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The Legal Origins of Corporate Social Responsibility

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Abstract

The legal origin literature documents that civil and common law traditions have different impact on rules and economic outcomes. We contribute to this literature by investigating the relationship between corporate social responsibility and legal origins. Consistently with the main differences in historical and legal backgrounds and net of industry specific effects, the common law origin has a significant and positive impact on the Corporate Governance and Community Involvement domains, while the French legal tradition of civil law on the Human Resources domain. We also document that the lack of observable differences in the environmental domain can be explained by firms' progressive convergence to industry sustainability standards.

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  • Leonardo Becchetti & Rocco Ciciretti & Pierluigi Conzo, 2013. "The Legal Origins of Corporate Social Responsibility," CEIS Research Paper 291, Tor Vergata University, CEIS, revised 04 Oct 2013.
    • Handle: RePEc:rtv:ceisrp:291
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    Cited by:

    1. Farah, Tazrina & Li, Jialong & Li, Zhicheng & Shamsuddin, Abul, 2021. "The non-linear effect of CSR on firms’ systematic risk: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 71(C).
    2. Xiaomeng Chen & Xiao Liang & Hai Wu, 2023. "Cross-Border Mergers and Acquisitions and CSR Performance: Evidence from China," Journal of Business Ethics, Springer, vol. 183(1), pages 255-288, February.
    3. Breuer, Wolfgang & Müller, Torbjörn & Rosenbach, David & Salzmann, Astrid, 2018. "Corporate social responsibility, investor protection, and cost of equity: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 34-55.
    4. Kleemann, Linda & Murphy-Bokern, Donal, 2014. "Reducing greenhouse gas emissions in the food sector: Effects of corporate responsibility," Kiel Working Papers 1967, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    Keywords

    legal origins; corporate social responsibility; environmental standards; corporate governance; civil law; common law;
    All these keywords.

    JEL classification:

    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • D60 - Microeconomics - - Welfare Economics - - - General

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