Idioma:

THE MACROECONOMIC EFFECTS OF CORPORATE SOCIAL RESPONSIBILITY

Wang, Wei-Neng

Academia economic papers, 2021-03, Vol.49 (1), p.121-162 [Periódico revisado por pares]

Texto completo disponível

Citações Citado por

Título:
THE MACROECONOMIC EFFECTS OF CORPORATE SOCIAL RESPONSIBILITY
Autor: Wang, Wei-Neng
Assuntos: Economic theory ; Economics ; Expenditures ; Macroeconomics ; Social responsibility
É parte de: Academia economic papers, 2021-03, Vol.49 (1), p.121-162
Descrição: This paper develops a dynamic general equilibrium model to analyze the macroeconomic and welfare effects of corporate social responsibility (CSR). Analytically, this paper shows that the effects of CSR on consumption, corporate value, and social welfare are ambiguous. The calibration results show that the steady-state corporate value and social welfare exhibit inverted U-shaped relationships with CSR. Moreover, an increase in CSR can result in a double dividend in terms of enhancing both corporate value and social welfare, provided that the status quo CSR expenditure is moderate. Also, the corporate-valuemaximizing CSR expenditure is lower than the welfare-maximizing CSR expenditure. From a policy implication's point of view, this paper demonstrates that although an increase in the tax-deductible ratio of CSR expenditure can improve social welfare, it will also distance the state from a welfare-maximizing scenario.
Editor: Taipei: Institute of Economics, Academia Sinica
Idioma: Chinês

Voltar para lista de resultados

Anterior Resultado 2 Avançar Ir para próxima página