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Corporate Social Responsibility in a Corporate Governance Framework

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  • Yohanes E. Riyanto

    ()
    (Department of Economics, National University of Singapore)

  • Linda A. Toolsema

    ()
    (Department of Economics, University of Groningen,)

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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Bibliographic 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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Web page: http://www.fas.nus.edu.sg/ecs/index.html
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Keywords: Corporate Social Responsibility; Corporate governance; Stakeholder activism.;

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Citations

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Cited by:
  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.
  2. Emma Sjöström, 2008. "Shareholder activism for corporate social responsibility: what do we know?," Sustainable Development, John Wiley & Sons, Ltd., vol. 16(3), pages 141-154.
  3. Rekker, Saphira A.C. & Benson, Karen L. & Faff, Robert W., 2014. "Corporate social responsibility and CEO compensation revisited: Do disaggregation, market stress, gender matter?," Journal of Economics and Business, Elsevier, vol. 72(C), pages 84-103.

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