Chapter 1: Responsible Firms and Global Sustainability: Toward an Integrated Framework

The apparent contemporary corporate model is that of a “responsible firm” – a firm that pursues not only profit and shareholder return but also considers the concerns and interests of its social and environmental stakeholders. Research on corporate social responsibility (CSR), investor recognition via environmental, social, and governance (ESG) issues, and long-term sustainability has developed into an established field of study. We attempt to clarify the terminologies and models of this field by conducting a brief review of the existing work and suggesting an integrated conceptual framework for CSR, ESG, and sustainability in a domestic and global context. We suggest that externality and temporality are the drivers of this integrated framework.