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Corporate Social Responsibility and the Board’s Role in Switzerland

In: Board Directors and Corporate Social Responsibility

Author

Listed:
  • Pascal Gantenbein

    (University of Basel)

  • Christophe Volonté

    (University of Basel)

Abstract

Corporate social responsibility (CSR) is a way of conducting business that integrates the interests of all stakeholders, not only those of shareholders. Stakeholders include customers, employees, suppliers, distributors, regulators, politicians, the state, the ecology, and the community. Thereby, firms explicitly accept their responsibility to society as a whole. In consequence, CSR extends the spectrum of traditional corporate governance which aims to reduce wrong managerial behavior that counters shareholders’ interests arising from the principal-agent problem. In this agency context, shareholders have to be protected from managers who may use investor’s money for purposes other than maximizing shareholder return. For instance, managers may waste financial resources on unprofitable projects.

Suggested Citation

  • Pascal Gantenbein & Christophe Volonté, 2012. "Corporate Social Responsibility and the Board’s Role in Switzerland," Palgrave Macmillan Books, in: Sabri Boubaker & Duc Khuong Nguyen (ed.), Board Directors and Corporate Social Responsibility, chapter 11, pages 202-214, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-38930-4_11
    DOI: 10.1057/9780230389304_11
    as

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