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November 2018 (Revised January 2019)
Module Note

Responsibilities to Investors (Abridged)

By: Lena G. Goldberg and Joseph L. Badaracco

This note focuses on managers’ responsibilities—economic, legal, and ethical—to investors. In capitalist and some socialist economies, these responsibilities traditionally have been grounded in fiduciary duties and are typically part of the common law or statutory law... View Details

Keywords: Responsibilities To Investors; Investors; Responsibility; Business and Shareholder Relations; Management; Ethics

December 2014 (Revised April 2016)
Module Note

Responsibilities to Employees

By: Nien-he Hsieh

The note provides a framework to conceptualize managers' responsibilities to employees in relation to economic, legal and ethical considerations. The note frames the central ethical challenge for managers as exercising power in a fair manner. The fair exercise of power... View Details

Keywords: Leadership & Corporate Accountability; Legal Aspects Of Business; Responsibility; Ethics; Fairness; Employees; Decision Making; Leadership; Jobs and Positions; Labor; Law

2023
Book

Deeply Responsible Business: A Global History of Values-Driven Leadership

By: Geoffrey Jones

Corporate social responsibility has entered the mainstream, but what does it take to run a successful purpose-driven business? This book examines leaders who put values alongside profits to showcase the challenges and upside of deeply responsible business. Should... View Details

January 2023
Technical Note

LCA Action Planning: Responsibility and Accountability

By: Sandra J. Sucher and Marilyn Morgan Westner

LCA action plans integrate responsibility and accountability into decision-making and planning. This module note was designed for the LCA course and reviews six steps leaders can follow to develop a practical LCA action plan for their business. It shows how integrating... View Details

Keywords: Responsibility; Accountability; Management Challenges; Corporate Accountability; Leadership; Planning; Decisions; Strategy

March 2017 (Revised April 2021)
Module Note

Responsibilities to Society

By: Nien-hê Hsieh

This module note for students outlines an approach to help managers deliver on their responsibilities in relation to society. The approach frames these responsibilities in terms of potential harms to third parties beyond investors, customers, and employees. The... View Details

Keywords: Corporate Political Activity; Corporate Social Responsibility; Human Rights; Role Of Business In Society; Corporate Social Responsibility and Impact; Ethics; Business and Community Relations; Rights; Society

2014
Working Paper

Speaking of Corporate Social Responsibility

By: Hao Liang, Christopher Marquis, Luc Renneboog and Sunny Li Sun

We argue that the language spoken by corporate decision makers influences their firms' social responsibility and sustainability practices. Linguists suggest that obligatory future-time-reference (FTR) in a language reduces the psychological importance of the future.... View Details

Keywords: Language; Future-Time-Reference; Categories; Culture; Corporate Social Responsibility; Sustainability; Communication; Corporate Social Responsibility and Impact

Forthcoming
Article

The Allocation of Socially Responsible Capital

By: Daniel Green and Benjamin N. Roth

Portfolio allocation decisions increasingly incorporate social values. We develop a tractable framework to study how competition between investors to own socially valuable assets affects social welfare. Relative to the most common social-investing strategies, we... View Details

Keywords: Socially Responsible Investing; Investment Portfolio; Welfare; Social Issues; Investment Return

2019
Article

CEO Materialism and Corporate Social Responsibility

By: Robert Davidson, Aiyesha Dey and Abbie Smith

We study the role of individual CEOs in explaining corporate social responsibility (CSR) scores. We find that CEO fixed effects explain 59% of the variation in CSR scores, whereas firm fixed effects explain 2% of the variation in CSR scores. Specifically, firms led by... View Details

Keywords: Corporate Social Responsibility; Firm Performance; CEOs; Corporate Social Responsibility and Impact; Organizations; Performance

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2013
Article

The Medical Response to the Boston Marathon Bombings

By: Dutch Leonard and Arnold M. Howitt

Several factors combined in the aftermath of the bombings to facilitate the delivery of medical care. The authors highlight 10 elements of the emergency medical response that saved dozens of lives in Boston. View Details

Keywords: Boston Marathon Bombing; Emergency Medical Response; Health Care and Treatment; Crisis Management; Boston

2013
Article

Boston Marathon Bombing Response

By: Dutch Leonard and Arnold M. Howitt

Authors Herman B ‘Dutch’ Leonard and Arnold M Howitt say that 12 to 15 years prior, Boston would not have handled the Marathon bombings as effectively as it did in April 2013 in regard to internal institutional preparedness and ability to integrate effort among... View Details

Keywords: Boston Marathon Bombing; Disaster Response; Emergency Preparedness; Crisis Management; Integration; Boston

March 21, 2020
Editorial

When We're Wrong, It's Our Responsibility as Scientists to Say So

By: Ariella S. Kristal, A. V. Whillans, Max Bazerman, Francesca Gino, Lisa Shu, Nina Mazar and Dan Ariely

