Corporate social responsibility as obligated internalisation of social costs

Andrew Johnston, Kenneth Amaeshi, Emmanuel Adegbite, Onyeka Osuji

Research output: Contribution to journalArticlepeer-review

Abstract

We propose that corporations should be subject to a legal obligation to identify and internalise their social costs or negative externalities. Our proposal reframes corporate social responsibility (CSR) as obligated internalisation of social costs, and relies on reflexive governance through mandated hybrid fora. We argue that our approach advances theory, as well as practice and policy, by building on and going beyond prior attempts to address social costs, such as prescriptive government regulation, Coasian bargaining and political CSR.
Original languageEnglish
JournalJournal of Business Ethics
Early online date1 Nov 2019
DOIs
Publication statusE-pub ahead of print - 1 Nov 2019

Keywords

  • corporate social responsibility
  • externalities
  • reflexive law
  • reflexive governance
  • hybrid fora
  • social costs

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