1. Dowell, G., S. Hart and B. Yeung. (2000) Do Corporate Global Environmental Standards Create or
Destroy Market Value?, Management Science, 46 (8), 1059‐1074.

The authors analyze the global environmental standards of a sample of US‐based MNEs in relation to
their stock market performance and find that firms adopting a single, stringent global
environmental standard have much higher market values, as measured by Tobin’s q, than firms
defaulting to less stringent, or poorly enforced host country standards. Thus, developing countries
that use lax environmental regulations to attract foreign direct investment may end up attracting
poorer quality, and perhaps, less competitive firms. The provided literature review offers useful
insight on the relationship between environmental standards and financial indicators. Adopting
stringent environmental standards may actually be more profitable than defaulting to lower local
environmental standards. Companies with lower market values tend to pursue lower environmental
standards. This research gives strong arguments for the benefits of environmentally conscious
business conduct, therefore it will be interesting to compare them with newer articles in further
research.

2. Tai, F. M., & Chuang, S. H. (2014) Corporate social responsibility, iBusiness, 6 (3), 117-130.

When we talk about corporate social responsibility, we must ask ourselves, why is it important? The
stated resource has comprehensive answers to this question. According to the stated resource,
corporations should not simply be focusing on maximizing profits. They must also act as responsible
citizens and contribute to the society. Sustainability is a must for any business in the modern
age. Corporate social responsibility helps organizations attain a level of sustainability to gain
not just short term but also long-term goals. The paper has also shed light on the active and
passive ways in which corporate social responsibility activities can be carried out. The research
paper also informs about the ways in which citizens can be made aware of corporate social
responsibility that they should expect from the organizations which they come in contact with. The
findings are relevant for future research because they state useful information on the topic.

3. Gugler, P. and Shi, J. Y. J. (2009) Corporate Social Responsibility for Developing Country
Multinational Corporations: Lost War in Pertaining Global Competitiveness?", Journal of Business
Ethics, 87 (1), 3-24.

This article explores the North‐South division through the analysis how corporate responsibility
has an increasingly important role to play in leveraging the comparative advantage of the North and
the South in the globalization. The authors state that the comparative advantage of the South is
mainly based on low cost, one of the crucial cost‐minimizing factors being lower social and
environment standards. Under the CSR pressures imposed by different stakeholder groups, especially
criticized for their irresponsible sourcing from the South, MNEs from the North responded by
establishing private supplier’s Code of Conducts usually containing higher standards than what the
host country has put in place, and making them mandatory in selecting suppliers. Thus, CSR
accentuates the power imbalance between large MNEs from the North and small suppliers from
developing countries. The article gives insight for further research of different strategy
implementation in different parts of the world.