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Book part
Publication date: 7 July 2014

Ben Jacobsen

Socially responsible investment (SRI) engagement currently performs a variety of supportive regulatory functions such as reframing norms, establishing dialogue and providing…

Abstract

Purpose

Socially responsible investment (SRI) engagement currently performs a variety of supportive regulatory functions such as reframing norms, establishing dialogue and providing resources to improve performance, however corporate responses are voluntary. This chapter will examine the potential gains in effectiveness for SRI engagement in a responsive regulatory regime.

Approach

Global warming is a pressing environmental, social and governance (ESG) issue. By using the example of climate change the effectiveness of SRI engagement actors and the regulatory context can be considered. This chapter builds the conceptual framework for responsive regulation of climate change.

Findings

SRI engagement may face resistance from corporations due to its voluntary nature and conflict with other goals. Legitimacy and accountability limit the effectiveness of SRI engagement functioning as a voluntary regulatory mechanism. This chapter argues that the effectiveness of SRI engagement on climate change could be enhanced if it served as part of a responsive regulation regime.

Practical implications

Engagement is used by SRIs for ESG issues. A comprehensive regulatory regime could enhance corporate adaptation to climate change through increasing compliance with SRI engagement. The implication for SRI practitioners is that lobbying for a supportive regulatory regime has a large potential benefit.

Social implications

Responsive regulatory policy involves both support and sanctions to improve compliance, enhancing policy efficiency and effectiveness. There are potentially large net social benefits from utilising SRI engagement in a regulatory regime.

Originality of chapter

In seeking to re-articulate voluntary and legal approaches this research addresses a gap in the literature on climate change regulation.

Details

Socially Responsible Investment in the 21st Century: Does it Make a Difference for Society?
Type: Book
ISBN: 978-1-78350-467-1

Keywords

Book part
Publication date: 28 December 2013

Bettina Lange

This article starts from the assumption that economic sociology, including Karl Polanyi’s work, can contribute fresh perspectives to regulation debates because it opens up new…

Abstract

This article starts from the assumption that economic sociology, including Karl Polanyi’s work, can contribute fresh perspectives to regulation debates because it opens up new understandings of the nature of economic activity, a key target of legal regulation. In particular this article examines Polanyi’s idea that society drives regulation. For Polanyi the “regulatory counter-movement” is society’s response to the disembedding – in particular through the proliferation of markets – of economic out of social relationships. Section One of the article identifies three key challenges that arise from this Polanyian take on regulation for contemporary regulation researchers. First, Polanyi focuses on social norms restraining business behavior, but neglects social norms embedded in law as also shaping regulation. Second, he seems to imply a clear-cut conceptual distinction between “economy” and “society.” Third, his analysis sidelines the role of interest politics in the development of regulation.

Addressing the first of these three key challenges, Section Two of this article therefore argues that a Polanyian vision of “socialized” legal regulation should build on contemporary accounts of responsive law and regulation, which focus attention on social norms informing legal regulation. Section Three of this article tackles the second key challenge raised by Polanyi’s work for contemporary regulation researchers, that is, how to transcend a modernist perspective of “economy” and “society” as clearly demarcated, distinct fields of social action. It argues that discourse theory is an important alternative theoretical resource. Drawing on Laclau and Mouffe, the article suggests that understanding “economy” and “society” as performed by open and relationally constructed discourses helps to capture interconnections between “economy” and “society” that become particularly visible when we analyze how specific regulatory regimes work at a medium- and small-scale level. These points are further brought to life in Section Four through a discussion of the European Union (EU) regulatory regime for trade in risky, transgenic agricultural products, and in particular the current reform debates about the consideration of the “socioeconomic impacts” of such products.

