Legal Analysis Of Corporate Social Responsibility

Belonging to a historic and specificity category, with a comprenhensive coverage and involvement of diverse interests, Corporate Social Responsibility (CSR) has not yet formed a clear concept which is generally accepted by the public. This article supports that the definition of corporate social responsibility is'Under the objective of maximizing shareholders'value, a company has its responsibility to care for other stakeholders other than its shareholders, including employees (workers), consumers, creditors, small and medium competitors, and also other parties in relationship with the company as well, e.g. local communities, resources, environment, the weak of the society and even the whole society. Emphasis on a company's social responsibility should be based on the respect for the company's first objective of operating for profit. The formulation of corporate social responsibility developed in the background of reflecting on companies behavior and their negative impact. This formulation is in response to the requirements of times and also has other theories such as 'Stakeholder'in support. Legislation on corporate social responsibility is necessary and feasible. The way of legislation is to build up the dual implementation mechanisms in combination of autonomy and heteronomy, to put forward the implementation of our country's corporate social responsibility mechanisms with reference to the legislation of Western Corporate Social Responsibility. Comparing the decentralized and centralized corporate social responsibility legislation, it reveals that a centralized legislative model is an inevitable choice of our country. Some developed countries, such as United States, Britain, Germany, Japan and also the international community as well provides a useful reference for China ragarding corporate social responsibility legislation (including "Soft Law") with their present actualities. The current legislative situation of Corporate Social Responsibility in our country, and especially the new Corporate Law provisions of Article V as well, are the legal basis of putting forward and improving the idea of developing a sound system of corporate social responsibility in China. Setting a clear mechanism for corporate social responsibility implementation and developing a sound system of company legislation to improve corporate social responsibility legislation make corporate social responsibility implementation more operable and justiciable.