Title: Corporate social responsibility as an element of good corporate governance - a chronology of its historical and contemporary development

Authors: Carolin Althoff

Addresses: Faculty of Economics and Business Administration, Chair of Business Administration, Auditing and Corporate Governance, Goethe-University Frankfurt/Main, Theodor-W.-Adorno-Platz 4, 60629 Frankfurt/Main, Germany

Abstract: Despite many years of dedicated debates on the concepts of corporate social responsibility (CSR) and corporate governance, the question of whether CSR can now be regarded as part of good corporate governance due to underlying changes has not yet been adequately answered. This paper addresses this question by providing a systematic historical literature overview of the concept of CSR before considering it in the context of corporate governance. In this regard, the concept of corporate governance is outlined, and the theoretical basis and corresponding definitions are presented, followed by a comparison of the two concepts. A critical appraisal, predominantly from a European perspective, situates the concepts within the current context and identifies possible problem areas and/or particular challenges that could lead to a new characterisation of CSR as part of good corporate governance.

Keywords: corporate social responsibility; CSR; corporate governance; stakeholder theory; stakeholder value; shareholder value; literature overview.

DOI: 10.1504/IJEA.2021.112782

International Journal of Economics and Accounting, 2021 Vol.10 No.1, pp.57 - 87

Received: 25 Sep 2019
Accepted: 01 Feb 2020

Published online: 02 Feb 2021 *

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