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@article{ART002194575},
author={WOONHYUK JANG},
title={A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -},
journal={PHILOSOPHY·THOUGHT·CULTURE},
issn={1975-1621},
year={2017},
number={23},
pages={176-215}

TY - JOUR
AU - WOONHYUK JANG
TI - A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -
JO - PHILOSOPHY·THOUGHT·CULTURE
PY - 2017
VL - null
IS - 23
PB - Research Institute for East-West Thought
SP - 176
EP - 215
SN - 1975-1621
AB - In this paper, I point out the following: 1) the purpose of a corporation lies in the fair distribution of profit to all stakeholders, including shareholders and 2) it is the ultimate responsibility of the corporation to do so. It is called Corporate Social Responsibility (CSR). As an economic institution, a corporation has a responsibility to produce goods and services efficiently and to distribute the profit fairly to the members who have contributed and cooperated in the production. I define this responsibility as the principle of production cooperation. CSR can be characterized by the differences between two theories of corporate governance - shareholder theory and stakeholder theory. According to the shareholder theory, the CEO has the primary res-ponsibility of maximizing the interests of shareholders, so CSR should be considered to be a means to fulfill shareholder interests. On the other hand, according to the stakeholder theory, firms should be managed in the balanced interests of all stakeholder groups, including shareholders, employees, suppliers, the local community, and so on. Stakeholder theory coincides with the corporate institutional purpose and the principle of production cooperation. Therefore, in order to fully realize CSR, it is justified for corporate governance to be changed from shareholder theory to stakeholder theory. Then, the corporate governance that allows stakeholders to receive as much distribution as they contribute to corporate performance becomes ‘stakeholder democracy.’ Through stakeholder democracy, stakeholders have a right to participate in the composition of the board. What is expected of this corporate governance is that the board of directors can decide on the rationality to meet the interests of each stakeholder group and on the reasonability in which all stakeholders consent that it is a fair distribution. That is to say, the efficiency of production and the fairness of distribution are the ultimate purpose of the enterprise. Stakeholder democracy provides a justified background governance structure in which corporations can fulfill their responsibilities.
KW - Corporate Social Responsibility;the Purpose of Corporation;Distributive justice;Stakeholder Democracy
DO -
UR -
ER -

WOONHYUK JANG. (2017). A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -. PHILOSOPHY·THOUGHT·CULTURE, 23, 176-215.

WOONHYUK JANG. 2017, "A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -", PHILOSOPHY·THOUGHT·CULTURE, no.23, pp.176-215.

WOONHYUK JANG "A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -" PHILOSOPHY·THOUGHT·CULTURE 23 pp.176-215 (2017) : 176.

WOONHYUK JANG. A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -. 2017; 23 : 176-215.

WOONHYUK JANG. "A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -" PHILOSOPHY·THOUGHT·CULTURE no.23(2017) : 176-215.

WOONHYUK JANG. A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -. PHILOSOPHY·THOUGHT·CULTURE, 23, 176-215.

WOONHYUK JANG. A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -. PHILOSOPHY·THOUGHT·CULTURE. 2017; 23 176-215.

WOONHYUK JANG. A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -. 2017; 23 : 176-215.

WOONHYUK JANG. "A Study on The Relationship between Corporate Purpose and CSR - A Necessity for Change in Corporate Governance for Distribution Justice -" PHILOSOPHY·THOUGHT·CULTURE no.23(2017) : 176-215.