and who holds the power, according to Figure 3, will be important for policy makers as they need to push SIM on a two tear level to reach all SMEs. First of all, SIM needs to be pushed down the vertical supply chain to reach the customer depended SMEs. Secondly, a strong business case is needed to convince the autonomous SMEs that it is within their competitive advantage to practice SR. Furthermore from an SME practitioner perspective it is important that we move beyond the at times confusing definitions and classifications of SR and SMEs. Table I can serve as a tool for practitioners to help them systematically ascertain their own position within their particular heteronomy of stakeholder salience with reference to which SI they are faced with. This means that reflecting on the SR of an SME of a SI and linking it to the SP, is not separate and distinct from economic performance. Therefore, the table can also be used as a planning and diagnostic problem-solving tool. It points to the fact that in order for social issues to be engaged by SMEs they need to be integrated into the global strategy of the competitive context.

Figure 3 SME stakeholder instrumental types

44 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos A high social performance of a SME requires that: B the external barriers and drivers of the market competitive advantage based on SR issue be assessed; B internal drivers and barriers to the decision making autonomy on SR issue be weighted; and B a realistic bounded SIM philosophy be chosen. This paper is an initial introduction to a meaningful SME differentiation on social issues engagement based on two key determinants of social issues performance. The conceptual ideal types of Figure 1 are intended to help clarify the barriers and drivers of an SME SP. It also presents the notions of SR and SP of a SI in a context of economic considerations and the heteronomy of stakeholder salience. The model can help managers conceptualize the key drivers/barriers to their own SP and to improve planning and diagnosis of their SI. The model is a modest step towards the reﬁnement of stakeholder theory as applied to SMEs. In the future, research needs to empirically zero-in on the range and scope of each of the four cells of Table II.

Note 1. For the purpose of our discussion of SME SP we refer to Carroll’s three-dimensional conceptual model of corporate social performance, which brings together the social responsibility categories (economic, legal, ethical and discretionary), the philosophy of social responsiveness (Frederick, 1978; Epstein, 1987) and stakeholder involvement on social issues (consumerism, environment, discrimination) to assess an enterprises’ tangible performance (management system implementation, scope and scale of social issues addressed) on a given social issue (Carroll, 1979, p. 503).

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46 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Longo, M., Mura, M. and Bonoli, A. (2005), ‘‘Corporate social responsibility: MNCs and corporate performance: the case of Italian SMEs’’, Corporate Governance, Vol. 5 No. 4, pp. 28-42. Mitchell, R., Agle, B. and Wood, D. (1997), ‘‘Toward a theory of stakeholder identification and salience: defining the principle of who and what really counts’’, Academy of Management Review, Vol. 22 No. 3, pp. 853-87. Nutek (2003), Environmental Work in Small Enterprises: A Pure Gain?, Nutek, Stockholm. Oxfam International (2006), available at: www.oxfam.org/en/about/ (accessed 22 May 2006). Pinch, T. and Bijker, W. (1987), The Social Construction of Facts and Artifacts, MIT Press, Cambridge, MA, pp. 17-51. Raynard, P. and Forstater, M. (2002), Corporate Social Responsibility: Implications for Small and Medium Enterprises in Developing Countries, United Nations Industrial Development Organization (UNIDO), Vienna. Rutherfoord, R., Curran, J. and Smith, S. (1997), ‘‘Small business and community: the petit bourgeoisie in urban Britain and some implications for the small business’’, paper presented at Institute of Small Business Affairs Conference on Generating Growth, Belfast, November 19-21. Schumacher, E. (1973), Small Is Beautiful: A Study of Economics as if People Mattered, Blond and Briggs Ltd, London. Singh, A., Kundu, S. and Foster, W. (2005), ‘‘Corporate social responsiblity: MNCs to SMEs’’, working paper, School of International and Public Affairs, Columbia University, New York, NY. Social Accountability International (2006), ‘‘SA8000 certification’’, available at: www.sa-intl.org/index. cfm?fuseaction ¼ Page.viewPage&pageId ¼ 472 (accessed 4 May 2006). Spence, L. (1999), ‘‘Does size matter? The state of the art in small business ethics’’, Business Ethics: A European Review, Vol. 8 No. 3, pp. 163-74. Stanford Research Institute (1963), internal memorandum, in Freeman, R.E. (Ed.), Strategic Management: A Stakeholder Approach, Boston, MA and Pitman (1984), London. Strand, R. (1983), ‘‘A systems paradigm of organizational adaptations to the social environment’’, Academy of Management Review, Vol. 8 No. 1, pp. 90-6. Swanson, D. (1995), ‘‘Addressing a theoretical problem by reorienting the corporate social performance model’’, Academy of Management Review, Vol. 22 No. 4, pp. 887-910. Tilley, F. (2000), ‘‘Small firm environmental ethics: how deep do they go?’’, Business Ethics: A European Review, Vol. 9 No. 1, pp. 31-41. United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) (2005), Expert Group Meeting on SMEs’ Participation in Global and Regional Supply Chains Report, United Nations Conference Center, Bangkok. Windsor, D. (1992), ‘‘Stakeholder management in multinational enterprises’’, in Brenner, S.N. and Waddock. S.A. (Eds), Proceedings of the 3rd Annual Meeting of the International Association for Business and Society, Leuven, Belgium, pp. 121-8. World Bank Institute (2004), Can Small Be Responsibility? The Possibilities and Challenges of Corporate Social Responsibility among Small and Medium Enterprises, World Bank Institute, Washington, DC. Zadek, S., Pruzan, P. and Evans, R. (1997), Building Corporate Accountability: Emerging Practices in Social and Ethical Accounting, Auditing and Reporting, Earthscan, London. Further reading Carroll, A. (1991), ‘‘The pyramid of corporate social responsibility: toward the moral management of organizational stakeholders’’, Business Horizons, July-August, pp. 39-48. Cone (2001), The 2001 Cone/Roper Corporate Citizenship Study, Cone Inc., Boston, MA. McGuire, J. (1963), Business and Society, McGraw-Hill, New York, NY. Wood, D. (2000), ‘‘The not-ready-for-prime-time scholars: theory, research, passion and integrity in business and society’’, paper presented at Conversazione on Business, Issues and Society Conference, University of Northern Iowa, Cedar Falls, IA, 3-4 June.

SELECCIÓN DE ARTÍCULOS IIS 2007 47 Artículos Appendix

Table AI Drivers and barriers for SME social performance

Drivers Barriers Some key references

Internal stakeholders Owner/governance Governance/management style: Governance/management style: Kusyk and Espanyo´ (2006); Holistic approach Time constraint Bjoerkman and Hahn (2005); Longo Autonomy Inflexible et al. (2005); European Commission Positive values Not transparent governance (2004); Jenkins (2004a); World Bank Focused funding values No support Institute (2004); Longo et al. (2005); Core business strategy European Commission (2004); Attitude: GEEF (2003); Nutek (2003); Attitude: Not interested European Commission (2002); ‘‘way of doing business across the Not considered Jenkins and Hines (2002); Gaafland whole enterprise’’ Not relevant (2002); UNIDO (2002); Institute for Religious-based Not motivated Chartered Accountants (2002); Long-tem view Short-term profit-oriented Burns (2001); Gibb (2000); Jenkins Entrepreneurial Difficult to regulate (2004); Tilley (2000); Curran (1999); ‘‘Chore’’ Hillary (1999); Spence (1999) Risk-averse Perceived financial risk Lifestyle company Difficult to implement

Employees Personal relationships Not motivated Kusyk and Espanyo´ (2006); Motivational tool Understaffed Bjoerkman and Hahn (2005); Longo Cooperative Nepotism et al. (2005); European Commission Job satisfaction Low-skilled labor (2004); Jenkins (2004b); UNIDO Recruiting tool (2002); GEEF (2003); Burns (2001); Company culture improvement Jenkins (2004); Head (2000); Stimulate learning and innovation Greening and Turban (2000) High-skilled labor

Resources/ Resources: Resources: Bjoerkman and Hahn (2005); ESCAP management Manager-owned SME fragmented identity (2005); Longo et al. (2005); systems Implementation flexibility Justification of additional resource European Commission (2004); Continuous improvement tool (time and money) allocation Jenkins (2004a, b); World Bank SME size Capacity Institute (2004); Nutek (2003); SME age Technology European Commission (2002); Cost savings and increased efficiency Survival strategy UNIDO (2002); Institute for Improved productivity and quality Skills: planning and measurement Chartered Accountants (2002); Gibb Established business Short-term projects-oriented (2000); Tilley (2000); Curran (1999); Measurement of intangible benefits Hillary (1999) Information and understanding: Risk management No measurement of benefit Ad hoc management style Involvement without labeling Understanding of triple bottom line Information and understanding: business case No SR Past positive result Low awareness Inappropriate guidelines Unclear business case No information Inappropriate CSR-SME support Mixed message Confusion between monetary and non-monetary initiatives Confusion between internal and external initiatives Fragmented approach Non-applicable indicators

(Continued)

48 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Table AI

Drivers Barriers Some key references

External stakeholders Customer General: General: Bjoerkman and Hahn (2005); ESCAP Relationships with business partners Cost-conscious customers (2005); Longo et al. (2005); Singh and customers No customer demand et al. (2005); European Commission Partnership opportunities Limited response to end-consumer (2004); Jenkins (2004b); World Bank Network exposure pressure Institute (2004); Nutek (2003); Image and reputation Southern SMEs lack direct European Commission (2002); Customer loyalty relationships with northern Institute for Chartered Accountants Social conscious customer demand consumers (2002); UNIDO (2002); Gibb (2000); Market alignment Hillary (1999); Davis (1991) Market opportunity Supply chain: Cost-cutting top-down pressure Supply chain: from supply chain Top-down pressure from supply chain Top-down supply chain passes on knowledge Top-down capacity development help LEs set example LEs partner with SMEs in SR effort

Community Community in general: Community in general: Business in the Community (2006); Public relations Non-responsive to institutional Bjoerkman and Hahn (2005); Kusyk Networking pressure and Espanyo´ (2006); ESCAP (2005); Facilitate codes of conduct Inadequate communication Longo et al. (2005); European Community embeddedness channels Commission (2004); Jenkins International standards pressure Local focus creates resistance to (2004b); World Bank Institute LEs’ indirect influence on public SR international trends (2004); GEEF (2003); Nutek (2003); policy that affects SMEs directly Missing equal commitment from all European Commission (2002); sides of an SR project UNIDO (2002); Burns (2001); Dex Public infrastructure: ‘‘Fortress enterprise’’, detached and Scheibl (2001); Hillary (1999); Legislation from local communities Spence (1999); Curran and Anticipation of future legislation Volatile economic environment Blackburn (1994); Rutherfoord et al. Dependence on a stable social Lack of sector-specific guidance (1997); Goffee and Scase (1985); structure, a clean environment and the Lack of global industry-wide Carland et al. (1984); Schumacher prosperity of the community standards (1973) Involved by local government Public infrastructure: Operate in informal sector Inadequate commercial legal structures Lack of tax incentives for SMEs Poor funding of support services Profitable companies are discriminated against by funding drives Uneven distribution of support services across regions, issues and industries Lack of federal and local government support

Competitive Competitive advantage tool Cost-cutting-based competition Bjoerkman and Hahn (2005); Longo environment Industry characteristics have SR Illegal SME competition et al. (2005); Jenkins (2004b); accelerators based on issues, structure Difﬁculty to diversify risk European Commission (2004); and product SR initiatives are driven by LEs and World Bank Institute (2004); Nutek Conducive nature in the value chain not applicable (2003); European Commission Faith in the SR business case Irrelevance of agenda for SMEs (2002); UNIDO (2002); Burns Pressure from investment community LEs’ top-down pressure for (2001); Gibb (2000) cost-cutting

(Continued)

SELECCIÓN DE ARTÍCULOS IIS 2007 49 Artículos Table AI

Drivers Barriers Some key references

LE top-down pressure to implement SR only towards first-level supplier Investor community Marketing difficulties Lack of consumer demand Perceived as protectionist larger agenda Culturally inappropriate Industry characteristics have SR resistors based on issues, structure and product Restrictive relationship between different parts in the value chain Driven by LEs and their concerns SR standards undermine SMEs in developing countries Theory and practice Business case Relationship building with community Lack of financial measures of Longo et al. (2005); European Relationship building with business business case Commission (2004); World Bank partners/customers No business case benefit Institute (2004); Jenkins (2004b); Partnership opportunities Excessive focus on business case Nutek (2003) European Commission Improved image and reputation (2002); UNIDO (2002) Market alignment Business opportunity Employee motivation Recruiting tool Employee job satisfaction Cost savings and increased efficiency Improved productivity and quality Risk management Company culture Learning and innovation Definition Theory aimed at LEs European Commission (2004); SMEs are alienated Jenkins (2004a); World Bank The term is too general for some Institute (2004); Institute for SMEs Chartered Accountants (2002); Issues with LE theory drivers and UNIDO (2002) barriers Lack of alignment of SR on a global scale Unclear boundary between voluntary and mandatory standards

About the authors Sophia Kusyk is a Doctoral Candidate at ESADE in the social sciences department. Her research focus is ethics and organizational behavior applied to stakeholder theory. She is a lecturer at ESADE in the social sciences department in the doctoral and undergraduate program. As well as, she is a researcher in the Institute for Social Innovation at ESADE. Josep Maria Lozano is a professor at ESADE in the social sciences department and Senior Researcher on SR in the Institute for Social Innovation at ESADE. Josep Maria Lozano is the corresponding author and can be contacted at: [email protected]

To purchase reprints of this article please e-mail: [email protected] Or visit our web site for further details: www.emeraldinsight.com/reprints

50 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos RODRIGO, P.; ARENAS D.

ARTÍCULOS “DO EMPLOYEES CARE ABOUT CSR PROGRAMS? A TYPOLOGY OF EMPLOYEES ACCORDING TO THEIR ATTITUDES”

Journal of Business Ethics (accepted, available online).

SELECCIÓN DE ARTÍCULOS IIS 2007 51 Artículos 52 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Journal of Business Ethics Springer 2007 DOI 10.1007/s10551-007-9618-7 Do Employees Care About CSR Programs? A Typology of Employees Pablo Rodrigo According to their Attitudes Daniel Arenas

ABSTRACT. This paper examines employees’ reactions Introduction to Corporate Social Responsibility (CSR) programs at the attitudinal level. The results presented are drawn from an Today it is nearly impossible to discuss Corporate in-depth study of two Chilean construction firms that Social Responsibility (hereafter CSR) without ref- have well-established CSR programs. Grounded theory erence to the stakeholders of companies. The term was applied to the data prior to the construction of the stakeholder became well known through the work conceptual framework. The analysis shows that the of Freeman (1984) in management literature, which implementation of CSR programs generates two types of attitudes in employees: attitudes toward the organization started an intense debate about the role of stake- and attitudes toward society. These two broad types of holders and their importance and legitimacy attitudes can then be broken down into four different (Mitchell et al., 1997). The most basic definition categories: (1) acceptance of the new role of the organi- establishes that stakeholders are those groups or zation, (2) identification with the organization, (3) individuals who may affect or be affected by the importance attached to the work performed and (4) a organization’s purpose or achievement (Freeman, sense of social justice. In turn, each of these categories is a 1984). However, many scholars have suggested that grouping of many different concepts, some of which have this perspective is too broad, because in the final at first sight little to do with CSR. Finally, the analysis analysis all social players are directly or indirectly reveals an attitudinal employee typology: the committed affected by the actions of firms. As a result, a lively worker, the indifferent worker, and the dissident worker. debate began to address how and why a stakeholder KEY WORDS: CSR, employee attitudes, employee is relevant to a firm. typology, grounded theory, qualitative research, social This, in turn, led to various stakeholder classifi- justice, stakeholders cation schemes (cf. Mitchell et al., 1997). For example, it has been suggested that there are primary and secondary stakeholders (Clarkson, 1995; Fred- erick et al., 1988), according to the degree of impact that they have on the organization in terms of Pablo Rodrigo is Associate Professor at Adolfo Ibań˜ez University achieving its mission and corporate objectives. Other (Chile), where he teaches Organizational Behavior, Orga- frameworks have suggested that stakeholders be nizational Theory, General Management, Human classified as either voluntary or involuntary (Mitchell Resources, Business Ethics and CSR. He is PhD candidate et al., 1997). Voluntary stakeholders are those groups in Management Sciences from ESADE Business School- for which there is some degree of risk, because they Universitat Ramon Llull, where he collaborates as researcher in the Institute for Social Innovation. have invested large quantities of money, personnel, Daniel Arenas is Associate Professor at ESADE Business technology, or other resources in the firm. On the School-Universitat Ramon Llull, where he teaches Business other hand, involuntary stakeholders are those who Ethics, CSR and sociology. He is the Head of Research of are interested in the firm because its actions affect the Institute for Social Innovation at ESADE and a member them even though this was not the intention (they of the management committee of EABIS. have nothing to gain from it). Goodpaster (1991)

SELECCIÓN DE ARTÍCULOS IIS 2007 53 Artículos Pablo Rodrigo and Daniel Arenas

suggests a distinction between fiduciary and non- stakeholders has mainly been centered on the fiduciary stakeholders; he establishes that there are shareholders. As a result, research of this kind, albeit groups – such as shareholders – who have placed confined within its field of application, is relevant their trust in the firm’s management to conduct insofar as it develops this area further. In view of this, business for them. Internal and external stakeholders the research aims to answer the following questions: have also been established, and they are distin- guished according to whether or not they find • What elements shape different employee atti- themselves within the legal and administrative limits tudes that emerge with the implementation of the organization (Cavanagh and McGovern, of CSR programs? 1988; Mitroff, 1983). Through these various • What employee typology does the successful typologies, separate studies may be made to establish implementation of CSR programs generate? the relationship between a particular firm and its stakeholders. Attitudes may be understood as value judgments Independent of the classification presented, one held with respect to something. The formation of an relevant stakeholder that must always be included are attitude is based on different components: a cogni- the personnel of an organization. According to the tive component, the opinions or beliefs of an indi- analysis of Mitchell et al. (1997), employees possess, vidual; an affective component, which is related to to a greater or lesser extent, the three characteristics the feelings or emotions of an individual; and a which validate their role as stakeholder, namely, behavioral component, which is related to the legitimacy, urgency, and power. Some go even intention to behave in a certain manner (Beckler, further by claiming that in the knowledge society, 1984; Crites et al., 1994). This study does not aim to this stakeholder contributes to the firm with some- separate these different components, but to under- thing more essential than capital (Drucker, 2001; stand, as a whole, the attitudes that emerge among Handy, 2001). However, this stakeholder has employees. received relatively little attention in CSR literature, This study is based on two cases drawn from the at least when compared to other groups. This is construction sector in Chile, published in 2004 by especially surprising because attraction of talent, one of the authors for teaching purposes.1 The cases loyalty to a firm, and motivation have been used to describe successful initiatives to implement CSR explain why CSR can be a source of competitive programs. The material compiled to draw up the advantage to a firm (Branco and Rodrigues, 2006). cases (in-depth interviews, hours of recordings, Even less attention has been devoted to the differ- documents, and notes based on observation in the ences among employees in relation to CSR, pre- field) was sufficiently exhaustive to develop other supposing that this group’s expectations, views, and aspects which were not dealt with in the cases. Based attitudes were homogeneous. This research seeks to on the aforementioned material and the application make an in-depth analysis of employees’ reactions to of grounded theory methodology to codify the the implementation of different types of CSR pro- underlying concepts (Glaser, 1978, 1992; Glaser and grams and to offer an employee typology. CSR will Strauss, 1967; Goulding, 2002; Patton, 2002; Strauss, be broadly understood here as the introduction of 1987; Strauss and Corbin, 1990), we develop a social and environmental criteria and practices into framework to clarify the attitudes that appear in the operations of the firm. This may take very dif- employees following the implementation of CSR ferent forms depending, among other things, on the programs. type of sector, on the company history and shared culture, and on the values of its top management. Generally, the form taken by a CSR program de- Methodology pends also on the type of stakeholder that it intends to satisfy. Selection of cases Research has usually focused on the effects of CSR on consumers or other stakeholders outside the The cases selected are two firms from the Chilean organization, whereas concern for its internal construction sector that implemented CSR initia-

54 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Employees Care About CSR Programs tives.2 Although some authors insist on the impor- 1990s, thanks to the sustained growth of Chile’s tance of several cases in order to construct a theory GDP.5 However, as a result of the Asian Crisis (cf. Eisenhardt, 1989; Yin, 2003), grounded theory which severely affected Chile in 1998–2000, this operates according to the principle of theoretical economic sector suddenly slowed down. In a bid to sampling. In other words, the cases studied were not cut costs, the company decided to axe its HR selected at random, nor were they selected in a department (and all its associated activities). Never- quantity that will best represent the population. On theless, contrary to all expectations, the company the contrary, we selected cases on account of their reported even poorer results, due mainly to the loss particular characteristics (differences and/or similar- of confidence and the insecurity that the employees ities) that permit the constant comparison of data at all began to feel. The owner (and executive director) of times (Glaser and Strauss, 1967; Strauss, 1987; Strauss the company began to isolate different factors, and Corbin, 1990; Goulding, 2002) in various realizing that besides the importance of an HR organizational contexts for the purpose of gen- department to company results, the problem lay in eralization (Eisenhardt, 1989; Pettigrew, 1990; the lack of suitable conditions for creating a high Orlikowski, 1993; Miles and Huberman, 1994; Yin, QWL, which could be a key factor in employee 2003), thereby increasing the explanatory power of productivity. the different patterns and concepts that may be ob- Therefore, the HR department was reinstated and tained (Glaser and Strauss, 1967). given broad powers, while measures were imple- Indeed, the two cases presented were selected mented in order to raise the QWL over and above according to the theoretical sampling criterion de- the level stipulated by law. The company imple- scribed. Two totally different scenarios on the same mented many different activities like the ‘‘solidarity economic sector were studied, which made it easier fund’’ to assist employees primarily in health and to cross data and make comparisons. Furthermore, educational matters; and the ‘‘values’ promotion the type of CSR practice or initiative in which the campaign’’ to spread values like solidarity, justice, two companies are committed is very different and – and tolerance among its employees. Of all these as will be explained later – their main CSR activities activities, particular mention should be made of the are oriented for different stakeholders. From a ‘‘Happiness Month,’’ designed to bring workers methodological point of view, this is a key element from all levels of the company closer to one another. to facilitate the constant comparison of data and to For the period of an entire month, the company construct a framework that can be applied to situa- celebrated its anniversary with parties, competitions, tions that share similar characteristics. departmental activities, and free afternoons for sporting activities. These activities were undertaken Summary of Case A during working hours (for the whole afternoon, or Company A is a construction company founded in even the whole day on some occasions), so that 1980 which, from its very beginning, was focused on during this month employees worked considerably housing for the middle-income sector of society. To fewer hours than in the course of a normal month. date it has a high market share in this business niche.3 According to the data provided by the corporate This company has recently applied a fairly high level management system, the productivity of the of technology in order to deliver high-quality employees with contracts showed an average in- products, but it continues to be labor intensive. As crease of 3.8% over the previous month. for CSR, the company has applied an initiative in- These QWL activities have been monitored by tended to improve the quality of the working life means of various indicators during the last five years (hereafter QWL) of its employees.4 in an effort to understand how, by means of these The rationale behind this concern is due to a programs, the company has improved the level of severe financial crisis that shook the company and internal communication, the employees’ perception convinced its managerial team of the importance of of benefits, importance attached to work, and rela- the firm’s human resources in order to achieve its tions with management, among other factors. These objectives. Indeed, Company A showed strong indicators have shown an improvement over time growth during practically the entire decade of the for permanent staff (with indefinite contracts);

