Corporate governance and corporate social responsibility: A continuity perspective

The chapter provides an overview of corporate social responsibility (CSR), its historical evolution and contrasting views and definitions. In this context, we propose that the way in which a firm conceives its strategy in relation to its role in our society defines the continuity between corporate governance and CSR. We then discuss the key theoretical frames that have been used to study CSR: stakeholder and legitimacy theories. We provide an overview of both normative and positive arguments, and we proceed with explaining how notions of accountability aligned with a broad conceptualization of corporate governance allow to conceive CSR as a governance problem. Finally, we discuss the evolution of the role of CSR reporting, started as a voluntary practice that is nowadays increasingly regulated and under scrutiny.