Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis: Enabling Sustainability through Executive Remuneration and Reward Strategy

Chibuzo Jiten Ejiogu, Claire. E Ozoh, Chioma. A Ejiogu

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

In spite of the potential synergies and mutual interdependence of corporate governance and Corporate Social Responsibility (CSR), they have developed and been practiced independently of each other. The Global Financial Crisis gone some way in highlighting this disparity and has placed executive remuneration, especially in the financial services sector, in the public spotlight amid calls for reform and more effective regulation. This requires a new way of approaching executive remuneration and the overall organizational reward strategy.

This chapter analyzes corporate governance and CSR, highlighting areas of
convergence and divergence; explores the benefits and synergies derivable from integrating both corporate practices; discusses the different models used to achieve an integration of corporate governance and CSR; it positions CSR and corporate governance in relation to the Global Financial Crisis and to executive remuneration practices. Executive remuneration is explored in light of the financial crisis and consideration is given to the rationale for approaching executive compensation through the integration of CSR and corporate
governance. A critical analysis is developed throughout the chapter which provides an overview of the practical implications and changes affecting executive remuneration and reward strategy if an integrated approach to corporate governance and CSR underpins executive compensation.
Original languageEnglish
Title of host publicationCorporate Goals and Responsibilities
Subtitle of host publicationEconomic, Social and Human Rights
Place of PublicationDudweiler Landstr, Germany
PublisherLambert Academic Publishing
Chapter5
Pages60-83
Number of pages24
ISBN (Print)978-3845434124
Publication statusPublished - 2013

Fingerprint

Global financial crisis
Sustainability
Corporate Social Responsibility
Executive remuneration
Corporate governance
Reward
Executive compensation
Synergy
Divergence
Rationale
Financial services
Integrated approach
Financial crisis
Interdependence
Service sector

Keywords

  • Corporate Governance
  • Corporate Social Responsibility
  • Human Resource Management
  • Reward Management
  • Executive Compensation
  • Global Financial Crisis
  • Sustainability
  • Executive Remuneration
  • Executive Pay
  • Compensation and Benefits

Cite this

Ejiogu, C. J., Ozoh, C. E., & Ejiogu, C. A. (2013). Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis: Enabling Sustainability through Executive Remuneration and Reward Strategy. In Corporate Goals and Responsibilities: Economic, Social and Human Rights (pp. 60-83). Dudweiler Landstr, Germany: Lambert Academic Publishing.

Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis : Enabling Sustainability through Executive Remuneration and Reward Strategy. / Ejiogu, Chibuzo Jiten; Ozoh, Claire. E; Ejiogu, Chioma. A.

Corporate Goals and Responsibilities: Economic, Social and Human Rights. Dudweiler Landstr, Germany : Lambert Academic Publishing, 2013. p. 60-83.

Research output: Chapter in Book/Report/Conference proceedingChapter

Ejiogu, CJ, Ozoh, CE & Ejiogu, CA 2013, Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis: Enabling Sustainability through Executive Remuneration and Reward Strategy. in Corporate Goals and Responsibilities: Economic, Social and Human Rights. Lambert Academic Publishing, Dudweiler Landstr, Germany, pp. 60-83.
Ejiogu CJ, Ozoh CE, Ejiogu CA. Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis: Enabling Sustainability through Executive Remuneration and Reward Strategy. In Corporate Goals and Responsibilities: Economic, Social and Human Rights. Dudweiler Landstr, Germany: Lambert Academic Publishing. 2013. p. 60-83
Ejiogu, Chibuzo Jiten ; Ozoh, Claire. E ; Ejiogu, Chioma. A. / Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis : Enabling Sustainability through Executive Remuneration and Reward Strategy. Corporate Goals and Responsibilities: Economic, Social and Human Rights. Dudweiler Landstr, Germany : Lambert Academic Publishing, 2013. pp. 60-83
@inbook{90c5d0398ce34ad094f536864b7222b9,
title = "Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis: Enabling Sustainability through Executive Remuneration and Reward Strategy",
abstract = "In spite of the potential synergies and mutual interdependence of corporate governance and Corporate Social Responsibility (CSR), they have developed and been practiced independently of each other. The Global Financial Crisis gone some way in highlighting this disparity and has placed executive remuneration, especially in the financial services sector, in the public spotlight amid calls for reform and more effective regulation. This requires a new way of approaching executive remuneration and the overall organizational reward strategy.This chapter analyzes corporate governance and CSR, highlighting areas ofconvergence and divergence; explores the benefits and synergies derivable from integrating both corporate practices; discusses the different models used to achieve an integration of corporate governance and CSR; it positions CSR and corporate governance in relation to the Global Financial Crisis and to executive remuneration practices. Executive remuneration is explored in light of the financial crisis and consideration is given to the rationale for approaching executive compensation through the integration of CSR and corporategovernance. A critical analysis is developed throughout the chapter which provides an overview of the practical implications and changes affecting executive remuneration and reward strategy if an integrated approach to corporate governance and CSR underpins executive compensation.",
keywords = "Corporate Governance, Corporate Social Responsibility, Human Resource Management, Reward Management, Executive Compensation, Global Financial Crisis, Sustainability, Executive Remuneration, Executive Pay, Compensation and Benefits",
author = "Ejiogu, {Chibuzo Jiten} and Ozoh, {Claire. E} and Ejiogu, {Chioma. A}",
year = "2013",
language = "English",
isbn = "978-3845434124",
pages = "60--83",
booktitle = "Corporate Goals and Responsibilities",
publisher = "Lambert Academic Publishing",

