Benefits Of Corporate Social Responsibility Research Articles

Corporate social responsibility on worker turnover rate and worker turnover cost: the role of symbolic image dimensions and the unemployment rate

Purpose This study aims to examine the relationship between corporate social responsibility (CSR) and worker turnover rate (WTR) and worker turnover cost (WTC) in Vietnamese garment companies, using the mediating role of symbolic image dimensions (SID) of employer image and the moderating role of unemployment rate. Design/methodology/approach This study uses Signaling Theory and Job Embeddedness Theory as theoretical frameworks to examine the mediating role of SID and the moderating role of the unemployment rate on the link between CSR and WTR, as well as the associated cost. Data from 119 Vietnamese garment companies are analyzed using structural equation modeling – AMOS software. Findings The findings suggest that CSR has a direct adverse effect on the WTR and an indirect effect on WTC through WTR. The results also indicate a direct relationship between the level of CSR adopted by companies and workers’ perception of the symbolic attributes of their company’s employer image as sincere, innovative, competent and prestigious. This, in turn, leads to a reduced rate of worker turnover. In addition, this study discovers the moderating influence of the region’s unemployment rate on the correlation between companies’ CSR and WTR. Practical implications The results indicate that companies should view CSR as a strategic tool to obtain better performance by achieving a win-win state of affairs with their workers. It also implies the influence of external economic factors on the relationship between CSR and worker turnover. Originality/value This study contributes to the literature by highlighting the economic benefits of CSR and the SID.

Corporate social responsibility bridges in the context of tourism service providers

This research focuses on the corporate social responsibility (CSR) practices of tourism service providers (TSPs – tour operators, travel agencies, tourism transportation agencies, among others). We analyse TSP’s collaborative efforts through CSR practices and their social, economic and environmental dimensions. Building on a qualitative framework, we conducted structured personal interviews with fifteen representatives of Jordanian TSPs. Several contributions are worth mentioning: the analysis allows for a broader understanding of CSR practices adopted by TSPs to serve as mutual support bridges between TSPs and stakeholders in the hospitality and tourism industry; CSR practices, benefits and barriers faced by TSPs; gender gap emerging from TSPs employment policies and intersectionality; TSPs and job and tourist opportunities for people with special needs; CSR practices, sustainability and community welfare, among others. This empirical article offers insights from Jordan’s small tourism businesses, a case previously not analysed. Limitations and implications for decision-makers are also discussed.

CSR perceptions and practices in small hotels in urban cities

PurposeThis study aims to examine the perception and practices related to Corporate Social Responsibility (CSR) implemented in Small and Medium-sized Enterprises (SMEs), focussing on small hotels in London.Design/methodology/approachA qualitative research design comprising detailed semi-structured interviews was employed with 12 small hotel owner-managers in central London and its outskirts. The study adopts a social constructionist approach to explore CSR perspectives and practices, along with a social capital framework to investigate how CSR is perceived at the individual level and consequently manifested into CSR practices.FindingsThe findings indicate that a small hotel’s implementation of CSR is influenced by long-term versus short-term considerations, as well as socio-economic and socio-political conditions. Individual-level factors, like hoteliers’ CSR conceptualisation and personal and business values, affect CSR adoption in small hotels. Lastly, institutional-level factors, such as ineffective institutional participation and the hotelier’s cultural background against the cosmopolitan context of a big city, have contributed to a muted response to socially responsible issues.Research limitations/implicationsThis study was conducted with a limited sample of 12 participants from small hotels in London and its outskirts, which may limit the generalisability of the findings. Future research could enhance these findings by involving a larger and more diverse group of participants from various urban areas, potentially employing a quantitative research approach for broader applicability. This study’s insights can guide policymakers in educating small business owners on CSR benefits and implementation. It also proposes how governments could encourage sustainable practices among small hotels seeking to enhance their reputation. Moreover, these findings enable small businesses to develop their stakeholder strategies for greater CSR initiatives.Originality/valueThis study integrates social capital theory into investigating CSR in small hotels in London, broadening the literature on CSR perception and integration, particularly in SMEs and the hospitality sector.

