On Implementation Mechanism Of Corporate Social Responsibility

The corporate is not purely an economic organization; ithas a social obligation of certain degree. Non-shareholdersconstituencies contributed resources and property to thecorporations, so corporations must take their socialresponsibility. Corporate social responsibility is not onlyconducive to recognize and protect the rights of theconstituencies of corporation, but also mobilizes theenthusiasm of participants that brings more benefits for thecompanies' shareholders.The main content of corporate social responsibilitiesincludes responsibilities for creditors, customers,beneficiaries of the environment and resources and thecommunity where the corporation is located. Abroad, the UnitedStates, primarily through improving business of lawsystem, which is outside of the corporate law, to effectcorporate directors' decision-making behavior in a way toprotect the stake-holders' interests. EU promotes corporatesocial responsibility mainly by encouraging employees toparticipate corporate governance. Japan is famous by its maincredit bank system and the creditors meet system to protect theinterests of the creditors. China can learn from these.As for china, there are lots of deficiencies in theimplementation mechanisms of corporate social responsibility.They include: Firstly, The legislature didn't recognize thebusiness law, which is related to corporate operation, is themain mechanism for achieving corporate social responsibility.As a result, the existing business laws and regulations are notvery systemic and lacking of co-ordination. Secondly, as to the corporate governance legal system, the stakeholders can notinfluence corporate decision-making and supervise thecorporate effectively, because some important supportingmeasures are imperfect or lacking.China should consolidate existing legal resources, makesure that the business legal system, which is outside ofcorporate law, as the main implementation mechanism ofcorporate social responsibility, strengthen collaboration andcoordination between the various implementation mechanisms ofCSR, establish the public interest litigation system and thecorporate social responsibility standards of China, put theidea of protecting the interests of other stakeholders intolegislature value of corporate law, improve the worker'scongress system, employee-directors system andemployee-supervisors system, grand company's creditors therights to supervise the corporate operation and sue thedirectors of corporation.