The DOI matches its Crossref record; 50 of the 50 references it cites were found in a registry or an index.
Taking Friedman Seriously: Maximizing Profits and Social Performance*
Abstract
abstract This paper examines the situation of firms that have two objectives: profit maximization and social performance. By looking comparatively at the cases of altruism, coerced egoism, and strategy, this paper uses the tools of microeconomics to define the optimal level of social output that should be produced in each case. We show that it is wiser for the firm to act strategically than to be coerced into making investments in corporate social responsibility. In addition, we argue that greater overall social output will be achieved by the strategic approach, than by the altruistic approach.
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Citations
Cites
Firm Resources and Sustained Competitive Advantage
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The Theory of Industrial Organization
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Capitalism and Freedom: Fortieth Anniversary Edition
Friedman, M. (2002) · University of Chicago Press eBooks · doi:10.7208/chicago/9780226264189.001.0001 · Cited by 8,225
A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance
Clarkson, M. B. E. (1995) · The Academy of Management Review · doi:10.2307/258888 · Cited by 7,838
Corporate Social and Financial Performance: A Meta-Analysis
Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003) · Organization Studies · doi:10.1177/0170840603024003910 · Cited by 7,641
Corporate Social Responsibility: a Theory of the Firm Perspective
McWilliams, A., & Siegel, D. (2001) · The Academy of Management Review · doi:10.5465/amr.2001.4011987 · Cited by 7,567
The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications
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A Natural-Resource-Based View of the Firm
Hart, S. L. (1995) · Academy of Management Review · doi:10.5465/amr.1995.9512280033 · Cited by 5,174
Corporate Social Performance Revisited
Wood, D. J. (1991) · The Academy of Management Review · doi:10.2307/258977 · Cited by 5,093
A RESOURCE-BASED PERSPECTIVE ON CORPORATE ENVIRONMENTAL PERFORMANCE AND PROFITABILITY.
RUSSO, M. V., & FOUTS, P. A. (1997) · Academy of Management Journal · doi:10.2307/257052 · Cited by 4,805
Cited by
Corporate Social Responsibility: Strategic Implications*
McWilliams, A., Siegel, D. S., & Wright, P. M. (2006) · Journal of Management Studies · doi:10.1111/j.1467-6486.2006.00580.x · Cited by 3,154
Corporate social responsibility or CEO narcissism? CSR motivations and organizational performance
Petrenko, O. V., Aime, F., Ridge, J., & Hill, A. (2016) · Strategic Management Journal · doi:10.1002/smj.2348 · Cited by 991
Determinants of voluntary CSR disclosure: empirical evidence from Germany
Gamerschlag, R., Möller, K., & Verbeeten, F. (2011) · Review of Managerial Science · doi:10.1007/s11846-010-0052-3 · Cited by 926
Trade‐offs in corporate sustainability: you can't have your cake and eat it
Hahn, T., Figge, F., Pinkse, J., & Preuss, L. (2010) · Business Strategy and the Environment · doi:10.1002/bse.674 · Cited by 732
Rawhouser, H., Cummings, M., & Newbert, S. L. (2019) · Entrepreneurship Theory and Practice · doi:10.1177/1042258717727718 · Cited by 555
Metadata
- Authors
- Husted, B. W., & De Jesus Salazar, J.
- Venue
- Journal of Management Studies
- Publisher
- Wiley
- Published
- 2006-01
- Volume
- 43
- Issue
- 1
- Pages
- 75-91
- ISSN
- 0022-2380 (ISSN-L)
- 1467-6486
- OpenAlex
- W2125592905
- Cited by
- 688
- References
- 50
- FWCI
- 88.14
- Type
- journal article
- Language
- en
- Open access
- closed
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- Husted, B. W., & De Jesus Salazar, J. (2006). Taking Friedman Seriously: Maximizing Profits and Social Performance*. Journal of Management Studies. https://doi.org/10.1111/j.1467-6486.2006.00583.x
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
