Strategic use of CSR as a signal for good management

Luis Gomez - Mejia ()
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Luis Gomez - Mejia: Instituto de Empresa

Working Papers Economia from Instituto de Empresa, Area of Economic Environment

Abstract: More than thirty years of research exploring the link between corporate social responsibility (CSR) and corporate financial performance (CFP) could not provide a satisfying resolution to the tension exists between economic and social objectives. In this paper, we have contributed to the existing CSR literature both theoretically and empirically. On the theoretical side, we challenged the assumption that managers consider all stakeholders equally important and we contend that managers prioritize stakeholders instead. We also extend agency theory by suggesting that CSR may actually reduce monitoring costs since it has informative value about the quality of management.

Pages: 28 pages
Date: 2008-04
New Economics Papers: this item is included in nep-cse and nep-soc
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Persistent link: https://EconPapers.repec.org/RePEc:emp:wpaper:wp08-25

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