Corporate governance vs corporate social responsibility

  • How is corporate governance different from CSR?

    Where CSR refers to the self-governing activities of the company towards the society in which it functions, corporate governance is a form of internal regulations imposed by the managerial department on the whole company for a smooth internal functioning..

  • What is the difference between corporate social responsibility and corporate social responsibility?

    Social responsibility would speak to the responsibility of individuals in whatever aspect of life they were in.
    Corporate social responsibility is specific to the obligations of corporations (and the people in them) to their customers and communities and perhaps to future generations and to civilization..

  • What is the difference between social and corporate governance?

    One way to differentiate Corporate Social Responsibility (CSR) and Environmental Social Governance (ESG) is to think of CSR as driven by considerations and commitments internal to a corporation, and ESG as driven by external requirements, such as international frameworks and standards..

  • Corporate social responsibility states that businesses should not only look to gain profit but also benefit people and the environment.
    This essentially creates the triple bottom line that every company must strive to meet - profit, people, and the planet.
  • Social responsibility would speak to the responsibility of individuals in whatever aspect of life they were in.
    Corporate social responsibility is specific to the obligations of corporations (and the people in them) to their customers and communities and perhaps to future generations and to civilization.

Are CSR and corporate governance separate constructs?

Contrary to the view that CSR and CG are separate constructs, Kolk and Pinkse (2010) found that more than half of their sample of Fortune Global 250 companies have a designated section for corporate governance in their CSR report and/or explicitly discuss the link between corporate governance and CSR issues.

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Does corporate governance affect firm value?

During periods of negative economic uncertainty, Borghesi, Chang, and Li (2019) showed that firms with rigid corporate governance have lower firm value, whereas firms actively engaging in CSR activities have higher firm value.

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References

Chen, J. (2020, February 22).
Corporate Social Responsibility (CSR).
Investopedia. https://www.investopedia.com/terms/c/corp-social-responsibility.asp.
Porter, M.
E., & Kramer, M.
R. (2006).
Strategy and society: The Link Between Competitive Advantage and Corporate Social Responsibility.
Harvard Business Review, 84(12), 78-92.
Porter, M.
E., & Kram.

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What is Corporate Social Responsibility (CSR)?

CSR is similar to ESG, a process by which investors make decisions based on CSR programs and a company's environmental impact.
Corporate social responsibility is a way of doing business that aims to increase a company's social impact while meeting business objectives such as:

  • growth and revenue goals.
  • ,

    What Is Corporate Social Responsibility?

    As introduced early in this chapter, (CSR) “is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public.
    By practicing corporate social responsibility, also referred to simply as social responsibility, companies can be conscious of the kind of impact they are having on all aspects of .


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