Risk management, real options, corporate social responsibility

Journal of Business Ethics 60 (2):175 - 183 (2005)
The relationship of corporate social responsibility to risk management has been treated sporadically in the business society literature. Using real options theory, I develop the notion of corporate social responsibility as a real option its implications for risk management. Real options theory allows for a strategic view of corporate social responsibility. Specifically, real options theory suggests that corporate social responsibility should be negatively related to the firm’s ex ante downside business risk.
Keywords corporate social responsibility  real options  risk management
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DOI 10.2307/25075258
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