Economic Perspectives on Corporate Social Responsibility
This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore whether CSR should exist and investigate conditions when CSR may produce higher w...
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| Published in | Journal of economic literature Vol. 50; no. 1; pp. 51 - 84 |
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| Main Authors | , |
| Format | Journal Article |
| Language | English |
| Published |
Nashville
American Economic Association
01.03.2012
Assoc |
| Subjects | |
| Online Access | Get full text |
| ISSN | 0022-0515 2328-8175 |
| DOI | 10.1257/jel.50.1.51 |
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| Abstract | This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore whether CSR should exist and investigate conditions when CSR may produce higher welfare than other public good provision channels. We also explore why CSR does exist. Here, we integrate theoretical predictions with empirical findings from economic and noneconomic sources. We find limited systematic empirical evidence in favor of CSR mechanisms related to induced innovation, moral hazard, shareholder preferences, or labor markets. In contrast, we uncover consistent empirical evidence in favor of CSR mechanisms related to consumer markets, private politics, and public politics. |
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| AbstractList | This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore whether CSR should exist and investigate conditions when CSR may produce higher welfare than other public good provision channels. We also explore why CSR does exist. Here, we integrate theoretical predictions with empirical findings from economic and noneconomic sources. We find limited systematic empirical evidence in favor of CSR mechanisms related to induced innovation, moral hazard, shareholder preferences, or labor markets. In contrast, we uncover consistent empirical evidence in favor of CSR mechanisms related to consumer markets, private politics, and public politics. (JEL D21, L21, M14) [PUBLICATION ABSTRACT] This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore whether CSR should exist and investigate conditions when CSR may produce higher welfare than other public good provision channels. We also explore why CSR does exist. Here, we integrate theoretical predictions with empirical findings from economic and noneconomic sources. We find limited systematic empirical evidence in favor of CSR mechanisms related to induced innovation, moral hazard, shareholder preferences, or labor markets. In contrast, we uncover consistent empirical evidence in favor of CSR mechanisms related to consumer markets, private politics, and public politics. This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore whether CSR should exist and investigate conditions when CSR may produce higher welfare than other public good provision channels. We also explore why CSR does exist. Here, we integrate theoretical predictions with empirical findings from economic and noneconomic sources. We find limited systematic empirical evidence in favor of CSR mechanisms related to induced innovation, moral hazard, shareholder preferences, or labor markets. In contrast, we uncover consistent empirical evidence in favor of CSR mechanisms related to consumer markets, private politics, and public politics. (JEL D21, L21, M14) |
| Author | Kitzmueller, Markus Shimshack, Jay |
| Author_xml | – sequence: 1 givenname: Markus surname: Kitzmueller fullname: Kitzmueller, Markus – sequence: 2 givenname: Jay surname: Shimshack fullname: Shimshack, Jay |
| BackLink | http://www.econis.eu/PPNSET?PPN=715174843$$DView this record in ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften |
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| CODEN | JECLB3 |
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| ContentType | Journal Article |
| Copyright | Copyright © 2011 American Economic Association Copyright American Economic Association Mar 2012 |
| Copyright_xml | – notice: Copyright © 2011 American Economic Association – notice: Copyright American Economic Association Mar 2012 |
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| DOI | 10.1257/jel.50.1.51 |
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| Snippet | This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy... |
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| SubjectTerms | Arbeitsbedingungen Business structures Consumers Corporate responsibility Corporate Social Responsibility Economic regulation Economic theory Economics Empirical evidence Empirical research Environmental regulation Externality Game theory Gewinn Green economics Industrial regulation Innovation Labour market Marketing Moral Hazard Nichtregierungsorganisation Politics Public goods Social responsibility Society Stakeholder Stockholders Taxonomy Theorie Öffentliche Güter |
| Title | Economic Perspectives on Corporate Social Responsibility |
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