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False Dawn for CSR? Shifts in regulatory policy and the response of the corporate and financial sectors in Britain

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  • Simon Deakin

    (University of Cambridge)

  • Richard Hobbs

Abstract

We present a model of CSR as a set of mechanisms for aligning corporate behaviour with the interests of society in reducing externalities and promoting a sustainable corporate sector. These mechanisms include voluntary action by companies to go above minimum legal standards, with the aim of enhancing competitiveness ("action beyond compliance"); interventions by regulators designed to promote self-regulation by industry ("reflexive law"); and steps taken by shareholders to put pressure on companies to make effective use of corporate assets ("shareholder engagement"). We then assess the degree to which the model is realised in current British practice. Focusing on the issue of working conditions, we find managerial resistance to the linking of CSR with internal employee relations, and obstacles to shareholder engagement on this issue. Copyright (c) 2007 The Authors; Journal compilation (c) 2007 Blackwell Publishing Ltd.

Suggested Citation

  • Simon Deakin & Richard Hobbs, 2007. "False Dawn for CSR? Shifts in regulatory policy and the response of the corporate and financial sectors in Britain," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(1), pages 68-76, January.
  • Handle: RePEc:bla:corgov:v:15:y:2007:i:1:p:68-76
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    Cited by:

    1. Semenescu Andreea & Curmei Cătălin Valeriu, 2015. "Using CSR to mitigate information asymmetry in the banking sector," Management & Marketing, De Gruyter Open, vol. 10(4), pages 316-329, December.
    2. Windsor, Duane, 2009. "Tightening corporate governance," Journal of International Management, Elsevier, vol. 15(3), pages 306-316, September.
    3. Christian Voegtlin & Michelle Greenwood, 2016. "Corporate social responsibility and human resource management: A systematic review and conceptual analysis," Post-Print hal-01481479, HAL.

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