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Modelling the trade-off between profits and principles

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  • Graafland, J.J.

Abstract

Corporations discover that social responsibility pays off. However, sometimes doing what is ethical will prove costly to a company. The purpose of this article is to clarify this trade-off by developing an economic model that describes the choice between profits and principles. The model is used to analyse how external factors like a change in consumer interests and competitiveness affect the relationship between profits and principles.

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File URL: http://mpra.ub.uni-muenchen.de/20752/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 20752.

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Date of creation: 2002
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Publication status: Published in De Economist 150.2(2002): pp. 129-154
Handle: RePEc:pra:mprapa:20752

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Related research

Keywords: Corporate social responsibility; ethics; competitiveness; profit maximisation; reputation; win-win;

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References

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  1. Judith F. Posnikoff, 1997. "Disinvestment From South Africa: They Did Well By Doing Good," Contemporary Economic Policy, Western Economic Association International, vol. 15(1), pages 76-86, 01.
  2. Diamond, Peter A, 1982. "Wage Determination and Efficiency in Search Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 49(2), pages 217-27, April.
  3. Holmlund, Bertil & Linden, Johan, 1993. "Job matching, temporary public employment, and equilibrium unemployment," Journal of Public Economics, Elsevier, vol. 51(3), pages 329-343, July.
  4. Hurley, Jeremiah, 2000. "An overview of the normative economics of the health sector," Handbook of Health Economics, in: A. J. Culyer & J. P. Newhouse (ed.), Handbook of Health Economics, edition 1, volume 1, chapter 2, pages 55-118 Elsevier.
  5. Catherine M. Paul & Donald Siegel, 2006. "Corporate social responsibility and economic performance," Journal of Productivity Analysis, Springer, vol. 26(3), pages 207-211, December.
  6. Graafland, J.J., 2001. "Profts and principles: Four perspectives," MPRA Paper 21134, University Library of Munich, Germany.
  7. Janet Adams & Armen Tashchian & Ted Shore, 2001. "Codes of Ethics as Signals for Ethical Behavior," Journal of Business Ethics, Springer, vol. 29(3), pages 199-211, February.
  8. Ried, Walter, 1998. "Comparative dynamic analysis of the full Grossman model," Journal of Health Economics, Elsevier, vol. 17(4), pages 383-425, August.
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Citations

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Cited by:
  1. Ven van de, B. & Graafland, J.J., 2006. "Strategic and moral motivation for corporate social responsibility," MPRA Paper 20278, University Library of Munich, Germany.
  2. Graafland, J.J. & Eijffinger, S.C.W. & Smid, H., 2004. "Benchmarking of corporate social responsibility: Methodological problems and robustness," MPRA Paper 20771, University Library of Munich, Germany.
  3. María González-Rodríguez & María Díaz-Fernández & Marek Pawlak & Biagio Simonetti, 2013. "Perceptions of students university of corporate social responsibility," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(4), pages 2361-2377, June.
  4. Graafland, J.J., 2003. "Distribution of responsibility, ability and competition," MPRA Paper 20731, University Library of Munich, Germany.
  5. Isaiah Marom, 2006. "Toward a Unified Theory of the CSP–CFP Link," Journal of Business Ethics, Springer, vol. 67(2), pages 191-200, August.
  6. Johan Graafland & Corrie Mazereeuw-Van Der Duijn Schouten, 2007. "The Heavenly Calculus and Socially Responsible Business Conduct: An Explorative Study among Executives," De Economist, Springer, vol. 155(2), pages 161-181, June.
  7. J.J. Graafland & H. Smid, 2004. "Reputation, Corporate Social Responsibility and Market Regulation," Review of Business and Economics, Katholieke Universiteit Leuven, Faculteit Economie en Bedrijfswetenschappen, vol. 0(2), pages 271-308.
  8. Jolejole, Christina B. & Swinton, Scott M. & Robertson, G. Philip & Syswerda, Sara P., 2009. "Profitability and Environmental Stewardship for Row Crop Production: Are There Trade-offs?," 2009 Conference, August 16-22, 2009, Beijing, China 50920, International Association of Agricultural Economists.

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