"There is one and only one social responsibility of business" wrote Milton Friedman, a Nobel Prize-winning economist "That is, to use its resources and engage in activities designed to increase its profits." But even if you accept Friedman's premise and regard corporate social responsibility (CSR) policies as a waste of shareholders's money, things may not be absolutely clear-cut. New research suggests that CSR may create monetary value for companies at least when they are prosecuted for corruption.

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