Definition
Corporate responsibility – law interactions are the set of relationships between conceptions of corporate responsibility and relatively formal institutions of hard law and soft law affecting the role of business in achievement of the UN Sustainable Development Goals (SDGs) and other broader expectations for environmental, social, and stakeholder responsibilities.
Introduction
The SDGs of September 2015 – the “2030 Agenda” target date – apply to developed and developing countries. The 2030 Agenda addresses 17 key issues in economic, environmental, and social development. The ultimate target is increased human welfare – especially in developing countries. Some issues bear directly on corporate responsibility (listed in an alphabetical order): climate change, innovation and infrastructure, partnerships, responsible consumption and production, and work and economic growth. All businesses have an explicit role in each of these issues. Other goals are less directly linked to...
This is a preview of subscription content, log in via an institution.
References
Almatrooshi S, Hussain M, Ajmal M, Tehsin M (2018) Role of public policies in promoting CSR: empirical evidence from business and civil society of UAE. Corp Gov Int J Bus Soc 18:1107–1123. https://doi.org/10.1108/CG-08-2017-0175
Bantekas I (2004) Corporate social responsibility in international law. Boston Univ Int Law J 22:309–347. http://www.bu.edu/law/journals-archive/international/volume22n2/documents/309-348.pdf
Baron DP (2001) Private politics, corporate social responsibility, and integrated strategy. J Econ Mgmt Strat 10:7–45. https://doi.org/10.1111/j.1430-9134.2001.00007.x
Berger-Walliser G, Scott I (2018) Redefining corporate social responsibility in an era of globalization and regulatory hardening. Am Bus Law J 55:167–218. https://doi.org/10.1111/ablj.12119
Bliss RT (2015) Shareholder value and CSR: friends or foes? How to practice corporate social responsibility while maintaining shareholder value and without sacrificing analytical rigor. http://ww2.cfo.com/risk-management/2015/02/shareholder-value-csr-friends-foes/
Bozhikin I, Dentchev N (2018) Discovering a wilderness of regulatory mechanisms for corporate social responsibility: literature review. Econ Altern 12(2):145–174. https://www.unwe.bg/eajournal/en/journalissues/article/13890
Buhmann K (2006) Corporate social responsibility: what role for law? Some aspects of law and CSR. Corp Gov Int J Bus Soc 6:188–202. https://doi.org/10.1108/14720700610655187
Chattopadhyay A, Shaffer M, Wang CCY (2018) Governance through shame and aspiration: index creation and corporate behavior. Harvard Business School Accounting & Management Unit Working Paper No. 18-010.https://doi.org/10.2139/ssrn.3010188
Chhabra E (2014) Corporate social responsibility: should it be a law? https://www.forbes.com/sites/eshachhabra/2014/04/18/corporate-social-responsibility-should-it-be-a-law/#202c49e83736
Choller P, Sandwidi BW (2018) CSR engagement and financial risk: a virtuous circle? International evidence. Glob Finan J 38:65–81. https://doi.org/10.1016/j.gfj.2018.03.004
Coff RW (1999) When competitive advantage doesn't lead to performance: the resource-based view and stakeholder bargaining power. Organ Sci 10:119–133. http://www.jstor.org/stable/2640307
Dyck A, Lins KV, Roth L, Wagner HF (2019) Do institutional investors drive corporate social responsibility? International evidence. J Financ Econ 131:693–714. https://doi.org/10.1016/j.jfineco.2018.08.013
Friedman M (1970) The social responsibility of business is to increase its profits. NY Times Mag Sept 13: 32–33, 122, 124, 126. https://www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-the-social-responsibility-of-business-is-to.html
Garg R, Ambrosius J (2018) Whoever said corporations do not care? Evidence of CSR from India. Int J Indian Cult Bus Manag 16:206–222. https://doi.org/10.1504/IJICBM.2018.090090
Gatti L, Vishwanath B, Seele P, Cottier B (2018) Are we moving beyond voluntary CSR? Exploring theoretical and managerial implications of mandatory CSR resulting from the new Indian Companies Act. J Bus Ethics. https://doi.org/10.1007/s10551-018-3783-8
