social responsibility

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Social Responsibility

The practice of appropriate behavior in a public setting, regardless of the behavior's legality. In investing, social responsibility helps inform the investment decisions of some individuals and companies. For example, an individual may have a moral objection to smoking and therefore may refrain from investing in tobacco companies. Social responsibility in investing may be either positive or negative; that is, it may inform where an individual makes investments (e.g. in environmentally friendly companies) and where he/she does not (e.g. in arms manufacturers). Some mutual funds and even whole subdivisions are dedicated to promoting socially responsible investing. See also: Green fund, Islamic finance.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

social responsibility

a business philosophy that stresses the need for firms to behave as good corporate citizens, not merely obeying the law but furthering the interests of the STAKEHOLDERS - shareholders, employees, customers, suppliers and the community Social responsibility is an alternative goal to PROFIT MAXIMIZATION for firms. See CORPORATE GOVERNANCE, FIRM OBJECTIVES.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Once on the fringes of Wealth Management, socially responsible investing (SRI) is more popular today than ever.
"Appetite for socially responsible funds is increasing, as is the number of people turning away from meat, he says, pointing to a report from GlobalData showing a 600% increase in vegans in the U.S.
At this symposium, the only one of its kind worldwide, leading international guest speakers representing every tourism market, business and science will share their findings and experiences on the subject of socially responsible tourism.
"You think about what can we do as policy makers to attempt to get others to be more socially responsible in what they do," she said during a committee meeting on Wednesday.
The Employers Federation of Pakistan (EFP) in collaboration with the International Labour Organization (ILO) has been implementing the Multinational Enterprises and Social Policy (MNE) Declaration Project 'More and better jobs through socially responsible labour practices in Pakistan's sports goods sector' in Sialkot since August 2015.
Friendship with Cambodia, a Eugene-based non-profit organization that empowers the poor to help themselves, has written about these opportunities in its book, "Socially Responsible Travel Guide Cambodia."
They formulated three alternative hypotheses concerning relationships between rates of return on socially responsible portfolios and rates of return on conventional portfolios.
* Academic Intelligence: Consumers' academic intelligence is also a significant determinant of socially responsible behaviour allied with academic qualifications; as direct relationship has been noticed between academic intelligence and attainment of social responsibility by Singh and Gupta (2011).
Global Banking News-October 26, 2016--Promoters to launch Impak Finance as a socially responsible bank
Masoom said that the World Congress of Muslim Philanthropists (WCMP), a global network of affluent individuals, grant-making foundations, and socially responsible corporations, launched the GDF in 2008 at Istanbul by the then honourable Prime Minister of Turkey along with representatives of Organization of Islamic Cooperation (OIC), Islamic Development Bank (IDB), Islamic Education, Scientific and Cultural Organization (ISESCO) and sovereign governments, socially-responsible corporations, and philanthropic foundations.
Summary: For corporates to be socially responsible, the corner office takes centre stage

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