Individual and Corporate Social Responsibility

Jean Tirole and Bénabou, Roland

No 7559, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: Society?s demands for individual and corporate social responsibility as an alternative response to market and distributive failures are becoming increasingly prominent. We first draw on recent developments in the "psychology and economics" of prosocial behavior to shed light on this trend, which reflects a complex interplay of genuine altruism, social or self image concerns, and material incentives. We then link individual concerns to corporate social responsibility, contrasting three possible understandings of the term: the adoption of a more long-term perspective by firms, the delegated exercise of prosocial behavior on behalf of stakeholders, and insider-initiated corporate philanthropy. For both individuals and firms we discuss the benefits, costs and limits of socially responsible behavior as a means to further societal goals.

Keywords: Corporate social responsibility; Prosocial behavior; Shareholder value; Social image; Socially responsible investment (search for similar items in EconPapers)
JEL-codes: D64 D78 H41 L31 (search for similar items in EconPapers)
Date: 2009-11
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Related works:
Journal Article: Individual and Corporate Social Responsibility (2010)
Working Paper: Individual and Corporate Social Responsibility (2010)
Working Paper: Individual and Corporate Social Responsibility (2010)
Working Paper: Individual and Corporate Social Responsibility (2009)
Working Paper: Individual and Corporate Social Responsibility (2009)
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