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Corporate Social Responsibility, Corporate Governance, and Financial Performance: Lessons from Finance
內容大綱
Corporate social responsibility (CSR) looks at how firms treat their stakeholders. One key stakeholder group that is frequently overlooked is the firm's shareholders. All too often, the corporate social responsibility literature focuses on customers, employees, and the natural environment, but rarely on shareholders. The focus of this article is the impact of the firm on its shareholders as expressed through its corporate governance practices. If a firm can't treat its shareholders well, what hope is there for the other stakeholders? Herein, we argue that there are market forces at work which reinforce good CSR behavior.