Title: Towards more effective corporate social responsibility initiatives

Authors: Mohamed Ihab Kira

Addresses: Department of Financial Management and Accounting, Arab Academy for Science, Technology and Maritime Transport, Dokki Branch, 23 Dr. El-Sobky St., Dokki, Giza, Egypt

Abstract: Effective corporate social responsibility initiatives should have an impact on corporate governance and can advance the cause of reconciliation of the shareholder value perspective with a stakeholder value perspective. It is important for the reconciliatory mechanisms to be embraced by management and owners of firms. The paper explores an explicit reconciliatory mechanism that can provide benefits to both shareholders and consumers. In a nutshell, the mechanism provides increasing equity ownership benefits, for consumers, in return for increasing patronage. Potential effects include: reducing economic inequality, a return to quality products and reduction of economic waste, and lower burdens on government budgets if the mechanism is widely adopted.

Keywords: corporate governance; stakeholders; consumers; corporate social responsibility; CSR initiatives; financialisation; reconciliatory mechanisms; labour; shareholder values; stakeholder values; equity ownership benefits; increasing patronage increase; economic inequality; product quality; waste reduction; government budgets.

DOI: 10.1504/IJSSS.2016.079152

International Journal of Society Systems Science, 2016 Vol.8 No.3, pp.240 - 255

Received: 14 Dec 2015
Accepted: 24 Mar 2016

Published online: 14 Sep 2016 *

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