Stakeholder Dialogue in Germany, Italy, and the United States — The Harvard Law School Forum on Corporate Governance

Good read and takeaways in governance for small business.  Communications

Excerpt: ….. information disclosed in the sustainability reports and the concentration on certain forms of dialogues and categories of stakeholders reveals a need for improvement in social disclosure and SD practices. In particular, the promotion of CSR values and standards could generate additional incentives for firms that can lead to richer disclosure and more diverse SD initiatives. In addition, as explained by various streams of literature on CSR, firms must more ethically and consistently consider the importance of SD. The findings also revealed remarkable national differences. Characteristics of national business systems are associated with the firm approach to SD, and explain differences between SD practices in Germany, Italy, and the United States.

Due to differences across countries, for example, in terms of legislation and corporate governance structures, attempts to create universal principles and guidelines for CSR may be misguided

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