 We see that companies listed on the stock exchange market, on average, perform better if they pay attention to corporate social responsibility. That means that we know very much about the positive impact of corporate social responsibility on business performance for those companies that we know of. We don't know a lot about non-listed companies. We don't know much about small and medium-sized companies. We know hardly anything about many companies in China, India, Russia and so on and so forth. But for those companies that we can observe, we can in general say that there is hardly any evidence for general negative impact of corporate social responsibility on business performance. Well, there are basically three ways of explaining this. One is the market explanation, the other is the finance market explanation and the third one is the labor market explanation. The market explanation runs across the products that you and I can consume or decide not to consume. Maybe we don't like to see a company that is producing our food to engage in genetic manipulation, in the violation of human rights and we express our disrespect for those companies in our consumption decisions. We simply don't buy certain products anymore. The same holds basically for our investment decisions. If we invest the little money that we have in the stock exchange market, we want to make sure that those people who get our money don't deal with weapons, with pornography, with tobacco and so on and so forth. The third explanation is that companies treat their employees in a specific way. That employees want to be proud of their company, want to talk positively about their company and if they can't, they take an internal distance to their company and show less motivation, less commitment and this commitment of employees to a good company is very important for the financial performance eventually of a company. So that's why managers should care about moral issues? I'm not saying this because managers have a moral duty. They are people, they are persons and they have to adhere to moral norms and standards. However, we also see that within an organization there are other pressures on managers. Managers do bad things not because they are bad persons. Managers in some cases do bad things because the financial market and the system as such is demanding that from managers from time to time. Not explicitly but implicitly. However, we see that the conviction of managers that CSR is a good thing for the companies eventually leads to the fact that they pay more attention to corporate social responsibility issues and that is an important mechanism. You see differences between countries? Very, very important differences. Not only with the possibility to observe countries and companies but also with regard to the awareness, to the knowledge about moral issues. Education plays a major role here. We see that in countries where people are well educated companies have to pay more attention to corporate responsibility issues. We see for example that there is a great deal of difference with regard to bribery issues between the Scandinavian countries and the Latin European countries. We see a very, very strong neoliberal market orientation in the former communist countries much more than it is the case in our classically social democratic Western Europe and that also has impact on let's say the level of adherence of companies to societal needs. But on the other hand real bad companies make a lot of money. We indeed see that bad companies who deal with gambling, pornography and so on and so forth make a lot of money. Those boobs and bombs funds in the US outperform the market. On the other hand we see an increasing level of awareness. People within America and Europe are aware and concerned if a telephone producer is complicit to the violation of human and labour rights in China and they will punish him for it.