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Profits and Corporate Philanthropy: An Economic Rationale for Dual Mission Firms

Managerial and decision economics, 2015-10, Vol.36 (7), p.439-455 [Peer Reviewed Journal]

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Title:
Profits and Corporate Philanthropy: An Economic Rationale for Dual Mission Firms
Author: Mao, Wen ; Pearce II, John A. ; Wasson, Renya Reed
Subjects: Business ; Business law ; Complement ; Corporate law ; Corporate social responsibility ; Demonstrations ; Economic models ; Economics ; Legal ; Maximization ; Mission statements ; Missions ; Philanthropy ; Private goods ; Profit maximization ; Rationality ; Social responsibility ; Studies
Is Part Of: Managerial and decision economics, 2015-10, Vol.36 (7), p.439-455
Description: This paper provides an economic rationale for corporate social responsibility. We develop a model of a dual mission firm that produces both a private good and a philanthropic good. By incorporating economies of scope arising from shared inputs into our model, we demonstrate that corporate social responsibility and profit maximization can complement each other. Supporters of new legal corporate forms that facilitate the creation of dual mission businesses have persuasive new evidence in support of hybrid firms.
Publisher: Chichester: Blackwell Publishing Ltd
Language: English
Identifier: ISSN: 0143-6570
EISSN: 1099-1468
DOI: 10.1002/mde.2680
CODEN: MDECDE
Source: Alma/SFX Local Collection

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