Strategic Leadership in Corporate Social Responsibility

Autor:	Rui Albuquerque, Luis M. B. Cabral
Rok vydání:	2021
Předmět:	History Polymers and Plastics Enterprise value Theory of the firm Industrial and Manufacturing Engineering Microeconomics Strategic leadership Corporate social responsibility Coordination game Business Mission statement Business and International Management Value chain Stakeholder theory
Zdroj:	SSRN Electronic Journal.
ISSN:	1556-5068
DOI:	10.2139/ssrn.3925843
Popis:	We propose a strategic theory of Corporate Social Responsibility (CSR). Shareholder maximizers commit to a mission statement that extends beyond firm value maximiza- tion. This commitment leads firms (either product market competitors or complementors along the value chain) to change their actions in ways that ultimately favor shareholders. We thus provide a formal analysis of the "doing well by doing good" adage. We also pro- vide conditions such that the mission statement game has the nature of a pure coordination game. Our framework thus provides a natural theory of firm leadership in a CSR context: by selecting a CSR mission statement, a first mover effectively leads the industry to a Pareto optimal equilibrium.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::4338955b8a36a6a4897546a8ae901a4d https://doi.org/10.2139/ssrn.3925843 Zobrazit plný text záznamu