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Abstract
Background: This study aims to shed light on the mutually beneficial causal relationship between creating shared value (CSV) and corporate social responsibility (CSR) activities and how they affect productive behavior through work engagement. Many preceding studies showed that work engagement and organizational citizenship behaviors (OCB) play a major role in the relationship between CSV and CSR activities and the organization’s internal performance. This study classified product behavior into OCB, innovative behavior, and job performance, based on the literature review. Methods: The subjects of this study were companies listed in KOSPI, which is Korea’s representative securities market. The companies listed on KOSPI are Korea’s leading companies as designated by the Korean government and financial authorities based on industry representation, market representation, and liquidity. Results: This study supported many preceding studies that analyzed the causal relationship between CSV and CSR activities, as well as OCB. In addition, this study has significant implications for businesses since it presents the possibility of studying the relationships between various organizational performance factors such as innovative behavior and job performance. Conclusions: It is expected that this study will help companies find more effective ways to strengthen their competitive advantage from a theoretical and practical perspective.
Highlights
Companies have experienced increased expectation and demand to play more active social roles in society
The results of the factor analysis showed that all factor loadings for creating shared value (CSV), corporate social responsibility (CSR), work engagement, organizational citizenship behaviors (OCB), innovative behavior, and job performance exceeded 0.50, as presented in Table 3, indicating discriminant validity between measurement variables and convergent validity within the variables
In researching the relationship between CSV and CSR and organizational performance, most of the previous studies focused on work engagement and OCB
Summary
Companies have experienced increased expectation and demand to play more active social roles in society. Companies have recently begun searching for a practical means of achieving mutual growth for business and society This is a change from the traditional CSR method of using company profits to support social programs [1]. Companies have realized that they must both promote the corporation’s sustainable development and use their corporate expertise to solve critical societal issues [2] Given these circumstances, the concept of creating social value (CSV) has attracted more attention. This study aims to shed light on the mutually beneficial causal relationship between creating shared value (CSV) and corporate social responsibility (CSR) activities and how they affect productive behavior through work engagement. Many preceding studies showed that work engagement and organizational citizenship behaviors (OCB) play a major role in the relationship between CSV and CSR activities and the organization’s internal performance. Conclusions: It is expected that this study will help companies find more effective ways to strengthen their competitive advantage from a theoretical and practical perspective
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