The relationship between governance, ethics and CSR: A theoretical investigation

  • Mourad ZAID National School of Business and Management, Hassan II University of Casablanca, Morocco
  • Karima MIALED National School of Business and Management, Hassan II University of Casablanca, Morocco
Keywords: orporate governance, corporate social responsibility, ethics, stakeholders, agency theory

Abstract

Today's companies are gaining more and more economic and social weight. this requires new models of governance more suited to the current context which has been constantly changing since the rise of capitalism. History has revealed that there is an endless evolution of corporate governance (CG) models that cannot be examined by a single theory.

Within this framework, this article attempts to examine CG from different theoretical perspectives based on a succinct, but rigorous review, of the literature on the range of theories dealing with this subject. Indeed, CG, taking the form of a system of coherent mechanisms, is constantly changing and evolving. These changes are induced by the dynamics of the internal and external environment of the company.  Therefore, it is important to revisit this system of CG in the light of the convergence of these theories and with a new angle, which has a multidimensional vision inviting the concepts of corporate social responsibility (CSR), transparency and ethical principles in order to satisfy the interests of all stakeholders.

Our paper has a double objective. Firstly, to carry out a narrative review of the key notions of our work, and secondly, to examine the theoretical relationship between the mechanisms of CG and CSR while highlighting the primordial role of the concept of ethics in this relationship. From this theoretical investigation emerges, the need for upgrades of governance models in companies as well as CSR approaches to be adopted for sustainable performance and value creation for all stakeholders.

 

Keywords: corporate governance, corporate social responsibility, ethics, stakeholders, agency theory

JEL Classification: G3

Paper Type: Theorical article.

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Published
2023-02-05
How to Cite
ZAID, M., & MIALED, K. (2023). The relationship between governance, ethics and CSR: A theoretical investigation. International Journal of Accounting, Finance, Auditing, Management and Economics, 4(1-1), 253-265. https://doi.org/10.5281/zenodo.7607570