Complying with voluntary codes of conduct: Corporate strategies for the Valdez Principles

The Valdez Principles is the latest of a series of voluntary codes of conduct that have been enunciated by various advocacy groups to guide the behavior of business enterprises. These principles provide guidelines on corporate conduct towards the environment and present a corporation with critical choices. This study suggests alternative strategies that firms may adopt to cope with this new code. Experience with the Sullivan and MacBride Principles is analyzed to serve as the basis to predict corporate response to the Valdez Principles.