Corporate social responsibility and firm-level systematic risk: The moderating effect of economic policy uncertainty

This paper investigates the relationship between corporate social responsibility (CSR) performance, firm-level systematic risk, and variations in economic policy uncertainty (EPU) levels. We examine a dataset of Chinese listed firms, finding that higher CSR performance should reduce firms' systematic risk during periods with relatively high levels of EPU. Furthermore, better satisfaction of primary and secondary stakeholders can help firms reduce systematic risk and increase performance when EPU is high. This evidence supports the implication of stakeholder theory that CSR investment can create substantial relational wealth essential to firms' risk management. Our results also imply that the CSR-systematic risk relationship can be positive when EPU is relatively low. Our findings indicate that the risk-mitigation benefits of CSR are state-contingent and can be better realized during downturns.

Investigating the barriers facing corporate social responsibility in the built environment: Ghana’s perspective from a qualitative approach

Purpose Several organisations dedicate a portion of their budget and business websites to corporate social responsibility (CSR) events. This illustrates the significance attached to CSR events. In Ghana, a social disconnection may exist between the community and the construction sector. Therefore, this research aims to investigate the benefits of CSR in the construction industry, the implementation challenges and measures to enhance CSR in the Ghanaian built environment.Design/methodology/approach The qualitative technique was adopted using an extensive review of literature supported by structured interviews and analysed by context analysis. The participants include ministry and municipal directors, contractor associations, unions and institutions of engineers. The study achieved saturation.Findings Findings reveal that the construction industry’s CSR impacts the community’s social behaviour and has economic and environmental significance. The absence of government implementation policy and finance constraints were identified as Ghana’s major CSR implementation challenges. Also, besides the government instituting a mandatory policy on CSR in the industry, findings suggest that stakeholders, especially players in the industry and policymakers, should form an integral part of the CSR decisions.Practical implications Findings will support and recommend holistic measures to mitigate CSR implementation hindrances and encourage CSR via a central government's mandatory policy in the Ghanaian built environment.Originality/value Besides most studies used questionnaires, the contribution deduced shows that construction companies' management could use the knowledge from this study and involve all the relevant stakeholders when undertaking CSR activities. Also, the study would fill the scarcity of relevant materials concerning CSR in Ghanaian construction sector.

Enhancing Strategic CSR in Chinese Leading Enterprises: The Role of Government Compensation and a Multi-Phase Portfolio Model

Water environment governance of large rivers is an essential measurement of ecological protection in China. The effectiveness of governance depends highly on the fulfillment of strategic CSR (corporate social responsibility) of Chinese leading enterprises. However, the fulfillment of strategic CSR often brings economic burden to the leading enterprises and needs government compensation support. Therefore, this paper explores the impact of government compensation on the fulfillment of strategic CSR of Chinese leading enterprises by constructing a multi-stage portfolio model. The main results show that (1) the prerequisite for leading enterprises to fulfill strategic CSR is sufficient profits; (2) the increase in government compensation can significantly affect the proportion of strategic CSR fulfillment of leading enterprises; (3) only when the portfolio considers both strategic CSR and project benefits, can the leading enterprises obtain the highest economic returns and better fulfill strategic CSR. The results can provide policy reference for the government to stimulate the fulfillment of leading enterprises’ strategic CSR and also give suggestions for the leading enterprises to alleviate the economic pressure brought by fulfilling strategic CSR.

Benefits of corporate social responsibility during a pandemic: Evidence from stock price reaction to COVID-19 related news

International studies on corporate social responsibility and firm value suffer from bias associated with the endogeneity between corporate social responsibility and firm valuation. To address this issue, we use the exogenous shock from COVID-19 related corporate social responsibility announcements to investigate the causal link between corporate social responsibility and firm value. Analyzing COVID-19 related corporate social responsibility announcements of S&P1500 firms from didthehelp.com and the scores from CSRHub, the results show that COVID-19 related corporate social responsibility announcements negatively affect market-adjusted returns on the day of the announcements regardless of the nature of the news. However, the interaction terms between the firm-level corporate social responsibility and the COVID-19 related corporate social responsibility announcements are positive and statistically significant, indicating that the negative price reactions are not as severe for companies with strong corporate social responsibility performance. It is concluded that corporate social responsibility can benefit the firm in time of crisis.

