CSR and Stakeholder Theory: A Tale of Adam Smith [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 112 (2):301-312 (2013)
This article leverages insights from the body of Adam Smith’s work, including two lesser-known manuscripts—the Theory of Moral Sentiments and Lectures in Jurisprudence —to help answer the question as to how companies should morally prioritize corporate social responsibility (CSR) initiatives and stakeholder claims. Smith makes philosophical distinctions between justice and beneficence and perfect and imperfect rights, and we leverage those distinctions to speak to contemporary CSR and stakeholder management theories. We address the often-neglected question as to how far a company should be expected to go in pursuit of CSR initiatives and we offer a fresh perspective as to the role of business in relation to stakeholders and to society as a whole. Smith’s moral insights help us to propose a practical framework of legitimacy in stakeholder claims that can help managers select appropriate and responsible CSR activities.
|Keywords||Adam Smith Beneficence Corporate social responsibility Justice Perfect rights Stakeholders|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
Edward W. Coker (1990). Adam Smith's Concept of the Social System. Journal of Business Ethics 9 (2):139 - 142.
Kristen Bell DeTienne & Lee W. Lewis (2005). The Pragmatic and Ethical Barriers to Corporate Social Responsibility Disclosure: The Nike Case. [REVIEW] Journal of Business Ethics 60 (4):359 - 376.
R. Edward Freeman (1994). The Politics of Stakeholder Theory. Business Ethics Quarterly 4 (4):409-421.
Elisabet Garriga & Domènec Melé (2004). Corporate Social Responsibility Theories: Mapping the Territory. [REVIEW] Journal of Business Ethics 53 (1-2):51-71.
T. Jones, A. Wicks & R. Edward Freeman (2002). Stakeholder Theory: The State of the Art. In Norman E. Bowie (ed.), The Blackwell Guide to Business Ethics. Blackwell. 19--37.
Citations of this work BETA
Najah Attig, Sadok El Ghoul, Omrane Guedhami & Jungwon Suh (2013). Corporate Social Responsibility and Credit Ratings. Journal of Business Ethics 117 (4):679-694.
Similar books and articles
C. B. Bhattacharya, Daniel Korschun & Sankar Sen (2009). Strengthening Stakeholder–Company Relationships Through Mutually Beneficial Corporate Social Responsibility Initiatives. Journal of Business Ethics 85 (2):257 - 272.
Dima Jamali (2008). A Stakeholder Approach to Corporate Social Responsibility: A Fresh Perspective Into Theory and Practice. [REVIEW] Journal of Business Ethics 82 (1):213 - 231.
Angeloantonio Russo & Francesco Perrini (2010). Investigating Stakeholder Theory and Social Capital: Csr in Large Firms and Smes. [REVIEW] Journal of Business Ethics 91 (2):207 - 221.
Adam Lindgreen, Valérie Swaen & Timothy T. Campbell (2009). Corporate Social Responsibility Practices in Developing and Transitional Countries: Botswana and Malawi. [REVIEW] Journal of Business Ethics 90 (3):429 - 440.
Adam Lindgreen, Valérie Swaen & Wesley J. Johnston (2009). Corporate Social Responsibility: An Empirical Investigation of U.S. Organizations. [REVIEW] Journal of Business Ethics 85 (2):303 - 323.
Krista Bondy, Jeremy Moon & Dirk Matten (2012). An Institution of Corporate Social Responsibility (CSR) in Multi-National Corporations (MNCs): Form and Implications. [REVIEW] Journal of Business Ethics 111 (2):281-299.
Hoje Jo & Maretno A. Harjoto (2012). The Causal Effect of Corporate Governance on Corporate Social Responsibility. Journal of Business Ethics 106 (1):53-72.
Xiaohua Yang & Cheryl Rivers (2009). Antecedents of CSR Practices in MNCs' Subsidiaries: A Stakeholder and Institutional Perspective. [REVIEW] Journal of Business Ethics 86 (2):155 - 169.
Dima Jamali (2008). MNCs, CSR and Developing Countries. Proceedings of the International Association for Business and Society 19:172-183.
Simon Knox, Stan Maklan & Paul French (2005). Corporate Social Responsibility: Exploring Stakeholder Relationships and Programme Reporting Across Leading FTSE Companies. [REVIEW] Journal of Business Ethics 61 (1):7 - 28.
James A. H. S. Hine & Lutz Preuss (2009). “Society is Out There, Organisation is in Here”: On the Perceptions of Corporate Social Responsibility Held by Different Managerial Groups. [REVIEW] Journal of Business Ethics 88 (2):381 - 393.
Irene Pollach (2011). Online Privacy as a Corporate Social Responsibility: An Empirical Study. Business Ethics 20 (1):88-102.
Cyrlene Claasen & Julia Roloff (2012). The Link Between Responsibility and Legitimacy: The Case of De Beers in Namibia. [REVIEW] Journal of Business Ethics 107 (3):379-398.
Francesco Perrini (2006). SMEs and CSR Theory: Evidence and Implications From an Italian Perspective. [REVIEW] Journal of Business Ethics 67 (3):305 - 316.
Supriti Mishra & Damodar Suar (2010). Does Corporate Social Responsibility Influence Firm Performance of Indian Companies? Journal of Business Ethics 95 (4):571 - 601.
Added to index2012-03-02
Total downloads11 ( #138,606 of 1,102,836 )
Recent downloads (6 months)2 ( #182,775 of 1,102,836 )
How can I increase my downloads?