Philanthropy and the For-profit Corporation: The Benefit Corporation as the New Form of Firm Altruism

Currently the issue of sustainability is at heart debate on corporate governance business companies. In Europe, an intense activity revising and updating European rules applicable to financial markets company law has started. Italy, such became more after legal transplant US benefit corporation model in late 2015. The Italian società allows, through a voluntary choice founding members or shareholders’ meeting, internalise values typical social responsibility articles association, making them legally binding directors. Considering traditional dichotomy between for-profit entities non-profit entities, hybrid models as appear struggle finding adequate space within capitalist systems theories. This study attempts offer interpretative key for understanding these models, abandoning classical homo economicus paradigm embrace reading based behavioural economics Yale approach economic analysis law, according which altruism beneficence should be considered ends themselves, goods desired by people they are willing pay price. this line reasoning, corporations other because their ability bring altruistic into purpose, departing from shareholder value maximisation raison d'être form, can further manifestation ‘firm altruism’, given that characterised deep lasting impact environment civil society.