Corporate Social Responsibility from an Islamic Perspective: An Overview

This paper aims to provide an overview of corporate social responsibility (CSR) from an Islamic perspective. The discussion includes an overview on aspects such as CSR activities, CSR and the environment, CSR and marketing, CSR and stakeholders, CSR benefits and challenges and CSR research conducted in various countries. The research is based on a narrative review, considering selected literature relevant to the topic. In general, the study concludes that engaging in CSR does not violate the Sharia, however, there are numerous challenges in implementing and reporting on the impact of CSR activities. Thus, more studies of an empirical nature are needed to understand CSR in the context of the Islamic financial system.

Socioemotional wealth and family feuds: corporate social responsibility as insurance

PurposeThis study explores family firms' ex ante conflict management strategies to preserve their socioemotional wealth (SEW) under predictable conflict through the succession process. Specifically, the authors examine how family firms leverage the insurance-like benefits of corporate social responsibility (CSR) to mitigate the threat of foreseeable family feuds among the sons of firms' family heads.Design/methodology/approachThe authors focus on the charitable donations pledged by Korean family business groups (chaebols). Using the data of 62 chaebols with generalized least squares (GLS) models, the authors analyze 711 observations from 2005 to 2017.FindingsThe authors find a positive relationship between the number of sons of a family firm's head and the firm's CSR activities such as spending on charitable donations. Furthermore, the number of daughters of heads in executive positions strengthens such a positive relationship, whereas the number of business and political marriage ties weakens this relationship.Practical implicationsFamily heads of family businesses may leverage CSR activities and marriage ties to elite families interchangeably to ward off negative impacts from foreseeable family feuds and preserve their SEW. Thus, a policy-based incentive for CSR that encourages more family heads to use CSR as insurance would serve the public interest.Originality/valueThe authors contribute to the family business literature by suggesting that CSR activities can be used by family firms as an instrument to mitigate foreseeable damage to the SEW caused by family feuds. The authors also shed new light on CSR research by finding that marriage ties to elite families may reduce the strategic value of CSR activities.

Is There Any Impact of CSR on Financial Performance? Evidence from Indian Firms

The sceptical attitude towards linking corporate social responsibility (CSR) and corporate financial performance (CFP) forms the basis of this study. The available literature concentrates only on the positive side of CSR activities and benefits derived from them. The Companies Act, 2013, has made it mandatory for Indian companies of a certain turnover and profit to use 2% of their profits from the past three years on CSR activities. Given this background, this study examines the impact of CSR on the financial performance of the business itself. The economic legitimacy of CSR is also probed, that is, does CSR have a positive economic impact? For this examination, the Pearson Fixed effects panel regression analysis was performed on Nifty 50 companies during the period 2010–2018. Data regarding financial performance variables was obtained from Prowess IQ database. The CSR data was collected from the companies’ annual reports and content analysis was done using NVIVO software. The results of the study provide insights into the corporate response to the mandatory requirement of CSR activities and their impact on the company’s financial performance. The results of the study conclude that there is no significant influence of CSR on the financial performance of Indian companies.

Unlocking the potential of sustainability: the influence of green innovation and supply chain management on corporate performance.

Businesses increasingly recognize the strategic advantage of adopting a green approach, especially in light of the world's growing interest in sustainable development. This strategy appeals to people because it can enhance economic success and ensure long-term sustainability. While there have been numerous studies examining the impact of corporate social responsibility (CSR) on businesses, there is still a significant gap in knowledge regarding the links between CSR, sustainable consumption and production (SCP), green innovation (GI), and green supply chain management (GSCM), and how they collectively contribute to sustainability. This research addresses the gap by exploring the mediating role of GI and GSCM in the relationship between CSR and SCP in contemporary businesses. The study utilized partial least squares structural equation modeling (PLS-SEM) to analyze the survey data collected from a sample of 486 managerial staff members. The findings reveal how CSR impacts SCP through the intermediary effects of GI and GSCM. Furthermore, this research contributes to the existing CSR literature by highlighting the potential benefits of CSR in generating value for the firm's performance. In light of these findings, it is recommended that small- and medium-sized enterprises (SMEs) adjust their strategies and operations to impact the environment, culture, and economy positively. This research underscores the need for a circular economy in GSCM to promote sustainability.

