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

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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.