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however, this situation has not been applied to their operations. The agreement only lasted 2 years, workers contracted for individual projects. and after this each company was free to act as it wished. However, company B, in accordance with Summary of Case B the principles and values explicit in its new planning Company B, founded in 1947, corresponds to one of strategy (in which environmental issues were a major the largest construction companies in the country, concern), not only continued with the program, but which specializes in large-scale civil engineering also transformed it into an environmental policy. In projects both in Chile and Latin America. These operational terms, this concluded with the estab- projects range from factories and large shopping lishment of its Environmental Management System malls to hospitals, office tower blocks, and univer- (EMS). Broadly speaking, through the application of sities. The company has a high market share and this system, each engineering assignment had to provides direct employment for more than 5,200 anticipate the environmental management proce- employees. dures and activities to be pursued in order to com- The CSR programs of Company B focused plete the project, which at the same time made it primarily on two areas. In one area, there were possible to calculate the cost of the environmental many ‘‘community development’’ initiatives, such initiatives. All these concerns and initiatives had as a foundation which provided ambulatory surgery repercussions in the organizational structure with the to the poorest people, a scholarship fund for out- creation of the environmental management depart- standing but poor high school students who wish to ment. study engineering, and many cultural activities (i.e., All the aforesaid has a fundamental importance, conferences, workshops, seminars) for employees, because in the segment of the construction industry clients, and suppliers. The second area dealt with in which company B operates (civil engineering), environmental issues. Given the magnitude and projects are awarded by public tender (based almost characteristics of the company’s operations (which entirely on price), with the participation of large implied an intervention in both natural and human Chilean and Latin American companies. According settings), this area was the main focus of its CSR to calculations made by the company, a project can activities. Since the company was founded, its be lost by a margin of 0.1% in the costs; however, business philosophy embraced the principle of the average increase in the costs of a project due to austerity, the concept of work well done, and the the operation of an EMS is between 0.3% and 0.8%. fulfillment of obligations undertaken. These prin- Therefore, if the company were to cut its entire ciples underpinned and guided company opera- EMS, it would win some tenders that it currently tions. As a result of the second of these three loses. commitments, projects often cost the company more than what was planned. Although customer Data sources specifications were not always as demanding, the In order to ensure the best interpretation of the data, company often improved the quality while assum- we applied a triangulation of data sources with re- ing the higher cost. This outlook was also evident corded in-depth interviews, analysis of reports and in its last corporate planning process in 1999, when other documents, and field notes taken during direct the company channeled all these principles and observation. By means of this procedure more values into a new vision and a new mission for its accurate comparisons could be made of the partial various business areas, with an obvious effect on its results, and in this way a more solid theory could be objectives and strategy. elaborated covering the various aspects of the situ- During this same period, in January 2000, the ation under study (Eisenhardt, 1989; Goulding, ‘‘Clean Production Agreement of the Metropolitan 2002; Orlikowski, 1993; Patton, 2002; Pettigrew, Region Construction Sector’’ was signed, whereby 1990; Yin, 2003). several construction companies (the largest ones) For Case A, 35 in-depth interviews were con- made a commitment to the Ministry of Economy, as ducted during the first half of 2003,6 averaging well as to the Clean Production Committee, to approximately 1 hour and fifteen minutes. Break- implement voluntary environmental measures in down of the interviewee groups is as follows: 37.5%

56 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Employees Care About CSR Programs were conducted with members of the board of under construction was visited in order to analyze directors or top managers, 25% with middle man- the execution of the environmental management agers or employees (such as supervisors, senior system and to observe the behavior of employees in executives, and so on), and 37.5% with low-level the field. workers, mainly on project sites (almost 60% of these With all these sources, we codified all the data and workers were hired only for the project, and lacked a made constant comparison among all codes in order long term relationship with the company). Follow- to arrive at a meaning that is consistent with the ing grounded theory methodology and the constant phenomenon studied (Glaser, 1992). We followed comparison technique, the number of interviews this procedure until we reached theoretical satura- was not determined a priori, but in response to the tion, following one of the main principles of need to acquire new perspectives that would make grounded theory (shared by the two lines within this it possible to confirm the emerging concepts and methodology): each new comparison leads to the categories (Strauss and Corbin, 1990), while the final same interpretation of a concept, property, or cate- aim was always to look for a model or theory in this gory (cf. Glaser, 1978, 1992, 2004; Strauss, 1987; data comparison process (Glaser, 1978). Strauss and Corbin, 1990).7 Since the interviews conducted were semi-structured, we followed a protocol (see appendix 1) as a reminder for us about the main points to discuss, but Results allowed the employees to wander off, conversa- tionally speaking, in different directions. The longer General framework and more comprehensive interviews were those conducted with the management team, and in some After applying grounded theory methodology to all cases these lasted an entire morning. By contrast, the materials and comparing the codes over and over some of the interviews conducted in the field with again until a solid and coherent result was obtained, low-level workers lasted only fifteen minutes, since the study revealed the existence of two large groups they felt that their working privacy had been in- of general employee attitudes after the implemen- vaded, or they felt intimidated, while some also tation of CSR programs. We called them ‘‘attitudes harbored some mistrust, assuming that they were toward the organization’’ and ‘‘attitudes toward taking part in a study on process reengineering. society.’’ While we expected that different attitudes This was combined with the analysis of docu- toward the organization would emerge or change, it ments relating to operational performance, infor- was surprising to find the emergence of broader mation from the human resources department on the social attitudes. Here, we found attitudes about the organizational climate and quality of working life, in relation between one’s work and the improvement addition to company reports providing an insight of social conditions as well as sensitivity about social into the evolution of the CSR programs imple- injustice. Moreover, despite the fact that none of the mentation process. Finally, one of the work sites (a individuals was asked about the role that he or she ‘‘satellite town’’-type project) was visited for obser- assumed during the interview, it is interesting to vation, in order to analyze the running of operations, point out that the individuals tended to assume the as well as the activities and attitudes of the workers. role of citizens for the first group of attitudes, and For Case B, fewer interviews were conducted the role of workers for the second. In other words, (28) during the final quarter of 2002 and January they talked about their organization from a citizen’s 2003, but their average duration was longer (one perspective and about their society from an em- hour and fifty minutes) and we received more open ployee’s perspective. responses from employees. Twenty-five percent of The two groups of general attitudes could be the interviews were conducted with board directors broken down into two basic categories for each or top managers, 41.7% with middle-level managers group. Finally, the degree to which these are ac- or employees, and 33.3% with low-level workers cepted or developed suggests different types of mainly on project sites (in this case almost 45% of employees (see Figure 1). The categories that form these workers were temporary workers). A hospital the group of attitudes toward the organization are

SELECCIÓN DE ARTÍCULOS IIS 2007 57 Artículos Pablo Rodrigo and Daniel Arenas

ATTITUDES TOWARDS THE ATTITUDES TOWARDS ORGANIZATION SOCIETY

Acceptance of new concept of Importance of the the work performed organizational social role

TYPES OF EMPLOYEES (Final categories of employee attitudes)

Identification with the Sense of Social organization Justice

Figure 1. Reactions of the employees after the application of CSR programs.

acceptance of the new role of the organization and environmental repercussions of its actions in the identification with the organization. In turn, the areas in which it operates. A middle-level manager categories that generate the group of attitudes to- in company B (41 years old and with more than ten ward society are the sense of (social) importance that years at the company) stated: employees attach to their work and the sense of social justice that they develop as a result of the CSR Companies are a fundamental part of society because programs. they are the basis of economic growth. In today’s The first reaction one encounters among world, companies are even more powerful than some states and the influence of their operations can deter- employees (and hence the direction of the arrows in mine the progress of an entire community. Maybe in Figure 1) have to do with how they perceive the the past it was the same, I don’t know... but as a dif- change in the organization’s social role. It was ob- ference I can say that in the past only some companies served that with the introduction of CSR programs, took these kinds of actions, but right now almost every employees developed different behaviors, emotions, company —even the smallest ones— know that they and cognitions about the new role that the company have to improve community standards, the environ- assumes as a satisfier of social needs beyond the ment and be economically profitable as well. delivery of high-quality products or services, or handing over a salary at the end of the month. Due to As a result of the coding and analysis undertaken, the introduction of CSR programs, employees asked it may be established that the category ‘‘acceptance themselves whether the social context is changing and of the new organizational role’’ is composed of the whether companies need to reorient their priorities. following: an understanding of firms as a means of In this respect, many employees did not previ- social development, a reflection on the general ously show great concern for social issues (or were function of the firm within society, a view about the not aware of them) or took it for granted that it was State as a satisfier of social needs, an understanding of the State that should concern itself with such issues. the good neighbor relationship between the firm and With the introduction of CSR programs in their its stakeholders, and the perception of CSR as a companies, some of them reorganized their beliefs management fashion. There are, however, various and expressed the view that in today’s globalized degrees of acceptance to be observed in this cate- world the private company has a responsibility gory, ranging from some employees who are beyond its immediate and traditional business sphere immediately convinced of the new organizational and must concern itself with the social and role, subscribing to it wholeheartedly, to others who

58 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Employees Care About CSR Programs simply do not accept it. For instance, another person costs. But the managerial team prefers to earn less interviewed (a 34-year-old middle-level manager money than compromise this commitment, because with five years at company A) explained his views they are convinced that honesty, quality, and respon- about the role of company in society in the fol- sibility to society and the environment are company lowing way: trademarks and they manage it in such way to let all the organization know that this is – and will be – our I think the CSR actions undertaken by the company way to do business. could bring benefits to people, but let me be clear: I In the same way, if employees feel that the think a company is not in business to satisfy social organization is being a good citizen, they feel proud needs and these kinds of things. I don’t know the to be a part of it. This is partly related with the owners’ thoughts, but from my point of view the only reason to do this is due to a market trend or a market employee’s perception of the results or effects of the opportunity. I still believe in the old business is business. CSR programs implemented by the organization: the individual feels that his or her contribution to In Table I, we can see how the category is broken society has a smaller impact compared with the social down into its different concepts and the various contribution that the organization can make, and so degrees of acceptance. According to the methodol- the employee’s wish to make a social contribution is ogy followed for this study, the focus is of course not satisfied through the organization. Thus the em- on ascertaining how many workers would be in each ployee’s identification with the organization is grading level, but rather on gaining a better under- commensurate with his or her feeling that the standing of the categories and exploring these in organization is a good citizen. more detail. A third concept that appeared related to the According to our research, the perception that the category of identification with the organization is organization has assumed a new role together with a personal work style. Through this concept, one can favorable reaction to it leads many employees, who understand the workers’ degree of commitment to formerly felt that the organization was simply a place their work. Some employees seem to take their of work, to view it as an institution that shares their work as if they were in some way the owners of own social views. As a result, employees also develop the organization: they take their responsibilities an attitude of identification with the organization more seriously and they increasingly feel that they (see Table II). The category ‘‘identification with the are part of the organization, which is not the case organization’’ contains four explanatory concepts. with other work styles. This could probably be Congruence felt by the employee with organiza- determined by other variables of a psychological tional values proved to be the concept that was nature (such as perseverance and pressure to keep associated most with organizational identification. As one’s job), in addition to educational variables (such a result of this congruence of principles, values, as the type of studies completed and the formation outlook, philosophies, or ways of thinking (these are of values). the various names obtained in the research), Finally, the fourth concept which emerged in employees see their social vision reflected in the relation to identification is the overall degree of job fundamental values declared and practiced by the satisfaction expressed by employees during the organization. A young executive in an entry-level interviews:8 if employees are dissatisfied with their position in company B (26 years old, first year at the specific job and the atmosphere around them, they company) told us: do not identify with the organization in spite of the implementation of CSR programs. The majority of One of the reasons that I applied for this job was the company’s reputation in the market. Since the first day employees at lower levels of the organizational when I saw the commitment that both managers and structure who were interviewed expressed a low owners show every day in order to improve standards degree of satisfaction and said that they identified and the quality of the final work, I realized that my somewhat less with the organization as a result. In- decision was adequate. All the CSR actions performed deed, a representative answer of a low-level worker by the company respond to this commitment, even if (32 years old with almost six years’ temporary work this sometimes leads to an increase in the operational experience at company A) is the following:

SELECCIÓN DE ARTÍCULOS IIS 2007 59 Artículos Pablo Rodrigo and Daniel Arenas to organizational role understand what CSR is Firms do whatever isessary nec- to win at all times The State should control all social aspects Is not sure what thethe role firm of is Does not understand (or share) the new roleorganization of in society New role not accepted Lack of clarity with respect Yes Yes, but does not really The firm is abor good as neigh- long as itthe acts law within Believes in the firmproductive as entity a that is not interested in carrying out any social action The State should satisfy the basic needs so that themay firm fulfill its economic role in society Does not view CSRchange as in a the organizational role, but asporate a management cor- philosophy Grading evolution TABLE I Acceptance of new role in program It depends on theinterest strategic of the firm Believes in the firmeminently as productive an entity, this being itssocial principal contribution The State should offer firms economic incentives to implement CSR Understands the new role through the implementation of the CSRbut programs, is not surehave that a it genuine will effectsociety on (or acquired) New role accepted No No, but it depends on the Fundamental - the path that the firm shouldtake always Believes in firms as ato means satisfy social needs Voluntary CSR is more efficient than the actionthe of State in some areas Understands the new social role and shares it Category ‘‘Acceptance of new organizational role’’: Grading matrix and component concepts CSR as a management ‘‘fashion’’ Good neighbor relationship between the firmits and stakeholders The State as asocial satisfier needs of General function of the firm within society Firms as means ofdevelopment social Concepts

60 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Employees Care About CSR Programs

How do I feel about it? Look, it takes me an hour and a half to arrive to work, I get up everyday at 05:30 in the morning and I don’t earn too much money and I have two kids. Do you think I’m happy here? No, but I have to work. At least in this company there is real concern about our security, about a nice place to eat and in general about good facilities for the workers in the workplace, but the main problem is the labor insecurity: I don’t know if I’ll be hired for the next Does what he/shemust is be done told Does not share the values project. Nevertheless, the new social role of the organization perceived by the employees not only affects employee identiﬁcation with the organization, but at the same time it leads to the generation of attitudes toward society, thereby creating the second group of categories (see Figure 1). With the new social role of the organization, employees may feel that what they do has an importance that transcends purely eco- Does what isthe indicated job by description ity of values nomic aspects, leading them to feel that their work may contribute to a better society (see Table III). Grading Behind this there is a concept of self-transcendence generated in part by the CSR initiatives undertaken by the company. For example, the general manager and founder of company A (around 55 years old) was very clear about this:

TABLE II When we cut the entire HR department at the end of ‘90 I felt so bad that I was wondering about the meaning of work to human beings and the social consequences of Makes an effort beyond the job description a good and a bad workplace. I couldn’t sleep well for several weeks. When we started with our QWL programs and then I received the first indicators that showed an improvement in both work climate and productivity I began to feel... how can I say this? Full... with a sense of work well done in a broader sense. However, it is important to understand that although appropriate CSR programs may be applied High identification Intermediate identification Low identification No identification Highwas the owner Intermediate Low Non-existent Shares all the values Shares some values Does not share the major- both internally and externally, the data showed us that routine at work is a key negative factor with Category ‘‘Identification with the Organization’’: Grading matrix and component concepts respect to the social importance attached to one’s work. It was found that although many employees could reach the point of feeling that their work might be important, the simple memory of the tediousness of an activity diminished or destroyed this incipient feeling. An experienced worker in company B (52 years old and more than fifteen years at the company) reflected on this issue:

I’m part of the union and in our last monthly meeting Job satisfaction High Intermediate Intermediate – Low Low Company ascitizen a goodPersonal corporate work style Works as if he/she Concepts Congruence with Organizational Values (after application of CSR) we discussed the importance of CSR in our work in

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the sense that it is a way to see work as a contribution to all human society and not as a way to make richer only a few people. But sometimes it is very difﬁcult, especially for young companions, to think about society when the job is very boring, monotonous, and doesn’t offer many growing possibilities. Although it might seem somewhat extraneous to the topic at hand, one of the concepts that clearly emerged in the data collected was the sense of social justice, which is part of the larger category that we They feel that theirpunishment. work They is feel a frustrated by being in athey situation cannot in stand which whatbut they at do, the sameescape time they cannot Great change: negative labeled ‘‘attitudes toward society’’ that emerge with the implementation of CSR programs. This sense of social justice seems largely explained by the level of ethical training an individual has received and even by the general education received throughout their lives (see Table IV). We found that the majority of employees who had a relatively solid basis of humanistic education in their studies used arguments related to the concept of social justice and considered this concept essential in their worldview. They feel that theirallows work them to feedfamily their and live likeother any person, but nothing more There is no perceptible change

Grading However, this does not mean that an employee without this type of training could not ‘‘feel’’ that social justice is something important (although sometimes they may not be able to define the concept correctly). In this respect, personal experience has a considerable influence, inasmuch as it can lead TABLE III employees to identify with persons who have been marginalized, exploited, or even socially oppressed. In this case, one could refer to a degree of ‘‘prac- They feel that theirmay work manage to contribute something insofar as they reach positions of greater authority and they have decision-making power change tical’’ social justice. Thus, the feeling of social justice that employees have can be instigated by either theoretical knowledge or practical knowledge. However, the perspective of social justice can sometimes be expressed as a concern for one’s own situation, leading even to negative reactions to CSR programs undertaken by companies. A low-level worker in Company A (29 years old and five years’ Category ‘‘Sense of Importance of Work’’: Grading matrix and component concepts

High importance Intermediate importance Low importance No importance temporary work experience with the company) Employees feel that their work can leadsubstantial to changes in the world or inmate the of cli- the organization itself Great change: positive There is no perceptible Highexpressed: Not questioned Low Low

I just can’t understand why the company spends so much money on these activities. It is an injustice because we work a lot but only the employees at the office receive the benefits. We were talking with the company to gain a permanent contract and nothing happens. A close relationship was also discovered between this category and the sense of the importance of Concept Work as a means toof an a end higher orderor (personal group-focused) Change in self-fulfillment (as a result of CSR) Company’s contribution to a better world in the future Work routineone’s work. Low or non-existent The Low more employees feel Intermediate that their High

62 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Employees Care About CSR Programs developed Not interested in humanistic or ethical training. Does not ﬁnd it practical. Aware of cases through secondary sources, but maintains that those concerned deserve to besuch in situations or itfault. is Does their not assumeresponsibility any as a member of society Believes that it isher not responsibility his/ Has not received humanistic or ethical training Indirectly aware of cases, but is not greatly interested because of his/her own problems Believes that he/she cannot do anything tothe change social structure Grading TABLE IV Has received humanistic and ethical training at some point Has no direct experience, but is aware ofthrough cases others Believes that he/she can contribute, depending on the work Category ‘‘Sense of Social Justice’’: Grading matrix and component concepts Highly developed sense Fairly developed sense Poorly developed sense Sense of justice not shops related with general humanistic training or business ethics (ﬁnanced by the company or privately) Has personally experienced, through family members or through private social activities, the reality of what itbe is oppressed like and to in need Believes that his/her work contributes to improving social injustices Properties Ethical training Attends courses or work- Personal or close experience Individuals with the capacity to contribute (to the development of social justice through work)

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work within the organization is important and has a internal), but they emerge from the constant com- social meaning, the more their sense of social justice parison of all the data, which leads us to a general is satisfied. Yet, some employees often feel power- model. On the basis of all this, we conclude that the less, especially in the face of abuse or malpractice of employees can be classified into three basic types some firms they read about in the press or hear about according to their general attitude toward these through friends and reference groups. Interestingly, a initiatives (see Table V). The first type is the Com- manager’s assistant (32 years old with more than five mitted Employee, who on account of his or her per- years at company A) told us about the importance of sonal characteristics (studies or experiences), is very CSR programs in order to get acquainted with these concerned about social welfare and social justice, and situations: receives the CSR practices implemented by the organization with great enthusiasm. These employ- When I talk to my father, who is old and retired from ees have a positive perception of the new social role business, it is impossible to arrive at a conclusion about of the organization, which leads them to identify poor and oppressed people. For him, they are just lazy. with it. Due to the considerable sense of importance But he lived in a different time; he can’t understand that they perceive in their tasks, together with the that the world is changing and not all people can have an access to welfare. Here at the office many workers organizational identity achieved, they work over and arrive to see the manager with different problems and above the objectives set, and so their average perif one spends just ten minutes with them, it is formance tends to increase. They can be found at all impossible not to share their views and to think about levels of the organization, although it is generally the the injustices in our current economic system. With top executives and owners who demonstrate this these activities, the company is offering me the commitment. Their average age ranges from 40 to opportunity to give a hand to people and to reduce 65, they have a family and family obligations, and inequality. the majority have some type of technical training or are graduate professionals. The second type of employee is classified as the Employee typology Indifferent Employee. Their work is not oriented toward social concerns, but toward the development Having seen the general attitudes, the concepts they of their own career. They share the concepts of are composed of and the different levels of accep- social justice, but essentially from a theoretical rather tance, identification, or development, we found than a practical perspective, since their pragmatism important differences among employees with respect makes them focus on their jobs. They understand to their reaction to the implementation of CSR the new social role of the organization, but regard it initiatives. These differences do not depend neces- simply as a new organizational model with which sarily on the type of CSR initiative being imple- they must work and try to fulfill as best as they can. mented (for example, more external versus more They would not say they are for or against it. These

TABLE V Characteristics of each type of worker based on the categories identiﬁed

Type of Acceptance of the new Identiﬁcation with Sense of importance Sense of social justice worker organizational role the organization of work

Committed Accepted High High Highly developed Indifferent Acceptance evolving or Low or indifferent High or intermediate Poorly developed or not accepted not developed Dissident Not accepted or does not Nil Low or nil Highly developed (feeling possess a clear concept of it he/she is a victim) or moderate

64 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Employees Care About CSR Programs workers are extremely efficient, because in wishing for these workers, since their ages range from 18 to to further their career they always try to do things 65. They do not have any technical, professional, or well. But rather than identify with the organization, graduate qualifications of any kind, just sporadic they identify with the task (or area of work) in training that they have completed in the workplace. which they are engaged: their aim is to be recognized as good workers in order to climb the organizational ladder, or to be recognized in the market Discussion and thereby gain more opportunities for working elsewhere. Thus, the implementation of CSR According to the characteristics of the grounded practices by the company does not raise or lower theory method, which is described as an inductive their organizational commitment, which is of technique based only on empirical data for devel- intermediate intensity. They can generally be found opment of a model or theory (Glaser and Strauss, at middle and high professional levels in the orga- 1967; Strauss and Corbin, 1990), it could be assumed nization, and have good chances for promotion. that prior knowledge that may exist with respect to a Their average age ranges from 25 to 35, some have a similar phenomenon should not be considered in family and others do not, while all of them have research so as not to affect the emerging theory. professions that are in high demand. Following Suddaby (2006) we consider this extreme The final type that clearly emerged is the Dissident to be erroneous since it would prevent advancement Employee. These workers ask themselves why the of knowledge and the formation of stronger theories. money on CSR programs is not spent on increasing The results must also be interpreted through the salary scale or on offering incentives to workers knowledge in other areas of study or similar theories instead of spending it on things that are intangible or to validate new discoveries, and to try and under- external. They regard their work as simply a source stand the reasons for the results (cf. Goulding, 2002). of income that enables them to live, because they are In the same way, it is important to compare the not interested in the social significance of what they resulting theory with conflicting literature to in- do. In general, they maintain that they have a keen crease the reliability of the result and to facilitate sense of social justice, but are focused toward more creative conclusions (Eisenhardt, 1989). themselves or their immediate group. They want the Our results demonstrate that there are indeed benefits of social justice, but do not see the need to workers with a positive attitude following CSR contribute to it because they feel socially marginal- program implementation, and others who have an ized or disadvantaged themselves (at best, they are indifferent or contrary attitude; yet surprisingly we interested in social justice ‘‘for their kind’’). Thus, could not find in our research a cautious type with they are not interested in the new relational role of a possible good general perception about these the company, unless they receive direct advantages initiatives but waiting to see long-term social and to their salary or benefits (their principal concern, as corporate results. The very characteristics of the shown in one of the examples above) as a result. construction sector in Chile lead to this conclusion. They tend not to identify with the organization in Indeed, in this industrial sector, there are in-house any way, and they do not contribute any more than employees who are pursuing a career in the orga- they are specifically asked for – and sometimes nization (at various levels) and ‘‘temporary work- contribute even less. The implementation of CSR ers’’ contracted only for a project. The latter, most policies often depresses and frustrates them, or it of whom belong to the dissident worker type, are leads them to rebel against the company, as a result dismissed as soon as the work is finished and re- of which they are less productive. They are generally hired in accordance with the particular construction found at low or very low levels of the organization needs at an average salary slightly higher than the (they may even be temporary workers, without a legal minimum.9 They have no job security and no permanent contract), on a salary scale that is only just large organizational benefits either since, strictly higher than the minimum wage (nor do they enjoy speaking, they do not form part of the company, any other type of benefit), and so they find it hard to although often they are the same workers who are satisfy their basic needs. There is no clear age profile contracted.

