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David Henderson on Corporate Social Responsibility and the Role of Business Today

In: Corporate Governance in the US and Europe

Author

Listed:
  • Geoffrey Owen

    (Interdisciplinary Institute of Management, London School of Economics and Political Science)

  • Tom Kirchmaier

    (Interdisciplinary Institute of Management, London School of Economics and Political Science)

  • Jeremy Grant

    (Graduate Institute of International Studies)

Abstract

Defenders of corporate social responsibility argue that firms should widen their objective to include the society and the environment at large, besides their objective to maximise the return on capital. The argument is that by gaining a better reputation through CSR, firms will improve their longterm advantage. Henderson pointed out that it is not at all clear that firms serve their society better by including a notion of society and environment as a company’s objective. In addition, as these objectives are not developed in a political process, there is the risk of capture by interest groups. This will eventually lead to the misallocation of capital and substantial costs for society.

Suggested Citation

  • Geoffrey Owen & Tom Kirchmaier & Jeremy Grant, 2006. "David Henderson on Corporate Social Responsibility and the Role of Business Today," Palgrave Macmillan Books, in: Corporate Governance in the US and Europe, chapter 14, pages 79-83, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51245-0_14
    DOI: 10.1057/9780230512450_14
    as

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