While the importance of physical capital, human capital, and intellectual capital in corporations is well understood, there is another type of capital which has received a lot less attention: Social Capital, broadly defined as the quality of the relationships that a firm, its executives and employees, have built with other stakeholders. What can corporations do to build their social capital? In our research, we suggest that one way of building social capital is through efforts that generally fall within the umbrella of Corporate Social Responsibility (CSR). We show that, in some circumstances, such efforts can add firm value. However, we argue that recent calls to increase firm commitments to CSR initiatives are premature.
| Speaker: |
Ane Tamayo, Professor of Accounting, LSE |
| Chair: |
Kevin Featherstone, Hellenic Observatory Director; Eleftherios Venizelos Professor of Contemporary Greek Studies and Professor of European Politics, LSE |
| Discussant: |
Sophie Daskalaki- Mytilineou, President of the Corporate Social Responsibility (CSR) Committee of MYTILINEOS S.A. |
| Date: |
Thursday 16 May 2019 |
| Time: |
18.45-20.30 |
| Venue: |
Megaron Karatza, Aiolou 82, 105 51 Athens, Greece |
Ane Tamayo is a Professor of Accounting at the London School of Economics. She holds a BSc in Business from the Basque Country University, an MSc in International Banking and Finance from Heriot-Watt University, an MPhil in Finance from City University Business School, and an MS in Applied Economics and a PhD in Finance from the University of Rochester. Her areas of interest include the role of accounting information in capital markets, market efficiency, financial intermediaries, corporate control, and corporate social responsibility. She has published articles on these topics in the leading accounting and finance journals, including the Journal of Accounting Research, the Journal of Finance, the Journal of Financial Economics, Management Science and the Review of Accounting Studies. Ane has won prizes for several of her articles, the latest one being the 2016 Standard Life Investments Prize for the Best Paper in the Finance Working Paper Series of the European Corporate Governance Institute. Prior to joining the London School of Economics, Ane was an Assistant Professor at London Business School. She has also been a Visiting Research Fellow at the University of Cambridge and a Visiting Professor at the University of Oxford. At the London School of Economics, Ane teaches financial reporting to MSc students and research topics in accounting and finance to PhD students. She has also taught in several MBA and Executive MBA programmes.
Sophie Daskalaki - Mytilineou was born in Buenos Aires. She studied Business Administration (BSc, Deree College) and Economics (MSc, London School of Economics). She worked as a financial analyst for two years in the Short-Term Economic Forecasting Department of the Ministry of Coordination and for five years in the Economic Research Department of the Bank of Greece, before joining MYTILINEOS in 1990, where she developed the Group’s Corporate Affairs and Corporate Social Responsibility functions as BoD member.She has been elected member of the Board of Directors of the Hellenic Federation of Enterprises (SEV) 2012-2014 and of the General Council since 2014 to date. From 2000 to 2010 she served as elected Municipal Councilor and Deputy Mayor in the Municipality of Athens. Member BoD of American-Hellenic Chamber of Commerce since 2013 and member of the Amcham Cultural Committee. From June 2018, nominated by BoD, President of the CSR Committee of MYTILINEOS S.A.She is a founding member of the NGO “Friends of Children with Cancer” (“ELPIDA”) and of “Transparency International Greece”, which is member of the Transparency International organization.
Kevin Featherstone is Eleftherios Venizelos Professor in Contemporary Greek Studies and Professor in European Politics. He is the Director of the Hellenic Observatory and Co-Chair of LSEE: Research on South-East Europe within the European Institute. He has held visiting positions at the University of Minnesota; New York University; and Harvard University. Before LSE, he held academic posts at the universities of Stirling and Bradford. In 2009-10 he served on an advisory committee to Prime Minister George Papandreou for the reform of the Greek government. He was the first foreign member of the National Council for Research and Technology (ESET) in Greece, serving from 2010-2013. He is Vice-Chair of the Academic Council of 'Atomium Culture', Brussels, a not-for-profit promoting collaboration within the European Research Area. In 2013 he was made ‘Commander: Order of the Phoenix’ by the President of the Hellenic Republic. In 2014, the European Parliament selected one of his books (co-authored with Kenneth Dyson) as one of its ‘100 Books on Europe to Remember’. He has contributed regularly to ‘Kathimerini’.