Although a growing stream of research investigates the role of government in corporate social responsibility (CSR), little is known about how governmental CSR interventions interact in financial markets. This article addresses this gap through a longitudinal study of the socially responsible investment (SRI) market in France. Building on the ‘CSR and government’ and ‘regulative capitalism’ literature, we identify three modes of governmental CSR intervention – regulatory steering, delegated rowing, and microsteering – and show how they interact through the two mechanisms of layering (the accumulation of interventions), and catalyzing (the alignment of interventions). Our findings 1) challenge the notion that, in the neoliberal order, governments are confined to steering market actors – leading and guiding their behavior – while private actors are in charge of rowing – providing products and services; 2) show how governmental CSR interventions interact and are orchestrated; and 3) provide evidence that governments can mobilize financial markets to promote CSR.

中文翻译：

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通过金融市场协调政府企业社会责任干预：法国社会责任投资案例

尽管越来越多的研究调查了政府在企业社会责任 (CSR) 中的作用，但对政府 CSR 干预如何在金融市场中相互作用知之甚少。本文通过对法国社会责任投资 (SRI) 市场的纵向研究来解决这一差距。在“企业社会责任与政府”和“监管资本主义”文献的基础上，我们确定了政府企业社会责任干预的三种模式——监管指导、委托划船和微观指导——并展示了它们如何通过两种分层机制（干预的积累）相互作用，和催化（干预的调整）。我们的发现 1) 挑战这样一种观念，即在新自由主义秩序中，政府仅限于引导市场参与者——引导和指导他们的行为——而私人参与者负责划船——提供产品和服务；2) 展示政府企业社会责任干预是如何相互作用和协调的；3) 提供证据表明政府可以动员金融市场来促进企业社会责任。