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Cited by 1,116Corporate Social Responsibility ReportingCorporate Social Responsibility and SustainabilityEnvironmental Sustainability in Business

Economic Perspectives on Corporate Social Responsibility

Open access
Kitzmueller, Markus, Shimshack, Jay·2012·Journal of Economic Literature
DOI 10.1257/jel.50.1.51
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Abstract

This paper synthesizes the expanding corporate social responsibility (CSR) literature. We define CSR from an economic perspective and develop a CSR taxonomy that connects disparate approaches to the subject. We explore whether CSR should exist and investigate conditions when CSR may produce higher welfare than other public good provision channels. We also explore why CSR does exist. Here, we integrate theoretical predictions with empirical findings from economic and noneconomic sources. We find limited systematic empirical evidence in favor of CSR mechanisms related to induced innovation, moral hazard, shareholder preferences, or labor markets. In contrast, we uncover consistent empirical evidence in favor of CSR mechanisms related to consumer markets, private politics, and public politics. (JEL D21, L21, M14)

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  • CSR topics differ substantially across firms, industries, and countries.

    “The topics differ substantially across firms, industries, and countries.”

    From Mandatory CSR and sustainability reporting: economic analysis and literature review (2021) · cites this paper as Kitzmueller and Shimshack 2012

  • CSR reporting is multidimensional, which leads to a broad variety of disclosures and reporting formats and makes comparisons and standardization difficult.

    “As a result, CSR reporting is multidimensional in nature, which leads to a broad variety of disclosures and reporting formats and makes comparisons and standardization difficult (Kitzmueller and Shimshack 2012; Liang and”

    From Mandatory CSR and sustainability reporting: economic analysis and literature review (2021) · cites this paper as Kitzmueller and Shimshack 2012

  • Kitzmueller and Shimshack (2012) conclude that extant studies do not provide strong support for CSR having a positive effect on firm profitability.

    “Kitzmueller and Shimshack (2012) conclude in their literature review that extant studies do not provide strong support for CSR having a positive effect on firm profitability, pointing to, among others, Margolis et al. (2009), who perform a meta-analysis of 251 studies.”

    From Mandatory CSR and sustainability reporting: economic analysis and literature review (2021) · cites this paper as Kitzmueller and Shimshack 2012

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Authors
Kitzmueller, M., & Shimshack, J.
Affiliations
  • World Bank Group.
  • Tulane University (US)
ORCID
Shimshack, Jay
Venue
Journal of Economic Literature
Publisher
American Economic Association
Published
2012-03-01
Volume
50
Issue
1
Pages
51-84
ISSN
0022-0515 (ISSN-L)
DOI
10.1257/jel.50.1.51
OpenAlex
W2155976177
Cited by
1,116
References
8
Citations by year
2026: 58 · 2025: 94 · 2024: 85 · 2023: 88 · 2022: 110 · 2021: 84 · 2020: 106 · 2019: 106 · 2018: 75 · 2017: 74 · 2016: 54 · 2015: 63 · 2014: 54 · 2013: 40 · 2012: 19
FWCI
167.60
Type
journal article
Language
en
Open access
Locations
  • Journal of Economic Literature (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
  • Cadmus - EUI Research Repository (European University Institute) (submittedVersion, public-domain)
Funders
  • Massachusetts Institute of Technology
  • University of Cambridge
Topics
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
  • Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Corporate Social Responsibility and Sustainability
  • Social Sciences › Business, Management and Accounting › Marketing › Environmental Sustainability in Business
Keywords
corporate social responsibility, public goods provision, induced innovation, moral hazard, shareholder preferences, labor market, consumer market, private politics, public politics

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