주주의 도덕경제:미국의 사회책임투자(SRI) 분석

초록

Today socially responsible investment(SRI) is increasingly emerging as an issue that demands a response from business community. Socially responsible investment is regarded as an important tool in embedding the way in which shareholders work for society. For company, trust from society would be a crucial social capital. In this respect, corporate social responsibility(CSR) is one of the best way in which a company can get trust from society. In this study, I seek to explain the growing influence of socially responsible investment in the US. This study introduced a new concept the moral economy of shareholders’ on socially responsible investment to explain relationships between the moral shareholders and the rational corporations. In particular, this study attempts to present the differences between the moral economy of the peasant and the market economy of shareholders. This research interest is centered around the development of corporate social responsibility and the figures of socially responsible investment, in the US. This study found that there is a major difference between the market economy of shareholders and the moral economy of shareholders: the moral economy of shareholders is no longer based on the self-interest maximization, but on the social exchange of reciprocity as in the moral economy of the peasant. This study found that the American firms regard corporate social responsibility as social investment so that social responsibility must be inherent in an organizations objective strategy. Also, this study found that the American institutional investors are interested in corporate social responsibility but they also pursue financial success.

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