Private firms are increasingly being regarded as moral agents of their stakeholders and the broader public. Stakeholders can use different types of evaluation organizations to monitor this division of moral labor, but must also monitor the credibility of this second layer of moral agents. This paper uses agency, signaling, and legitimacy theory to develop a novel conceptual framework showing how both firms and evaluation organizations send signals of their credibility as moral agents to earn grants of legitimacy from their moral stakeholders. The paper also describes how three specific characteristics of ratings and certifications – transparency, expertise, and independence – may signal different forms of credibility, appeal to particular stakeholder groups, and elicit different forms of legitimacy. A content analysis of the websites of 245 eco-labels, sustainability ratings and other forms of environmental evaluations reveals the multi-dimensional nature of these three characteristics, and finds that transparency is the most commonly-sent signal of credibility, followed by independence and then expertise. These results highlight the complexity of existing signals of credibility, and suggest several strategies – including voluntary credibility standards and a virtual information marketplace – that both private and public actors can pursue to improve the quality and accessibility of these signals of credibility.

The existing literature in public policy has commented mostly on mature and established businesses, leaving the relationships between entrepreneurial businesses and public policies less explored. Relying on qualitative research methods and quantitative surveys, we examine how managers in an intensively regulated entrepreneurial setting assessed the desirability of public policies. We show that managers in the regulated energy efficiency and renewable (EERE) business sector in the 1990s tended to view public policies favorably only if they lacked control over the business environment. The less control they perceived they had over the business environment, the more favorably they tended to view public policies. Our findings suggest that managers in a regulated entrepreneurial setting tend to view public policies as substitutes for their efforts to control their business environment, not as complements, as studies of mature and established companies in regulated settings commonly find. However, we also find some evidence to suggest these perceptions may evolve, as a business experiences greater success attracting customers.

Over the last 20 years, developing countries have witnessed the increased role of non-governmental actors such as health industry associations and umbrella organizations in the diffusion and governance of health innovation. Utilizing extensive interviews with actors in the Indian and South African health industries, this paper argues that, in a context of emerging pluralism – i.e., a dynamic context of bargaining between competing (public and private) interests and values – these associations constitute public actors that play dual roles in the politics of innovation and development. Specifically, not only do they engage downstream by diffusing knowledge to their respective health innovation systems in order to achieve common objectives, they also engage upstream with their governments to co-develop policies and regulations. This dual role of health industry associations and umbrella organizations makes them less neutral politically but more effective institutionally, and their innovative and political role should be seriously taken into account in the healthcare sector.

This article, situated at the interface of competition policy and labor economics literatures, examines the relationship between new competitor entry and its impact on changes in the employment levels and wage levels of incumbent telecommunications firms. The context for examining the issue is the local exchange carriers’ territories within the US. In markets with above-average competitive entry by new firms there has been a significant response by incumbent firms in increasing employment levels by 11% relative to industry average values, and wage levels have risen by 11.8% relative to average levels. In modern technologically-dynamic sectors, characterized by network effects, the impact of deregulation, competition policy changes and market entry on changes in employment and wage levels in the incumbent firms have been positive. The idea as to whether across-the-board competition leads to job losses or impacts wages negatively in incumbent firms requires re-assessment and the data suggest that promoting entry can be a powerful policy option to generate useful economic outcomes.

South Korea and Singapore display distinctive patterns of social provision. The Singaporean welfare state has served as the primary provider of social infrastructure and services, whereas the South Korean welfare state has developed its primary role in supporting income maintenance. These differences are not well accounted for in the existing literature, which focuses on similarities between the two regimes. This paper shows that deep institutional legacies in the two countries’ respective financial structures powerfully shaped their unique social policy instruments. In South Korea, where financial openness was low and firms relied on relationship-based financing, the corresponding long-term perspectives on production and employment encouraged the private provision of welfare-related infrastructure and services. In Singapore, where firms have relied heavily on arm's length financing, the corresponding flexible investment and employment perspectives encouraged the utilization of private income maintenance arrangements. Each country's government prioritized the mode of social provision that the firms were less willing to engage in. These findings suggest that financial liberalization may be an important determinant of welfare regimes in developing countries.

This study investigates stakeholder pressures on corporate climate change-related accountability and disclosure practices in Australia. While existing scholarship investigates stakeholder pressures on companies to discharge their broader accountability through general social and environmental disclosures, there is a lack of research investigating whether and how stakeholder pressures emerge to influence accountability and disclosure practices related to climate change. We surveyed various stakeholder groups to understand their concerns about climate change-related corporate accountability and disclosure practices. We present three primary findings: first, while NGOs and the media have some influence, institutional investors and government bodies (regulators) are perceived to be the most powerful stakeholders in generating climate change-related concern and coercive pressure on corporations to be accountable. Second, corporate climate change-related disclosures, as documented through the Carbon Disclosure Project (CDP), are positively associated with such perceived coercive pressures. Lastly, we find a positive correlation between the level of media attention to climate change and Australian corporate responses to the CDP. Our results indicate that corporations will not disclose climate change information until pressured by non-financial stakeholders. This suggests a larger role for non-financial actors than previously theorized, with several policy implications.