Gautam V (2018) Corporate social responsibility in India: truth behind legal façade. Int J Res Cult Soc 2:233–238. http://ijrcs.rcsjournals.org/wp-content/uploads/201802046.pdf
Gjølberg M (2011) Explaining regulatory preferences: CSR, soft law, or hard law? Insights from a survey of Nordic pioneers in CSR. Bus Polit 13:1–31. https://doi.org/10.2202/1469-3569.1351
Graafland J (2018) Does corporate social responsibility put reputation at risk by inviting activist targeting? An empirical test among European SMEs. CSR Environ Manag 25:1–13. https://doi.org/10.1002/csr.1422
Gribnau H, Enden E, Baisalbayeva K (2018) Codes of conduct as a means to manage ethical tax governance. Intertax 46(5):390–407
Ibanga D-A (2018) Is there a social contract between the firm and community: revisiting the philosophy of corporate social responsibility? Int J Dev Sustain 7:355–380. https://isdsnet.com/ijds-v7n1-24.pdf
Knudsen JS (2018) Government regulation of international corporate social responsibility in the US and the UK: how domestic institutions shape mandatory and supportive initiatives. Br J Ind Relat 56:164–188. https://doi.org/10.1111/bjir.12253
Kottasová I (2017, July 25) Gold mining firm slapped with tax bill 190 times its annual revenue. Retrieved July 2, 2018 from http://money.cnn.com/2017/07/25/investing/acacia-tanzania-gold-mine-tax-bill/index.html
Kudłak R, Szőcs I, Krumay B, Martinuzzi A (2018) The future of CSR – selected findings from a Europe-wide Delphi study. J Clean Prod 183:282–291. https://doi.org/10.1016/j.jclepro.2018.02.119
Liang H, Renneboog L (2018) Is corporate social responsibility an agency problem? In: Boubaker S, Cumming D, Nguyen DK (eds) Research handbook of finance and sustainability. Edgar Elgar, Cheltenham/Northampton
Manchiraju H, Rajgopal S (2017) Does corporate social responsibility (CSR) create shareholder value? Evidence from the Indian Companies Act 2013. J Acc Res 55:1257–1300. https://doi.org/10.1111/1475-679X.12174
Marques A, Srinivasan P (2018, revised June) When corporate social responsibility is an obligation: the unique case of India. WP No. 565. Indian Institute of Management, Bangalore. http://www.iimb.ac.in/sites/default/files/research/files/workingpaper/WP%20No.%20565%20%28Revised%20June%202018%29.pdf
Marquis C, Qian C (2014) Corporate social responsibility reporting in China: symbol or substance? Organ Sci 25:127–148. https://doi.org/10.1287/orsc.2013.0837
Matten D, Moon J (2008) “Implicit” and “explicit” CSR: a conceptual framework for a comparative understanding of corporate social responsibility. Acad Manag Rev 33:404–424. https://doi.org/10.5465/amr.2008.31193458
McBarnet D (2009) Corporate social responsibility beyond law, through law, for law. U of Edinburgh School of Law Working Paper No. 2009/03. https://doi.org/10.2139/ssrn.1369305
McWilliams A, Siegel D (2001) Corporate social responsibility: a theory of the firm perspective. Acad Manag Rev 26:117–127. https://doi.org/10.5465/amr.2001.4011987
Midttun A, Gjølberg M, Kourula A, Sweet S, Vallentin S (2015) Public policies for corporate social responsibility in four Nordic countries: harmony of goals and conflict of means. Bus Soc 54:464–500. https://doi.org/10.1177/0007650312450848
Miras-Rodríguez M, Di Pietra R (2018) Corporate governance mechanisms as drivers that enhance the credibility and usefulness of CSR disclosure. J Manag Gov. https://doi.org/10.1007/s10997-018-9411-2
Morris J, Baddache F (2012) The five W’s of France’s CSR reporting law. https://www.bsr.org/reports/The_5_Ws_of_Frances_CSR_Reporting_Law_FINAL.pdf
Mullerat R (2013) Corporate social responsibility: a European perspective. Miami-Florida European Union Center of Excellence, Jean Monnet/Robert Schuman Paper Series, 13(6), June. http://aei.pitt.edu/43368/1/Mullerat_CSR_Europa.pdf
Newman C, Rand J, Tarp F, Trifkovic N (2018) The transmission of socially responsible behaviour through international trade. Eur Econ Rev 101:250–267. https://doi.org/10.1016/j.euroecorev.2017.10.013
