Corporate Social Responsibility as Obligated Internalisation of Social Costs

Journal of Business Ethics, 2019

42 Pages Posted: 23 Jan 2020

See all articles by Andrew Johnston

Andrew Johnston

Warwick Law School

Kenneth Amaeshi

University of Edinburgh Business School; Cranfield University - School of Management

Emmanuel Adegbite

University of Nottingham

Onyeka K. Osuji

University of Exeter

Date Written: December 20, 2019

Abstract

We propose that corporations should be subject to a legal obligation to identify and internalise their social costs or negative externalities. Our proposal reframes corporate social responsibility (CSR) as obligated internalisation of social costs, and relies on reflexive governance through mandated hybrid fora. We argue that our approach advances theory, as well as practice and policy, by building on and going beyond prior attempts to address social costs, such as prescriptive government regulation, Coasian bargaining and political CSR.

Keywords: corporate social responsibility, externalities, reflexive law, reflexive governance, hybrid fora, social costs

Suggested Citation

Johnston, Andrew and Amaeshi, Kenneth and Adegbite, Emmanuel and Osuji, Onyeka K., Corporate Social Responsibility as Obligated Internalisation of Social Costs (December 20, 2019). Journal of Business Ethics, 2019, Available at SSRN: https://ssrn.com/abstract=3507416 or http://dx.doi.org/10.2139/ssrn.3507416

Andrew Johnston

Warwick Law School ( email )

Gibbet Hill Rd.
Coventry, West Midlands CV4 8UW
United Kingdom

HOME PAGE: http://https://warwick.ac.uk/fac/soc/law/people/andrew_r_johnston/

Kenneth Amaeshi

University of Edinburgh Business School ( email )

29 Buccleuch Place
Central Area
Edinburgh, Scotland EH8 9JS
United Kingdom

HOME PAGE: http://https://www.business-school.ed.ac.uk/about/people/738/Kenneth/Amaeshi

Cranfield University - School of Management ( email )

Bedfordshire, MK43 0AL
United Kingdom

Emmanuel Adegbite (Contact Author)

University of Nottingham ( email )

University Park
Nottingham, NG8 1BB
United Kingdom

Onyeka K. Osuji

University of Exeter ( email )

Northcote House
The Queen's Drive
Exeter, Devon EX4 4QJ
United Kingdom
+44 (0)1392 725268 (Phone)

HOME PAGE: http://socialsciences.exeter.ac.uk/law/staff/osuji/

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