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http://ssrn.com/abstract=987962
 
 

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Corporate Social Responsibility in a Corporate Governance Framework


Yohanes E. Riyanto


Nanyang Technological University (NTU) - Division of Economics

Linda A. Toolsema


University of Groningen

May 10, 2007


Abstract:     
We argue that Corporate Social Responsibility (CSR) may affect the agency relationship inside a firm. We analyze how CSR and the threat of stakeholder activism influence effort of manager and shareholder, and describe how CSR may arise endogenously in this context. By engaging in CSR the shareholder can commit to less monitoring, increase the manager's effort, and raise profits. Even a socially indifferent shareholder may thus benefit from CSR and prefer to behave socially responsibly. He may even find it optimal to sponsor a social activist, giving it the means to exert pressure.

Number of Pages in PDF File: 33

Keywords: Corporate Social Responsibility, Corporate Governance, Stakeholder Activism

JEL Classification: G30, M14

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Date posted: May 23, 2007  

Suggested Citation

Riyanto, Yohanes E. and Toolsema, Linda A., Corporate Social Responsibility in a Corporate Governance Framework (May 10, 2007). Available at SSRN: http://ssrn.com/abstract=987962 or http://dx.doi.org/10.2139/ssrn.987962

Contact Information

Yohanes E. Riyanto (Contact Author)
Nanyang Technological University (NTU) - Division of Economics ( email )
HSS 04-53, 14 Nanyang Drive
Singapore, 639798
Singapore
Linda A. Toolsema
University of Groningen ( email )
P.O. Box 800
9700 AV Groningen
Netherlands
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