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Chapter 11: The Influence of CEO Transformational Leadership on Firm-Level Commitment to Corporate Social Responsibility
11 The inﬂuence of CEO transformational leadership on ﬁrm-level commitment to corporate social responsibility David A. Waldman and Donald Siegel Introduction There is growing scholarly interest in assessing the antecedents and consequences of corporate social responsibility (CSR). Following the work of McWilliams and Siegel (2001), we deﬁne CSR as actions on the part of the ﬁrm that appear to advance, or acquiesce in the promotion of, some social good, beyond the immediate interests of the ﬁrm and its shareholders and beyond that which is required by law. Thus CSR involves using the ﬁrm’s resources to advance societal interests. CSR strategies may result in a company embodying socially responsible attributes in their products (such as the use of organic or pesticide-free ingredients) or also lead to situations where consumers are made aware of the fact that the good they are purchasing has been produced in a socially responsible manner (for example, when cosmetic ﬁrms report that ingredients in their products are not tested on animals). Other stakeholders, including employees, suppliers, community groups, government and some shareholders, may also derive satisfaction from a ﬁrm’s CSR actions. While a variety of motives could affect the propensity of ﬁrms to engage in CSR, management scholars have recently focused attention on instances when managers appear to be using CSR instrumentally. That is, they can promote CSR either for their own beneﬁt (Friedman, 1970; Wright and Ferris, 1997), which follows from agency theory, or to enhance ﬁrm proﬁtability, based on a resource-based...
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