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Title: When sociable workers pay off: can firms internalize social capital externalities?
Authors: Ferreira-Lopes, A.
Roseta-Palma, C.
Sequeira, T. N.
Keywords: Corporate social responsibility
Economic growth
Human capital
Social capital
Issue Date: 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: yes
DOI: 10.1016/j.strueco.2012.01.004
ISSN: 0954-349X
Appears in Collections:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

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