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Trade union organization in the sector is complex inequality, they will feel a tension that will lead to a due to the characteristics of the contracts, and to the behavior that tends to eliminate this inequity. Thus, fact that unions are not able to act in coordination to the workers with temporary contracts feel that there gain improvements. Furthermore, since the main is an inequality between what they contribute and (even sole) concern of workers without a permanent what they obtain in comparison with those contract is more stability and a higher salary; they are employees who have permanent contracts (or even not concerned with what the company may do with compared with the communities who receive the regard to the rest of society (as per case B), or what benefits of the CSR programs). As a result, these the company may do to maintain an appropriate workers feel totally demotivated, which may result working climate among their workers who hold in several reactions such as not making much effort, indefinite contracts (as per case A). The emotions, or being less careful, and so a lower-quality product cognitions, and conducts (and consequent attitudes) is obtained. that the application of CSR programs generates in With respect to the typology established, Hem- these groups may even prove to be counterpro- ingway (2005) analyzes in a recent study the possible ductive for the company. In the cases studied, there types of ‘‘corporate social entrepreneurs.’’ In this is an awareness of this situation at management level, study, she develops a theory of four types of workers: where efforts have been made to take action to the active corporate social entrepreneur, who due to his or improve the position regarding this group of her personal values and the organizational culture workers (for example, through the logical step of develops or stimulates CSR initiatives; the frustrated offering them indefinite contacts). But management corporate social entrepreneur, who in spite of having a also knows that it is difficult to go against the concern for social issues does not manage to develop structure of the sector without incurring higher them due to an organizational culture that is not operational costs, which in the highly competitive conducive to this type of activity; the apathetic cor- context of the Chilean economy could result in a porate social entrepreneur, who does not actually make company losing its position in the market. any effort to implement CSR programs and may These results coincide with several motivation even try to boycott them; and finally, the conformist theories, from the most basic to the most complex. corporate social entrepreneur, who in spite of working in From the perspective of Maslow’s classic (and con- a firm with a culture that is conducive to the troversial)10 hierarchy of needs (1943), temporary (or development of CSR, allows others or the firm to without permanent contracts) workers do not have act on his or her behalf. It should be pointed out that the capacity to fully satisfy their basic physiological although there is some similarity between our results and safety needs, and so it is expected that they are and Hemingway’s proposal, there are fundamental not very interested in CSR programs which operate differences which means that the studies cannot be at the level of satisfying higher order needs (social, strictly compared: esteem, self-actualization). Likewise, according to the motivation-hygiene theory of Herzberg (2003 • In our study, research was conducted on the [1968]) and given the characteristics of the sector, for reactions of employees following the success- some workers hygiene factors do not exist (those ful application of CSR programs (in terms of factors that provide a minimum set of working the objectives established by the companies conditions so that the worker reaches a state of ‘‘non- to the different programs),11 without assum- dissatisfaction’’ at work), and so it will be hard for ing a priori models with respect to employ- them to feel satisfied and motivated by these pro- ees’ emotions or reactions toward CSR. grams. On the other hand, in-house workers, who Hemingway’s study precisely builds this type are assured of an appropriate standard of hygiene of model, since it determines beforehand the factors, are indeed motivated (even beyond work- stance employees would take in order to fa- related factors) by the application of CSR programs. vor or obstruct CSR. A more complex theory that also gives an insight • Hemingway’s study principally analyzes two into the problem is Adams’ Theory of Equity (1963). concepts (organizational culture and personal According to this theory, if employees perceive any values), which in our study are included to

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construct one of the categories established toward CSR programs, failing to understand that (identification with the organization). Hem- money is spent on these activities. ingway’s study does not contain direct con- Finally, although the first impression is that Hem- siderations of other variables in our model ingway’s ‘‘conformist’’ employee bears some resem- (acceptance of the new organizational role, blance to our indifferent worker, the truth is that the sense of importance of work and sense of so- variables involved and the reasons why these workers cial justice). are classified as such are fairly different, with no pos- • Our study is an empirical investigation of a sibility of establishing a direct correspondence be- qualitative type which has passed through a tween them. Finally, there is no equivalence in our series of filters: the construction and review results to her ‘‘socially frustrated’’ employee, due to of the cases in the first instance, followed the fact that our work analyzes firms that successfully by the coding of material, and finally the implemented CSR programs and therefore have a theoretical concordance of the model ob- CSR-oriented culture. Thus, all those who really wish tained. Hemingway’s proposal is a theoretical to get involved in these activities can do so without development that has to be tested. any problem, which may not occur in companies that have not established this type of program; or in the event that the programs have been established, they Over and above the differences, Hemingway’s have not been sufficiently successful to reorient the study (2005) puts forward the interesting conclusion entire organizational culture. that ‘‘socially active’’ employees (and up to a point this would be the category equivalent to the one we have defined as ‘‘committed’’) can be found at all Conclusions levels of the hierarchical scale. This is a result borne out by our research, since even employees at a low The results of the research lead to an understanding hierarchical level (except the level of workers hired of three important findings, which start answering on a project basis) felt motivated following the the question set in the title of this article: do application of this type of program. This occurs in employees care about CSR programs? First, the our cases because many committed workers have attitudes formed by employees following the imple- been in the company for a number of years estab- mentation of successful CSR programs are complex, lishing affective ties with it; they support families and composed of many different elements, with different look at the world a little differently compared with levels of acceptance, identification, or development. younger professionals. Second, some of these elements have to do with Furthermore, if other categories are analyzed, attitudes toward society and not just toward the some congruence can be seen between the char- company, which suggests that the employees’ acteristics of the ‘‘apathetic’’ employee and our worldviews and their social conditions play an ‘‘dissident’’ employee, and in this respect we can important role in the emergence of attitudes toward corroborate one of Hemingway’s proposals (2005, CSR. Third, a typology of three different types of p. 239): ‘‘saboteurs of CSR could also emerge in a employees is derived from the combination of atti- supportive culture.’’ According to our results, this tudes: committed employee, indifferent employee, statement is correct, albeit for reasons that are and dissenting employee. different from those put forward in the afore- Due to the methodology applied, this research is mentioned article, in which the emphasis is on limited in its scope; to a greater or lesser extent all personal values. Our dissident worker, by contrast, qualitative methodologies have the problem that it is has a negative attitude toward the CSR programs difficult to generalize results, unless the context of and the firm itself, because to a certain extent he the research is extremely similar to the context in or she blames the entire economic structure and its which one wishes to apply the conclusions, where- organizations for social injustice. It is because of upon the results may be transferred (cf. Lincoln and this larger context that this worker is skeptical Guba, 1985).

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Beyond this limitation, some general propositions Notes may be established so that additional qualitative research may deepen them or subsequent quantitative 1 The original cases can be found in the ‘‘1ª Serie de research may test their scope: Casos Acade´micos de RSE’’ (Rodrigo, 2004). 2 The names of the firms shall remain anonymous Proposition 1: The successful implementation of CSR for the purpose of this paper, although the correspond- programs by a company does not necessarily lead to a po- ing authorization to construct the cases and use the sitive working attitude on the part of all employees. names was granted at the time; their use for this article Proposition 2: A good structure with respect to salary, was not requested. 3 benefits, and working conditions aimed at all the employees Company A’s legal statute characterizes it as a fosters the development of positive attitudes toward the ‘‘closed anonymous society’’ (Sociedad Anońima Cerrada), CSR programs implemented by the company. which means that it does not have the obligation to inform third parties about its financial performance (only Proposition 3: Highly qualified young professionals the Government for tax-related purposes). But other who are exclusively focused on their professional careers are companies in the industry (associated under the ‘‘con- indifferent to CSR programs, supporting them if they are struction chamber’’) and analysts corroborate that Com- asked to, but failing to take any substantial action. pany A is one of the leading companies in that sector. Proposition 4: Highly qualified professionals – any age This legal condition is the reason why we did not have – who are interested in developing or have already devel- full access to financial reports or data. Company B falls oped long-term commitments to the organization establish under the same legal organizational type and for this positive attitudes toward the CSR programs implemented reason we could not reveal financial data in this case ei- by the company. ther. However, since the purpose of the paper was not Proposition 5: The application of CSR programs in- to discuss the CSR business case, this situation does not creases the sense of importance that committed employees have any effect on the research conclusions. 4 attach to the work performed, as well as the degree to which It is important to point out that the company ap- they identify with the organization, and so they make more plied these programs through its Human Resources effort and improve their working performance. department, and so they are often confused with standard policies applied by the company in this area. Another interesting aspect for future research is to However, the fundamental difference is that the CSR add a temporal dimension to the models proposed by activities concerned with the quality of working life go Hemingway (2005) and to the results obtained in beyond the legal minimum; they also involve initiatives that resolve aspects which have an influence on the our study. A qualitative analysis could be made of work, but which are not necessarily generated as a re- the changes in attitudes before and after the suc- sult of the work, and so the company is not directly cessful implementation of CSR programs, or with responsible. the prolongation of CSR programs over time. Does 5 According to both company A and B’s own calcu- this process of attitudinal change exist? Do individ- lations, a high correlation can be observed between the ually formed attitudes have a more determinant ef- Chilean construction sector and the growth of the fect on the worker or can the organization GDP. contribute toward the development of a new set of 6 For both cases A and B, we refer to the number of attitudes in the case of CSR? In this respect, it would interviews, not to the number of people interviewed. It is be interesting to verify whether, for example, an important to emphasize this difference, given that in both indifferent worker can change his or her views over cases a few key employees were interviewed on more time or with age, with the evolution of the CSR than one occasion for different purposes. Therefore, if the number of people interviewed is taken as the criterion for program, or whether an apathetic corporate social establishing the number of interviews, the figure cited entrepreneur or a conformist corporate social entrepreneur earlier would be lower (16 persons in case A; 12 in case (cf. Hemingway, 2005) transforms his or her atti- B). However, we have considered these ‘‘same person’’ tudes in direct accordance with the organization’s interviews as essentially different because they were con- application of CSR programs, and if so, what the ducted at another time and with the aim of seeking (and characteristics of these processes are. comparing) totally different data.

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7 Glaser (1992) understands the ‘‘concept’’ as the meaning or basic pattern that underlies an idea. The Interview Protocol (semi-structured interview) ‘‘property’’ corresponds to a type of conceptual charac- Hello, my name is XXX and as you probably know teristic of the ‘‘concept’’ (or category). The ‘‘categories’’ through the information sent from (the General Manager’s are concepts of a higher order, since they contain great- Office/your Boss/the Environmental Department/the er explanatory power when a series of concepts is syn- HR department) I’m conducting academic research in thesized into a theoretical framework. order to know more about employees. I wanted to let you 8 The concept ‘‘overall degree of job satisfaction’’ know that this research is not supported in any way by the was not measured by us with an indicator. Instead, it is company, so the managers don’t have authorization to see our interpretation based on the opinions expressed by the information that you will give me, which is absolutely the workers regarding the cited concept. confidential. So feel free to say whatever you want. 9 The minimum monthly wage since July 2007 is Issue 1: General knowledge of the employee and his/her 144,000 Chilean Pesos (CLP), equivalent to almost 277 work US$ applying an average exchange rate of 520 CLP/ 1. Could you tell me your name and age? US$ for July 2007 (it is important to say that this mini- 2. What is your current position in the company? mum monthly wage might reach 145.000 CLP since 3. Could you explain to me in detail what you do in your January 2008 if the economy grows at least 5,8% during job? 2007). However, these data are for reference purposes, 4. Do you feel satisfied with your current job? given that in practice firms reward their experience, 5. How many years you have been working here? their specialty within construction, as well as the train- 6. In all of these years you certainly must have an ing that they might have. Therefore, the minimum impression about the company as a working place: do you wage is a reference for an inexperienced worker hired think it is a good or bad place to work? (Here we have to for a specific project. emphasize the confidentiality of the information!!!). 10 For an analysis of the empirical evidence of this Issue 2: General employee’s knowledge about CSR theory, see Wahba and Bridwell (1976). 7. What do you know about CSR? Do you know what it 11 The adjective ‘‘successful’’ was taken in both cases means? (If not, we have to ask what she/he thinks CSR is). from company directors. The criteria in case A were 8. According with your last answer, what do you think precisely the company’s job satisfaction indicator, which CSR involves? showed an increase after the application of QWL pro- 9. Do you think CSR actions are important? Yes? No? grams. Also in case A, the increase in the productivity Why? between months was considered as an indicator of suc- 10. Are you really convinced about these actions? I mean, cess. In case B, ‘‘success’’ in CSR programs is under- do you think that these actions should be carried out by stood differently: the company loses some projects due the Government? Why the companies? to its environmental systems, but from the directors’ Issue 3: CSR and employees’ reactions perspective, this fact reveals that their environmental 11. Do you know of any CSR action implemented by the CSR is a success because the system is working and company in the last two years? Could you describe these avoiding environmental impacts. actions in greater detail? 12. Do you have any idea why the company gets involved in these programs? Appendix 1 13. (Depending on the answer above) Which of these reasons do you think is the most important for the The protocol applied was longer due to the process company? of introductory questions (‘‘warm-up questions’’) 14. (Depending on the answer above) Which would be, and also because of other questions beyond the scope in your opinion, the main reason for a company to start a of this research that we wanted to understand at that CSR program? moment. Sometimes the answers wandered in dif- 15. How do these CSR actions affect you as a worker and ferent directions, but we allowed that as a part of the as a person? methodology in order to view aspects of which we 16. Could you tell me how do you react to these actions? A) What do you think when the company does these were not aware. The important parts in the inter- programs? B) How do feel about it? C) Do you change views were the main topics and not the questions: your behavior because of these programs? they were simply guides during the research.

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Frederick, W. C., K. Davis and J. E. Post: 1988, Business 17. Do you feel like a part of the CSR programs taken by and Society: Corporate Strategy, Public Policy, Ethics the company? Do you receive any kind of benefits from (McGraw Hill, New York). them? In what way? Freeman, R. E.: 1984, Strategic Management: a Stakeholder 18. Do you think the company is wasting time with these Approach (Pittman-Ballinger, Boston). programs? Glaser, B. (with the assistance of Holton, J.): 2004, 19. Is there any gap between the company’s external pro- ‘Remodelling Grounded Theory’, Forum: Qualitative grams and its internal ones? Why do you feel this? Social Research (On-line Journal) 5(2), Art. 4. Glaser, B. and A. Strauss: 1967, The Discovery of Grounded Theory: Strategies Of Qualitative Research (Wiedenfeld and Nicholson, London). Acknowledgements Glaser, B.: 1978, Theoretical Sensitivity (Sociology Press, Mill Valley, CA). We want to thank Fundacio´ Jesu´s Serra in Catalonia for Glaser, B.: 1992, Basics of Grounded Theory Analysis: their financial support of one of the researchers to con- Emergence Versus Forcing (Sociology Press, Mill Valley, tinue his research. A preliminary draft of this article was CA). presented (in Spanish) at the conference ‘‘XIV Congreso Goodpaster, K. E.: 1991, ‘Business Ethics and Stakeholder Nacional de E´ tica, Economia y Direccioń’’ (EBEN – Spain), Theory’, Business Ethics Quarterly 1(1), 53–72. Valencia – Spain, 15 and 16 December 2006. We are Goulding, C.: 2002, Grounded Theory. A Practical Guide for grateful to the audience for the interesting feedback we Management, Business and Market Researchers (Sage received there. Our gratitude goes as well to our anon- Publications Ltd, London). ymous reviewers because they gave us the opportunity Handy, Ch.: 2001, The Elephant and the Flea: Looking to fix some ambiguities, some omissions and in general Backward to the Future (Hutchinson, London). to improve the quality of the paper. Hemingway, C. A.: 2005, ‘Personal Values as a Catalyst for Corporate Social Entrepreneurship’, Journal of Business Ethics 60(3), 233–249. References Herzberg F.: 2003 [original 1968], ‘One more time: how do you motivate your employees’, Harvard Business Adams, J. S.: 1963, ‘Toward an Understanding of Inequity’, Review 81(1), 87–96. Journal of Abnormal and Social Psychology 67, 422–436. Lincoln, Y. S. and E. G. Guba: 1985, Naturalistic Inquiry Branco, M. C. and L. L. Rodrigues: 2006, ‘Corporate (Sage Publications Inc, Beverly Hills, CA). Social Responsibility and Resource-Based Perspec- Maslow, A. H.: 1943, ‘A Theory of Human Motivation’, tives’, Journal of Business Ethics 69(2), 111–132. Psychological Review 50, 370–396. Breckler, S. J.: 1984, ‘Empirical Validation of Affect, Miles, M. B. and M. Huberman: 1994, Qualitative Data Behavior, and Cognition as Distinct Components of Analysis: An Expanded Sourcebook, 2nd Edition (Sage Attitude’, Journal of Personality and Social Psychology 47, Publications Inc, Thousand Oaks, CA). 1191–1205. Mitchell, R. K., B. R. Agle and D. J. Wood: 1997, ‘Toward Cavanagh, G. F. and A. F. McGovern: 1988, Ethical a Theory of Stakeholder Identification and Salience: Dilemmas in the Modern Corporation (Prentice Halls, Defining the Principle of who and what Really Counts’, Englewoof Cliffs). Academy of Management Review 22(4), 853–886. Clarkson, M.: 1995, ‘A Stakeholder Framework for Mitroff, I. I.: 1983, Stakeholders of the Organizational Mind Analyzing and Evaluating Corporate Social Perfor- (Jossey-Bass, San Francisco). mance’, Academy of Management Review 20(1), 92–117. Orlikowski, W.: 1993, ‘CASE Tools as Organizational Crites, S. L., Jr., L. R. Fabrigar and R. E. Petty: 1994, Change: Investigating Incremental and Radical ‘Measuring the Affective and Cognitive Properties of Changes in Systems Development’, Management Infor- Attitudes: Conceptual and Methodological Issues’, mation System Quarterly 17(3), 309–340. Personality and Social Psychology Bulletin 20(6), 619–634. Patton, M. Q.: 2002, Qualitative Research & Evaluation Drucker, P.: 2001: ‘The Next Society’, The Economist, Methods, 3rd Edition (Sage Publications Inc, Thousand Nov. 1st, p. 16. Oaks, CA). Eisenhardt, K. M.: 1989, ‘Building Theories from Case Pettigrew, A. M.: 1990, ‘Longitudinal Field Research on Study Research’, Academy of Management Review 14(4), Change: Theory and Practice’, Organization & Science 532–550. 1(3), 267–292.

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Rodrigo, P.: 2004, 1ª Serie de Casos Acade´micos de RSE Wahba, M. A. and L. G. Bridwell: 1976, ‘Maslow (Adolfo Iba´n˜ez University – Accio´n RSE, Santiago de Reconsidered: A Review of Research on the Need Chile). Hierarchy Theory’, Organizational Behavior and Human Strauss, A. and J. Corbin: 1990, Basics of Qualitative Performance 15, 212–240. Research: Techniques and Procedures for Developing Yin, R.: 2003, Case Study Research, Design and Methods, 3rd Grounded Theory (Sage Publications Ltd, London). Edition (Sage Publications Inc, Thousands Oaks, CA). Strauss, A.: 1987, Qualitative Analysis for Social Scientists (Cambridge University Press, Cambridge). Institute for Social Innovation, Suddaby, R.: 2006, ‘From the Editors: What Grounded ESADE, Av Pedralbes 60-62, Theory is Not’, Academy of Management Journal 49(4), Barcelona, Catalunya 08034, Spain 633–642. E-mail: [email protected]

SELECCIÓN DE ARTÍCULOS IIS 2007 71 Artículos 72 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos BALAGUER, M.R.; ALBAREDA, L.

ARTÍCULOS “ANALISIS COMPARATIVO DE LA RENTABILIDAD FINANCIERA DE LOS FONDOS DE INVERSION SOCIALMENTE RESPONSABLES EN ESPAÑA”

Análisis Financiero (2007), núm. 105.

SELECCIÓN DE ARTÍCULOS IIS 2007 73 Artículos 74 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos María Rosario Balaguer Franch*y Laura Albareda Vivó** Análisis comparativo de la rentabilidad financiera de los fondos de inversión socialmente responsables en España

1. INTRODUCCIÓN o con responsabilidad social (ideario ético), que recoge los criterios éticos, sociales y medioambientales que definen el fondo ISR. Tras esta política se elabora el catálogo o uni- Aunque la Inversión Socialmente Responsable (ISR) tiene verso de valores invertibles1 que incluye el universo de una larga historia, sólo recientemente se ha empezado a empresas que pueden formar parte del fondo. El análisis apreciar su potencialidad como motor de cambio y transfor- financiero y de sostenibilidad es realizado por un equipo de mación en la gestión de las empresas. Éstas, empiezan a ser investigación ética, y además existe una comisión de control, conscientes de que su responsabilidad no sólo es económica, que supervisa todo el proceso. sino también social y medioambiental. Bajo este contexto, la ISR apunta progresivamente a potenciar una visión de la Si en las primeras etapas de desarrollo de la ISR estos fon- actividad económica que incorpore unos valores de respon- dos se estructuraban a partir de criterios de preselección sabilidad social, medioambiental y ética en los procesos de negativos basados muchas veces en valores morales o reli- inversión. giosos, de hecho, así surgieron la mayoría de los primeros fondos ISR como el Stewardship Fund en el Reino Unido o Tanto en España como a nivel internacional, la ISR se está el Pax World Fund en Estados Unidos, en la actualidad la articulando fundamentalmente, a través de instrumentos de ISR ha adquirido una dimensión global más allá de los valo- inversión colectiva, fondos de inversión y de pensiones. Un res morales, que recoge la sostenibilidad, la gestión del ries- fondo de inversión socialmente responsable (fondo ISR) es go y la responsabilidad social empresarial (RSE) como prin- un fondo que introduce, explícitamente, criterios de prese- cipales elementos. Para los inversores socialmente responsa- lección en las actuaciones empresariales, que no se limitan a bles, no se trata sólo de invertir en los mercados financieros criterios financieros, sino que incluyen valores éticos y de a través de fondos de inversión o fondos de pensiones, sino responsabilidad social y medioambiental. En este sentido, la que se trata de invertir teniendo en cuenta la dimensión base de cualquier fondo ISR es su política de inversión ética social, ética y medioambiental de los valores en los cuales

* Profesora Colaboradora. Departamento de Finanzas y Contabilidad- Universitat Jaume I ** Investigadora Instituto Persona, Empresa y Sociedad. Profesora colaboradora del Departamento de Ciencias Sociales ESADE - Universidad Ramón Llull

SELECCIÓN DE ARTÍCULOS IIS 2007 75 Artículos invierten. Ello quiere decir que para elaborar el catálogo o cieramente menos rentables, que los demás, y en este contexto universo de valores invertibles se tiene en cuenta el compor- es donde se enmarca esta investigación. El objetivo de este artí- tamiento de las empresas en el ámbito extrafinanciero: su culo es determinar si las “restricciones” autoimpuestas por los política de RSE. fondos ISR implican diferencias de rentabilidad en la gestión financiera respecto a los fondos convencionales. Actualmente, la ISR se considera uno de los tipos de inver- sión más dinámicos e innovadores de la industria de los fon- El artículo se estructura como sigue. En el epígrafe siguien- dos de inversión. Por ejemplo, en EEUU, según datos del te se analiza la integración de la ISR en los mercados finan- Social Investment Forum (2006), durante el período 1995- cieros, no sólo como una nueva filosofía de inversión, sino 2005 este producto ha sido el que ha experimentado un como un instrumento impulsor de la RSE; en este mismo mayor incremento en cuanto al volumen de capital invertido: apartado, se profundiza en la rentabilidad de los fondos ISR de 12.000 millones de dólares en 1995 a 179.000 millones de y los índices socialmente responsables, para seguidamente, dólares en 2005. Por su parte, Europa, pese a que sigue en la presentar la metodología y los resultados del análisis com- distancia a EEUU en cuanto a la cifra de activos, cuenta con parativo de la rentabilidad de los fondos ISR en nuestro país. un mercado de ISR cada vez más maduro. Respecto al capi- Finalmente, se exponen las conclusiones del estudio. tal gestionado entre junio de 2004 y junio de 2005 se observa un incremento del 27%. El Reino Unido mantiene el lide- 2. LA INTEGRACIÓN DE LA INVERSIÓN SOCIALMENTE razgo de la ISR en Europa, con un 19% de los fondos ISR y RESPONSABLE EN LOS MERCADOS FINANCIEROS un 33,15% de los activos invertidos, que corresponde a 7.999 millones de euros (Avanzi SRI Research, 2005). La ISR se ha erigido en los últimos tiempos como uno de los pilares que goza de mayor vitalidad dentro del amplio uni- Este aumento del volumen de las ISR en las últimas décadas verso de la RSE. Desde bancos éticos, pasando por micro- está estrechamente vinculado a las importantes transforma- créditos hasta fondos de pensiones, el valor social de los ins- ciones que se han ido consolidando en los últimos treinta trumentos e instituciones financieras, especialmente en lo años respecto los valores de la sociedad en el marco de la que respecta a fondos de inversión, ha experimentado una globalización económica, que han puesto en la agenda finan- evolución que ha puesto en primera línea de actualidad la ciera internacional, la necesidad de tener en cuenta las con- sostenibilidad en los modelos financieros. secuencias sociales y medioambientales de los modelos de crecimiento económico de las empresas. Además, este interés hacia la ISR se ha visto favorecido por la mayor presión social hacia un comportamiento más res- Sin embargo, en España, la ISR muestra un considerable ponsable de las empresas, motivado en buena parte por los retraso respecto a la mayoría de los países europeos, que escándalos protagonizados por grandes corporaciones vincu- afecta tanto a la oferta como a la demanda. En España, la lados a falta de transparencia y ética. La ISR pretende pues, ISR tuvo su punto de inflexión en 1999, coincidiendo con la participar en la restauración de la confianza del sistema y de aparición de la mayoría de los fondos ISR. En la actualidad, la transparencia de los mercados y proporcionar al gestor una la ISR es un sector marginal en el mercado financiero espa- herramienta de control de riesgos que le permita seleccionar ñol, en cuanto al volumen porcentual de capital en fondos mejor sus inversiones. gestionados con estos criterios, pues, a finales del año 2005, alcanzaba tan solo el 0,49% del patrimonio total invertido en En este sentido, se han ido definiendo en el sector financie- los fondos de inversión mobiliarios en España.2 Son varios ro diferentes tendencias que inciden en la consolidación de los factores que pueden explicar esta situación, desde la los mecanismos de ISR en los mercados financieros conven- menor tradición de invertir en acciones hasta la falta de cionales. Así podemos afirmar que, actualmente, la ISR ha demanda por parte de los inversores institucionales (que ha dejado de ser una herramienta propia de un mercado minori- sido crucial en otros países), pasando por la falta de impul- tario vinculado a sectores de inversores más convencidos so, apoyo y promoción por parte de la Administración (tendencia nicho), para convertirse en una herramienta de Pública, y el débil impulso institucional que le han dado las uso cada vez más habitual en los mercados financieros inter- instituciones de gestión de fondos y los grupos financieros nacionales más avanzados (tendencia mainstreaming). La que comercializan estos fondos en España. tendencia mainstreaming pretende impulsar la paulatina incorporación de criterios sociales, éticos y medioambienta- No obstante, probablemente, el principal reto que tiene que les en los fondos convencionales, aunque éstos no lleguen a afrontar el mercado de la ISR en nuestro país es acabar con el tener la denominación de ISR. Tras este impulso subyace el mito de que los fondos que incluyen criterios de ISR son finan-

