What Determines Principle-Based Standards Implementation? Reporting on Global Compact Adoption in Spanish Firms

International Accountability Standards have proliferated in the last 20 years, with the UN Global Compact (GC) as the most widely accepted principle-based standard catalyzing voluntary participation by firms. This study aims to improve understanding about the factors that determine companies' p...

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Bibliographic Details
Published in:Journal of business ethics 2016-02, Vol.133 (3), p.553-565
Main Authors: Ayuso, Silvia, Roca, Mercè, Arevalo, Jorge A., Aravind, Deepa
Format: Article
Language:English
Subjects:
Accountability
Business and Management
Business entities
Business Ethics
Business innovation
Companies
Consumer goods industries
Corporate responsibility
Corporate social responsibility
Corruption
Education
Environmental management
Ethics
Expectations
Global corporations
Globalization
Green businesses
Human rights
Implementation
Initiatives
Intellectuals
International cooperation
International standards
ISO standards
Management
Participation
Philosophy
Principles
Quality of Life Research
Social responsibility
Spain
Studies
Treaties
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Summary:International Accountability Standards have proliferated in the last 20 years, with the UN Global Compact (GC) as the most widely accepted principle-based standard catalyzing voluntary participation by firms. This study aims to improve understanding about the factors that determine companies' progress in adopting principle-based standards. Drawing on the resource-based view of the firm, we examine the direct and combined influences of different organizational resources (firm-specific resources, innovative capability, length of participation, and internationalization of the firm) on standard implementation as perceived by 213 Spanish GC signatories. Our results reveal that the level of firm-specific resources has a positive effect on the extent of GC principles implementation and that innovative capability and length of GC participation strengthen this effect. Contrary to our expectations, we find that the internationalization of firms does not have an effect on GC principles implementation. We discuss the implications of these findings for scholars and practicing managers.
ISSN:0167-4544
1573-0697
DOI:10.1007/s10551-014-2412-4