Details

From Economy to Society? Perspectives on Transnational Risk Regulation
Type: Book
ISBN: 978-1-78190-739-9

Keywords

Abstract

Details

A Neoliberal Framework for Urban Housing Development in the Global South
Type: Book
ISBN: 978-1-83797-034-6

Article
Publication date: 1 February 1994

H.G. van de Bunt

Corporate crimes are crimes committed in the course of otherwise legitimate working procedures in respectable organisations. Although corporate crimes can cause many forms of…

Abstract

Corporate crimes are crimes committed in the course of otherwise legitimate working procedures in respectable organisations. Although corporate crimes can cause many forms of physical, moral and financial damage, in practice the administration of criminal justice is rather lenient. Should the harmful behaviour of corporations be curbed by the intensification of criminal justice? In this paper the author rejects this option. He prefers fostering the social responsiveness of organisations, i.e. strengthening the ability of organisations to comply with existing social expectations. Responsive means that these expectations are properly assessed and are taken into account in the decision‐making. The author specifies two conditions which determined the extent of responsiveness and proposes several strategies for responsive regulation. Responsive regulation is based upon negotiation and persuasion. Only in this context can penal sanctions be effective; responsive regulation in the shadow of criminal law.

Details

Journal of Financial Crime, vol. 2 no. 1
Type: Research Article
ISSN: 1359-0790

Article
Publication date: 1 December 2003

Brenda E. Morrison

This paper will introduce a whole‐school approach to regulating safe school communities, based on principles of restorative justice. The idea is to move beyond regulatory…

2757

Abstract

This paper will introduce a whole‐school approach to regulating safe school communities, based on principles of restorative justice. The idea is to move beyond regulatory formalism to a stance of response regulation, whereby the needs of the school community can be better met. The approach will incorporate a continuum of practices across three levels of regulation. The primary level of intervention targets all students, with an aim to develop students’ social and emotional competencies, particularly in the area of conflict resolution. This first stage aims to enable students to resolve their differences in caring and respectful ways. The secondary level of practices involves a larger number of participants in the resolution of the conflict or concern, as the problem has become protracted or has involved (and affected) a larger number of people. The tertiary level of intervention involves the participation of an even wider cross‐section of the school community, including parents, guardians, social workers, and others who have been affected. This intervention is typically used for serious incidents within the school, such as acts of serious violence. At each level, the processes involved are based on principles of restorative justice, such as inclusive and respectful dialogue. The aim is to build safe school communities through being more responsive and more restorative.

Details

Journal of Educational Administration, vol. 41 no. 6
Type: Research Article
ISSN: 0957-8234

Keywords

Article
Publication date: 16 March 2010

Stanford Levin and Stephen Schmidt

The purpose of the paper is to explore the remaining aspects of telecommunications service that might require continued economic and technical regulation even after competition is

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Abstract

Purpose

The purpose of the paper is to explore the remaining aspects of telecommunications service that might require continued economic and technical regulation even after competition is present to the maximum extent feasible. The paper further explores the regulatory institutions and practices that will best accomplish this required regulation.

Design/methodology/approach

The paper evaluates the traditional choices between a sector‐specific regulator and a competition authority, as well as ex post and ex ante regulation. In addition, the paper evaluates less traditional methods of regulation including laws of general application, such as consumer protection laws, alternative dispute resolution mechanisms, and self‐regulation. The characteristics of each of these means of regulation are identified, and, following a set of principles, the regulatory institutions and practices are matched to the areas of telecommunications requiring regulation.

Findings

The paper identifies five areas of telecommunications that will likely require continuing regulation and matches a regulatory institution or practice to each of the five areas of regulation. These five areas are retail regulation of local services in rural and remote areas with insufficient competition for forbearance, interconnection of competing networks and essential facilities, duty to serve (carrier of last resort and obligation to serve), subsidies for high‐cost or low‐income customers, and social regulation such as emergency service and message relay obligations.

Originality/value

Previous studies have not focused on the need for continuing regulation after competition develops to the maximum extent feasible. Also, studies typically consider the limited framework of a sector‐specific regulator or a competition authority and do not consider the other regulatory options or institutions available.

Details

info, vol. 12 no. 2
Type: Research Article
ISSN: 1463-6697

Keywords

Article
Publication date: 1 October 1997

Roger L Burritt and Stephen Welch

Takes an exploratory approach to the development of an accountability framework for environmental performance of the Australian Commonwealth public sector. Explains that the aim…

