Corporate social responsibility and the classical theory of the firm: Are both theories irreconcilable?
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| Formato: | Artículo científico |
| Lenguaje: | en |
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Universidad Nacional de Colombia
2010
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| _version_ | 1876466603928846336 |
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| author | Jesús García-de-Madariaga |
| author_facet | Jesús García-de-Madariaga |
| contents | Corporate social responsibility and the classical theory of the firm: Are both theories irreconcilable? Jesús García-de-Madariaga Fernando Rodríguez-de-Rivera-Cremades Administración y Contabilidad classical theory of firms stakeholders and market value corporate social responsibility There has been a lot of discussion about corporate social responsibility (CSR) during these last decades. Neoclassical authors support the idea that CSR is not compatible with the objective of profit maximization, and defenders of CSR argue that, in these times of globalization and network economies, the idea of a company managed just to meet shareholders' interests does not support itself. However, beyond this discussion, how can CSR affect firms' market value? If we found a positive relationship between these variables, we could conclude that the two theories are reconcilable and the objective of profit maximization, perhaps, should satisfy not only shareholders' interests, but also stakeholders'. We review previous literature and propose a model to analyze how CSR affects firms' market value. 2010 artículo científico 0121-5051 https://www.redalyc.org/articulo.oa?id=81818989002 en http://www.redalyc.org/revista.oa?id=818 INNOVAR. Revista de Ciencias Administrativas y Sociales application/pdf Universidad Nacional de Colombia INNOVAR. Revista de Ciencias Administrativas y Sociales (Colombia) Num.37 Vol.20 |
| format | Artículo científico |
| id | redalyc_81818989002 |
| institution | Redalyc |
| language | en |
| publishDate | 2010 |
| publisher | Universidad Nacional de Colombia |
| spellingShingle | Corporate social responsibility and the classical theory of the firm: Are both theories irreconcilable? Jesús García-de-Madariaga Administración y Contabilidad classical theory of firms stakeholders and market value corporate social responsibility Corporate social responsibility and the classical theory of the firm: Are both theories irreconcilable? Jesús García-de-Madariaga Fernando Rodríguez-de-Rivera-Cremades Administración y Contabilidad classical theory of firms stakeholders and market value corporate social responsibility There has been a lot of discussion about corporate social responsibility (CSR) during these last decades. Neoclassical authors support the idea that CSR is not compatible with the objective of profit maximization, and defenders of CSR argue that, in these times of globalization and network economies, the idea of a company managed just to meet shareholders' interests does not support itself. However, beyond this discussion, how can CSR affect firms' market value? If we found a positive relationship between these variables, we could conclude that the two theories are reconcilable and the objective of profit maximization, perhaps, should satisfy not only shareholders' interests, but also stakeholders'. We review previous literature and propose a model to analyze how CSR affects firms' market value. 2010 artículo científico 0121-5051 https://www.redalyc.org/articulo.oa?id=81818989002 en http://www.redalyc.org/revista.oa?id=818 INNOVAR. Revista de Ciencias Administrativas y Sociales application/pdf Universidad Nacional de Colombia INNOVAR. Revista de Ciencias Administrativas y Sociales (Colombia) Num.37 Vol.20 |
| title | Corporate social responsibility and the classical theory of the firm: Are both theories irreconcilable? |
| topic | Administración y Contabilidad classical theory of firms stakeholders and market value corporate social responsibility |
| url | https://www.redalyc.org/articulo.oa?id=81818989002 |