Regulation, Corporate Social Responsibility and Activism

Aleix Calveras · Juan‐José Ganuza · Gerard Llobet

65 citations0/0 files storedJournal of Economics & Management Strategy

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Corporate Social Responsibility Reporting Environmental Sustainability in Business Regulation and Compliance Studies

Abstract

This paper analyzes the interplay between firms' self‐regulation (often denoted as corporate social responsibility) as opposed to the formal regulation of a negative externality. Firms respond to increasing activism in the market (conscious consumers that take into account the external effects of their purchase) by providing more socially responsible goods. However, because regulation is the outcome of a political process, an increase in activism might imply an inefficiently high externality level. This may happen when a majority of non‐activist consumers collectively free‐ride on conscious consumers. By determining a softer than optimal regulation, they benefit from the behavior of firms, yet they have access to cheaper (although less efficient) goods.

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References

1979A Three-Dimensional Conceptual Model of Corporate Performance 2001Corporate Social Responsibility: A Theory of the Firm Perspective 2006Incentives and Prosocial Behavior 2001Do Consumers Expect Companies to be Socially Responsible? The Impact of Corporate Social Responsibility on Buying Behavior 2005Competition and Incentives with Motivated Agents 2001Private Politics, Corporate Social Responsibility, and Integrated Strategy 2003Selling to Socially Responsible Consumers: Competition and The Private Provision of Public Goods 1997Using a hierarchy-of-effects approach to gauge the effectiveness of corporate social responsibility to generate goodwill toward the firm: Financial versus nonfinancial impacts

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2020Noncooperative and Cooperative Environmental Corporate Social Responsibility 2013The NGO's Dilemma: How to Influence Firms to Replace a Potentially Hazardous Substance 2018Social movements and corporate political activity: Managerial responses to socially oriented shareholder activism 2012The Industrial Organization of Private Politics 2014

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