Noked N (2013) The corporate social responsibility report and effective stakeholder engagement. Harvard Law School Forum on Corporate Governance and Financial Regulation. https://corpgov.law.harvard.edu/2013/12/28/the-corporate-social-responsibility-report-and-effective-stakeholder-engagement/
Okoye A (2009) Theorising corporate social responsibility as an essentially contested concept: is a definition necessary? J Bus Ethics 89:613–627. https://doi.org/10.1007/s10551-008-0021-9
Pan X, Chen X, Ning L (2018) The roles of macro and micro institutions in corporate social responsibility (CSR) evidence from listed firms in China. Manag Decis 56:955–971. https://doi.org/10.1108/MD-05-2017-0530
Ronnegard D, Smith NC (2018) Shareholder primacy vs. stakeholder theory: the law as constraint and potential enabler of stakeholder concerns. INSEAD Working Paper No. 2018/15/ATL/Social Innovation Centre. https://ssrn.com/abstract=3165992
Rühmkorf A (2018) From transparency to due diligence laws? Variations in stringency of CSR regulation in global supply chains in the ‘home state’ of multinational enterprises. In: du Plessis JJ, Varottil U, Veldman J (eds) Globalisation of corporate social responsibility and its impact on corporate governance. Springer, Cham
Salvioni DM, Franzoni S, Gennari F, Cassano R (2018) Convergence in corporate governance systems and sustainability culture. Int J Bus Perform Manag 19:7–15. https://doi.org/10.1504/IJBPM.2018.088490
Scherer AG (2018) Theory assessment and agenda setting in political CSR: a critical theory perspective. Int J Manag Rev 20:387–410. https://doi.org/10.1111/ijmr.12137
Smith A (1759) The theory of moral sentiments. A Strahan and T Cadell, London
Steurer R (2010) The role of governments in corporate social responsibility: characterising public policies on CSR in Europe. Policy Sci 43:49–72. https://doi.org/10.1007/s11077-009-9084-4
Strand R, Freeman RE, Hockerts K (2015) Corporate social responsibility and sustainability in Scandinavia: an overview. J Bus Ethics 127:1–15. https://doi.org/10.1007/s10551-014-2224-6
Tang Y, Ma Y, Wong CW, Miao X (2018) Evolution of government policies on guiding corporate social responsibility in China. Sustainability 10(3):741 (open access). https://doi.org/10.3390/su10030741. http://www.mdpi.com/2071-1050/10/3/741
UN Global Compact (2018) All companies can play a role. https://www.unglobalcompact.org/sdgs/about. Accessed 2 Jul 2018
Varottil U (2018) Analysing the CSR spending requirements under Indian company law. In: du Plessis JJ, Varottil U, Veldman J (eds) Globalisation of corporate social responsibility and its impact on corporate governance. Springer, Cham
Walker K, Zhang Z, Ni N (2018) The mirror effect: corporate social responsibility, corporate social irresponsibility and firm performance in coordinated market economies and liberal market economies. Br J Manag. https://doi.org/10.1111/1467-8551.12271
Wilson JQ (1989) Adam Smith on business ethics. Calif Manag Rev 32:59–72. https://doi.org/10.2307/41166734
Yan M (2018) Corporate social responsibility vs. shareholder value maximization: through the lens of hard and soft law. Queen Mary School of Law Legal Studies Research Paper No. 280/2018. https://ssrn.com/abstract=3183279
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Section Editor information
Rights and permissions
Copyright information
© 2019 Springer Nature Switzerland AG
About this entry
Cite this entry
Windsor, D. (2019). Corporate Responsibility: Law Interactions. In: Leal Filho, W., Azul, A., Brandli, L., Özuyar, P., Wall, T. (eds) Partnerships for the Goals. Encyclopedia of the UN Sustainable Development Goals. Springer, Cham. https://doi.org/10.1007/978-3-319-71067-9_3-1
Download citation
DOI: https://doi.org/10.1007/978-3-319-71067-9_3-1
Received:
Accepted:
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-71067-9
Online ISBN: 978-3-319-71067-9
eBook Packages: Springer Reference Earth and Environm. ScienceReference Module Physical and Materials ScienceReference Module Earth and Environmental Sciences