Proceedings of the 1st International Conference on Sustainable Management and Innovation, ICoSMI 2020, 14-16 September 2020, Bogor, West Java, Indonesia

Research Article

Sustainable Corporate Social Responsibility In The New Normal Era And The Principal-Agent Problem

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  • @INPROCEEDINGS{10.4108/eai.14-9-2020.2304480,
        author={Muhammad  Baqir and Gu  Biao},
        title={Sustainable Corporate Social Responsibility In The New Normal Era And The Principal-Agent Problem},
        proceedings={Proceedings of the 1st International Conference on Sustainable Management and Innovation, ICoSMI 2020, 14-16 September 2020, Bogor, West Java, Indonesia},
        publisher={EAI},
        proceedings_a={ICOSMI},
        year={2021},
        month={5},
        keywords={covid-19 principle-agent problem social contract theory sustainable csr},
        doi={10.4108/eai.14-9-2020.2304480}
    }
    
  • Muhammad Baqir
    Gu Biao
    Year: 2021
    Sustainable Corporate Social Responsibility In The New Normal Era And The Principal-Agent Problem
    ICOSMI
    EAI
    DOI: 10.4108/eai.14-9-2020.2304480
Muhammad Baqir1,*, Gu Biao1
  • 1: Shanghai University, 99-Shangda Raod, Shanghai, China
*Contact email: m.baqir86@gmail.com

Abstract

The ethical standpoint of Sustainable Corporate Social Responsibility (SCSR) amid Covid-19, considering the principal-agent problem, is the objective of this study. According to the best of the knowledge of this author, there have not much been written about this problem. This paper is a summary of the definitions and explanation of the SCSR, business ethics, social contract, principal-agent problem, and a review conclusion based on the main literature available in hand. This paper’s literature survey studies the controversies that managers face while implementing SCSR, especially in times of the new normal, by the firm that they operate and decides for. The legitimacy and philosophy of SCSR practices are based on business ethics. The steps in between them are the reality of the principal-agent problem, the legitimacy through Social Contract Theory. Thus, the social contract provides legitimacy for business ethics and business ethics makes foundations for SCSR. This dire need, through this contribution, has been fulfilled to a primary literature survey that connects the dots between the points.