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Journal of Economics
AbstractWe analyze the effects of strategic Corporate Social Responsibility (CSR) on social welfare in an industry where firms are owned by consumers (publicly owned) and CSR commitment takes the form of a fraction of the consumer surplus into the firms' objective function. We compare this market configuration with the standard case of firms owned by entrepreneurs (privately owned). In line with the empirical evidence, consumers' ownership gives an incentive to adopt a socially responsible,doi:10.1007/s00712-020-00729-1 fatcat:lauwxobsvzd4ti4j7wtzdqc3ky