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The Economics of Corporate Environmental Responsibility

Author

Listed:
  • Crifo, Patricia
  • Sinclair-Desgagné, Bernard

Abstract

This paper surveys the economic literature on Corporate Environmental Responsibility (CER). It first defines and illustrates what CER is, and what it is not (namely green washing). It then examines various rationales for firms to implement CER programs: to respond to social pressure, pre-empt regulations, strategically differentiate from competitors, raise entry barriers, retain and motivate employees, lower the cost of capital, promote discipline and good governance, and foster innovation. Whether implementing CER enhances economic welfare is considered next. The paper ends by sketching what appear at this point to be some worthwhile research directions.

Suggested Citation

  • Crifo, Patricia & Sinclair-Desgagné, Bernard, 2014. "The Economics of Corporate Environmental Responsibility," International Review of Environmental and Resource Economics, now publishers, vol. 7(3-4), pages 279-297, December.
    • Handle: RePEc:now:jirere:101.00000063
    DOI: 10.1561/101.00000063
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    Citations

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    Cited by:

    1. Sylvaine Poret, 2019. "Corporate–NGO Partnerships through Sustainability Labeling Schemes: Motives and Risks," Sustainability, MDPI, vol. 11(9), pages 1-19, May.
    2. Zhang, Cui, 2017. "Political connections and corporate environmental responsibility: Adopting or escaping?," Energy Economics, Elsevier, vol. 68(C), pages 539-547.
    3. Ron Bird & Francesco Momenté & Francesco Reggiani, 2012. "The market acceptance of corporate social responsibility: a comparison across six countries/regions," Australian Journal of Management, Australian School of Business, vol. 37(2), pages 153-168, August.
    4. Rongjiang Cai & Tao Lv & Cheng Wang & Nana Liu, 2023. "Can Environmental Information Disclosure Enhance Firm Value?—An Analysis Based on Textual Characteristics of Annual Reports," IJERPH, MDPI, vol. 20(5), pages 1-21, February.
    5. Holger Görg & Aoife Hanley & Stefan Hoffmann and Adnan Seric, 2016. "When do multinational companies consider corporate social responsibility? A multi-country study in Sub-Saharan Africa," RSCAS Working Papers 2016/03, European University Institute.
    6. Jean-Stéphane Mésonnier, 2019. "Banks' climate commitments and credit to brown industries: new evidence for France," Working papers 743, Banque de France.

    More about this item

    Keywords

    Corporate environmental responsibility; Firm strategy; Market imperfections;
    All these keywords.

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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