When investors care about social conscience

• François FATOUX
  In charge of the Observatoire sur la responsabilité sociale des entreprises (ORSE) (Watchdog on the Social Responsibility of Companies)
  

Summary

A new movement has taken on a significance which cannot be ignored with regard to ethical concerns about pension funds. Investors are increasingly concerned about the social or environmental behaviour of the companies which they finance. However, the information used to judge this remains questionable. Financial analysts compare countries regardless of whether they are developed or underdeveloped, and treat specific legal measures with disdain. Furthermore, the slightest weakness detected is condemned willy-nilly by the media, which make the most advanced companies hesitate before giving financial information. Will this ethical movement find stability by resorting to private assessment agencies, relying on the regulatory powers of countries or in a consensus about the definition of responsible social behaviour ? Or will it be a new aspect of the domination of American strength ?

Summary translated from French by Rachel MARLIN.

• The entire article was written by Loïc VIEILLARD-BARON.

To obtain this article, you can :

• download it for free in French (PDF help) or contact ecopar@paris.ensmp.fr (Reference VC140601).

The entire article appears in French in the Journal de l'École de Paris du management N° 32.