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Abstract

Takes an exploratory approach to the development of an accountability framework for environmental performance of the Australian Commonwealth public sector. Explains that the aim of the environmental performance accountability framework is for the various stakeholders to understand the actions of Commonwealth public sector organizations and consequences of those actions for ecological systems; to become familiar with the trends and changes in trends in public sector environmental performance; and to place stakeholders in a position to promote change when performance is not acceptable. Examines three interrelated strands of literature. Identifies key institutional stakeholders in the Commonwealth public sector. Synthesizes the literature related to public sector transformation, and reviews the flourishing literature on environmental accounting and reporting, and links it to the concept of environmental accountability. Drawing on this literature, explores interrelationships between three characteristics of environmental performance at the federal level in the Australian public sector: criticality of natural capital; information uncertainty; and regulatory response. Examines environmental accountability dimensions of each of these characteristics. Concludes by making three policy recommendations: first, measurement of environmental performance should focus on criticality of natural capital and informational uncertainty as bounded by the precautionary principle; second, the measures of criticality of natural capital and informational uncertainty should determine the extent of direct accountability to parliament for each public sector organization’s environmental performance; and, finally, a third party attestation of reported information is needed. Also makes some suggestions for extending this exploratory research.

Details

Accounting, Auditing & Accountability Journal, vol. 10 no. 4
Type: Research Article
ISSN: 0951-3574

Keywords

Open Access
Article
Publication date: 4 April 2022

Slobodan Tomic and Eva Heims

Reflecting on recent empirical developments as well as insights from regulatory state theory, the paper considers directions in which the regulatory state could develop in the…

1177

Abstract

Purpose

Reflecting on recent empirical developments as well as insights from regulatory state theory, the paper considers directions in which the regulatory state could develop in the post-COVID-19 era.

Design/methodology/approach

This is a de-contextualised analysis of regulatory developments drawing on the prior regulatory state literature and literature on post-crisis responses. Taking into account recent empirical developments related to the COVID-19 pandemic, the paper sets out, in a comparative context, scenarios for the future development of the regulatory state.

Findings

Predicting the direction in which the regulatory state will develop is challenging, particularly at this early stage. Yet, we provide a conceptual framework for thinking about possible futures of the regulatory state and how domestic and international factors might mediate these futures.

Originality/value

The paper provides a structured approach to the analysis of the regulatory state bringing together insights from the literature on the regulatory state, public management reform, and global regulatory shifts.

Details

Fulbright Review of Economics and Policy, vol. 2 no. 1
Type: Research Article
ISSN: 2635-0173

Keywords

Article
Publication date: 1 March 2017

Cary Christian

In this study, targeted interventions were applied in a natural quasi-experimental setting to taxpayers engaged in sales tax theft and evasion to gauge both the direct and…

Abstract

In this study, targeted interventions were applied in a natural quasi-experimental setting to taxpayers engaged in sales tax theft and evasion to gauge both the direct and indirect impacts of a responsive regulation approach to compliance enforcement. The approach adopted included substantial engagement with targeted businesses and deferral of more punishing forms of deterrence based on the target's level of cooperation and effort to return to and maintain compliance. Results were was found to be 2.17:1. Additionally, the impact of the targeted responsive regulation interventions greatly exceeded the results obtained in deterrence-only control groups in terms of tax assessments compared to multiple control groups to determine the indirect impact of the interventions and to compare the responsive regulation approach to traditional deterrence-only enforcement results. The indirect versus direct impact of the targeted responsive regulation enforcement regimen overall and assessment per dollar of cost ($322.19 vs. $5.21).

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 29 no. 4
Type: Research Article
ISSN: 1096-3367

Book part
Publication date: 29 February 2008

Nathan Harris and Jennifer Wood

This chapter is interested in the challenge of governing beyond crime, surveillance and control. It argues for the need to re-imagine the governance of security in ways designed…

Abstract

This chapter is interested in the challenge of governing beyond crime, surveillance and control. It argues for the need to re-imagine the governance of security in ways designed to both build and enrol the capacities of different actors. The authors draw on regulatory theory and the ideas developed in the areas of ‘responsive regulation’ and ‘nodal governance’ to explore the opportunities for, and the challenges associated with designing governance institutions and processes that serve to de-centre hierarchy, command and interventionism as essential rationalities and practices. Its empirical focus is on the case of child protection, where the authors argue for the importance of nurturing the capacities of families and communities to govern both beyond and in tandem with hierarchical modalities. It is hoped that the theoretical issues raised and the agenda articulated can be engaged with across a variety of empirical domains.

Details

Surveillance and Governance: Crime Control and Beyond
Type: Book
ISBN: 978-0-7623-1416-4

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