Table of Contents

Emerging Dynamics of Sustainability in Multinational Enterprises

Emerging Dynamics of Sustainability in Multinational Enterprises

New Horizons in International Business series

Edited by John R. McIntyre, Silvester Ivanaj, Vera Ivanaj and Rabi N. Kar

This review addresses some of the pertinent questions arising out of the fast changing dynamics of sustainability development in multinational enterprises focusing their strategies, practices and models on emerging economies. Contributors from India, Europe and the United States offer fresh perspectives on strategic considerations for firms as well as case material.

Chapter 5: Convergence and divergence of transnational regulation: the issue of MNEs and corporate social responsibility

Joseph Effiong

Subjects: business and management, international business, management and sustainability

Extract

Globalization of the marketplace has resulted in the diffusion of common norms and the emergence of a globalized society accentuated by transnational networks of governmental and non-governmental organizations. The extent of the norm diffusion is not only influenced by the institutional environment but also by the extent of governments’ and citizens’ patronage. Multinational enterprises (MNEs) have therefore become major players in the globalized world economy and are consequently wielding great influence on economic dynamics in developed and developing countries alike. Trends toward global economic integration are raising questions concerning regulatory convergence and divergence in new scope and context. Several researchers (Potoski and Prakash, 2004; Walter, 2008; Helleiner and Pagliari, 2011) have established that informal regulatory convergence, regulatory fragmentation (Drezner, 2007) and co-operative regulatory decentralization (Singer, 2004) are fueled by the forces of globalization as adopted by MNEs operating in emerging economies. Though globalization has increased the strength, number and diversity of stakeholder pressures and consequently compelled MNEs to promote CSR activities, recent research highlights disparities in the way MNEs address corporate social responsibility (CSR) (Gardberg and Fombrun, 2006).

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