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http://hdl.handle.net/10071/5528
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Title: When sociable workers pay off: Can firms internalize social capital externalities?
Authors: Ferreira-Lopes, Alexandra
Roseta-Palma, Catarina
Sequeira, Tiago Neves
Keywords: Corporate social responsibility
Social capital
Human capital
Economic growth
Issue Date: Jun-2012
Publisher: Elsevier
Abstract: We use an endogenous growth model to contrast the socially optimal allocation of human capital with the decentralized solution, in a context where workers make the choices that determine social capital accumulation. As social capital is expected to increase productivity but is not traded in markets, a positive social capital externality is identified. We discuss the possibility that, in response to this externality, firms subsidize social capital accumulation activities, incurring into additional costs that are recouped through productivity gains. This reaction by firms may be seen as a justification for some corporate social responsibility actions targeted at workers, although a full internalization of the externality does not look achievable in practice.
Peer reviewed: Sim
URI: http://hdl.handle.net/10071/5528
ISSN: 0954-349X
Publisher version: The definitive version is available at Elsevier: http://dx.doi.org/10.1016/j.strueco.2012.01.004
Appears in Collections:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

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