Open AccessGlobal Corporate Accountability
Author(s) -
Jean-Jacques Lambin
Publication year - 2020
Publication title -
symphonya
Language(s) - English
Resource type - Journals
eISSN - 1593-0319
pISSN - 1593-0300
DOI - 10.4468/2020.1.04lambin
Subject(s) - accountability , corporate social responsibility , globalization , business , sustainability , social responsibility , accounting , power (physics) , corporate governance , perception , economic globalization , civil society , economic system , economics , market economy , finance , public relations , political science , politics , ecology , physics , quantum mechanics , neuroscience , law , biology
Global corporate accountability refers to the performance of a publicly traded company in non-financial areas such as social responsibility, sustainability and environmental performance. The emergence of global civil regulation is rooted in the perception that economic globalization has created a structural imbalance between the size and power of global firms and markets and the capacity and/or willingness of governments to adequately regulate their corporate conduct. The objective of economic sustainability implies the development within the firm of a societal corporate accountability system, which will help the firm to manage its economic and societal responsibilities and to periodically report to its different stakeholders.