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Corporate Social Responsibility?Human Rights in the New Global Economy$
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Charlotte Walker-Said and John D. Kelly

Print publication date: 2015

Print ISBN-13: 9780226244273

Published to Chicago Scholarship Online: January 2016

DOI: 10.7208/chicago/9780226244440.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 29 March 2020

Law, Morality, and Rational Choice

Law, Morality, and Rational Choice

Incentives for CSR Compliance

(p.193) Chapter Nine Law, Morality, and Rational Choice
Corporate Social Responsibility?

Caroline Kaeb

University of Chicago Press

This paper sets the landscape of different incentives stirring corporate behavior in the realm of corporate social responsibility. It applies a behavioral economics perspective to CSR compliance in an effort to illustrate the important role of psychological payoffs in the compliance game and shed light on the interplay between legal and moral constraints. This paper cautions against an approach focusing merely on legal enforcement as the sole tool to stir incentives, which would ignore the power of the conscience of a corporation's human agents and constituents. Rather, one should recognize that law (as an external incentive) is only one driver for CSR compliance that can be effectively complemented by intrinsic motivation in the form of morality.

Keywords:   corporate compliance, human rights, alien tort statute, Kiobel, social contract, law and social norms, behavioral economics

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