Advanced Search
MyIDEAS: Login to save this paper or follow this series

Corporate Social Responsibility and Corporate Governance

Contents:

Author Info

  • Lorenzo Sacconi

    ()
    (Department of Economics, Universitˆ of Trento)

Abstract

Corporate social responsibility (CSR) is a model of corporate governance (CG) extending fiduciary duties from fulfillment of responsibilities towards the firmÕs Êowners to fulfillment of analogous Êfiduciary Êduties Êtowards Êall Êthe ÊfirmÕs Êstakeholders. After considering the place of CSR in the debate about alternative CG modes, a full-fledged social contract foundation of the multi-stakeholder and multi-fiduciary model is present. The paper shows that CSR is a social Ênorm Êthat Êwould Êendogenously Êemerge Êfrom Êthe ÊstakeholdersÕ Êsocial Êcontract Êseen Êas Ê the first move in an equilibrium selection process that reaches the equilibrium state of a CG institution. The social contract provides a model of the impartial mediating reasoning performed by a board of directors striving to balance different claims of stakeholders. It also allows deducing the multi-stakeholder objective function that socially responsible firms maximize, and then provides a specification of the particular fiduciary duties owed to each stakeholder according to its position.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://econometica.it/wp/wp38.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Econometica in its series Econometica Working Papers with number wp38.

as in new window
Length: 43
Date of creation: Jun 2012
Date of revision:
Handle: RePEc:ent:wpaper:wp38

Contact details of provider:
Postal: Università degli Studi di Milano-Bicocca, Edificio U9, Viale dell'Innovazione, 10, 20126 Milano
Phone: 0039 02 6448 6540
Email:
Web page: http://www.econometica.it
More information through EDIRC

Related research

Keywords: Agency theory; fiduciary duties; mediating hierarchy; social contract; social norms; stakeholders;

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Lorenzo Sacconi & Marco Faillo, 2008. "Conformity, reciprocity and the sense of justice. How social contract-based preferences and beliefs explain norm compliance: the experimental evidence," Department of Economics Working Papers 0814, Department of Economics, University of Trento, Italia.
  2. Binmore, Ken, 2005. "Natural Justice," OUP Catalogue, Oxford University Press, number 9780195178111, September.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Lorenzo Sacconi, 2010. "A Rawlsian View of CSR and the Game Theory of its Implementation (Part II): Fairness and Equilibrium," Econometica Working Papers wp23, Econometica.
  2. Degli Antoni, Giacomo & Sacconi, Lorenzo, 2013. "Social responsibility, activism and boycotting in a firm–stakeholders network of games with players’ conformist preferences," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 45(C), pages 216-226.
  3. Lorenzo Sacconi, 2011. "From individual responsibility to ÔsharedÕ social responsibilities: concepts for a new paradigm," Econometica Working Papers wp27, Econometica.
  4. Lorenzo Sacconi, 2011. "Multi-stakeholder governance for effectively sharing social responsibility 1 (social contracts, deliberative democracy and endogenous conformity)," Econometica Working Papers wp26, Econometica.
  5. Lorenzo Sacconi, 2012. "Ethics, Economic Organisation and the Social Contract," Econometica Working Papers wp41, Econometica.
  6. Omazic Mislav Ante & Vlahov Rebeka Danijela & Matesic Mirjana, 2013. "Difference Between Wish And Need -- Evidence Of Building Csr Index In Croatia," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 9(2), pages 111-120.
  7. Lorenzo Sacconi, 2012. "The Economics of Corporate Social Responsibility," Econometica Working Papers wp39, Econometica.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ent:wpaper:wp38. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Matteo Rizzolli).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.