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The doctrine of corporate social responsibility: towards binding legal responsibility

Eishan Jan, Mohammad Naqib and Lawan Haruna, Abdulrashid (2016) The doctrine of corporate social responsibility: towards binding legal responsibility. Malayan Law Journal, 6. Ixxviii-xcii. ISSN 0025-1283

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Corporate social responsibility (CSR) is an all-encompassing phenomenon that recently draws the attention of many practitioners from business communities, environmental activists, human rights advocates and the international community. Corporations are business enterprises that are established with the main aim of providing profitable dividend to the shareholders at the end of every business year. However, profit maximization should not be the sole aim of a business enterprise, as such CSR attaches certain voluntary social responsibility on corporations. This stems from the increasing vital role of corporations in the political, social and economic spheres of human endeavors. Accordingly, CSR requires corporations to discharge certain social responsibility that enhances the welfare of the community and environment in which they operate. The paper examines the nexus that exists between CSR and other concepts such as sustainable development, corporate governance and social contract. It discusses CSR as a voluntary action to be taken by corporations though it has gradually started enjoying the flavor of law. The paper further argues that CSR has for long been under the influence of law and there are certain principles of law such as ‘legal personality’ and ‘neighbor principle’, which can be essential in providing legal framework for CSR. It is suggested that in certain cases there is need for a binding legislation to impose obligation and control over corporations in terms of CSR activities to be engaged in by the corporations.

Item Type: Article (Journal)
Additional Information: 2866/54416
Uncontrolled Keywords: Corporate social responsibility, law, environment, neighbourhood principle, legal personality
Subjects: K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law
Depositing User: Prof.Dr. Mohammad Naqib Ishan Jan
Date Deposited: 25 Jan 2017 11:53
Last Modified: 02 May 2023 15:03
URI: http://irep.iium.edu.my/id/eprint/54416

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