Corporate social responsibility

Won-Yong Oh

Chapter 7 in Market Capitalism and Social Responsibility, 2026, pp 113-126 from Edward Elgar Publishing

Abstract: This chapter examines the evolution of Corporate Social Responsibility (CSR) from a narrow focus on profit maximization to a broader paradigm that integrates economic, legal, ethical, and philanthropic dimensions. Over time, CSR has expanded beyond philanthropy to encompass environmental protection, labor rights, supply chain accountability, and governance, ultimately converging into the measurable framework of ESG. The discussion highlights the tension between responsible practices and corporate irresponsibility (CSIR), emphasizing authenticity as a decisive factor in building trust. CSR is analyzed as both a moral obligation and a strategic asset, shaped by ethical expectations, competitive pressures, and institutional demands. Genuine engagement enhances reputation, investor confidence, and workforce loyalty, while superficial or “greenwashing” approaches erode legitimacy. Regional differences further illustrate how local contexts define responsible behavior. Ultimately, CSR and ESG are presented as essential components of corporate strategy, redefining the social contract between business and society in pursuit of sustainable growth.

Keywords: Corporate Social Responsibility; CSR; ESG; Shareholder Capitalism; Stakeholder Capitalism; Authenticity; Sustainability (search for similar items in EconPapers)
Date: 2026
ISBN: 9781049409207
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