This book explores the challenges and opportunities presented by the formulation of a global code of conduct for transnational corporations. It assesses the current state of research on global regulations intended to enhance the social responsibility of transnational corporations, and provides a platform for future research.

1;Preface;7 2;Acknowledgements;9 3;Contents;10 4;Editor and Contributors;11 5;1 Quest for a Global Code of Conduct for TNCs-A Grim Tale;13 5.1;1 Introduction;13 5.2;2 Major Global Frameworks;14 5.2.1;2.1 The Draft Code of Conduct on Transnational Corporations;15 5.2.2;2.2 Tripartite Declaration of Principles on Multinational Enterprises and Social Policy;20 5.2.3;2.3 The OECD Guidelines for Multinational Enterprises;21 5.2.4;2.4 The Set of Multilaterally Agreed Equitable Principles, and Rules for the Control of Restrictive Business Practices;23 5.2.5;2.5 The Bilateral Investment Treaty;23 5.2.6;2.6 The Draft Norms on the Responsibilities of TNCs and Other Business Enterprises with Regard to Human Rights;24 5.2.7;2.7 The Global Compact;26 5.2.8;2.8 The Guiding Principles on Business and Human Rights;28 5.3;3 Conclusion;30 5.4;References;31 6;2 An 'Instrument of Moral Persuasion'-Multinational Enterprises and International Codes of Conduct in the 1970s;35 6.1;1 Introduction;35 6.2;2 The Multinational Dilemma;38 6.3;3 Codes of Conduct;43 6.4;4 Aftermath;51 6.5;References;53 7;3 TNC Code of Conduct or CSR? A Regulatory Systems Perspective;56 7.1;1 Introduction;56 7.2;2 Background;57 7.3;3 Codes;57 7.3.1;3.1 What Is a Code of Conduct?;58 7.3.2;3.2 Codes and Law;59 7.4;4 Understanding Regulation;60 7.5;5 CSR as Regulation;61 7.5.1;5.1 Understanding CSR;62 7.6;6 Stand-Alone Code: ISO 26000 Case Study;63 7.6.1;6.1 Background;63 7.6.2;6.2 Analysis and Critique of the ISO 26000;65 7.7;7 Codes in Context: Success and Failure;67 7.8;8 A New Code?;68 7.9;9 Conclusion;70 7.10;References;70 8;4 Behavioral Dynamics and Regulation of Transnational Corporations;74 8.1;1 Introduction;74 8.2;2 The International Social Order Enables Predation;76 8.2.1;2.1 Institutions of the International Order Lack Sophistication;76 8.2.2;2.2 Powerful Actors Dominate the International Order;77 8.3;3 The Predatory Potential of a TNC;79 8.3.1;3.1 Behavioral Adjustment in Different Social Orders;79 8.3.2;3.2 Characteristics of the TNC and Its Home Social Order;81 8.3.2.1;3.2.1 The Predatory Nature of Products and Services of the TNC;81 8.3.2.2;3.2.2 The Economic Power of the TNC;82 8.3.2.3;3.2.3 The Strategic Importance of the TNC for the Home Social Order;83 8.3.2.4;3.2.4 The Power of the Home Social Order;83 8.3.3;3.3 Analysis of the Predatory Potential of a TNC;84 8.3.4;3.4 Example of Predatory Behaviors of TNCs;85 8.4;4 The Prey Potential of a Social Order;86 8.4.1;4.1 Power and Resilience of the Host Social Order;86 8.4.1.1;4.1.1 Governance Axis-Innovation Axis;87 8.4.1.2;4.1.2 Summary Diagrams of the Prey Potential of a Social Order;88 8.4.2;4.2 Assessment of the Prey Potential of Some African Countries;88 8.4.2.1;4.2.1 Governance: The Ibrahim Index of African Governance (IIAG);90 8.4.2.2;4.2.2 Innovation: The Global Innovation Index (GII);90 8.4.2.3;4.2.3 The Governance-Innovation Relationship for Africa;90 8.5;5 The Risk of Predation;93 8.6;6 Regulating TNCs Behavior Through SD and CSR;93 8.6.1;6.1 Crypto-Morality;94 8.6.2;6.2 TNCs' Cost-Benefit Analysis of Predation;95 8.7;7 Conclusion;96 8.8;References;97 9;5 The UN Global Compact for Transnational Business and Peace: A Need for Orchestration?;99 9.1;1 Introduction;99 9.2;2 What is an IGO and What is the Theory of IGO Orchestration?;100 9.3;3 The Role of an Intermediary;101 9.4;4 Who Are the Targets?;102 9.5;5 What Kind of Rules?: Hard Law to Super Soft Law;103 9.6;6 What Are the Tools for Targets?;103 9.6.1;6.1 Case 1: Creating a Process of Guidance on Responsible Business in Conflict-Affected and High-Risk Areas: A Resource for Companies and Investors (UNGCO 2010);105 9.6.2;6.2 Case 2: 25 June 2013 "Business for Peacebuilding" Conference;108 9.6.3;6.3 Case 3: Business for Peace Document (UNGCO 2013a);110 9.6.4;6.4 Case 4: The Oslo Business for Peace Award;113 9.7;7 Concluding Note;114 9.8;References;119 10;6 Transnational Corporations' Social License to Operate-The Third Facet of Corporate Governance;121