Abstract

This paper demonstrates the role of the governance system and the governance structure in corporate social performance (CSP). By building on a longitudinal study in Dutch finance, it extends the CSP-model of Wood. The extension enables us to study the impact of the institutional environment and the characteristics of a governance structure on CSP. Furthermore, the study confirms Wood’s assumption that anticipating managers are critical in CSP. However, if stakeholders desire structural influence, the governance structure and the governance system offer important opportunities.