David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Proceedings of the International Association for Business and Society 17:133-138 (2006)
This paper explores the theory and illustrates the managerial implications of complete and incomplete markets for corporate strategy and corporate socialresponsibility. Market imperfections including externalities, asymmetric information or compromised competition motivate corporate social responsibility. At the same time, traditional approaches to corporate strategy based on industry analysis may imply exploiting or sustaining market imperfections. Assuming markets are complete complicates finding a theoretical basis for happily uniting CSR and above average profits. Assuming markets are incomplete undermines traditional industry analysis or resource-based approaches to corporate strategy because incomplete markets hinder accurate calculation of the net present value of different resource commitments. Cases illustrate how theories of firm performance based on incomplete markets provide a new managerial framework to guide strategy and improve social welfare
|Keywords||No keywords specified (fix it)|
|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
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Daniel R. Gilbert (1986). Corporate Strategy and Ethics. Journal of Business Ethics 5 (2):137 - 150.
Sylvia Maxfield (2008). Reconciling Corporate Citizenship and Competitive Strategy: Insights From Economic Theory. [REVIEW] Journal of Business Ethics 80 (2):367 - 377.
Frances Bowen (2007). Corporate Social Strategy: Competing Views From Two Theories of the Firm. [REVIEW] Journal of Business Ethics 75 (1):97 - 113.
Junwei Shi, Haiyan Fu & Lijun Hu (2007). Social Responsibility, Social Capital, and Corporate Competitive Advantage in Transitional China. International Corporate Responsibility Series 3:377-394.
Yan Leung Cheung, Weiqiang Tan, Hee-Joon Ahn & Zheng Zhang (2010). Does Corporate Social Responsibility Matter in Asian Emerging Markets? Journal of Business Ethics 92 (3):401 - 413.
Morgan P. Miles, Linda S. Munilla & Jenny Darroch (2006). The Role of Strategic Conversations with Stakeholders in the Formation of Corporate Social Responsibility Strategy. Journal of Business Ethics 69 (2):195 - 205.
Jacob Dahi Rendtorff (2007). The Idea of Corporate Social Responsibility. The Proceedings of the Twenty-First World Congress of Philosophy 1:111-117.
Jean-Pascal Gond (2005). Performing the Positive Relationship Between Corporate Social and Financial Performance. Proceedings of the International Association for Business and Society 16:118-123.
Bert van De Ven (2008). An Ethical Framework for the Marketing of Corporate Social Responsibility. Journal of Business Ethics 82 (2):339-352.
Thomas Hanke & Wolfgang Stark (2009). Strategy Development: Conceptual Framework on Corporate Social Responsibility. [REVIEW] Journal of Business Ethics 85 (3):507 - 516.
Andrea K. Young (2007). Using Industry Analysis to Develop Boundary Conditions for Responding to the Social Environment. Proceedings of the International Association for Business and Society 18:289-293.
Chi-Shiun Lai, Chih-Jen Chiu, Chin-Fang Yang & Da-Chang Pai (2010). The Effects of Corporate Social Responsibility on Brand Performance: The Mediating Effect of Industrial Brand Equity and Corporate Reputation. [REVIEW] Journal of Business Ethics 95 (3):457 - 469.
Nikolay A. Dentchev (2004). Corporate Social Performance as a Business Strategy. Journal of Business Ethics 55 (4):397 - 412.
S. Prakash Sethi (1994). Imperfect Markets: Business Ethics as an Easy Virtue. [REVIEW] Journal of Business Ethics 13 (10):803 - 815.
S. Prakash Sethi (2003). Globalization and the Good Corporation: A Need for Proactive Co-Existence. [REVIEW] Journal of Business Ethics 43 (1-2):21 - 31.
Added to index2012-09-18
Total downloads4 ( #406,001 of 1,725,863 )
Recent downloads (6 months)1 ( #348,716 of 1,725,863 )
How can I increase my downloads?