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Johannes Christian Fieseler
Former Member
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Item type:Publication, Framing Corporate Social Responsibility for Capital Market Communications(2008-05-22); ; The empirical findings presented in this paper were gained from interviews with equity analysts at the Frankfurt Stock Exchange. The interviews sought to identify how mainstream equity analysts, that are not particularly involved in Socially Responsible Investment research, perceive the concept of Corporate Social Responsibility. On the one hand, the evidence suggests that ecological, social and governance issues are increasingly becoming part of mainstream investment analysis. However, in order to gain legitimacy among capital market participants, sustainability issues have to be communicated and framed according to the financial community's perspective. In particular, the impact of CSR measures on a company's strategic development, its corporate governance, image and employee relations seem to be most relevant to the financial community. Based on our findings, we propose that CSR issues could become a greater component of investor relations activities, if framed appropriately.Type:conference paper - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Making Sustainability Heard - Investor Relations Role in Communicating Corporate Responsibility(The George Washington University School of Business, 2008-08-12); ; Despite its current popularity in research as well as public debate, the concept of Corporate Social Responsibility (CSR) has always been somewhat vague. The lack of a common understanding may explain some of the controversy surrounding the issue of CSR. Given this ambiguity and controversy, any public company engaging in CSR activities needs to explain and justify its choice of programs and policies to its relevant stakeholders. One of the most crucial stakeholder groups in this respect are the professional capital market participants covering a company, since their perceptions and judgements directly impact a company’s resource base, and thereby its strategic options. The communication of CSR activities to these stakeholders can only be expected to be successful if their perspective is adequately understood by the company. This paper presents an explorative empirical survey of 42 European equity analysts. Based on qualitative, in-depth interviews with this core stakeholder group, the perception of CSR issues on capital markets is described and differentiated. Furthermore, suggestions on how to appropriately frame CSR issues in capital market communication are derived. We believe that the insights provided by this survey may help foster greater acceptance for CSR activities by the financial community.Type:conference paper