76 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos deseo de influir directamente en el comportamiento de las Líneas de investigación de la performance financiera de la empresas. En efecto, las líneas más innovadoras coinciden en señalar que la ISR es uno de los elementos que impulsan la ISR RSE desde los mercados financieros, sobre todo por el poder que tienen los inversores institucionales, a través de los fon- Líneas de investigación Autores Conclusiones dos de pensiones. Investigaciones que comparan la Mallin et al. (1995) No hay diferencias performance de los fondos ISR con Gregory, Matatko y Luther (1997) significativas Así pues, la ISR apunta progresivamente a potenciar una la performance de los fondos de Hamilton et al. (1993) entre los fondos inversión convencionales Reyes y Grieb (1998) ISR y los fondos visión de la actividad económica que incorpore unos valores (matched pair analysis) M’Zali y Turcotte (1997) de inversión sociales, medioambientales y éticos en los procesos de inver- Statman (2000) convencionales. sión. De hecho, la ISR se puede definir como la expresión Bauer et al. (2005) más extendida del apoyo de los mercados financieros a las Investigaciones que comparan la Gregory, Matatko y Luther (1994) No hay diferencias buenas prácticas en materia de RSE (AECA, 2004). performance de los fondos ISR Diltz (1995) significativas con la performance de los índices Arms (1999) entre los fondos 2.1. LA RENTABILIDAD DE LOS FONDOS DE de mercado Cummings (2000) ISR y los índices Vermeir y Corten (2001) de mercado. INVERSIÓN SOCIALMENTE RESPONSABLES Balaguer y Muñoz (2003) Kreander et al. (2005) En el desarrollo y consolidación de la ISR en los mercados Investigaciones que comparan la Moskowitz (1972, 1975) La mayoría de las financieros, el rendimiento de los fondos ISR tiene un papel de performance social y la Cowen et al. (1987) investigaciones innegable importancia. Se podría pensar que, por el hecho de performance financiera de la Wokutch y Spencer (1987) concluyen restringir el universo de inversión, las carteras seleccionadas empresa McGuire et al. (1988) investigaciones con criterios ISR presentan una menor rentabilidad financiera. Morris et al. (1990) concluyen que, Hart y Ahuja (1994) por lo menos, Numerosos estudios (Hamilton et al., 1993; Brooks, 1997; Johnson y Greening (1994) una buena Gregory et al., 1997; Reyes y Grieb, 1998; Goldreyer et al., Waddock y Graves (1997) performance 1999; Statman, 2000; Bauer et al.; 2005, Balaguer, 2006) han Roman, Hayibor y Agle (1999) social no conduce abordado esta cuestión y si bien es difícil concluir de ellos que, Orlitzky et al. (2004) a una baja siempre existe una correlación positiva entre RSE y rendi- performance miento financiero, sin embargo sí se confirma que las carteras financiera. que asumen en su selección criterios sociales, medioambienta- Nota: Conviene aclarar que, cuando hablamos de “fondos convencionales”, nos referimos a aquellos les y éticos son al menos tan rentables como sus homólogas fondos que no realizan preselección de la cartera a partir de criterios ISR, es decir, a los fondos tra- que no adoptan este tipo de selección. dicionales. Las líneas de investigación de la performance financiera de Tabla 1 la ISR se pueden agrupar, básicamente, en tres categorías, que se detallan en la tabla 1, junto con sus principales auto- Fuente: Balaguer, M.R. (2006) res y conclusiones. - El hecho de que sus carteras estén formadas, principalmen- Dentro de la línea de investigación que compara la perfor- te, por inversiones en compañías de pequeño tamaño. mance de fondos ISR con la performance de fondos convencionales, destaca la metodología del matched pair analysis. Partiendo de esta metodología, Mallin et al. (1995) comparan Esta metodología fue aplicada inicialmente por Mallin et al. la performance de un grupo de fondos ISR con una muestra (1995) con la finalidad de analizar y comparar la performan- de fondos convencionales, ambos grupos son homogéneos en ce de los fondos ISR y los fondos convencionales, y se basa cuanto a fecha de constitución y volumen de patrimonio. Así, en comparar fondos de similares características en cuanto al estudian los rendimientos de 29 fondos ISR en el Reino volumen de activos y la fecha de constitución. De esta mane- Unido y 29 fondos convencionales durante el período 1986- ra se pretende paliar el efecto de las características propias de 1993, mediante el cálculo de los índices de Jensen, Sharpe y los fondos ISR, que podrían distorsionar el análisis de la car- Treynor, y concluyen que, una pequeña parte de fondos de tera. Las características a las que nos referimos son las ambos grupos se sitúa por debajo del índice de mercado siguientes: Financial Times All Share Actuaries (utilizado como benchmark de mercado). Los fondos ISR se comportan tan bien - La relativa “juventud” de los fondos ISR, dado que su exis- como sus equivalentes no socialmente responsables, e inclu- tencia es relativamente reciente. so obtienen mejores resultados que estos últimos cuando se

SELECCIÓN DE ARTÍCULOS IIS 2007 77 Artículos utiliza el alfa de Jensen. Concretamente, cuatro fondos ISR 2.2. ÍNDICES FINANCIEROS SOCIALMENTE RES- y tres fondos convencionales muestran alfas positivos, con PONSABLES un nivel de significatividad del 5%. Basándose en esta inves- tigación, y utilizando también la metodología del matched En el contexto de la ISR, una correcta gestión de las empre- pair analysis, Kreander et al. (2005) analizan la performan- sas, no se mide únicamente por índices de rentabilidad, pues- ce de 80 fondos ISR de siete países europeos; a partir de los to que se exige que la empresa desarrolle prácticas en el resultados obtenidos en el alfa de Jensen, confirman que no ámbito social y medioambiental de manera exitosa. En este existen diferencias significativas entre los fondos ISR y los sentido, los índices de ISR representan un instrumento bási- fondos convencionales. co para comprobar la eficiencia de la gestión en materia de RSE, puesto que recogen a las empresas con mejor compor- Estrechamente relacionados con las investigaciones de tamiento social y medioambiental. Mallin et al. (1995) están los trabajos de Gregory, Matatko y Luther (1997), quienes comparan la perfor- La creación de los índices socialmente responsables es por mance de una muestra de 18 fondos ISR con un grupo de tanto, una respuesta a la demanda creciente de productos de 18 fondos convencionales en el Reino Unido. Ambos gru- ISR, y como cualquier otro índice, sirven de referencia a los pos son homogéneos en cuanto al volumen de activos; gestores e inversores, permitiéndoles una fácil comparación además, se distingue entre fondos formados por activos de con el rendimiento de los fondos ISR y con otros índices tra- empresas grandes y pequeñas. Como medida de la perfor- dicionales, constituyendo un indicador del grado de madurez mance financiera utilizan el índice de Jensen y el período de los mercados financieros. de análisis incluye desde 1986 hasta 1994. Para comparar la performance de los fondos integrados por activos de En los últimos años, los índices socialmente responsables se empresas grandes y los de las pequeñas emplean un com- han consolidado y han captado la atención de las grandes ponente de ajuste por tamaño en los fondos con activos de empresas europeas. El primer índice bursátil de estas carac- empresas pequeñas. El análisis de sus resultados confirma terísticas fue el Domini Social Index 400 creado en 1990, sin que no existen diferencias significativas entre los rendi- embargo en la actualidad existen más de una docena de índi- mientos de los fondos ISR y los fondos convencionales. ces socialmente responsables, destacando el Dow Jones Además, observan que las carteras de fondos —tanto ISR Sustainability Index, FTSE Good, Calvert Social Index o como convencionales— de empresas grandes tienden a Ethibel Sustainability Index Europe, entre otros. Todos ellos tener menor performance que las carteras de fondos ISR se basan en una análisis de múltiples factores, tanto sociales y fondos convencionales formados por empresas peque- y medioambientales como económicos, para decidir la selec- ñas. ción de empresas que entran a formar parte de los mismos. Los criterios de valoración son tanto generales para el con- Un estudio similar es el llevado a cabo por Statman (2000), junto de empresas como específicos de cada industria. Tras quien realiza un análisis comparativo de fondos ISR y fon- la aplicación de estos criterios, se le otorga una puntuación a dos convencionales, considerando fondos de igual tamaño. cada una de las empresas, elaborándose el ranking de soste- Como medida de la performance utiliza el alfa de Jensen y, nibilidad por industrias. como benchmark, el Domini Social Index 400 y el S&P500. Los resultados obtenidos muestran que la performance de En definitiva, todos estos índices son la consolidación de que los fondos ISR es mejor que la de los fondos convenciona- los mercados financieros están incorporando herramientas e les, aunque la diferencia no es estadísticamente significativa. instrumentos que permiten un seguimiento y evaluación cada vez más precisos de la RSE de las empresas, y por tanto Podríamos seguir enumerando una larga lista de estudios e de su valor y proyección bursátil. investigaciones que avalan la hipótesis de que, a medio plazo, los fondos ISR no tienen por qué tener una baja ren- 3. BASE DE DATOS tabilidad financiera. Es más, como ya se ha visto, en muchas ocasiones los fondos ISR ofrecen una rentabilidad La base de datos de nuestra investigación está formada por la superior a la obtenida por los fondos convencionales. En totalidad de fondos ISR que existen en el mercado financiero última instancia, las investigaciones realizadas confirman español a fecha 31/12/2005. En esa fecha encontramos en el que la selección basada en criterios sociales no va en detri- mercado español 31 fondos ISR. Cabe destacar que de los 31 mento de la rentabilidad. fondos ISR que existen en España, 14 están gestionados por instituciones gestoras en España y 17 gestionados por instituciones gestoras extranjeras. Además, encontramos 4 fondos

78 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos solidarios. Los fondos solidarios se caracterizan porque ceden Además de los fondos ISR, para realizar el análisis compa- una parte de la rentabilidad o la comisión de gestión a entida- rativo, hemos seleccionado una muestra de fondos “no des benéficas, pero no realizan preselección de la cartera fon- socialmente responsables” (fondos convencionales )4, con el dos, sino que, simplemente, destinan un porcentaje de su comi- fin de evaluar y comparar las rentabilidades entre ambos sión de gestión a organizaciones sociales, así pues, no incorpo- grupos de fondos. Así, para seleccionar los fondos conven- ran restricciones a la inversión. Son una peculiaridad del mer- cionales que han formado parte de nuestro análisis compara- cado español, y constituyen una simple vía de financiación para tivo hemos utilizado la base de datos de Morningstar. En este proyectos sociales o de desarrollo. En ningún otro lugar de sentido, hemos seleccionado fondos que presentan similar Europa se considera que estos fondos sean fondos ISR3. volumen de activos y similar fecha de constitución a los fon-

Fondos ISR y fondos convencionales a 31/12/2005

Fondos ISR registrados en la CNMV, domiciliados, gestionados y comercializados en España Fondos convencionales registrados en la CNMV

Denominación de la IIC Fecha de Patrimonio Denominación de la IIC Fecha de Patrimonio constitución (miles de euros) constitución (miles de euros) BBK Solidaria, FI 03-06-2005 3.408 Plusmadrid Fondandalucía, FI 26-05-2003 3.077 BBVA Desarrollo Sostenible, FI 02-09-1997 69.399 Morgan S. Multigest. Activo Variable, FI 23-12-1997 47.994 BBVA Extra 5 II Garantizado, FI 02-10-2003 813.959 Fondo Super 100 2, FIM 07-07-2003 658.042 BNP Paribas Fondo de Solidaridad, FI 01-12-1999 5.581 Ahorro Corporac. Eurocanarias Mixto, FI 31-01-2000 7.725 Caixa Catalunya Europa Valor, FI 15-11-1999 10.602 Cahispa Eurovariable, FI 14-01-2000 12.532 CAM Fondo Solidaridad, FI 20-06-2005 600 Foncaixa Gestión Estrella E1, FI 09-12-2005 299 Foncaixa Cooperación, FI 19-03-1999 8.161 Safei Global Patrimonio, FI 17-11-1998 6.224 Foncaixa 133 Socialm. Responsable, FI 06-09-2005 2.963 Crédit Agric. Mercaeuropa Small Cap, FI 30-06-2005 3.197 Fondo Solidario Pro Unicef, FI 07-05-1999 4.098 Fonbilbao Renta Fija, FI 22-07-1999 3.864 Morgan Stanley Fondo Activo Ético, FI 25-03-1999 14.978 BG Mixto 50, FI 14-09-1999 12.892 Santander Dividendo Solidario, FI 01-02-1999 21.555 BK Sector Telecomunicaciones, FI 26-05-1999 35.791 Santander Responsabilidad, FI 03-06-2003 42.708 Fidenzis Fondo de Fondos C30, FI 27-05-2003 46.502 Urquijo Cooperación, SICAV 26-02-2002 18.347 Santander Fondandalucía Mixto, FI 02-12-2002 16.311 Urquijo Inversión Solidaria, FI 09-12-2003 15.235 Ahorro Corpor. Fondandalucía Mixto, FI 14-05-2003 13.118 Fondos ISR registrados en la CNMV no domiciliados ni gestionados en España Fondos convencionales registrados en la CNMV ABN AMRO F. - Socially Responsible Equity Fund 05-12-2001 46.500 Ahorro Corporación Multiestrellas Selección 90, FI 19-09-2001 42.909 Aviva F. - European Socially Responsible Equity Fund 14-03-2001 37.400 Eurovalor Europa, FIMF 07-06-2001 28.449 Axa World Fund Development Debt 02-01-2002 16.850 Ahorro Corporac. Bonos Corporativos, FI 03-09-2003 10.710 Crédit Suisse Equity Fund (Lux) Global Sustainability 08-10-1990 45.340 Banesto Bolsa Internacional, FI 21-09-1990 34.680 Dexia Equities L World Welfare 01-08-2000 71.700 Bomerbe, FI 15-04-2002 83.230 DWS Invest Sustainability Leaders LD 03-06-2002 21.200 BBVA Índice Internacional Plus, FI 05-12-2001 24.524 European Responsible Consumer Fund 27-06-2003 56.000 Cartesio Y - Acciones, FI 23-02-2004 37.327 Fortis Equity Socially Responsible Europe 15-03-2002 15.670 Segurfondo Dinámico Europa, FI 12-12-2000 12.356 Fortis Strategy Balanced SRI Europe 01-06-1998 172.490 Eurovalor Mixto-50, FI 15-12-1998 120.205 Fortis Strategy Growth SRI Europe 01-06-1998 46.940 Rural Mixto 50, FI 15-01-1997 48.553 Fortis Strategy Stability SRI Europe 01-06-1998 109.010 Plusmadrid 25, FIM 05-01-1999 106.074 ING (L) Invest Sustainable Growth Fund 10-07-2000 32.670 ING Direct F0 Naranja S & P 500, FI 04-08-2000 31.183 JP Morgan Funds - Global Socially Responsible Fund 01-09-2002 38.000 miles de $ Ahorro Corporación Multiestrellas Selección 90, FI 19-09-2001 42.909 Mellon European Ethical Index Tracker 11-01-2002 21.200 Eurovalor Europa, FIMF 07-06-2001 28.449 Pictet F.- European Sustainable Equities 01-10-2002 61.400 Santander Cuantitativo Europa, FI 21-11-2001 57.175 Pioneer Funds - Global Ethical Equity 04-07-2000 283.900 Eurovalor Bolsa Española, FI 14-03-2001 282.080 UBS (Lux) Equity Fund-Eco Performance 13-06-1997 255.250 miles de CHF BBK Fondo Internacional, FIMF 24-07-1998 168.229 Fondos solidarios registrados en la CNMV domiciliados y gestionados en España Fondos convencionales registrados en la CNMV Bankinter Solidaridad, FI 06-11-2003 7.508 Santander Global FX, FI 30-01-2004 8.309 BBVA Solidaridad, FI 21-07-1999 17.872 Bankpyme Fonstresor Catalunya Mixto 24-03-1999 11.037 Euro 15 RV, FI El Monte Fondo Solidario, FI 04-04-2000 4.120 Fonbilbao Renta Fija, FI 22-07-1999 3.864 Fondespaña Catedrales, FI 02-03-2000 3.153 Fonbilbao Renta Fija, FI 22-07-1999 3.864

Tabla 2

Fuente: Elaboración propia e informes trimestrales de la CNMV

SELECCIÓN DE ARTÍCULOS IIS 2007 79 Artículos dos ISR que queríamos analizar (en línea con la metodolo- presenta la rentabilidad de un fondo, más arriesgado es el gía del matched pair analysis). Además, dado que, nuestro fondo en cuestión; además, permite comparar todos los fon- análisis financiero se limita al caso español, para la selección dos entre ellos, desde los fondos monetarios hasta los fondos de fondos convencionales del análisis comparativo hemos de acciones emergentes. En segundo lugar, porque los fon- considerado únicamente los fondos de inversión domiciliados que han sido más volátiles en el pasado también tienen dos, gestionados y comercializados en España. tendencia a ser los más volátiles en el futuro. En este sentido, la desviación típica es una señal de alarma muy útil. La La tabla 2 recoge los fondos ISR, así como sus equivalentes desviación típica se expresa, como la rentabilidad, en por- “no socialmente responsables” o convencionales, que cons- centajes, y en nuestro análisis, nos hemos basado en las ren- tituyen la base de datos para el análisis comparativo. La tabilidades de los últimos 36 meses (o 3 años). Atendiendo a información se presenta en tres apartados diferentes, aten- nuestros datos, se observa que, en general, la volatilidad de diendo a los tres tipos de fondos ISR existentes en España: los fondos ISR domiciliados y gestionados en España y de fondos ISR registrados en la CNMV, domiciliados, gestiona- los fondos solidarios es relativamente baja, mientras que la dos y comercializados en España; fondos ISR registrados en de los fondos ISR extranjeros es más alta y pareja. Para el la CNMV no domiciliados ni gestionados en España y fon- caso de los fondos convencionales, la volatilidad es en gene- dos solidarios registrados en la CNMV. ral más baja que sus equivalentes socialmente responsables.

4. METODOLOGÍA DEL ANÁLISIS COMPARATIVO Indicadores Financieros

El objetivo de nuestra investigación es evaluar la gestión de Indicadores Expresión Matemática Interpretación Variables los fondos ISR a partir de un análisis comparativo, tomando S h a r p e : es una Rp = rentabilidad de la como referencia la metodología de matched pair analysis m e d i d a d e cartera p.

(análisis de pares), con el fin de evaluar si las “restricciones rentabilidad-riesgo. RP < R f R =rentabilidad del S f El ratio de SharpeP = activo libre de riesgo. autoimpuestas por los fondos ISR implican diferencias de m P rentabilidad en la gestión financiera”. mide el exceso de mp = desviación típica rentabilidad por de la rentabilidad de la 4.1. ANÁLISIS FINANCIERO unidad de riesgo. cartera p. Desviación típica m = desviación típica. anualizada: es una Elevada al cuadrado es Como paso previo al análisis comparativo hemos realizado medida del riesgo del la varianza

un análisis financiero de los fondos ISR y sus equivalentes fondo. Indica cómo, RMi= Rentabilidad convencionales, a partir de diferentes indicadores financie- en términos medios, mensual en el ros. La tabla 3 recoge de manera resumida las expresiones la rentabilidad del momento i i matemáticas de los indicadores utilizados: volatilidad, ratio fondo se ha desviado TR =Rentabilidad de Sharpe, beta y alfa. de su media. media mensual en n períodos. n = Número de Los resultados de dichos indicadores financieros para los períodos (hemos fondos ISR y los fondos convencionales se recogen en la utilizado 36 meses)

tabla 4. En dicha tabla, la información financiera se presen- B e t a : mide la `i = Beta del fondo i ta en tres apartados diferentes, atendiendo a los tres grupos volatilidad relativa Coiij Coiij = covarianza del fondo, siendo =entre (fondo) y de fondos ISR existentes en España: los fondos ISR domici- `i i j 1,00 la volatilidad del 2 (índice) liados y gestionados en España, los fondos ISR extranjeros mj índice de referencia. m 2= varianza del índice comercializados en España y los fondos solidarios. j Alfa: representa la F = Media aritmética En lo que respecta a la desviación típica o volatilidad cabe medida en que el de los excesos de destacar que es una medida del riesgo del fondo. Indica, en fondo se ha rentabilidad del fondo. términos medios, cuánto se ha desviado la rentabilidad del comportado mejor o _ = F - ` PP m= Media aritmética fondo de su media. Una desviación típica alta significa que peor (respecto a su de los excesos de la rentabilidad del fondo ha experimentado fuertes variacio- índice de referencia) rentabilidad del mercado. de lo que era de nes, mientras que una desviación típica baja indica que la esperar, ateniendo a rentabilidad del fondo ha sido mucho más estable. La des- su riesgo. viación típica de un fondo es un dato interesante en dos sen- tidos. En primer lugar, porque, cuanto mayores fluctuaciones Tabla 3

80 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Datos financieros de los fondos ISR y los fondos convencionales a 31/12/2005

Fondos ISR registrados en la CNMV, domiciliados, gestionados y comercializados en España Fondos convencionales registrados en la CNMV

Denominación de la IIC Volatilidad Sharpe Beta Alfa Denominación de la IIC Volatilidad Sharpe Beta Alfa Desviación (%) Desviación (%) típica (%) típica (%) BBK Solidaria, FI 2,79 0,36 1,23 0 Plusmadrid Fondandalucía, FI - - - - BBVA Desarrollo Sostenible, FI 8,13 2,27 1,00 0 Morgan S. Multigestión Activo Variable, FI 11,06 0,90 0,72 7,45 BBVA Extra 5 II Garantizado, FI 1,77 0,30 - - Fondo Super 100 2, FIM - - - - BNP Paribas Fondo Solidaridad, FI 3,18 0,70 - - Ahorro Corporac. Eurocanarias Mixto, FI 2,64 1,12 0,19 2,23 Caixa Catalunya Europa Valor, FI 13,30 0,47 1,10 -6,33 Cahispa Eurovariable, FI 17,19 0,86 1,32 10,12 CAM Fondo Solidaridad, FI 5,40 2,32 - 2,30 Foncaixa Gestión Estrella E1, FI - - - - Foncaixa Cooperación, FI 6,20 2,10 0,95 - Safei Global Patrimonio, FI 5,57 0,68 0,34 2,52 Foncaixa 133 Socialm. Responsable, FI 5,07 -0,72 1,02 - Crédit Agric. Mercaeuropa Small Cap, FI - - - - Fondo Solidario Pro Unicef, FI - - - - Fonbilbao Renta Fija, FI 1,67 0,43 0,07 0,45 Morgan Stanley Fondo Activo Ético, FI 1,65 1,43 1,12 BG Mixto 50, FI 6,76 0,91 0,53 4,23 Santander Dividendo Solidario, FI 5,95 2,43 1,08 7,62 BK Sector Telecomunicaciones, FI 11,55 0,56 0,89 3,06 Santander Responsabilidad, FI 1,16 2,65 0,93 0,69 Fidenzis Fondo de Fondos C30, FI - - - - Urquijo Cooperación, SICAV - - - - Santander Fondandalucía Mixto, FI - - - - Urquijo Inversión Solidaria, FI - - - - Ahorro Corpor. Fondandalucía Mixto, FI - - - - Fondos ISR registrados en la CNMV no domiciliados ni gestionados en España Fondos convencionales registrados en la CNMV ABN AMRO F.-Socially Responsible Equity Fund 10,45 0,52 1,01 -6,69 Ahorro Corporación Multiestrellas Selección 90, FI 9,21 1 0,60 7,15 Aviva Funds- European Socially Responsible Equity Fund 3,29 1,42 0,82 0,03 Eurovalor Europa, FIMF 11,15 1,02 0,86 8,42 Axa World Fund Development Debt - 1,61 - - Ahorro Corporac. Bonos Corporativos, FI Crédit Suisse Equity Fund (Lux) Global Sustainability 9,93 1,07 0,95 -0,31 Banesto Bolsa Internacional, FI 10,17 0,68 0,70 4,33 Dexia Equities L World Welfare 10,51 1,02 1,03 - Bomerbe, FI 11,34 1,21 0,89 10,79 DWS Invest Sustainability Leaders 8,97 0,63 0,68 - BBVA Índice Internacional Plus, FI - - - - European Responsible Consumer Fund - - - - Cartesio Y - Acciones, FI - - - - Fortis Equity Socially Responsible Europe 12,16 0,96 0,97 -2,65 Segurfondo Dinámico Europa, FI 10,49 0,93 0,82 6,79 Fortis Strategy Balanced SRI Europe 6,53 1,25 1,01 -1,92 Eurovalor Mixto-50, FI 5,83 1,42 0,43 6,83 Fortis Strategy Growth SRI Europe 9,93 1,12 1,01 -2,26 Rural Mixto 50, FI 5,70 1,28 0,43 5,81 Fortis Strategy Stability SRI Europe 3,58 1,44 0,97 -1,38 Plusmadrid 25, FIM 3,36 0,98 0,27 2,29 ING (L) Invest Sustainable Growth Fund 10,38 2,00 0,94 -0,88 ING Direct F. Naranja S & P 500, FI 10,46 0,71 0,70 4,92 JPM Global Socially Responsible (USD) Fund 9,63 1,18 0,90 -0,14 Ahorro Corporación Multiestrellas Selección 90, FI 9,21 1 0,60 7,15 Mellon European Ethical Index Tracker Fund 13,31 0,54 1,00 -3,67 Eurovalor Europa, FIMF 11,15 1,02 0,86 8,42 Pictet Funds - European Sustainable Equities 12,67 0,96 1,07 -3,14 Santander Cuantitativo Europa, FI 11,86 1,76 0,51 20,71 Pioneer Funds - Global Ethical Equity 10,41 0,75 0,97 1,48 Eurovalor Bolsa Española, FI 9,47 2,13 0,53 19,69 UBS (Lux) Equity Fund - Eco Performance - -0,28 0,97 - BBK Fondo Internacional, FIMF 10,92 0,97 0,73 8,06 Fondos solidarios registrados en la CNMV domiciliados y gestionados en España Fondos convencionales registrados en la CNMV Bankinter Solidaridad, FI 0,08 0,01 0,98 0,02 Santander Global FX, FI - - - - BBVA Solidaridad, FI 2,55 2,12 0,95 0 Bankpyme Fonstresor Catalunya Mixto Euro 15 RV, FI El Monte Fondo Solidario, FI 3,04 1,63 0,83 - Fonbilbao Renta Fija, FI 1,67 0,43 0,07 0,45 Fondespaña Catedrales, FI 3,30 -0,19 1,04 -0,14 Fonbilbao Renta Fija, FI 1,67 0,43 0,07 0,45 Tabla 4

