Ross Levine is Professor of Economic Analysis and Policy at Berkeley Hass. He write in this article that in a time of increased competition and pressures from the pandemic, it might be a simple assumption that firms might reduce their focus on Corporate Social Responsibility. Recent analysis however shows that companies are using Corporate Social Responsibility as a profitable strategy to build loyalty and trust. The paper (Competition Laws, Ownership and Corporate Social Responsibility by Ding, Levine, Lin, Xie 2020) is based on research analysing 14,000 firms across 47 countries between 2002 and 2015. The findings established that higher levels of competition boosts corporate social responsibility. The results were consistent across various firms, industries and countries. “Our empirical findings are inconsistent with the traditional view that competition induces firms to focus on short-term survival and therefore forgo investments that pay off in the long run,” Ross Levine One theory forContinue Reading