Corporate Social Responsibility from Friedman to Porter and Kramer


We analyze, from the viewpoint of value creation, the evolution of Corporate Social Responsibility (CSR) thought from Friedman critical view of CSR to Porter and Kramer “shared-value” proposition, emphasizing, at the same time, its parallelism with the evolution of asset valuation models from the viewpoint of common stocks value. On this basis, we show how CSR has adapted to value creation, the corporate goal that has substituted the old goal of profit maximization. A review of the studies about the impact of CSR on corporate financial performance complements this analysis.

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M. Bosch-Badia, J. Montllor-Serrats and M. Tarrazon, "Corporate Social Responsibility from Friedman to Porter and Kramer," Theoretical Economics Letters, Vol. 3 No. 3A, 2013, pp. 11-15. doi: 10.4236/tel.2013.33A003.

Conflicts of Interest

The authors declare no conflicts of interest.


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