On Corporate Social Responsibility Ruled By Law

Corporate social responsibility is refers to the responsibility for stakeholders who are with variety relations to the corporate besides the shareholders, aiming at not only pursuing shareholders'own profit but also maintaining and promoting social and public interests. It can not conform to social justice if the corporate indulge in realizing their own interests for the survival as the fundamental factor, and disregarding the a host of social problems which it brings, such as interests of employees, consumers and other stakeholders getting damaged, environmental pollution and ecological imbalance which are being serious day by day. At first corporate social responsibility are reflected in people's awareness of ethical and moral level, and the theory and practice has been manifested that it was transiting from moral responsibility to the legal responsibility since the inchoation of it. It represents not only in the advancement of legal system but also the development of the practice of law, this process is the one of corporate social responsibility ruled by law which has testified by the relevant domestic and international practice. As far as our country to be concerned, even New Corporation Law of China on corporate has stated principled stipulation over corporate social responsibility, this is only the beginning of corporate social responsibility ruled by law. It is still needed that assessing upon on foreign legislation and judicial practice as well as using it for reference. There is a certain value for the implementation of corporate social responsibility ruled by law in China for reference that Other Constituency Statutes and the legal norms with distinct feasibility established by State Council in U.S and the employee representative system in EU countries. It can provide strong support for corporate social responsibility ruled by law that positioning corporate social responsibility in law precisely and integrating legal resources from the legislative perspective. And in order to further the implementation of corporate social responsibility ruled by law, it is necessary to carry out the system of safeguarding based on the interest of stakeholders and improve the system of means of relief as well. Therefore, China's corporate social responsibility ruled by law should provide the legal support for corporate social responsibility coming to being. Whether corporation law or other relevant laws, they should regulate corporate social responsibility in certain extent from different perspectives, with the goal of restricting and encouraging the corporate to carry out its "social duty", that is, to realize maximization of the interest of shareholders and stakeholders as well. Thus that can preserve and enhance the overall interests of society.