Respecto al índice de Sharpe, cabe destacar que es una medi- tar sorprendente, si tenemos en cuenta que nos hallamos en un da de la rentabilidad-riesgo. Se calcula con los datos de los período de tipos de interés bajos. Este es un dato importante, últimos 36 meses dividiendo el exceso de rentabilidad obteni- puesto que, cuanto mayor sea este ratio, mejor comportamien- da por el fondo (respecto al activo sin riesgo5) por la desvia- to habrá demostrado el fondo en el período analizado. ción estándar de esos excesos de rentabilidad. Cuanto más ele- vado sea el ratio de Sharpe, mejor comportamiento habrá Por su parte, la beta de un fondo o de una acción es una medi- demostrado el fondo en el período analizado. El ratio de da de la sensibilidad del fondo o de la acción respecto a los Sharpe mide, por tanto, el exceso de rentabilidad por unidad movimientos del mercado. La beta del mercado es igual a de riesgo. Tal y como se observa en la tabla 4, el índice de 1,00 por definición. Una beta, por ejemplo, de 1,10 significa Sharpe, es positivo para casi la totalidad de los fondos ISR y que el fondo o la acción ha tenido, de media, una rentabilidad también para los fondos convencionales, lo que no debe resul- un 10% superior a la del mercado, cuando este subía, pero un

SELECCIÓN DE ARTÍCULOS IIS 2007 81 Artículos 10% peor que el mercado, cuando este bajaba. De la misma una beta superior a 1, lo que significa que el fondo presenta forma, una beta de 0,85 indica que el mercado ha tenido un una rentabilidad superior a la del mercado cuando este sube, comportamiento un 15% peor que el mercado, cuando este pero una rentabilidad inferior al mercado cuando este baja. se movía al alza, y un 15% mejor que el mercado, cuando Mientras, las betas de los fondos convencionales son más este se movía a la baja. En general, las betas de los fondos bajas, de hecho la mayoría de los fondos convencionales pre- ISR son, en general, muy próximas a 1, es decir, se mueven sentan una beta menor que 1, lo cual significa que el fondo con el mercado. Algunos de los fondos, incluso, presentan ha tenido un comportamiento peor que el mercado.

Análisis comparativo de la rentabilidad de los fondos ISR y los fondos convencionales a 31/12/2005

Fondos ISR registrados en la CNMV, domiciliados, gestionados y comercializados en España Fondos convencionales registrados en la CNMV Rentabilidad Denominación de la IIC Fecha de Patrimonio Rentabilidad Denominación de la IIC Fecha de Patrimonio Rentabilidad media del sector constitución (miles de neta constitución (miles de neta (%) euros) acumulada euros) acumulada anual (%) anual (%) BBK Solidaria, FI 03-06-2005 3.408 1,20 Plusmadrid Fondandalucía, FI 26-05-2003 3.077 4,83 4,70 BBVA Desarrollo Sostenible, FI 02-09-1997 69.399 16,68 Morgan S. Multigest. Activo Variable, FI 23-12-1997 47.994 22,57 19,99 BBVA Extra 5 II Garantizado, FI 02-10-2003 813.959 0,32 Fondo Super 100 2, FIM 07-07-2003 658.042 4,03 3,97 BNP Paribas Fondo de Solidaridad, FI 01-12-1999 5.581 5,13 Ahorro Corporación Eurocanarias Mixto, FI 31-01-2000 7.725 4,50 4,70 Caixa Catalunya Europa Valor, FI 15-11-1999 10.602 17,36 Cahispa Eurovariable, FI 14-01-2000 12.532 19,39 20,63 CAM Fondo Solidaridad, FI 20-06-2005 600 2,17 Foncaixa Gestión Estrella E1, FI 09-12-2005 299 - 6,03 Foncaixa Cooperación, FI 19-03-1999 8.161 13,11 Safei Global Patrimonio, FI 17-11-1998 6.224 13,10 11,90 Foncaixa 133 Socialm. Responsable, FI 06-09-2005 2.963 -2,89 Crédit Agric. Mercaeuropa Small Cap, FI 30-06-2005 3.197 - 20,63 Fondo Solidario Pro Unicef, FI 07-05-1999 4.098 1,90 Fonbilbao Renta Fija, FI 22-07-1999 3.864 1,90 5,30 Morgan Stanley Fondo Activo Ético, FI 25-03-1999 14.978 3,29 BG Mixto 50, FI 14-09-1999 12.892 9,00 5,30 Santander Dividendo Solidario, FI 01-02-1999 21.555 13,17 BK Sector Telecomunicaciones, FI 26-05-1999 35.791 5,52 20,63 Santander Responsabilidad, FI 03-06-2003 42.708 3,06 Fidenzis Fondo de Fondos C30, FI 27-05-2003 46.502 7,20 4,70 Urquijo Cooperación, SICAV 26-02-2002 18.347 4,91 Santander Fondandalucía Mixto, FI 02-12-2002 16.311 3,68 6,03 Urquijo Inversión Solidaria, FI 09-12-2003 15.235 7,19 Ahorro Corpor. Fondandalucía Mixto, FI 14-05-2003 13.118 3,70 6,03 Fondos ISR registrados en la CNMV no domiciliados ni gestionados en España Fondos convencionales registrados en la CNMV ABN AM. F. - Socially Responsible Equity 05-12-2001 46.500 23,00 Ahorro Corp. Multiestrellas Selección 90, FI 19-09-2001 42.909 20,66 19,99 Aviva F. - European Socially Responsible 14-03-2001 37.400 25,79 Eurovalor Europa, FIMF 07-06-2001 28.449 19,53 20,75 Equity Fund Axa World Fund Development Debt 02-01-2002 16.850 2,56 Ahorro Corporación Bonos Corporativos, FI 03-09-2003 10.710 1,82 3,63 Crédit Suisse Equity Global Sustainability 08-10-1990 45.340 20,86 Banesto Bolsa Internacional, FI 21-09-1990 34.680 19,06 19,99 Dexia Equities L World Welfare 01-08-2000 71.700 24,18 Bomerbe, FI 15-04-2002 83.230 21,94 19,99 DWS Invest Sustainability Leaders LD 03-06-2002 21.200 10,50 BBVA Índice Internacional Plus, FI 05-12-2001 24.524 12,29 19,99 European Responsible Consumer Fund 27-06-2003 56.000 13,61 Cartesio Y - Acciones, FI 23-02-2004 37.327 11,90 11,19 Fortis Equity Socially Responsible Europe 15-03-2002 15.670 24,68 Segurfondo Dinámico Europa, FI 12-12-2000 12.356 20,51 20,63 Fortis Strategy Balanced SRI Europe 01-06-1998 172.490 13,91 Eurovalor Mixto-50, FI 15-12-1998 120.205 8,20 11,19 Fortis Strategy Growth SRI Europe 01-06-1998 46.940 19,15 Rural Mixto 50, FI 15-01-1997 48.553 8,17 11,90 Fortis Strategy Stability SRI Europe 01-06-1998 109.010 8,96 Plusmadrid 25, FIM 05-01-1999 106.074 6,33 5,30 ING (L) Invest Sustainable Growth Fund 10-07-2000 32.670 23,26 ING Direct F. Naranja S. & P. 500, FI 04-08-2000 31.183 17,84 19,99 JP Morgan Funds - Global Socially 01-09-2002 38.000 7,90 Ahorro Corp. Multiestrellas Selección 90, FI 19-09-2001 42.909 20,66 19,99 Responsible Fund miles de $ Mellon European Ethical Index Tracker 11-01-2002 21.200 21,80 Eurovalor Europa, FIMF 07-06-2001 28.449 19,53 20,75 Pictet F. - European Sustainable Equities 01-10-2002 61.400 24,70 Santander Cuantitativo Europa, FI 21-11-2001 57.175 20,75 20,63 Pioneer Funds - Global Ethical Equity 04-07-2000 283.900 23,70 Eurovalor Bolsa Española, FI 14-03-2001 282.080 20,15 19,99 UBS (Lux) Equity Fund-Eco Performance 13-06-1997 255.250 21,80 BBK Fondo Internacional, FIMF 24-07-1998 168.229 23,77 19,99 miles de CHF Fondos solidarios registrados en la CNMV domiciliados y gestionados en España Fondos convencionales registrados en la CNMV Bankinter Solidaridad, FI 06-11-2003 7.508 1,25 Santander Global FX, FI 30-01-2004 8.309 1,98 1,62 BBVA Solidaridad, FI 21-07-1999 17.872 5,53 Bankpyme Fonstresor Catalunya Mixto 24-03-1999 11.037 3,75 4,70 Euro 15 RV, FI El Monte Fondo Solidario, FI 04-04-2000 4.120 6,15 Fonbilbao Renta Fija, FI 22-07-1999 3.864 1,90 5,30 Fondespaña Catedrales, FI 02-03-2000 3.153 3,31 Fonbilbao Renta Fija, FI 22-07-1999 3.864 1,90 5,30 Tabla 5

82 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Finalmente, el alfa es el rendimiento adicional obtenido por gestionados y comercializados en España, sólo 3 (de un total un fondo respecto a su índice de referencia o benchmark de 14) muestran mayores rentabilidades que la media del sec- teniendo en cuenta la exposición de este fondo al riesgo de tor. En cuanto a los fondos solidarios, 2 de los 4 existentes en mercado (medido por la beta). El alfa mide la capacidad de nuestro país presentan una rentabilidad superior a la media del gestión respecto al mercado, y puesto que los resultados son sector al que pertenecen (tabla 5). más bien bajos, esto implica que no hay una capacidad de gestión superior al mercado. Destaca, especialmente, el El hecho de que los fondos ISR domiciliados, gestionados y resultado obtenido en el alfa del fondo Santander Dividendo comercializados en España presenten rentabilidades más Solidario, FI, cuyo resultado es estadísticamente significati- bajas que los fondos ISR extranjeros comercializados en vo, pues logra batir al mercado, lo que significa que el gestor España se puede deber al incipiente desarrollo y novedad de está aportando valor añadido al fondo. Los fondos conven- la gestión de dichos fondos en nuestro país, y también, quizá, cionales presentan en su totalidad un alfa positivo, destacan- a que el universo de inversión queda muy restringido en un do por encima de todos, el valor del fondo Santander mercado tan estrecho como es el mercado financiero español. Cuantitativo Europa, FI y el valor del fondo Eurovalor Bolsa Española, FI, cuyos resultados muestran que se están batien- En definitiva, el análisis realizado es consistente con las do al mercado. investigaciones llevadas a cabo en otros países y confirma que los fondos de inversión ISR no sólo no difieren del resto 4.2. ANÁLISIS COMPARATIVO de los fondos a efectos de rentabilidad, sino que, incluso, pueden presentar rentabilidades superiores. Una vez presentada la información financiera de los fondos, pasamos a analizar la gestión de los fondos ISR en relación 5. CONCLUSIONES con los fondos convencionales para el período 2005, a partir de un análisis comparativo, tomando como referencia la En este artículo hemos querido avanzar en el análisis de uno metodología del matched pair analysis. En este sentido, de los aspectos más importantes de la ISR no sólo en España, nuestro análisis se basa en comparar las rentabilidades6 de los sino en todo el mundo: el análisis de la rentabilidad de los fondos ISR con las rentabilidades de fondos convencionales, fondos ISR frente al resto de los fondos del mercado. En este que presentan similar volumen de activos y similar fecha de sentido, nuestro estudio constituye una investigación pione- constitución. ra, que ha incidido en la comparación de la rentabilidad de los fondos ISR respecto a los fondos convencionales en el La tabla 5 muestra los resultados del análisis comparativo. En mercado financiero español. ella se observa que más de la mitad de los fondos ISR y solidarios (21 de un total de 35) presentan rentabilidades supe- En lo que respecta al análisis financiero, la volatilidad de los riores a sus equivalentes convencionales. Los fondos ISR fondos ISR domiciliados y gestionados en España y de los extranjeros comercializados en España son los que muestran fondos solidarios es bastante baja, mientras que la de los fon- mejores resultados desde el punto de vista de la rentabilidad, dos ISR extranjeros es más pareja. En cuanto al índice de puesto que prácticamente todos ellos (14 de un total de 17) Sharpe, éste es positivo para casi la totalidad de los fondos presentan rentabilidades superiores a sus equivalentes con- ISR. Se trata de un dato importante, puesto que, cuanto vencionales. En el caso de los fondos ISR domiciliados y mayor sea este ratio, mejor comportamiento habrá demostra- gestionados en España, sólo 5 (de un total de 14) superan la do el fondo en el período analizado. Por otra parte, los fon- rentabilidad de sus equivalentes convencionales. En cuanto dos ISR presentan betas muy próximas a 1, es decir, se mue- los fondos solidarios, 3 (de un total de 4) obtienen mejores ven con el mercado; algunos de los fondos, incluso, muestran rentabilidades que sus equivalentes convencionales (tabla 5). una beta superior a 1, lo que significa que el fondo presenta una rentabilidad superior a la del mercado cuando este sube, También se ha comparado la rentabilidad de cada fondo con pero una rentabilidad inferior al mercado cuando baja. La la rentabilidad media del sector al que pertenecen. De nuevo, alfa, por último, mide la capacidad de gestión respecto al los resultados muestran que más de la mitad de los fondos ISR mercado: los resultados son más bien bajos, lo que implica (19 de un total de 35) presentan rentabilidades superiores a la que no existe una capacidad de gestión superior al mercado. media del sector. Al igual que en el caso anterior, el análisis En lo que respecta al análisis comparativo, hemos observado detallado por grupos de fondos confirma que la mayoría de los que los fondos ISR comercializados en España presentan ren- fondos ISR extranjeros comercializados en España (14 sobre tabilidades netas anuales positivas. En el caso del grupo de 17) presentan una rentabilidad superior a la media del sector fondos ISR domiciliados y gestionados en España, se consta- al que pertenecen. Respecto a los fon-dos ISR domiciliados, ta una gran disparidad de las rentabilidades, si se compara

SELECCIÓN DE ARTÍCULOS IIS 2007 83 Artículos con sus fondos convencionales pares en el mercado. Los como de su fracaso. Por este motivo, es importante que la resultados desagregados muestran que solo 5 de los 14 fon- rentabilidad sea neutral, pues es una condición necesaria dos obtienen rentabilidades superiores a su par en el merca- para lograr el éxito de la ISR. do; en este mismo grupo, solo 3 de los 14 fondos presentan rentabilidades netas superiores a la rentabilidad media anual En última instancia, este análisis de la rentabilidad de los del sector. Con todo, si consideramos el margen diferencial fondos ISR en España muestra unos resultados consistentes entre los fondos ISR y los fondos convencionales, este no es con las investigaciones realizadas en esta misma línea en significativo a efectos de rentabilidad. En general, influyen otros países, y confirma que los fondos de inversión ISR no negativamente en estos resultados las fusiones y transforma- sólo no difieren del resto de los fondos convencionales en ciones que han sufrido los fondos ISR gestionados en términos de rentabilidad, sino que, incluso, pueden tener ren- España. Esto muestra, en cierto modo, la falta de madurez tabilidades superiores. del sector en nuestro país. REFERENCIAS BIBLIOGRÁFICAS En cambio, la rentabilidad de los fondos ISR comercializados en España, pero gestionados fuera de nuestro país, pre- AECA (2004): Marco Conceptual de la Responsabilidad Social sentan rentabilidades superiores y mayor homogeneidad en Corporativa, AECA (Madrid). los resultados que los fondos ISR domiciliados y gestiona- Arms, M. (1999): “The Opportunity Cost of Monetary Conviction: dos en España. 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84 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Hart, S. L.; Ahuja, G. (1994): “Does it Pay to Be Green?”, paper Notas: presentado en la reunión nacional de la Academy of Management (Dallas, Texas), agosto. 1.- La metodología para la selección de empresas se establece a partir de los Johnson, R.; Greening, D. (1994) “Relationships Between filtros de selección o ethical screening y se articula en criterios negativos, que excluyen determinadas inversiones y criterios positivos, cuya Corporate Social Performance, Financial Performance, and finalidad es seleccionar aquellas con mejor comportamiento en térmi- Firm governance”, Best Paper Proceedings of The Academy of nos de RSE. Dentro del grupo de criterios negativos destacan aquellos Management, 314-318. que se corresponden con lo generalmente rechazable por la sociedad Kreander, N.; Gray, R. H.; Power, D. M.; Sinclair C. D. (2005): (armamento, drogas, pornografía infantil,....) u otros más controverti- “Evaluating the Performance on Ethical and Non-Ethical dos que responden a requerimientos de un grupo social importante Funds: A Matched Pair Analysis”, Journal of Business Finance (energía nuclear, tabaco, experimentación con animales,....). Las & Accounting, 32, (7-8), 1465-1493. empresas que superan el primer filtro de criterios excluyentes son nue- Mallin, C.; Saadouni, B.; Briston, R. (1995) “The Financial vamente examinadas con el objetivo de seleccionar aquellas que dentro de sus diferentes sectores y mercados estén teniendo una mejor Performance of Ethical Investment Funds”, Journal of Business actuación en el campo de la RSE. La adopción de políticas de protec- Finance & Accounting, 22, (4), 483-496. ción medioambiental, la transparencia en la información, la formación McGuire, J.; Sundgren, A.; Schneeweis, T. (1988): “Corporate de los trabajadores o el gobierno corporativo son algunos de los crite- Social Responsibility and Firm Financial Performance”, rios positivos más utilizados. Academy of Management Journal, 31, (4), 854-872. Morris, S.; Rehbein, K.; Hosseini, J.; Armacost, R. (1990): 2.- El patrimonio de los fondos de inversión mobiliaria en España a 31 de “Building a Profile of Socially Responsive Firms”, en Wood, diciembre de 2005 ascendía a 207.449.533 euros. Datos obtenidos de D. J. y Martello, W. E. (eds.) Proceedings of the International la CNMV, Informes sobre instituciones de inversión colectiva, cuarto trimestre de 2005, cap. 2: “Fondos de inversión mobiliarios: número, Association for Business and Society, 297-303. partícipes y patrimonio de los fondos de inversión mobiliaria por tipo Moskowitz, M. (1972): “Choosing Socially Responsible Stocks”, de fondo” . Business and Society Review, 10, 71-75. Moskowitz, M. (1975): “Profiles in Corporate Responsibility: The 3.- Hemos incluido estos fondos en nuestra investigación porque en la Ten Worst and the Ten Best”, Business and Society Review, 13, Circular sobre utilización por las instituciones de inversión colectiva 28-42. de denominaciones “ético”, “ecológico” o cualquier otra que incida M'Zali, B.; Turcotte, M. (1997): “Étude des portefeuilles d'investis- en aspectos de responsabilidad social de la Comisión Ética de Inverco, sement “environnementaux” au Canada et en Italie”, de 15 de noviembre de 1999 se incluyen los fondos solidarios como productos socialmente responsables. No obstante, no son fondos ISR Documento de trabajo nº 05-97. en sentido estricto. Orltizky, M.; Benjamín, J.D. (2001): “Corporate Social performance and Firm risk: A meta-analytic Review”, Business and 4.- Una vez más, queremos recordar que, cuando hablamos de fondos de Society Review, vol.40, nº4, 369-396. inversión convencionales, nos referimos a aquellos que no realizan una Reyes, M.; Grieb, T. (1998): “The external performance of socially- preselección de la cartera de inversión a partir de criterios ISR. responsible mutual funds”, American Business Review, 16, (1), 1-7. 5.- Como indicador del activo libre de riesgo hemos utilizado la rentabilidad Roman, R.; Hayibor, S.; Agle, B. R. (1999): “The relationship bet- de las Letras del Tesoro a 1 año. ween social and financial performance”, Business & Society, 6.- En nuestra investigación hemos comparado la rentabilidad neta acumu- 38, (1),109-117. lada anual de cada uno de los fondos ISR con la rentabilidad neta acu- Social Investment Forum (2006): 2005 Report on Socially mulada anual de su “equivalente” convencional. La rentabilidad se ha Responsible Investing Trends in the United States, Washington, obtenido de los Informes trimestrales sobre IIC, 4º trimestre, 2005. January. Statman, M. (2000): “Socially Responsible Mutual Funds”, Financial Analysts Journal, 56, (4), 30-39. Vermeir, W.; Corten, F. (2001): “Sustainable investment: The complex relationship between sustainability and return”, Bank-en Financiewezen / Revue bancaire et financière. . Waddock, S. A.; Graves, S. B. (1997a): “The Corporate Social Performance-Financial Performance Link”, Strategic Management Journal, 18, (4), 303-319. Wokutch, R. E.; Spencer, B. A. (1987): “Corporate saints and sin- ners. The effects of philanthropic and illegal activity on organizational performance”, California Management Review, 29, (2), 62-77.

SELECCIÓN DE ARTÍCULOS IIS 2007 85 Artículos 86 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos LOZANO, J.M.

ARTÍCULOS “L’EMPRESA SOCIALMENT RESPONSABLE”

Revista Econòmica de Catalunya (2007), núm. 55.

SELECCIÓN DE ARTÍCULOS IIS 2007 87 Artículos 88 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos L’empresa socialment responsable1

Josep M. Lozano ESADE

1. Al principi era l’ètica

Mai com en els darrers anys s’havien incorporat al discurs sobre l’empresa expressions com ara ètica i responsabilitat social de l’empresa (RSE). Tot i que, en rigor, aquestes preocupacions no són una novetat, sí que ho és la seva presència creixent en l’opinió pública i en el discurs empresarial. En aquest canvi de perspectiva hi han intervingut en graus diversos empreses, governs, ONG, mitjans de comunicació i consumidors, i confi gura un procés que ens porta a una autèntica redefi nició de com s’entén la contribució de l’empresa a la societat. Alhora, s’està generant un nou perfi l de demandes i expectatives cap a l’empresa, així com noves formes d’innovació empresarial.

De totes maneres, en aquest procés s’ha produït un fenomen curiós, que és la constatació que a Espanya, i a d’altres indrets, com més es parla de RSE, menys es parla d’ètica empresarial. Fenomen que mereixeria una anàlisi sociològica més detallada perquè, a primera vista, pot provocar una certa perplexitat que ètica i responsabilitat social es facin retòricament la competència.

La RSE és “la integració voluntària, per part de les empreses, de les preocupacions socials i mediambientals en les seves operacions comercials i en les relacions amb els seus interlocutors”, tal com la defi neix la Comissió Europea. A risc de simplifi car, crec que hi ha tres perfi ls d’aproximació concreta a la RSE.

