Social Responsibility as Displacement of Capitalism: Evidences from Banks in Brazil

Abstract

The purpose of the study is to understand the dynamics of institutionalizing Corporate Social Responsibility (CSR) in the Field of Banking Organizations in Brazil. By means of a social analytical model proposed by Boltanski & Chiapello (1999), and retrieving the conceptual bases of the institutional approach and using the notion of interest in Bourdieu (1996), we arrived at an analytical model that enabled us to understand CSR as part of a movement to displace capitalism. We defend the theory that when institutionalizing CSR, the actions are justifiable in terms of the common good, legitimizing it by tests and structural arrangements while at the same time serving interests inherent to the Field. The field research considered around thirty organizations, including documentary analysis and interviews. We find that, from being an isolated marginal action, CSR in the past ten years is now a structured action in banking organizations, while at the same time becoming a social value that may contribute toward the legitimacy of the Field. Along these lines, the study demonstrated that retail banks are those most involved in the CSR movement, which confirms the theory of the phenomenon as displacement of capitalism.