Convergence of Corporate Governance and CSR: Ideological Perspectives

The discovery of the nexus between corporate governance (CG) and corporate social responsibility (CSR) has evolved into something similar to finding the “golden standard”. However, most business studies on the nexus between CG and CSR combine these concepts without reference to ideologies behind them. The aim of this chapter is to review and systematize business literature on the convergence of CG and CSR, with a special emphasis on the ideologies of CG and CSR. The author finds that a better understanding of the nexus between CG and CSR at the ideological level is at least as important as the question of their causality. The development of non-economic theories of CG and of sustainability accounting together with new accounting statements can be particularly helpful for the potential convergence of CG and CSR. This chapter also reveals gaps and underexposed themes in CG–CSR research, and introduces a set of potential research avenues. The content of this chapter can stimulate and guide future research.