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2 - The Values System Paradigm As a Regulatory Alternative to Stakeholder Needs CSR

from Part I - Regulation Concepts, Paradigms and Approaches for Corporate Social Responsibility

Published online by Cambridge University Press:  15 June 2023

Onyeka K. Osuji ,
Franklin N. Ngwu  and
Gary Lynch-Wood
By
Onyeka K. Osuji
Onyeka K. Osuji
Affiliation:
University of Essex
Franklin N. Ngwu
Affiliation:
Pan-Atlantic University Lagos Business School, Nigeria
Gary Lynch-Wood
Affiliation:
University of Manchester School of Law
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Summary

This chapter argues that ‘stakeholder needs’ and the ‘value system paradigm’ are alternative approaches to regulating corporate social responsibility (CSR). Drawing on Pound’s Theory of Social Interests and the institutional and stakeholder theories, it highlights the importance of contextualism in CSR and demonstrates that a values system paradigm may be a more suitable regulatory strategy, particularly in the developing and emerging markets. The chapter suggests that the stakeholder needs approach should be coupled with a values system paradigm for a more effective CSR when stakeholder responsiveness is desired.

Keywords

corporate social responsibilitycontextualisminstitutional theoryinstitutionsregulationself-regulationsocial interestsstakeholdersvalues
Type
Chapter
Information
Corporate Social Responsibility Across the Globe
Innovative Resolution of Regulatory and Governance Challenges
 , pp. 11 - 38
Publisher: Cambridge University Press
Print publication year: 2023

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