128x Filetype PPT File size 0.12 MB Source: www.arrunada.org
Outline ▪ Introduction ▪ Free-Market view (Friedman) ▪ US-Liberal view (Arrow) ▪ Contractual view ▪ Cognitive view Introduction CSR raises mix of positive and normative questions ▪ Positive ♦ How the firm is seen by society and stakeholders ♦ What is CSR? ♦ What does it entail? ▪ Normative ♦ What should society demand from firms? • Profits • Legal compliance • Ethical behavior • If ethical behavior, who should define it? ♦ In any case, how should firms react? The Free-Market View Free-Market View ▪ A. Smith: individual interest collective good See “A Map of CSR” next ▪ Friedman ‘70: firms should aim for profits within the law ♦ The law of which country now? ♦ Which checks and balances to define the law? ▪ Jensen ‘02: many objectives = no objective + more opportunism (e.g., managerial shirking) ♦ “Social” label as a disguise of private interests e.g., see CSR as sale of indulgences, in next slides
no reviews yet
Please Login to review.