Provides a basis for the simultaneous evaluation of the positive and defensive functions of corporate social responsibility (CSR). The integration of the two traditionally distinct approaches to CSR, one considers it to be compatible with economic objectives, while others see it as incompatible with it. Brings these two approaches together to recognize CSR multiple functions and examines how CSR can offer a crucial advantage to managers by providing a means of insuring the financial results of negative events. This value is hidden insurance is often ignored in traditional evaluation of the relationship between CSR and financial performance. "Hide
by John Peloza Source: California Management Review 22 pages. Publication Date: February 1, 2006. Prod. #: CMR331-PDF-ENG
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