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Corporate Social Responsibility in a Corporate Governance Framework

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Author Info
Yohanes E. Riyanto () (Department of Economics, National University of Singapore)
Linda A. Toolsema () (Department of Economics, University of Groningen,)

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Abstract

We argue that Corporate Social Responsibility (CSR) may affect the agency relationship inside a firm. We analyze how CSR and the threat of stakeholder activism influence effort of manager and shareholder, and describe how CSR may arise endogenously in this context. By engaging in CSR the shareholder can commit to less monitoring, increase the manager’s effort, and raise profits. Even a socially indifferent shareholder may thus benefit from CSR and prefer to behave socially responsibly. He may even find it optimal to sponsor a social activist, giving it the means to exert pressure.

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Publisher Info
Paper provided by National University of Singapore, Department of Economics in its series Departmental Working Papers with number wp0702.

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Length: 34 pages
Date of creation: May 2007
Date of revision:
Handle: RePEc:nus:nusewp:wp0702

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Related research
Keywords: Corporate Social Responsibility; Corporate governance; Stakeholder activism.;

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Find related papers by JEL classification:
G30 - Financial Economics - - Corporate Finance and Governance - - - General
M14 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Corporate Culture; Social Responsibility

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Cited by:
(explanations, 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.)

  1. Changhui Kang, 2007. "Does Money Matter? The Effect of Private Educational Expenditures on Academic Performance," Departmental Working Papers wp0704, National University of Singapore, Department of Economics. [Downloadable!]
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