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 ?
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This session was published in issue n°32 of the Journal de l'École de Paris du management, entitled L'entreprise et la cité.
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