本文研究在不同情形下的雙邊獨占市場中，具有上下游關係的兩間廠商做出的CSR決策會如何影響均衡結果，進一步分析廠商行為對社會福利的影響。
本文發現廠商投入CSR會對產品價格及中間財價格造成不同幅度的影響，但無論廠商在CSR決策階段的行動順序為何，上游廠商皆會選擇投入更高的CSR程度。而當下游廠商具有強大議價力時，產品價格會降低，產品數量提高，生產者總剩餘及社會福利也會提高，然而社會中CSR程度總和卻有可能提高或降低。最後，若上游廠商投入CSR具有折扣效果則會使上游廠商參與社會CSR投入占比降低，且社會福利下降。

This article studies how the CSR decisions made by upstream and downstream firms in different situations in bilateral exclusive markets will affect the equilibrium results, and further analyze the impact of firms’ behavior on social welfare.
We find that manufacturer’s investment in CSR will have varying degrees of impact on product prices and the price of intermediate goods. However, no matter what the manufacturer chooses to do in the CSR decision-making stage, upstream manufacturer will invest in a higher degree of CSR. When downstream retailer have strong bargaining power, product prices will decrease, product quantity will increase, and total producer surplus and social welfare will increase. However, the sum of CSR levels in society may increase or decrease. Finally, if the upstream manufacturer’s investment in CSR has a discount effect, the proportion of upstream retailer's participation in social CSR investment will decrease, and social welfare will decline.

顏宇祥 (2019)，企業社會責任與品質垂直差異，國立中央大學產業經濟研究所
　　碩士學位論文

Baron, D. P. (2001). Private politics, corporate social responsibility, and integrated
　　strategy. Journal of Economics & Management Strategy, 10(1), 7-45.

Brand, B., & Grothe, M. (2015). Social responsibility in a bilateral monopoly. Journal
　　of Economics, 115(3), 275-289.

Chang, C. W., Li, C. C., & Lin, Y. S. (2019). The strategic incentive of corporate
　　social responsibility in a vertically related market. International Review of
　　Economics & Finance, 59, 88-97.

Din, H. R., Kao, K. F., & Liang, W. J. (2013). Patent Licensing and Double
　　Marginalization in Vertically-related Markets. Jing Ji Lun Wen Cong Kan, 41(1),
　　27.

Fanti, L., & Buccella, D. (2017). Corporate social responsibility in a game-theoretic
　　context. Economia e Politica Industriale, 44(3), 371-390.

Goering, G. E. (2012). Corporate social responsibility and marketing channel
　　coordination. Research in Economics, 66(2), 142-148.

Goering, G. E. (2014). The profit‐maximizing case for corporate social responsibility
　　in a bilateral monopoly. Managerial and Decision Economics, 35(7), 493-499.

Kopel, M. (2009). Strategic CSR, spillovers, and first-mover advantage. Available at
　　SSRN 1408632.

Kopel, M., & Brand, B. (2012). Socially responsible firms and endogenous choice of
　　strategic incentives. Economic Modelling, 29(3), 982-989.

Kuang-Sheng Huang (2021). Successive Monopoly and Corporate Social
　　Responsibility: A Vertical Differentiation Approach. Submitted to the Journal of
　　Social Sciences and Philosophy.

Liu, C. C., Wang, L. F., & Lee, S. H. (2015). Strategic environmental corporate social
　　responsibility in a differentiated duopoly market. Economics Letters, 129, 108-
　　111.

Manasakis, C., Mitrokostas, E., & Petrakis, E. (2014). Strategic corporate social
　　responsibility activities and corporate governance in imperfectly competitive
　　markets. Managerial and Decision Economics, 35(7), 460-473.

Matsumura, T., & Ogawa, A. (2016). Corporate social responsibility and endogenous
　　competition structure. Economics Bulletin, 36(4), 2117-2127.

Planer-Friedrich, L., & Sahm, M. (2017). Strategic corporate social responsibility.