El primer consisteix a veure la RSE com una demanda més del mercat. Per tant, encara que es parli de RSE, en el fons es fa, senzillament, com un reconeixement que les demandes del mercat i de la societat es tornen més complexes. La RSE aquí és una qüestió d’anàlisi dels nous riscos que té l’empresa en el context de la societat de la informació, i un d’aquests riscos és una cosa tan polièdrica com la reputació. Per tant, des d’aquesta perspectiva, encara que es parli molt de RSE, es fa sense cap convicció intrínseca, només com a resposta a aquestes noves demandes. En el límit això signiﬁ ca que, quan la demanda es difumini, immediatament ho farà la RSE.

El segon perﬁ l consisteix a veure la RSE com una nova àrea de gestió que cal incorporar a la pràctica empresarial. Àrea que cal consolidar internament, com es va fer al seu moment amb altres àrees, que avui ja es consideren plenament normalitzades. Des d’aquesta perspectiva, la RSE es considera una dimensió complementària de l’activitat de l’empresa, que no afecta el nucli de la gestió. L’empresa, en el fons, se segueix gestionant igual que quan no es parlava de RSE, però amb una nova modulació, i incorporant-hi el conjunt d’activitats pròpies del nou departament de RSE. En casos molt reduccionistes, gairebé es pot considerar la RSE com un problema de talonari: la contribució de l’empresa a causes socials, sens dubte lloables, però perifèriques a l’activitat empresarial.

Finalment, des de la tercera perspectiva, es considera la RSE com una manera de repensar de manera global el model d’empresa. Des d’aquest punt de vista, la RSE és i no és —a la vegada— una novetat. No ho és perquè cap empresa comença de zero en aquest punt, sinó que totes parteixen de la pròpia trajectòria, en la qual moltes vegades ja hi pot haver alguns elements que deﬁ neixen una política de RSE. Però és una novetat en el sentit que ens trobem en un context en el qual s’estan redeﬁ nint les relacions entre empresa i societat. La RSE és aquí l’expressió d’una visió estratègica que articula un projecte d’empresa capaç d’actuar coherentment des del compromís amb uns valors que l’empresa ha interioritzat.

1 Aquest treball se situa en el marc de les línies de recerca de l’Institut Persona, Empresa i Societat (IPES). L’Obra Social Caixa Sabadell era l’entitat promotora de l’IPES.

SELECCIÓN DE ARTÍCULOS IIS 2007 89 Artículos De fet, aquestes tres perspectives no es donen en estat pur. Una empresa hi pot oscil·lar entre algunes. Fins i tot dins d’una mateixa empresa hi pot haver directius o departaments més pròxims a cada una. És comprensible, en la mesura que la RSE no és un estat, sinó un procés. I en RSE el que importa és el procés, i que aquest procés sigui l’expressió d’una dinàmica i un compromís coherents i transparentes per part de l’empresa. Perquè el que menys es tolera (dins i fora de l’empresa) és que el discurs sobre la RSE s’utilitzi per dissimular altres dèﬁ cits.

Possiblement avui ens trobem més còmodes amb el llenguatge de la RSE que amb el de l’ètica perquè ens resulta més fàcil avaluar resultats que navegar en el procel·lós mar postmodern de l’ètica. Probablement parlar de responsabilitat (i, per tant, d’actuacions i de presa de decisions) resulta més proper a una sensibilitat managerial. Però crec que al ﬁ nal del recorregut per la RSE —ﬁ nal no pas imminent— caldrà que ens retrobem amb l’ètica. Perquè parlar de RSE ens recorda que no es tracta de retòrica, sinó de models de gestió. Però parlar d’ètica ens recorda que un model de gestió sempre comporta un model de persona i un model de societat.

2. RSE: però què vol dir social?

Quan ens preguntem per l’impacte social de les empreses, la primera qüestió que se’ns planteja és precisament la imprecisió del terme social, una imprecisió que no sempre resulta un bon punt d’ajuda per traduir-lo en termes de gestió. La diversitat d’usos del terme social —especialment en els debats sobre la RSE— ha portat que sovint s’utilitzin les mateixes paraules per dir coses substancialment diferents. Així, la S de RSE s’ha entès:

• Com la relació de l’empresa amb determinats stakeholders del seu entorn social, habitualment no vinculats directament a la seva activitat empresarial. • Com una dimensió o un aspecte que, en diversos graus i intensitats, és inherent a la relació amb tots els stakeholders, i que cal tenir en compte junt amb altres dimensions o aspectes. • Com una manera de comprendre la gestió i l’excel·lència empresarials, la qual cosa inclou tenir en compte tots els stakeholders. • Com un compromís i uns objectius que van més enllà dels especíﬁ cs del negoci, que són compartits amb altres stakeholders, i que situen l’actuació de l’empresa en un horitzó de comprensió que esdevé també referència per a tothom. • Com l’eix del discurs que legitima la RSE (l’aspecte social) enfront d’altres aspectes del discurs sobre l’empresa (com ara l’econòmic, el mediambiental, el managerial, l’ètic, etc.), contrastant-hi o complementant-los.

No ens ha d’estranyar, doncs, que alguns malentesos en els debats econòmics, polítics i socials que abunden sobre el tema siguin deguts, senzillament, al fet que amb les mateixes paraules se sostenen visions diferents, i ﬁ ns i tot oposades, del que hi ha realment en joc, així com les respectives, i no menys diverses, estratègies.

A més, la S de la RSE no deixa de presentar difi cultats de comprensió i de comunicació. Recordem, entre d’altres, que al·ludeix alhora a la totalitat i a una part del concepte; que facilita la contraposició entre l’aspecte social i l’econòmic, o la curiosa consideració del que és social com una cosa estranya i afegida a l’empresa (en tant que institució primàriament econòmica); que difícilment refl ecteix de manera òbvia els aspectes ambientals; que facilita un debat irresoluble sobre l’abast i la concreció del que és social a la pràctica, o que no permet aclarir fi ns a quin punt és exigible la RSE.

90 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos D’altra banda, parlar de responsabilitat social sembla que planteja com a primera referència les conseqüències de les actuacions empresarials. Per això, quan es mesura l’impacte de les actuacions de l’empresa, no s’ha d’oblidar la S, però tampoc no s’ha de reduir tot a la S (si no és que aquesta S es refereix a la qüestió social en un sentit tan genèric que sigui, de fet, una mena de contenidor). Això és així, entre altres raons, perquè l’empresa no es relaciona amb la societat, sinó amb els stakeholders, i consegüentment la gestió de l’impacte social és la gestió de l’impacte de les actuacions de l’empresa en aquesta xarxa de relacions. Al mateix temps, la realitat del nostre món interdependent ens impedeix de concebre aquestes relacions de manera unidireccional, únicament des de l’empresa cap als stakeholders: la gestió d’una responsabilitat relacional requereix una empresa no solament capaç d’actuar, sinó també capaç d’escoltar. I per això el diàleg amb els diversos stakeholders es converteix en un element estructurador de l’exercici de la gestió d’aquestes relacions.

2.1. Parlem de stakeholders

El terme stakeholder va aparèixer per primera vegada l’any 1963 en un memoràndum del Stanford Research Institute. En aquella primera deﬁ nició es concebia els stakeholders en funció de la supervivència corporativa: grups sense el suport dels quals l’organització deixaria d’existir. Des del principi, doncs, tenim els tres elements que persistiran al llarg de tot el debat sobre els stakeholders: l’empresa, els altres actors que s’hi relacionen i la naturalesa d’aquesta relació. Tot el debat en relació amb els stakeholders girarà sempre, en darrer terme, al voltant d’aquests tres elements. A aquesta primera deﬁ nició en seguiran d’altres, entre les quals cal destacar, per la rellevància que ha tingut, la de Freeman: qualsevol individu o grup que pot afectar la consecució dels objectius de l’organització o en pot ser afectat.

El mateix terme triat, tot i essent brillant i expressiu, arrossega a la pregunta pel contrast i, alhora, la relació amb els stokholders (accionistes). Quina relació hi ha entre l’enfocament stakeholder i l’enfocament stockholder? El primer s’oposa al segon? L’integra? El supera? O senzillament el fa més soﬁ sticat? Des del primer moment, veus prou rellevants com és ara Freeman van assenyalar que, tant des de la teoria com des del management, parlar de stakeholders comportava un canvi en la manera de pensar l’actuació de l’empresa i la seva valoració: el pas dels accionistes als stakeholders. En aquest sentit, no s’ha d’oblidar que el desenvolupament de la teoria dels stakeholders ha estat intrínsecament lligat al debat sobre la responsabilitat social de l’empresa.

El problema de la relació entre l’enfocament als accionistes i l’enfocament als stakeholders remet, per damunt de tot, a la gestió: es refereix a què han de fer els directius i a què n’ha de guiar l’acció. I no tan sols què la guia, sinó també què la legitima. Per això tant en les versions més combatives (Friedman: la responsabilitat social de l’empresa és augmentar els beneﬁ cis) com en les més matisades (preeminència de la relació amb els accionistes per damunt d’altres stakeholders), la qüestió de la prioritat —o no— dels accionistes marca una línia divisòria en la manera d’acostar- se a la comprensió dels stakeholders. Avui, a sobre, cal afegir que no hi ha cap evidencia que els inversors es plantegin les inversions d’una única manera o des d’una perspectiva homogènia: la diversitat d’interessos, prioritats i perspectives temporals és cada vegada més un fet entre ells. A més, hi ha inversors que valoren les inversions des de criteris econòmics i socials alhora, tal com posa de manifest el creixement de les inversions socialment responsables.

Ara bé, és evident que l’enfocament als stakeholders fa inseparable el debat sobre el model d’empresa del debat sobre el model de gestió. Consegüentment, atès que una teoria de l’empresa en clau stakeholder ha de redeﬁ nir el propòsit de l’empresa, aquesta redeﬁ nició afecta també la comprensió de l’èxit i dels resultats corporatius i, en conseqüència, la comprensió de com ha de ser gestionada l’empresa.

SELECCIÓN DE ARTÍCULOS IIS 2007 91 Artículos 2.2. És tan obvi identiﬁ car els stakeholders?

Pot semblar, doncs, que el criteri de demarcació entre diferents aproximacions als stakeholders se situa en l’àmbit valoratiu i normatiu, una vegada que hem reconegut que s’ha d’evitar el risc de convertir una constatació sociològica en una prescripció gerencial. Però, de fet, molts plantejaments referits als stakeholders es basen en una identiﬁ cació dels stakeholders que, suposadament, no hauria de presentar més problemes que el de fer una observació prou detallada.

De totes maneres, tampoc no hi ha hagut coincidència en els mecanismes d’identifi cació i anàlisi. Qui decideix quins grups són stakeholders en un context determinat? El problema de fons és que la idea d’una aproximació merament descriptiva als stakeholders exempta de valors és una contradicció de termes, a causa dels elements que confl ueixen en la seva identifi cació. Al capdavall, els atributs dels stakeholders són construccions socials, i no la realitat objectiva, i, per tant, tota identifi cació de stakeholders només es pot fer des d’assumpcions. O, dit amb unes altres paraules, quan identifi quem i descobrim els stakeholders, el que descrivim i posem de manifest simultàniament és com entenem la mateixa naturalesa de l’empresa i dels negocis, que és el que ens permet fer qualsevol descripció.

Per tant, no podem parlar de stakeholders si, de manera simultània, no posem de manifest els valors, criteris i concepcions que fan que els reconeguem i els jerarquitzem com a tals. Cap teoria dels stakeholders no és possible si no reconeix que només des d’una visió densa en valors sobre l’empresa i les seves relacions poden identifi car els elements que les confi guren: qui són els actors rellevants, quins interessos i quins poders es prenen en consideració, en quins àmbits es considera pertinent parlar d’afectar o de ser afectat, qui i com estableix què s’entén per èxit i per resultats corporatius, etc. L’enfocament als stakeholders, en defi nitiva, comporta articular, expressar, analitzar i entendre les relacions corporatives.

Més enllà de l’atomisme d’una agregació de relacions, també cal preguntar-se si els stakeholders disposen d’un marc de comprensió que estableixi i doni sentit a aquestes relacions i permeti regular- les i entendre-les. Un marc de comprensió que, en primer lloc, permeti explicitar quins són la ﬁ nalitat i el propòsit de l’empresa, i no solament quins en són els interessos, i que, en segon lloc, permeti explicitar els valors, drets i deures dels stakeholders involucrats partint d’una visió global de la societat, i de la contribució especíﬁ ca que l’empresa fa a la societat en la qual opera.

En darrer terme, tot debat sobre teories dels stakeholders és també un debat antropològic i social, perquè tant la identifi cació descriptiva com les propostes prescriptives relatives als stakeholders pressuposen algun model antropològic i una visió de quin és el rol social de les empreses. No es pot parlar de stakeholders sense tenir presents els valors que els diversos actors identifi quen com a confi guradors d’aquesta relació. Una relació entre stakeholders no solament està carregada d’interessos, sinó que també és densa en valors i, consegüentment, tot discurs sobre els stakeholders necessita un model de comprensió dels valors que estructuren aquesta relació.

Així, doncs, en tota relació amb stakeholders no solament hi ha interessos en joc; també hi ha necessitats, valors i principis. I precisament per aquest motiu qualsevol refl exió sobre els stakeholders planteja més aviat abans que després la pregunta per la seva jerarquització. Identifi car algú com a stakeholder no indica, per si mateix, quin interès hi ha, o quin tipus d’interès hi ha; ni tampoc aclareix fi ns a quin punt o amb quina atenció s’hauria de considerar aquest interès. No solament s’ha d’identifi car el que hi ha en joc en cada relació, sinó que cal implicar-se a establir la qualitat d’aquesta relació: el fet que es constati una relació no ens diu res en si mateix sobre el signifi cat d’aquesta relació per a cada un dels involucrats.

S’ha dit que no s’han de considerar només els interessos, sinó també la capacitat d’infl uència i el poder. Però defi nir els stakeholders en termes del poder que tenen per infl uir és perfectament compatible amb les demandes de l’estratègia empresarial. L’existència de relacions de poder i d’interès planteja necessàriament la pregunta per la legitimitat d’ambdós. I això val per als dos pols de la relació, no només per a l’empresa. Un dels riscs més grans del debat sobre la RSE és que

92 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos s’estengui una interpretació segons la qual les expectatives i demandes socials envers l’empresa és poden ampliar indeﬁ nidament, i que la seva rellevància pràctica només depèn del poder d’inﬂ uència de qui les reclama.

Així, doncs, des del punt de vista teòric tot discurs sobre stakeholders incorpora necessàriament sempre, i de manera inseparable, descripció, estratègia, valors i principis. I, des del punt de vista pràctic, la naturalesa de les relacions amb els stakeholders no és universalment vàlida, sinó més aviat contingent, i depèn de la situació per la qual passa l’organització. En defi nitiva, l’eix de tot enfocament als stakeholders són els actors en el context de la relació, i no els actors com a preexistents a la relació que estableixen. Un enfocament stakeholder que es prengui seriosament a si mateix recolza sobre una visió relacional de l’empresa. Per això cada model de relació amb els stakeholders que adopti una empresa confi gura un model de RSE. La RSE no és res més que la manera com l’empresa defi neix i gestiona la relació amb els seus stakeholders.

3. La RSE suposa una empresa relacional

Amb la RSE ens trobem, doncs, més enllà del debat sobre les relacions entre empresa i societat. Perquè, des d’aquesta perspectiva, el problema és la i. El que ens hem de plantejar és el paper i el propòsit de l’empresa en la societat. Perquè les empreses no s’entenen al marge de la societat, com si fossin una organització que justiﬁ ca per si mateixa la seva existència. Per consegüent, ens hem de preguntar si la perspectiva des de la qual pensem i desenvolupem l’enfocament stakeholder situa l’empresa en el centre o la considera com un node en un sistema de relacions. La capacitat de veure els reptes i les oportunitats en clau de sistema no és incompatible —al contrari— amb la necessitat d’afrontar les relacions amb els stakeholders des de la perspectiva de l’empresa, ja que aquesta perspectiva és capaç de tenir en compte el marc de referència social. Però, en canvi, una visió dels stakeholders que només es plantegi des de l’empresa centrada en si mateixa els subordina a una gestió de les relacions que és incapaç de veure-hi alguna cosa més que una projecció dels interessos de l’empresa.

Avui ens plantegem d’una manera nova si el món es pot convertir en un lloc per a tothom (Barber) o si vivim en un món desbocat (Giddens). La necessitat de governança dels processos de globalització ja no involucra només els governs i les institucions polítiques: és indispensable l’aliança entre els diversos actors, i la seva coresponsabilització, sobretot pel que fa a la creació d’acords bàsics compartits.

Un dels elements que vertebren tots aquests nous processos socials i empresarials és el pas cap al que s’ha anomenat la societat xarxa (Castells). És l’emergència de la societat xarxa la que justiﬁ ca i fa necessari que l’enfocament de les relacions amb els stakeholders deixi d’estar centrat en l’empresa i es plantegi també des d’una visió sistèmica.

La referència per entendre l’organització és la xarxa, i l’organització passa a ser un nus de les xarxes en què s’insereix. Però no n’és el centre, entre altres raons perquè una xarxa no es deﬁ neix a partir d’un centre. Això signiﬁ ca que les relacions amb els stakeholders no es poden plantejar com a relacions segregades o diàdiques, d’un en un, assumpció que sol ser el substrat de moltes teories sobre els stakeholders. L’organització no és el centre de la xarxa, i per això entendre’n la situació com un element en un sistema de relacions permet entendre més bé com enfocar les interaccions amb els diversos stakeholders.

Això ens obliga a modiﬁ car les nostres assumpcions. Ja no es tracta només de veure les relacions amb els stakeholders des del binomi conseqüencialista afectar - ser afectat. Es tracta també de pensar en clau d’interdependència i, consegüentment, de passar de parlar de la responsabilitat a parlar de la coresponsabilitat. Això és, per cert, el que justiﬁ ca passar de parlar de responsabilitat social de l’empresa a parlar de responsabilitat social de les organitzacions. Quan es deixa de considerar l’empresa com a centre de l’univers i la veiem inscrita en relacions d’interdependència en la seva xarxa de relacions, això ens obliga a parlar de responsabilitats compartides, i desemboca

SELECCIÓN DE ARTÍCULOS IIS 2007 93 Artículos en la necessitat d’una aproximació responsable als stakeholders per part de totes les organitzacions, siguin privades, públiques o del sector social.

Per això creiem que té sentit no limitar-se a veure els stakeholders tan sols com un conjunt de relacions diàdiques que cal gestionar. Necessitem una visió dels stakeholders més basada en xarxes i més orientada a processos. Serà en aquest marc on construirem la confi ança i els compromisos; i serà en aquest marc on afrontarem les diferències i els inevitables confl ictes que també confi guren a la pràctica les relacions amb els stakeholders. Construir aquesta relació complexa vol dir narrar- la, explicitar-la, elaborar-la, entendre-la i donar-li signifi cat. I fer-ho tenint en compte els interessos, valors i principis que hi ha en joc. Però, sobretot, fer-ho sabent que cal construir —i cuidar— un espai en el qual siguin possibles el diàleg, la confi ança i, en algun sentit, la col·laboració.

L’enfocament als stakeholders és indispensable avui per pensar l’empresa i qualsevol organització. Però ens enganyaríem si creguéssim que qualsevol discurs corporatiu sobre stakeholders recolza sobre si mateix. L’elaboració d’un discurs sobre stakeholders sempre s’estructura des de l’assumpció (implícita o explícita) d’un model d’empresa, d’un model de gestió, d’un model d’identiﬁ cació de stakeholders, d’un model d’explicitació de valors i d’un model de legitimació. Reconèixer que sempre que es parla de stakeholders es parla des d’assumpcions, ens permet entendre que una aproximació als stakeholders és més una mirada i una narrativa sobre l’empresa que una teoria. Aquest enfocament es concreta en una manera d’entendre els tres elements que el constitueixen: l’organització, els actors que s’hi relacionen i la naturalesa d’aquesta relació. Creiem que avui no podem parlar dels stakeholders des de la perspectiva d’una organització centrada en ella mateixa i que només sigui capaç de veure el món des de si mateixa. La societat emergent és una societat xarxa, feta d’interdependències, que exigeix que els diversos actors siguin capaços de veure’s ells mateixos i les seves pràctiques també des de la perspectiva d’aquest sistema d’interdependències.

La RSE, resultat de noves formes d’interdependències

Partir de la realitat —de la interdependència— ens pot ajudar a entendre millor per què la RSE ha assolit la importància que ha assolit. De fet, una de les qüestions recurrents de l’evolució de la RSE ha estat el comentari que no es tracta de res de nou, que d’això se n’ha parlat sempre i que som davant de l’etern retorn d’una retòrica que té un component cíclic en el món empresarial. Això seria veritat (i només molt parcialment) si forméssim part de la llarga llista d’addictes a utilitzar denominacions, terminologies i aﬁ rmacions fora de context, com si tinguessin vida pròpia. Però no és aquest el cas, ans al contrari. Els termes actuals en què és planteja la RSE tenen un perﬁ l propi, precisament perqusè són el resultat d’un recorregut que, en pocs anys, ha canviat l’ecosistema de relacions del món empresarial. Quadre 1

-social- (EB) patronal (govern) sindicats

Font: Josep M. Lozano. ESADE

En el context de l’Estat del benestar, quan hom parlava de la qüestió social referida a l’activitat empresarial pensava en uns interlocutors ben establerts i defi nits: les patronals, els sindicats i els governs fent una funció alhora facilitadora i promotora. Els substantius que eren qualifi cats per social eren diversos: pacte, diàleg, acord i semblants. Però els actors eren aquests. I ho eren fi ns

94 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos al punt que en algun moment del procés alguns poden haver tingut la temptació de creure que el vincle entre empresa i social era competència seva, i que qualsevol que s’hi volgués posar era un sobrevingut. Era un plantejament coherent amb la societat industrial, en què la qüestió social era gairebé sinònima de la qüestió obrera. Recordar això no respon a una pruïja historicista, sinó que és també un avís: parlar de RSE no ha de ser una coartada per encobrir retrocessos en les conquestes laborals o, simplement, males pràctiques laborals. Si fos això, simplement, no estaríem parlant de RSE. Però quan parlem de RSE no parlem de retrocessos, sinó d’uns canvis que inclouen els aspectes laborals convencionals, però que els desborden i van més enllà. Ara bé, els canvis en el desenvolupament de la RSE estan lligats indissolublement als processos de globalització.

Quadre 2

globalització empresas Transnacionals ONG

TIC RSE

€

-social- patronal (govern sindicats (EB)

Font: Josep M. Lozano. ESADE

Entre els diversos aspectes involucrats a considerar, en voldria subratllar dos: el desenvolupament de les tecnologies de la informació i la mundialització dels mercats fi nancers, amb la consegüent aparició i consolidació, en aquest darrer cas, de les inversions socialment responsables. I al darrere d’ambdós l’aparició d’un actor: la societat civil global, amb la seva infi nita varietat d’ONG, organitzacions socials, etc. Crec que la redefi nició del discurs sobre la RSE ha estat propiciat pel trobament, sovint confl ictiu, entre les empreses globals, per una banda, i les organitzacions de la societat civil global, per una altra. Les organitzacions socials s’han mobilitzat per escrutar les pràctiques empresarials, i denunciar aquelles actuacions que consideraven reprovables, amb el consegüent risc que això suposa per a les empreses pel que fa a la reputació. Però les organitzacions socials també van ser a l’origen de les inversions socialment responsables, que han donat lloc, entre d’altres, a l’existència d’inversors institucionals i índexs especialitzats que cada vegada tenen més impacte tant en la cotització com, sobretot, en el reconeixement de les empreses. Tot plegat ha donat lloc que les empreses hagin d’incorporar a les seves agendes reptes de gestió amb els quals no estaven acostumades a encarar-se, i també que hagin hagut d’aprendre a relacionar-se amb uns actors amb els quals potser no estaven tan acostumades a tractar. En un món global i interconnectat la visió que es té de les empreses i del seu poder i, alhora, les expectatives que s’hi projecten queden substancialment modifi cats.