}

TY - CHAP

T1 - Integrating Corporate Governance and Corporate Social Responsibility in the Context of a Global Financial Crisis

T2 - Enabling Sustainability through Executive Remuneration and Reward Strategy

AU - Ejiogu, Chibuzo Jiten

AU - Ozoh, Claire. E

AU - Ejiogu, Chioma. A

PY - 2013

Y1 - 2013

N2 - In spite of the potential synergies and mutual interdependence of corporate governance and Corporate Social Responsibility (CSR), they have developed and been practiced independently of each other. The Global Financial Crisis gone some way in highlighting this disparity and has placed executive remuneration, especially in the financial services sector, in the public spotlight amid calls for reform and more effective regulation. This requires a new way of approaching executive remuneration and the overall organizational reward strategy.This chapter analyzes corporate governance and CSR, highlighting areas ofconvergence and divergence; explores the benefits and synergies derivable from integrating both corporate practices; discusses the different models used to achieve an integration of corporate governance and CSR; it positions CSR and corporate governance in relation to the Global Financial Crisis and to executive remuneration practices. Executive remuneration is explored in light of the financial crisis and consideration is given to the rationale for approaching executive compensation through the integration of CSR and corporategovernance. A critical analysis is developed throughout the chapter which provides an overview of the practical implications and changes affecting executive remuneration and reward strategy if an integrated approach to corporate governance and CSR underpins executive compensation.

AB - In spite of the potential synergies and mutual interdependence of corporate governance and Corporate Social Responsibility (CSR), they have developed and been practiced independently of each other. The Global Financial Crisis gone some way in highlighting this disparity and has placed executive remuneration, especially in the financial services sector, in the public spotlight amid calls for reform and more effective regulation. This requires a new way of approaching executive remuneration and the overall organizational reward strategy.This chapter analyzes corporate governance and CSR, highlighting areas ofconvergence and divergence; explores the benefits and synergies derivable from integrating both corporate practices; discusses the different models used to achieve an integration of corporate governance and CSR; it positions CSR and corporate governance in relation to the Global Financial Crisis and to executive remuneration practices. Executive remuneration is explored in light of the financial crisis and consideration is given to the rationale for approaching executive compensation through the integration of CSR and corporategovernance. A critical analysis is developed throughout the chapter which provides an overview of the practical implications and changes affecting executive remuneration and reward strategy if an integrated approach to corporate governance and CSR underpins executive compensation.

KW - Corporate Governance

KW - Corporate Social Responsibility

KW - Human Resource Management

KW - Reward Management

KW - Executive Compensation

KW - Global Financial Crisis

KW - Sustainability

KW - Executive Remuneration

KW - Executive Pay

KW - Compensation and Benefits

M3 - Chapter

SN - 978-3845434124

SP - 60

EP - 83

BT - Corporate Goals and Responsibilities

PB - Lambert Academic Publishing

CY - Dudweiler Landstr, Germany

ER -