We tried to reproduce our 2012 paper on how to make people report their income more honestly—and we ended up refuting it. View Details

Keywords: Responsibility; Outcome or Result

July 2014 (Revised November 2014)
Module Note

Responsibilities to Society: The Capitalist's Contract

By: Karthik Ramanna

Societies face many pressing challenges with serious implications for business leaders. These include pollution and climate change, poverty and income inequality, obesity and public health, and corruption and regulatory capture. This note presents a way of analyzing... View Details

Keywords: Responsibilities To Society; The Capitalist's Contract; Leadership

May 2012
Course Overview Note

Managing Stakeholders with Corporate Social Responsibility

By: Christopher Marquis and Laura Velez Villa

This note articulates the ways in which strong stakeholder-company relationships developed through corporate social responsibility initiatives and other types of social strategies deliver bottom line benefits. The analysis follows stakeholder logic models connecting... View Details

Keywords: Business And Society; Social Responsibility; Stakeholder Management; Government And Business; Philanthropy; Business and Stakeholder Relations; Corporate Social Responsibility and Impact; Philanthropy and Charitable Giving; Revenue

2017
Chapter

Gapponshugi in Global Perspective: Debating the Responsibility of Capitalism

By: Geoffrey Jones

This chapter places the concepts of ethical capitalism developed by the 19th century Japanese venture capitalist Shibusawa Eiichi in a global historical perspective. The chapter reviews the similarities and differences over time and between countries of proponents of... View Details

Keywords: Corporate Responsibility; Business Ethics; Ethics; Business and Stakeholder Relations; Business History; Corporate Social Responsibility and Impact

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Article

Corporate Social Responsibility and Access to Finance

By: Beiting Cheng, Ioannis Ioannou and George Serafeim

In this paper, we investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance. We hypothesize that better access to finance can be attributed to a) reduced agency costs due to enhanced stakeholder... View Details

Keywords: Corporate Social Responsibility; Sustainability; Capital Constraints; ESG (Environmental, Social, Governance) Performance; Stakeholder Engagement; Disclosure; Corporate Disclosure; Corporate Social Responsibility and Impact; Environmental Sustainability; Capital

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February 2021
Article

How Transparency into Internal and External Responsibility Initiatives Influences Consumer Choice

By: Ryan W. Buell and Basak Kalkanci

Amid growing calls for transparency and social and environmental responsibility, companies are employing different strategies to improve consumer perceptions of their brands. Some pursue internal initiatives that reduce their negative social or environmental impacts... View Details

Keywords: Sustainable Operations; Corporate Social Responsibility; Operational Transparency; Corporate Social Responsibility and Impact; Operations; Environmental Sustainability; Consumer Behavior; Perception

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Spring 2021
Article

Corporate Resilience and Response During COVID-19

By: Alex Cheema-Fox, Bridget LaPerla, George Serafeim and Hui (Stacie) Wang

The coronavirus pandemic caused a sharp market decline while raising heterogeneous responses across companies related to their employees, supply chain, and repurposing of operations to provide needed products and services. We study whether during the 2020 COVID-19... View Details

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2014
Article

Corporate Social Responsibility Reporting in China: Symbol or Substance?

By: Christopher Marquis and Cuili Qian

This study focuses on how and why firms strategically respond to government signals regarding appropriate corporate activity. We integrate institutional theory and research on corporate political strategy to develop a political dependence model that explains (a) how... View Details

Keywords: Institutional Theory; Political Strategy; Non-market Strategy; China; Corporate Social Responsibility; Corporate Disclosure; Corporate Social Responsibility and Impact; Emerging Markets; Government and Politics; China

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November–December 2021
Article

Does Gender Matter? The Effect of Management Responses on Reviewing Behavior

By: Davide Proserpio, Isamar Troncoso and Francesca Valsesia

We study the effect of management responses on the reviewing behavior of self-identified female and male reviewers. Using data from Tripadvisor, we show that after hotels begin to respond to reviews, the probability that a negative review comes from a self-identified... View Details

Keywords: Word Of Mouth; Online Reviews; Management Responses; E-commerce; Gender; Prejudice and Bias; Digital Platforms; Customers

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July 1991 (Revised June 1993)
Background Note

Conflicting Responsibilities

By: Joseph L. Badaracco

Presents a framework for resolving issues in which managers' responsibilities--to shareholders, employees, other stakeholder groups, and to their own values and commitments in life--conflict with each other. The framework analyzes these issues in terms of duties,... View Details

Keywords: Ethics; Employees; Management Analysis, Tools, and Techniques; Management Practices and Processes; Organizational Structure; Personal Development and Career; Business and Shareholder Relations; Business and Stakeholder Relations

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