SELECCIÓN DE ARTÍCULOS IIS 2007 95 Artículos Quadre 3

globalització empresas Transnacionals ONG

RSE TIC

-social- xarxes (EB) patronal empresarials sindicats + pimes

Font: Josep M. Lozano. ESADE

(govern)

Finalment, a conseqüència d’això anterior es produeix una redefi nició de la situació en els diversos països. • El discurs sobre la RSE, en primer lloc, retorna a cada país sota la forma de noves pràctiques i activitats empresarials, i també sota la forma d’un discurs que guanya entitat pròpia i que vol redefi nir els paràmetres de la legitimitat empresarial. • En segon lloc, genera canvis en les organitzacions empresarials. Les organitzacions empresarials convencionals es troben amb una qüestió que no respon a la lògica de l’actuació territorial. Es troben davant d’una qüestió que comporta un discurs i unes exigències globals sobre l’empresa, i alhora una aproximació a la qüestió que es planteja en clau de voluntarietat. Això fa que en un primer moment adoptin un to més aviat defensiu, si no clarament contrari (amb honroses excepcions), entre altres raons perquè hi veuen primordialment un elevat risc d’increment de costos i d’increment de regulacions. Paral·lelament, les empreses que han protagonitzat el gir vers la RSE creen noves xarxes de relacions i espais de trobada específi cs per tal de poder compartir i aprofundir les respostes que es poden donar a aquesta nova problemàtica. I apareix com una qüestió cada vegada més rellevant la importància d’incorporar-hi les pimes, de manera adequada a les seves peculiaritats. • A partir de les experiències generades per la nova situació, les ONG passen a voler jugar un paper més rellevant com a interlocutores de les empreses. Aquesta relació pot anar de la confrontació a la col·laboració, però en tot cas passen a aparèixer com uns actors indispensables en aquest joc, i en conseqüència això genera noves preguntes i debats sobre la legitimitat del seu rol, de la seva manera d’actuar i d’organitzar-se i de les seves pretensions

96 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos • Per als sindicats, en un primer moment la RSE era una aproximació que canviava el discurs i l’agenda de la problemàtica social de l’empresa i, alhora, podia suposar una relativa pèrdua d’exclusivitat en les relacions amb l’empresa sobre qüestions socials. Però progressivament, sobretot per part dels sectors més lúcids i més atents als processos de canvi econòmic i social, la RSE és vista com una oportunitat i, alhora, com el repte d’ampliar tant l’agenda de preocupacions de l’acció sindical com l’abast geogràfi c. • Els governs es van poder sentir desplaçats per diversos motius. L’RSE és una qüestió sobre la qual hi ha un consens molt gran quant al seu caràcter voluntari, i la temptació d’identifi car la pròpia capacitat d’acció amb regulació no sempre queda bandejada: en conseqüència, es troben davant d’un plantejament que qüestiona l’ús de l’instrument amb el qual se solen sentir més còmodes (la regulació). La RSE incorpora més actors al diàleg amb les empreses, amb relació als quals els governs i les administracions no sempre veuen clar quin paper han de jugar-hi. La RSE és una visió sobre les actuacions de les empreses que no coneix límits territorials, i els governs i les administracions tenen un marc institucional clarament territorial. Excepte algunes iniciatives amb una extraordinària capacitat de visió, no és fi ns molt recentment que es comença a veure el sentit al fet que els governs tinguin una política de RSE. • Finalment, cal no oblidar que l’escenari on és juga l’agenda, l’impacte i el desenvolupament de la RSE són els mitjans de comunicació, el paper dels quals és decisiu en tots i cadascun dels aspectes de la RSE... cosa que genera noves preguntes, i també crítiques, sobre les seves pròpies responsabilitats en tot el procés.

Ens trobem, doncs, en una situació en què la RSE, per una banda, ha fet eclosió en la pretensió de proposar una nova mirada sobre l’empresa, coherent amb els processos de canvis econòmics, polítics i socials dels darrers anys, i, per una altra, ha esclatat en una agenda de temes i qüestions a tractar cada vegada més gran i dispersa. Potser al ﬁ nal, sense negligir tots aquests punts, caldrà retornar a preguntes de caràcter més fonamental per tal de no perdre la visió del bosc de la RSE a causa de la ﬁ xació en els arbres de la seva pròpia proliferació temàtica i, anant més enllà, recuperar la pregunta pel marc de referència ètic on se situa.

Al ﬁ nal, caldrà retornar a l’ètica: la riquesa ètica de les nacions

És veritat que darrerament s’ha produït una autèntica explosió de les qüestions relacionades amb la responsabilitat social de l’empresa: memòries, polítiques de conciliació amb la vida familiar, acció social... La llista creix de dia en dia. És per això que correm el risc de dispersar-nos en la diversitat dels temes de l’agenda. I l’obsessió per fer alguna cosa per tal d’estar al dia ens pot fer oblidar que el desenvolupament de la RSE no es pot plantejar seriosament si no es vincula de manera simultània a una visió de l’empresa i a una visió del país. No neguem la necessitat de moltes iniciatives concretes. Però considerem que l’única manera de no reduir la RSE a una moda o un nou producte de consultoria és no oblidar que representa una gran oportunitat per reelaborar un projecte d’empresa i de país.

El debat sobre la RSE posa en relleu que en un món globalitzat no tan sols competeixen els productes i serveis, sinó també els models d’organització i de gestió (cosa que sovint s’oblida). I també competeixen models de país. Per això és cada vegada més necessari que cada empresa i cada país conﬁ gurin la seva aproximació a la RSE. Aproximació que ningú no fa en el buit o partint de zero, sinó reelaborant l’agenda de la RSE des de la pròpia tradició empresarial, social i cultural.

SELECCIÓN DE ARTÍCULOS IIS 2007 97 Artículos No hi pot haver empreses amb èxit en països fracassats, i viceversa. Per això M. Porter parla de l’avantatge competitiu de les nacions. Perquè el desenvolupament econòmic està vinculat al teixit de relacions socials i culturals en què es produeix l’activitat empresarial, i en el qual aquestes relacions es reforcen mútuament. No hi ha una empresa realment viable que no estigui vinculada en algun grau al territori en què s’insereix. El que resulta una novetat avui dia, amb el predomini creixent de les xarxes, és que aquesta implicació mútua en el territori i amb el territori s’ha de construir deliberadament, perquè ja no ve donada per la inèrcia d’una societat més o menys estable i confortablement establerta.

El nou canvi d’accent que vivim ara és el de plantejar la relació entre l’avantatge competitiu de les nacions i la riquesa ètica de les nacions. Consisteix sobretot en la qualitat amb què actuen els professionals, en la coherència i la consistència del marc institucional, en els valors de referència que conﬁ guren les relacions socials i la vida de les organitzacions. Per això, impulsar i fomentar el desenvolupament de la RSE en el marc d’una nació és una de les pedres de toc que permet l’articulació de l’avantatge competitiu i de la riquesa ètica. Perquè ajuda a vertebrar explícitament una visió de l’empresa i una visió del país en el context d’un món globalitzat. La RSE contribueix a conﬁ gurar un país com un espai en el qual economia i societat no es visquin esquizofrènicament i en el qual el lideratge es vinculi amb el compromís cívic i nacional.

Això no ens ha de fer oblidar que parlar de RSE és parlar d’empreses, i d’excel·lència empresarial. Consegüentment, la RSE s’ha de gestionar i ha de ser gestionable. La clau, doncs, consisteix en com s’integra transversalment en els processos empresarials. Això signiﬁ ca que no es pot plantejar com una font de nous problemes i tensions per a les pimes, ni com una estratègia de legitimació ideològica per a les grans empreses. La diversitat d’aspectes que cobreix la RSE s’han d’integrar en processos de millora i innovació empresarial. Des d’una visió de futur, la RSE s’ha de plantejar com una cosa lligada a la viabilitat i la supervivència de les empreses. Per això té tant de sentit que l’Acord Estratègic que es va signar a Catalunya parli d’impulsar una competitivitat responsable i sostenible.

Per a això necessitem lideratge, compromís i convicció, especialment en l’àmbit empresarial però també en el polític i social. Necessitem crear un espai públic en què sigui possible compartir, disseminar i reconèixer experiències signiﬁ catives. Necessitem enfortir una cultura empresarial oberta al diàleg i al partenariat. Necessitem que l’agenda de la RSE es concreti en clau estrictament empresarial.

Però la societat del coneixement, organitzada en xarxes, ens obliga a replantejar la vinculació entre l’avantatge competitiu de les nacions i la riquesa ètica d’aquestes. La pregunta per la riquesa ètica de les nacions es planteja quan descobrim que són els valors els que fan possibles les pràctiques i les accions socials, siguin aquestes econòmiques, professionals, associatives o polítiques. Una nació és també un espai moral, en el qual han de ser possibles sobreviure, conviure i viure amb sentit (o, al contrari, pot ser també un espai immoral en què regni la corrupció, la injustícia i la incivilitat). La responsabilitat de la seva riquesa ètica correspon a tots els actors socials, i depèn de les pràctiques quotidianes. Por això el desenvolupament de la riquesa ètica de les nacions és la clau per explicar si ens trobem —o no— davant una societat desmoralitzada, en el doble sentit de l’expressió.

Per tant, la RSE ens porta a plantejar-nos si el nostre país és capaç de construir-se com un espai econòmic i social, perquè la RSE tracta també de com prenen posició i es diferencien les empreses i els països en un món interdependent. Potser el repte consisteix en què, en un món globalitzat, el made in Catalonia s’associï no tan sols a la qualitat dels nostres productes i serveis, sinó també a la responsabilitat, credibilitat i sostenibilitat de les nostres empreses.

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100 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos MURILLO, D

ARTÍCULOS “LA RSE EN LAS PYMES”

Documentación Social (2007), núm. 146.

SELECCIÓN DE ARTÍCULOS IIS 2007 101 Artículos 102 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos 6

La RSE en las pymes

David Murillo Bonvehí

Profesor investigador del Instituto de Innovación Social de ESADE. Licenciado en Administración y Dirección de Empresas (UB, 1996), en Humanidades (UOC, 2003) y diplomado en Sociología (UB, 2005). Actual coordinador del Área de Investigación en RSE y pyme.

Sumario

1. Una aproximación sociológica a la RSE. 2. Sentido de la RSE para las pymes. 3. Las pymes ante el discurso de la RSE. Las dinámicas públicas y el mercado. 4. Evolución de la RSE en las pymes y pautas de futuro. 5. Referencias.

RESUMEN

La empresa entendida como ente relacional ha quedado tradicionalmente apartada de los circui- tos académicos. Con todo, el discurso de la RSE permite explicar la actuación de las pymes en función del conjunto de redes sociales sobre las cuales se apoya; y la noción de capital social, comprender la razón detrás de actuaciones que desbordan la actividad estrictamente mercantil de la empresa. Encontramos aquí elementos endógenos como los valores del empresario, la mejora del clima laboral o la innovación; pero también exógenos como la presión ejercida por el mercado y los organismos públicos. Al margen de presiones externas, se muestra como la RSE es connatural a organizaciones que, a través del fortalecimiento de sus relaciones sociales, van a ver mejorar su posición competitiva en el mercado. Grandes empresas y administraciones públicas van a ter- minar por definir un modelo de RSE y por delimitar el formato y la intensidad de esta RSE en las pymes.

Palabras clave:

Responsabilidad social de la empresa; pymes; capital social; competitividad.

SELECCIÓN DE ARTÍCULOS IIS 2007 103 Artículos 6 David Murillo Bonvehí Monografía

ABSTRACT

The company, understood as a relational institution, has traditionally been sidelined from academic circuits. Nevertheless, the discourse of Corporate Social Responsibility (CSR) enables us to explain the actions of SMEs in accordance with the set of social networks which support them; and the notion of share capital helps us to understand the reasons for actions which ex- ceed the scope of the company’s strictly mercantile activity. Here we find endogenous elements such as the values of the entrepreneur, improvement of the working environment or innovation; but also exogenous factors such as pressure from the market and from public bodies. Aside from external pressures, CSR is shown to be co-natural to organisations which, through the strengthening of their social relations, will improve their competitive position in the market. Large corporations and public administrations will end up by defining a model of CSR and delimiting the format and intensity of CSR at SMEs.

Key words:

Corporate social responsibility, SMEs, share capital, competitiveness.

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1 UNA APROXIMACIÓN SOCIOLÓGICA A LA RSE Existen múltiples definiciones que tratan de acotar los márgenes difusos de la responsabilidad social de la empresa (RSE). Es este un concepto que, contra la voluntad de académicos y empresarios por igual, se querría positivo pero que en esencia no deja de ser de índole normativa. En nuestro ámbito geográ- fico más inmediato, la definición dada por la Comisión Europea es la que tal vez ha tenido un mayor éxito. Se entiende por RSE «la integración voluntaria, por parte de las empresas, de las preocupaciones sociales y medioambientales en sus operaciones comerciales y sus relaciones con sus interlocutores» (EC, 2001). Un debate alrededor del concepto que, en la inacabable lucha por la aco- tación del término, vemos también desplegarse hacia la utilización del más empresarial e inteligible «competitividad responsable y sostenible» o directamente al de «sostenibilidad» (Zadek et al., 2005). Una de las causas fundamentales para explicar el reciente auge de la RSE en el mundo académico y particularmente en el vinculado al mundo empresarial, cabe buscarla en la incapacidad perenne y manifiesta que éste ha tenido para explicar las interrelaciones entre la empresa y su entorno social (Steiner 1999, p. 4). Gran parte de esta deuda cabría imputarla a unas pautas de pen- samiento, aprendidas y repetidas en facultades de economía y escuelas de ne- gocio, según las cuales la antropología del empresario, y del individuo en general, respondería aún al modelo de homo oeconomicus neoclásico, y la empresa al ente maximizador de rentas heredado desde Samuelson. Lógicamente, con un aparato conceptual tan limitado, tan desligado de una realidad mucho más compleja, ha sido inevitable que en el momento en que la sociedad, los gobiernos e incluso los mercados han empezado a de- mandar una visión mucho más plural de las organizaciones, la teoría econó- mica tradicional haya sido desplazada por lecturas mucho más sociológicas de lo que representa este entramado de relaciones entre individuos, organizaciones y gobiernos que forma lo que conocemos por economía (para una aproxi- mación Biggart & Beamish, 2003). En este sentido, la teoría neoclásica ha obviado la existencia de conflictos de interés dentro de la empresa (Swedberg 2003, p. 75), ha marginado lecturas

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de la organización como coalición de intereses diferentes (véase la stakeholder theory de Freeman, 1984) o bien ha minorizado aproximaciones como las que nos hablan de un contrato social o de la legitimidad de la empresa para desarrollar su actividad (Donaldson, 1982). La institucionalición de la RSE en el ámbito de las organizaciones (Ackerman, 1973; Jones, 1980) o aquellas inter- pretaciones de la empresa, particularmente transnacional, como agentes políti- co o incluso como ciudadana (Davis, 1960) también han sido tradicionalmente bandeadas de los círculos académicos ortodoxos. Para la economía organizacional tradicional, siguiendo la interpretación de Swedberg (op. cit.), las relaciones sociales de los individuos son sólo una con- secuencia de este individualismo metodológico que parte de la actuación ra- cional de los individuos. Es natural pues que cuando los medios de comuni- cación, los movimientos sociales, las iniciativas legislativas e incluso los índi- ces bursarios nos hablen de RSE haya que mirar un poco más allá de la teoría económica omnipresente para entender porqué esto es así. Según la embeddedness theory (Granovetter, 1985), las acciones económicas están integradas en estructuras de relaciones sociales. El orden en el mercado, pues, reside en un conglomerado de relaciones personales y entre empresas. Relaciones que, bajo la forma de redes interpersonales generan confianza y desalientan la actuación fraudulenta de las partes. Así pues, tenemos ya confi- gurada una aproximación sociológica mediante la cual determinadas actuaciones de la empresa, actuaciones que superan su actividad estrictamente econó- mica en el sentido neoclásico, cobran sentido como fortalecimiento de sus redes relacionales. Éste sería el marco idóneo para comprender porqué las empresas, y como veremos particularmente las pequeñas y medianas empresas (pymes)(1), desarrollan actuaciones llamadas de responsabilidad social. El sentido último es éste: la mejora de sus relaciones sociales, la acumulación de capital social.

(1) Para el presente estudio se ha seguido la clasificación establecida por la Recomendación de la CE de 6 mayo del 2003 (DOC C(2003) 1442) que define pyme como aquella empresa de menos de 250 trabajadores, menos de 50 m € de facturación, un activo inferior a los 43 M € y, para evitar contemplar filiales de grandes corporaciones, como es habitual, se ha complementado con el requeri- miento de tener un capital participado por parte de empresas que no cumplan los anteriores requisitos inferior al 25%.

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Figura 1. UNA APROXIMACIÓN SOCIOLÓGICA A LA RSE COMO CAPITAL SOCIAL

Conflicto interés/ Contrato social/ stakeholder theory legitimidad de la Empresa

EMBEDDEDNESS THEORY

CAPITAL SOCIAL

Institucionalización Ciudadanía de la RSE Corporativa

Para el caso que nos ocupa, encontramos diferentes aproximaciones a la noción de capital social que nos son de utilidad. Así, Putnam (2000) define el capital social como el valor colectivo de todas las redes sociales y de las incli- naciones que de ellas surgen para hacer cosas los unos por los otros. Habla de dos componentes del capital social (CS): el bonding CS como el valor asignado a las redes sociales entre grupos de gente homogénea; y el bridging CS, equivalente entre grupos de carácter heterogéneo. Como la evidencia nos demues- tra cabe encontrar los dos tipos de capitalización en las pymes. Según Bordieu (1983) definimos CS individual como el conjunto de carac- terísticas personales que permiten al individup conseguir beneficios no sólo de mercado en sus relaciones sociales. Para Coleman (1988) son los aspectos de la estructura social que facilitan algunas acciones de los agentes dentro de la estructura. Para el Banco Mundial (1999), por último, el CS hace referencia a las instituciones, relaciones y normas que dan forma a la calidad y cantidad de las interacciones sociales en una sociedad.

2 SENTIDO DE LA RSE PARA LAS PYMES Si bien, hasta este punto, nos hemos referido a las empresas desde un pun- to de vista genérico, también es cierto que la creciente literatura específica sobre RSE tiende en los últimos años a distinguir claramente entre empresas en

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función del sector en que operan, el marco cultural que las envuelve y, tam- bién de una manera cada vez más evidente, en función de su dimensión y estructura (Moore & Spence, 2006 para una agenda de los retos). En definitiva, como resulta obvio recordar, la RSE no va a ser abordada por todas las empresas de la misma manera. La RSE desde sus orígenes surge como un elemento de debate que parte de las organizaciones sociales. Una ola que toma cuerpo en los años noventa, en pleno debate sobre el fin de la historia y las alternativas económicas a nuestro sistema económico y que eclosiona finalmente en los dos mil a partir del esta- llido de la burbuja tecnológica(2). La RSE nace pues como un planteamiento de- fensivo, principalmente de los movimientos sociales hacia las grandes corporaciones, y que se plantea en forma de interrogante o incluso de cuestiona- miento hacia sus prácticas sociales y medioambientales(3). Con todo, para el caso de las pymes, en principio alejadas del ojo público al que están sometidas las empresas más grandes, parecería que no es la pre- sión mediática la que actúa de manera decisiva para empujarles hacia la RSE. En cualquier caso, encontramos entre las Pymes actuaciones que desbordan una vez más la tradicional comprensión de la empresa como maximizadora de rentas. Las Pymes llevan de manera natural, y en algunos casos desde hace muchos años, actuaciones que cabe situar dentro del universo conceptual de la RSE (EC, 2001). Comparando estudios realizados en Gran Bretaña, Italia y en nuestro propio país (Jenkins, 2006, p. 248; Perrini, 2006, p. 311; Murillo & Lozano, 2006b, pp. 232-233) encontramos actuaciones que superan el simple cumplimiento de la ley en forma de iniciativas de formación continua, seguridad laboral, invo- lucración en proyectos para la comunidad, promoción de iniciativas cultura- les, control de impacto medioambiental, iniciativas para la inserción de ciudadanos con minusvalías físicas o psíquicas, o de comercio justo entre otras. Para lo que aquí nos interesa, es interesante mostrar que la casuística y el grado de aplicación de éstas en el tejido empresarial, allí donde se ha medido (véase Pe- rrini, op. cit.), desborda la visión estrecha y puramente economicista de las pymes como simples entes para la maximización de beneficios económicos. Diversos autores han tratado de explicarnos la razón detrás de este tipo de actuaciones, hoy en día identificadas dentro de la RSE. Las pequeñas empre-

(2) En nuestro país, cronológicamente, sería relevante destacar desde ésta época el Código Aldama de buen gobierno, la constitución de la Subcomisión de Expertos en RSE del Congreso de Diputados, la reciente publicación del libro de recomendaciones sobre RSE por parte de la citada comisión o la Ley del Fondo de Reserva de Seguridad Social, por citar los ejemplos más notables. (3) Recordar los escándalos de Nike y la mano de obra infantil en el sudeste asiático; Union Carbide y el desastre de Bophal; Enron y el fraude contable, el creciente auge de las zonas francas y del dumping social bajo el influjo globalizador... El etcétera sería bien largo.

108 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos La RSE en las pymes 6 Monografía sas, según Spence (1999) son organizaciones con poca distinción entre los roles de la gerencia y la propiedad; con cargos en la organización multitarea y pre- minentemente orientados a la solución de los problemas derivados del día a día. Empresas donde pesan especialmente las relaciones y comunicación de tipo informal y donde las relaciones interpersonales son muy importantes (también Spence & Lozano, F., 2000). Son empresas con una elevada interrela- ción con su entorno o comunidad —en la cual a menudo actúan como bene- factores o activistas locales— y mayoritariamente sometidas a dinámicas de mercado determinadas por grandes empresas, de las cuales en muchos casos son proveedoras (también Enderle, 2004).

En la pyme otro factor igualmente clave en el momento de comprender el porqué detrás de una determinada práctica de RSE es el que representan los valores del propietario-director de la empresa (Spence & Rutherfoord, 2003 y Spence, Schmidpeter, Habish, 2003 ); factor que resulta determinante para el caso de las empresas de menor dimensión (Trevino, 1986; Quinn, 1997). Spen- ce, Schmidpeter y Habish (op. cit.) señalan como es la particular dependencia del entramado de relaciones interpersonales las que acercan las pymes a la no- ción de acumulación de capital social —ver también desde la socioeconomía Granovetter (2000)—. El cultivo de las relaciones de proximidad con trabajadores y entorno social permite, según estos autores, estabilizar las expectativas en las relaciones sociales, asegurar la acción colectiva vía incremento de la confianza, formar un tipo de relaciones de «seguridad» o mutua asistencia con proveedores e incluso empresas competidoras, y facilitar, por último, informa- ción empresarial relevante para la pyme.

Para Enderle (op. cit.) es precisamente esta lucha cotidiana por la supervi- vencia en el mercado la que determina la necesidad de la Pyme de fortalecer su red de interdependencias y colaboraciones en red. Para Vyakarnam et al. (1997), las consecuencias de esta implicación social de la pyme se traducirán en reputación, imagen de profesionalidad, incrementos en el factor confianza y lealtad. Elementos todos ellos que permiten garantizar la retención de los trabajadores, la mejora en las relaciones con las entidades financieras y, en definitiva, la sostenibilidad de la empresa en el tiempo.

En este mismo sentido, el estudio de Spence (2000) y Spence & Lozano, F. (2000), pone de relieve que la motivación clave para las prácticas de responsabilidad social del pequeño empresario es la preocupación por la salud y el bienestar de sus trabajadores. En el estudio de Spence realizado para Gran Bretaña nos muestra como la ley y la posible presión por parte de los clientes serían otros elementos que empujarían la pyme a adaptar criterios sociales. Desarrollaremos estos condicionantes en el apartado siguiente.

SELECCIÓN DE ARTÍCULOS IIS 2007 109 Artículos 6 David Murillo Bonvehí Monografía LAS PYMES ANTE EL DISCURSO DE LA RSE. LAS DINÁMICAS PÚBLICAS 3 Y EL MERCADO

Por lo hasta aquí expuesto, la RSE puede mostrarse como una actuación di- ríamos intrínseca a la actividad habitual de las empresas. Tampoco cabe nin- guna duda de que el análisis de la actuación social y medioambiental de las pymes es un factor relevante a la hora de medir el peso de las implicaciones sociales y normativas en el conjunto de la actividad económica. Así, podemos ver como las pymes representan en el conjunto de la Unión Europea (UE-25) el 99,8% de las empresas censadas, dan empleo al 67,1% de los trabajadores, generan el 58,1% de los ingresos empresariales y crean el 57,3% del valor añadi- do (EC, 2006). Son pues, de largo, el pilar fundamental de la economía de la Unión tanto por número de empresas como por su importancia productiva relativa. Convencidos pues de la necesidad de valorar e incorporar las pymes en el discurso global de la RSE, conviene detenernos igualmente en los elementos que, tanto desde fuera como desde dentro de la empresa, presionan a la pyme hacia las incorporación de este tipo de prácticas en su actividad económica or- dinaria.

Diversos estudios, también desde la sociología, permiten acreditar un cambio de valores en la ciudadanía, y por ende en el trabajador, y sus efectos sobre las dinámicas empresariales. Por un lado encontramos el nuevo papel de los consumidores, no sólo preocupados por la calidad de los productos que consumen y por el impacto medioambiental de la actividad económica como ocurrió en la década de los sesenta y setenta. Consumidores que de manera creciente esperan unos estándares mínimos de calidad, también ética, en la gestión y producción de bienes y servicios y que demandan unos estándares de conducta empresarial hasta ahora ocultos a la mirada pública.

Para el caso de las pymes, resulta igualmente relevante el papel de las grandes corporaciones. Empresas que, presionadas por dinámicas de mercado que tienden a incorporar entre sus estándares de calidad elementos de RSE, se ven empujadas a trasladar de manera creciente la necesidad de contar con un mínimo de información social y medioambiental de sus empresas proveedoras. Se trata pues, en el ámbito de la gestión de la gran empresa, de incrementar los controles y la trazabilidad de los productos por ellas producidos a partir de solicitar una mayor información, también en el ámbito de la RSE, a todas las empresas que participan de su cadena de producción.

