Corporate Social Responsibility: Strategic Implications

Journal of Management Studies (Impact Factor: 4.26). 02/2006; 43(1):1-18. DOI: 10.1111/j.1467-6486.2006.00580.x
Source: RePEc


We describe a variety of perspectives on corporate social responsibility (CSR), which we use to develop a framework for consideration of the strategic implications of CSR. Based on this framework, we propose an agenda for additional theoretical and empirical research on CSR. We then review the papers in this special issue and relate them to the proposed agenda. Copyright Blackwell Publishing Ltd 2006.

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Available from: Abagail Mcwilliams, Sep 29, 2015
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    • "[…] They assess the market demand for CSR and also evaluate the cost of satisfying this demand. […] CSR can be an integral element of a firm's business and corporate-level differentiation strategies (McWilliams et al. 2006, p. 6). "
    Journal of Business Ethics 08/2015; DOI:10.1007/s10551-015-2820-0 · 1.33 Impact Factor
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    • "Reflecting on broader debates within business and society literature about CSR and business contributions to local development (Slack 2011), the crux of the disagreement between critics and advocates of CSR relates to the nature and scope of these responsibilities. Critics have argued that CSR is an inefficient means of allocating scarce resources, and that business lacks the legitimacy and competency to take on any such responsibility outside its primary area of expertise (McWilliams et al. 2006; Coelho et al. 2003; Henderson 2001). Christian Aid (2004) further noted that companies undertake CSR as a form of insurance against disruption and reputational damage as well as to avoid mandatory regulation, rather than as a genuine attempt to facilitate development that benefits the poor and marginalised. "
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    ABSTRACT: Management and business literature affirm the role played by stakeholders in corporate social responsibility (CSR) practices as crucial, but what constitutes a true business–society partnership remains relatively unexplored. This paper aims to improve scholarly and management understanding beyond the usual managers’ perceptions on salience attributes, to include how stakeholders can acquire missing attributes to inform a meaningful partnership. In doing this, a model is proposed which conceptualises CSR practices and outcomes within the frameworks of stakeholder salience via empowerment, sustainable corporate social performances and partnership quality. A holistic discussion leads to generation of propositions on stakeholder salience management, corporate social performance, corporate–community partnership systems and CSR practices, which have both academic and management implications.
    Journal of Business Ethics 08/2015; DOI:10.1007/s10551-015-2805-z · 1.33 Impact Factor
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    • "As a consequence, the relationship between ESG performance and market value is expected to be negative. Second, in contrast, the value creation school regards ESG engagement as an instrument to generate competitive advantages and to improve nancial returns to shareholders (Alexander and Buchholz, 1978; Porter and VanDerLinde, 1995; McWilliams et al., 2006; Porter and Kramer, 2006). Therefore, the aforementioned relationship is expected to be positive. "
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    DESCRIPTION: This paper studies the effectiveness of a firm's strategy to report on its environmental, social and corporate governance (ESG) activities with regard to the extent and direction in which the firm's ESG performance gets valued by capital market investors. It is the first to disentangle different types of ESG reports and to analyze whether voluntarily following the current global trend of integrated report (IR) is worth the effort. Based on the empirical analysis of a large and diversified international set of exchange-listed firms, we find that ESG performance gets valued more strongly and in the (desired) positive direction in case a firm publishes an ESG report, irrespective of its type. Furthermore, results indicate that publishing an integrated report is not resulting in superior outcomes compared to a separate report. Similarly, signaling sustainability leadership by engaging in developing and moving towards an IR setup does not influence the value-relevance of ESG performance either. Our results are important for corporate managers as they help to understand investors' perception of ESG performance and provide guidance for formulating and evaluating the reporting strategy, accordingly.
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