Actualmente existe ya un importante listado de certificaciones y herramientas de diverso tipo que permiten empezar a acreditar y en algunos casos gestionar la RSE de las pymes. De la misma manera que la llegada de certifi-

110 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos La RSE en las pymes 6 Monografía caciones de calidad o medioambientales contribuyó a la difusión de éstos conceptos en las dinámicas propias del mercado, algo parecido esta ocurriendo con la RSE. Con toda probabilidad, la creciente llegada de estándares que acre- diten la aplicación de este tipo de prácticas potenciará su aplicación y exten- sión(4). Fijémonos bien que esto nada indica de la calidad de este tipo de prác- ticas ni, incluso, de la veracidad de las mismas. Con todo, parece incuestiona- ble que la atención dada al tema por las grandes certificadoras internacionales va a atener consecuencias en su aplicación. Por otro lado, aunque el papel de los medios de comunicación a la hora de convertir la RSE en un tema caliente de gestión empresarial, como hemos dicho hasta aquí, no atañe por igual a grandes y pequeñas empresas, también es cier- to que las pymes no son ajenas a este proceso de popularización del término. La RSE es un concepto que, difundido de manera creciente, ha empezado ya a plantearse no sólo a grandes empresas transnacionales sino que cada vez más abarca al ámbito de la gestión pública, el de las organizaciones no lucrativas, y obviamente también a las pymes. En este sentido, el papel difusor de la RSE por parte de las administraciones públicas está jugando un rol muy importante en la difusión del concepto. La RSE, puede afirmarse con claridad, ha entrado ya a formar parte de las agendas políticas de los gobiernos (Lozano et al., 2005 para el caso de la Unión Europea) y de manera creciente su discurso está llegando al segmento de pymes (para una muestra significativa EC, 2007). En el ámbito de la UE, los Acuerdos de Lisboa del Consejo Europeo del año 2000, pasando por la publi- cación del Libro Verde (EC, 2001) y las diferentes comunicaciones que abordan la RSE, demuestran que actualmente también la RSE es uno de los ámbitos de trabajo de los órganos comunitarios. Aunque desde una fecha más reciente, también desde la administración pública, en el Estado español, se han llevado a cabo iniciativas y actuaciones concretas que tratan de crear un marco propicio al desarrollo de la RSE. Cabe aquí destacar el informe de la Subcomisión del Congreso de los diputados sobre la RSE, la constitución de la Comisión de Expertos en RSE o la puesta en marcha de la mesa de Diálogo de RSE en el marco de los procesos de diálogo social auspiciados por el Ministerio de Trabajo. Por último, sirva como ejemplo a nivel de comunidad autónoma el caso de Catalunya, con la inclusión de la promoción de la RSE entre las funciones de la Generalitat en el nuevo Estatuto de Autonomía del 2006 (véase art. 45(5))ola

(4) Es el caso de la futura norma ISO 26.000 de RSE, anunciada para el año 2009, y que aparecerá al lado de la ya vigente familia de normas de calidad (ISO 9.000) o medioambiente (ISO 14.000). (5) http://www.gencat.net/generalitat/cas/estatut/titol_1.htm

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inclusión de éste concepto entre los elementos a potenciar en el marco de los acuerdos de competitividad alcanzados en el año 2005 entre la administración, patronales y sindicatos (medida 75 del Acuerdo Estratégico). Una medida que insta a las partes a promover un modelo de competitividad responsable y sostenible.

Figura 2. PRESIONES AL FORTALECIMIENTO DE LAS REDES SOCIALES DE LA EMPRESA

Internas Externas

— Valores del empresario — Medios comunicación

— Clima laboral y retención de trabajadores — Grandes empresas

— Oportunidades de mejora productiva — Administración pública

— Innovación y mejora en la gestión — Consumidores

Si nos centramos en los elementos intrínsecos que desde la empresa impulsan la RSE, tal y cómo la abundante literatura existente pone de manifies- to, aparecen factores que mueven a la pyme en este sentido. La mejora del clima laboral, las oportunidades de mejora productiva, la retención y motivación de los empleados y, entre otros, elementos de innovación o diferenciación respecto a la competencia, sobresalen como elementos que acercan la pyme hacia el ejercicio de su RSE. Factores que, junto a los valores éticos del nivel gerencial, se manifiestan como elementos centrales para hablar de la existencia de un business case, de una razón estrictamente empresarial para avanzar en la RSE (Forética, 2006, p.16), particularmente en el caso de las pymes (recientemente Jenkins, 2006; Murillo y Lozano, 2006a y 2006b y Murillo & Dinarès, 2007). Ele- mentos que, todos ellos, vendrían a formar una «lluvia fina» que permiten que hablemos con propiedad de un giro de la RSE hacia las empresas de dimen- sión más reducida.

4 EVOLUCIÓN DE LA RSE EN LAS PYMES Y PAUTAS DE FUTURO Trazar una previsión de la evolución futura de la RSE en el conjunto de las pymes implica desgranar los elementos arriba visitados. Con todo, podríamos definir la ejecución de este tipo de actuaciones como el intento, por parte de estas empresas, de aunar prácticas con pleno sentido económico o incluso economicista con otras que cabría enmarcar dentro de lo moral o normativo. La RSE, tal y como se ha presentado hasta aquí, es también una manera de inte-

112 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos La RSE en las pymes 6 Monografía grar actuaciones encaminadas a mejorar la posición competitiva de la empresa en el mercado. Desde esta aproximación, la RSE no es otra cosa que la integración dentro del funcionamiento de la empresa de su dimensión relacional o social. Preten- der disociar, como la teoría económica dominante ha venido haciendo hasta ahora, el ámbito social y relacional de la empresa con su vertiente estrictamente productiva y de prestación de bienes y servicios, implica reducir nuestra capacidad de comprensión de que es la empresa y, sobretodo, porqué ésta actúa como actúa. La RSE, tanto como modelo teórico como incluso como disciplina, permite pues reunir lo que en la vida real nunca estuvo separado y, fundamentalmente, ponerle un nombre. Esa es la principal aportación de la RSE al debate económico. Como podemos observar en diversos estudios, los principales responsables de pymes, de una manera muy mayoritaria responden afirmativamente a la pregunta de si llevan acabo actuaciones de RSE (Observatory of European SMEs, 2002). Bajo un concepto de márgenes difusos, como no podía ser de otro modo, se muestra que la actuaciones sociales y medioambientales de las pymes no son nada ajeno a lo que las empresas ya hacen o pueden llevar a cabo (Murillo & Lozano, 2006b). La gran diferencia con las grandes empresas es su motivación proactiva, su vinculación a prácticas de competitividad o de innovación que, en el común de los casos, no hacen otra cosa que mejorar su posicionamiento en el mercado. Una vez más, a diferencia de las grandes corporaciones, sometidas de manera permanente a la auscultación social y medioambiental por parte de organismos reguladores, medios de comunicación, movimientos ciudadanos y agentes sociales, el acercamiento de la RSE y su tipo de aplicación en las pymes no depende de manera principal a factores externos a la misma. Entre las motivaciones que se han señalado, una vez más, diferentes estudios citan como el factor decisivo para su implementación el perfil ético del empresario (véase Fundación Etnor, 2000, aplicado al País Valenciano). Este hecho responde a una lógica que aquí bien podríamos hablar como de exclusivamente organizacional. A diferencia de las grandes corporaciones sometidas a órganos de gobierno compartido y con un peso muy importante de la representación accionarial en la gestión, es en las pymes donde el empresario tiene una mayor libertad de actuación pues acostumbra a concentrar la ma- yoría de la propiedad de la empresa. En qué medida esta involucración social y medioambiental se acentuará o no, y cual será el grado de aplicación real en la pyme, dependerá del resulta-

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do de diferentes tipos de fuerzas que operan conjuntamente sobre la empresa. Por un lado, debemos seguir considerando como principal la actuación y con- cienciación del empresario como ciudadano e individuo cargado de un equi- pamiento moral propio. En la medida en que el presente discurso de la RSE pase a ser un concepto socialmente validado, que supere la imagen de ser una herramienta de marketing de las grandes empresas y sea reconocido por el conjunto de agentes económicos, podremos decir que quedará definitivamen- te legitimado no sólo ante los trabajadores sino también ante los pequeños y medianos empresarios. En este sentido, temas como el de la flexibilidad laboral, la conciliación de la vida laboral-familiar y los cambios en los modelos de valoración y satisfacción de los trabajadores hacia sus puestos de trabajo, permiten avanzar que una gran parte del recorrido hacia la RSE, si más no en su vertiente interna, ya se está llevando a cabo. Será necesario igualmente analizar el desarrollo de herramientas de ges- tión de RSE pensadas especialmente para pymes para estudiar su nivel de uso en el futuro. Como diversos estudios señalan (EC, 2007; Murillo & Lozano, 2007, unpublished) sin herramientas de gestión que permitan la medición, el contraste y la validación empresarial de determinadas prácticas, la RSE que- dará siempre en el reino de lo intangible y etéreo, una queja que sobresale aún entre empresarios de pyme (Murillo et al., 2006). Como sabemos, la escasa de- partamentalización de las pymes y la orientación multitarea de los puestos de trabajo (Spence, 1999, op cit.) nos avanzan que nunca el uso de instrumentos de gestión sofisticados va a alcanzar el nivel de las empresas más grandes, con todo, la existencia de estas herramientas es un prerrequisito para su utilización efectiva. Por último, la acumulación de capital social entendida tal y como hemos defendido aquí como aproximación al concepto de RSE en las pymes, no va a dejar de llevarse a cabo con independencia del éxito o fracaso comercial del término (este es el análisis que también hace Pollit, 2002, p. 126). Aunque es cierto que la popularización del concepto, su legitimidad social y su creciente uso no sólo en el ámbito académico sino estrictamente económico, van ha jugar un papel importante en la toma de conciencia que tenga la propia empresa como ente social y relacional. Para algunas empresas, la gran mayoría de ellas pequeñas o microempresas(6), la RSE continuará siendo un concepto aleja- do. Para otras, particularmente para aquellas en vías de crecimiento hacia una mayor dimensión, las dinámicas estrictamente mercantiles van a llevarlas a integrar unos elementos directamente relacionados con la retención de trabajadores, la innovación, la mejora de las relaciones con clientes o comunidad, o la imagen de marca.

(6) Una vez más siguiendo la clasificación dada por la Comisión Europea.

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Dicho de otro modo, las pymes no dejarán de relacionarse con su entorno, de fortalecer sus redes sociales y mejorar en la creación de marcos de confianza indispensables para la existencia misma del mercado. Lo que sí puede hacer la RSE es ponerle un nombre a todo ello, aumentar el grado de concienciación de la importancia intrínseca de estos elementos para la empresa y, por encima de todo, validar y popularizar todo un ámbito de actuaciones hasta el momento minorizado por el corpus teórico principal de la disciplina. En este sentido, será el grueso de las pymes, precisamente de- bido a su menor dimensión y mayor flexibilidad, las que mayor partido puedan sacarle a este concepto, también desde una lógica estrictamente empresarial.

5 REFERENCIAS ACKERMAN, Robert W. «How Companies Respond to Social Demands». HARVARD BUSINESS REVIEW, 1973, n.º 51(4), pp. 88-98. BANCO MUNDIAL. «What is Social Capital?». 1999, PovertyNet. http://www.world- bank.org/poverty/scapital/whatsc.htm BIGGART, Nicole W. & Thomas BEAMISH. «The economic sociology of conventions: habit, custom, practice and routine in market order». ANNUAL REVIEW OF SO- CIOLOGY, 2003, n.º 29, pp. 443-464. BOURDIEU, Pierre. Forms of capital. En J. C. Richards (ed.) Handbook of Theory and Research for the Sociology of Education, New York: Greenwood Press. 1983. COLEMAN, James S. «Social capital in the creation of human capital». AMERICAN JOURNAL OF SOCIOLOGY, 1988, n.º 94, pp. S95-S120. DAVIS, Keith. «Can Business Afford to Ignore Corporate Social Responsibility?» CA- LIFORNIA MANAGEMENT REVIEW, 1960, n.º 2, pp. 70-76. DONALDSON, Thomas. Corporations and Morality. New Jersey: Prentice-Hall. 1982. ENDERLE, Georges. «Global competition and corporate responsibilities of small and medium-sized enterprises». BUSINESS ETHICS: A EUROPEAN REVIEW, 2004, n.º 13(1), pp. 51-63. EUROPEAN COMMISSION. Promoting a European framework for corporate social responsibility - Green Paper. Luxembourg: Office for Official Publications of the European Communities, 2001. COM (2001) 366. EUROPEAN COMMISSION. Opportunity and Responsibility. How to help more small business to integrate social and environmental issues into what they do. DG Enterprise and Industry, 2007. http://ec.europa.eu/enterprise/csr/documents/ree_report.pdf

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FORÉTICA. Informe Forética 2006. Evolución de la Responsabilidad Social de las Empresas en España, 2006. http://www.foretica.es/imgs/foretica/informe_foretica2006.pdf FREEMAN, R. Edward. Strategic Management: A stakeholder Approach. Boston: Pitman, 1984. FUNDACIÓN ETNOR. La dimensión ética de la cultura empresarial en la Comunidad Va- lenciana, 2000, ÉTNOR – Economía 3. GRANOVETTER, Mark. «Economic Action, Social Structure, and Embeddedness». AMERICAN JOURNAL OF SOCIOLOGY, 1985, n.º 91(3), pp. 481-510. GRANOVETTER, Mark. «The Economic Sociology of Firms and Entrepreneurs». En Richard Swedberg (ed.), Entrepreneurship: The Social Science View. Oxford: Oxford University Press, 2000, pp. 244–275. JENKINS, Heledd. «Small Business Champions for Corporate Social Responsibility». JOURNAL OF BUSINESS ETHICS, 2006, n.º 67(3), pp. 241-256. JONES, Thomas M. «Corporate Social Responsibility Revisited, Redefined». CALI- FORNIA MANAGEMENT REVIEW, 1980, n.º 22(2), pp. 59-67. LOZANO, Josep M.; ALBAREDA, Laura; YSA, Tamyko; ROSCHER, Heike, y MAR- CUCCIO, Manila. Los gobiernos y la responsabilidad social de las empresas. Políticas pú- blicas más allá de la regulación y la voluntariedad. Barcelona: Granica, 2005. MOORE, Geoff, y SPENCE, Laura. «Editorial: Responsibility and Small Business». JOURNAL OF BUSINESS ETHICS, 2006, n.º 67(3), pp. 219-226. MURILLO, David, y DINARÈS, Marta. La medición de la RSE en las Pymes. Un estudio de caso. Artículo presentado en la Conferencia de EBEN-España, IESE, 8 de junio, 2007. MURILLO, David; ESPANYÓ, Jordi, y LOZANO, Josep M. La Responsabilitat Social de l’Empresa vista des de les Pimes, 2006. Informe disponible en: http://itemsweb.esade.es/wi/research/iis/RSE_PIMES/Text_Imatges_Cat/LR1_Analisi_Percepcions_ RSE_Pimes_CAT.pdf MURILLO, David, y LOZANO, Josep M. (eds.). RSE y Pymes: Una apuesta por la exce- lencia empresarial. Barcelona. ESADE, 2006a. MURILLO, David, y LOZANO, Josep M. «SMEs and CSR: An approach to CSR according to their own words». JOURNAL OF BUSINESS ETHICS, 2006b, n.º 67(3), pp. 227–240. — «Pushing forward SME CSR through a network: An account from the Catalan model». BUSINESS ETHICS: A EUROPEAN REVIEW, 2007 Pendiente de publicación. OBSERVATORY OF EUROPEAN SMES. European SMEs and social and environmental responsibility. Luxembourg: Office for Official Publications of the European Com- munities, 2002.

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PERRINI, Francesco. «SMEs and CSR Theory: Evidence and Implications from an Ita- lian Perspective». JOURNAL OF BUSINESS ETHICS, 2006, n.º 67(3), pp. 305-316. The Economics of Trust, Norms and Networks. POLLITT, Michael. «The Economics of Trust, Norms and Networks». BUSINESS ETHICS: A EUROPEAN REVIEW, 2002, n.º 11, pp. 119-128. PUTNAM, Robert. Bowling alone: The collapse and revival of American community. New York: Simon & Schuster, 2000. QUINN, John. «Personal Ethics and Business Ethics: The Ethical Attitudes of Ow- ner/Managers of Small Business». JOURNAL OF BUSINESS ETHICS. 1997, n.º 16(2), pp. 119–127. SPENCE, Laura. Does size matter? The state of the art in small business ethics. BUSI- NESS ETHICS A EUROPEAN REVIEW, 1999, n.º 8(9), pp. 163-172. — «Towards a Human Centred Organisation: The Case of The Small Firms». Presen- tación en la 3rd Conference on Ethics in Contemporary Human Resources Manage- ment, Imperial College, London, 7 Enero 2000. SPENCE, Laura, y LOZANO, Félix. «Communicating about ethics with small firms: Experiences from the UK and Spain». JOURNAL OF BUSINESS ETHICS, 2000, n.º 27(1), pp. 43-53. SPENCE, Laura, y RUTHERFOORD, Robert. «Small Business and Empirical Perspec- tives in Business Ethics». Editorial. JOURNAL OF BUSINESS ETHICS, 2003, n.º 47(1), p. 1. SPENCE, Laura; SCHMIDPETER, René, y HABISCH, André. «Assessing Social Capi- tal: Small and Medium Sized Enterprises in Germany and the UK». JOURNAL OF BUSINESS ETHICS, 2003, n.º 47 (1), pp. 17-29. STEINER, Philippe. La sociologie économique. París: La découverte, 1999. SWEDBERG, Richard. Principles of Economic Sociology. Princeton: Princeton University Press, 2003. TREVINO, Linda K.: «Ethical Decision Making in Organisations». ACADEMY OF MA- NAGEMENT REVIEW, 1986, n.º 11(3), pp. 601-617. VYAKARNAM, Shailendra; BAILEY, Andy; MAYERS, Andrew, y BURNETT, Donna. «Towards an Understanding of Ethical Behaviour in Small Firms». JOURNAL OF BUSINESS ETHICS, 1997, n.º 16(15), pp. 1625-1636. ZADEK, Simon; RAYNARD, Peter; OLIVEIRA, Cristiano; NASCIMENTO, Edna, y TE- LLO, Rafael. Responsible competitiveness. Reshaping Global Markets through responsible business practices. London. Accountability, 2005.

SELECCIÓN DE ARTÍCULOS IIS 2007 117 Artículos 118 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos EQUIPO HUMANO

El equipo del Instituto está formado por personas expertas en áreas de la responsabilidad social empresarial, el liderazgo y la gestión de las ONG. Contamos con una amplia red de colaboradores: profesores, investigadores, doctorandos, becarios y profesionales de diferentes sectores de actividad.

Equipo directivo

Ignasi Carreras Director del Instituto y profesor del departamento de Política de Empresa de ESADE. Miembro del Board internacional del Global Reporting Initiative (GRI). Ex-director general de Intermón Oxfam.

Daniel Arenas Responsable de Investigación del Instituto y profesor del departamento de Ciencias Sociales de ESADE. Miembro de la junta directiva de la European Academy for Business in Society (EABIS).

Josep Maria Lozano Investigador Senior en RSE y profesor del departamento de Ciencias Sociales de ESADE. Miembro del comité académico internacional del Global Compact, cofundador de Ética, Economía y Dirección; miembro del consejo internacional de Ethical Perspectives y de Society and Business Review, entre otras fundaciones y asociaciones.

Alfred Vernis Responsable de Formación del Instituto, representante en la Social Entreprise Knowledge Network (SEKN) y es profesor titular del Departamento de Política de Empresa y del Instituto de Dirección y Gestión Pública de ESADE. Miembro del Patronato de la Fundació Catalana de l’Esplai (Barcelona), del Consejo Social del Grupo Inditex y fundador del programa Alumni Solidario de ESADE Alumni.

Sonia Navarro Responsable de la gestión y divulgación del Instituto. Licenciada en Ingeniería de Comunicaciones y Electrónica por la Universidad de Northumbria (Reino Unido) y MBA (FT 01) y FGONG (07) por ESADE. Fundadora del programa Alumni Solidario de ESADE Alumni.

SELECCIÓN DE ARTÍCULOS IIS 2007 119 Equipo Humano Investigadores

Laura Albareda Licenciada en Filología y en Ciencia Política y de la Administración. Máster en Estudios de Desarrollo. Doctoranda en relaciones internacionales e integración europea. Sus líneas de investigación son la RSE y las políticas públicas, el diálogo multistakeholder, la gobernanza global, la ética empresarial, y la inversión socialmente responsable.

Charo Balaguer Licenciada en Administración y Dirección de Empresas y doctora en Gestión Empresarial por la Universidad Jaume I (Castellón). Profesora de Economía Financiera en la Universidad Jaume I. Su investigación se centra en la contribución de las ﬁ nanzas y las microﬁ nanzas al desarrollo sostenible.

Itziar Castello Licenciada en Ciencias Económicas y Empresariales por la Universidad de Valencia y máster en Economía Europea por la Universidad de Nantes (Francia). Además, posee un Máster en Economía Europea por el Colegio de Europa (Bélgica) y ha realizado un Executive MBA en ESADE. Investiga sobre RSE en su relación con la estrategia de las empresas.

Mar Cordobes Licenciada y Máster en Administración y Dirección de Empresas por ESADE. Licenciada en Historia del Arte por la Universidad de Barcelona. Su trabajo se centra en la cooperación y la gestión cultural. Ha creado VIA, asociación para impulsar el turismo sostenible.

Marta Dinares Licenciada en Administración de Empresas. Consultora independiente y colabora con el Instituto de Innovación Social en investigaciones sobre RSE.

Maria Iglesias Licenciada y máster en Dirección y Administración de Empresas por ESADE y máster CEMS. Especializada en gestión de organizaciones no lucrativas. Se ha centrado en el desarrollo y el análisis de instrumentos de evaluación y seguimiento de impacto de las ONG.

120 SELECCIÓN DE ARTÍCULOS IIS 2007 Equipo Humano Sophia Kusyk Licenciada en Administración de Empresas en la University of Western Ontario (Canadá). Está realizando su tesis doctoral en ESADE-Universidad Ramon Llull sobre RSE. Ha sido directora del track de la RSE en EABIS (2007).

David Murillo Licenciado en ADE (UB, 1996) y en Humanidades (UOC, 2003). Diplomado DEA en Sociología (UB, 2005). Investigador del Instituto desde 2002 y profesor asistente del Departamento de Ciencias Sociales de ESADE desde 2004. Actualmente coordina la línea de investigación sobre RSE u pymes en el instituto.

Maria Prandi Licenciada, máster y DEA en Relaciones Internacionales (UAB). Coordina la línea de investigación sobre empresa y derechos humanos en el Instituto de Innovación Social. Ha sido consultora en diferentes instituciones sobre temas de derechos humanos.

Pablo Rodrigo Licenciado en Ciencias de la Administración e ingeniero comercial por la Universidad Adolfo Ibáñez (Chile). DEA en Management Sciences y candidato a doctor en Management Sciences por ESADE-URL.

Beatriz Sanz Licenciada y máster en Administración y Dirección de Empresas por ESADE, licenciada en Antropología Social y máster en Gestión del Desarrollo por la London School of Economics. Ha trabajado en diversos organismos internacionales y ONG. Trabaja como consultora independiente en cooperación.

Maria Sureda Licenciada y Master en Administración y Dirección de Empresas en ESADE- Universidad Ramon Llull. Colaboradora en la investigación sobre RSE. Ha participado en diferentes proyectos de investigación sobre el sector no lucrativo en el marco del Observatorio del Tercer Sector.

Marc Vilanova Licenciado en Ciencias Económicas por la Shepherd University y DEA en Ciencias del Management en URL-ESADE. Investigador principal de la línea sobre competitividad responsable. Cuenta con diversas publicaciones en el campo de la RSE, la competitividad responsable, la accountability, la gestión de stakeholders y la sostenibilidad. Profesor asistente del Departamento de Ciencias Sociales de ESADE.

Durante el año 2007 el Instituto contó con la presencia del Prof. Steen Vallentin, de la Copenhagen Business School como profesor invitado.

SELECCIÓN DE ARTÍCULOS IIS 2007 121 Equipo Humano 122 SELECCIÓN DE ARTÍCULOS IIS 2007 Equipo Humano SELECCIÓN DE ARTÍCULOS IIS 2007 123 Equipo Humano 124 SELECCIÓN DE ARTÍCULOS IIS 2007 Artículos Barcelona Instituto Av. Pedralbes, 60-62 de Innovación Social 08034 España

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2007 SELECCIÓN 2 DE ARTÍCULOS 0 0 7 SELECCIÓN DE ARTÍCULOS Instituto de Innovación Social de ESADE Promotores del Instituto de Innovación Social:

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