Consumer perceptions of price increase by CSR: Focusing on construal level and consumer attribution

Product price increases caused by Corporate Social Responsibility (CSR) activities can stifle sales. In this study, we investigate consumers’ perceptions of prices raised by CSR and ways to improve negative consumer viewpoints. This study presents consumers’ construal level and internal attribution as key variables. As a result of Study 1 applying 2 (price level) x 2 (construal level) between-subjects analysis, consumers with activated high-level construal perceived product price as a benefit derived from CSR, whereas those with activated low-level construal perceived product price as a cost. As a result of Study 2 examining the influence of intrinsic attribution, the negative effect of product price was mitigated when consumers’ intrinsic attribution was activated. Consumers with intrinsic attribution perceived product price as benefits of CSR regardless of their construal level. The results of this study are expected to provide important guidelines regarding the success of corporate CSR strategies. Finally, we propose the related academic and practical implications.

Corporate Social Responsibility in the Greek Mining and Quarrying companies

This paper aims to investigate the diffusion of the concept of Corporate Social Responsibility (CSR) and the degree of implementation of CSR practices among the Greek Mining and Quarrying Companies. A research study was conducted through a structured questionnaire among the ISO 9001 certified Greek Mining and Quarrying Companies. CSR appears to be very important for large companies which are able to allocate resources for the required CSR actions. Results show that most of the financial resources available for CSR actions are related to the environment and that respondents expect that through CSR actions they gain better relationships with the local community and the general business environment, they achieve improved employee performance, and they attract and maintain high-potential employees. Participants in the research consider bureaucracy, lack of knowledge, the small size of business and the implementation costs as the main inhibitors for the achievement of the CSR principles.
 The research of this work was limited to the Greek mining companies that are certified according to ISO 9001. Future research could be conducted on the CSR awareness of the non-certified companies as well. The study may help managers of the mining companies to focus on specific CSR elements when they decide to follow CSR principles. The implementation of the CSR principles in the mining industry has attracted considerable attention in the CSR literature and this study is an attempt to assess the concept and the benefits of CSR within Greek mining sector.
 JEL Classification code: M14.
 Key words: Corporate Social Responsibility; CSR; Mining and Quarrying; Greece

Perceived corporate social responsibility and job satisfaction in grocery retail: A comparison between low- and high-productivity stores

The relationship between corporate social responsibility (CSR) and job satisfaction is underexplored in the retail sector. We aim to fill this gap by unpacking these constructs to analyse their interrelationships. Moreover, conceptualising productivity as a contextual factor able to generate multiple stressors for retail employees, we compare the CSR-job satisfaction relationship between low- and high-productivity stores. We argue that CSR strategies effectively contribute to maintaining high job satisfaction in both retail contexts. Working on a sample of 708 grocery retail chain employees, we apply structural equation modelling and multigroup regressions to test our hypotheses. The results show that CSR positively influences job satisfaction. In detail, internal CSR benefits job satisfaction more than external CSR. CSR strategies effectively work to strengthen job satisfaction even in high-productivity stores. These findings contribute to the debate about the employees’ job satisfaction management in busyness and high-productive retail contexts.

How Competing Institutional Logics Affect Corporate Social Responsibility Benefits: the Mediating Role of Paradox Mindset and Multi-Stakeholders

How Competing Institutional Logics Affect Corporate Social Responsibility Benefits: the Mediating Role of Paradox Mindset and Multi-Stakeholders

Evaluating the effectiveness of oil companies’ Corporate Social Responsibility (CSR)

Oil production often triggers socioeconomic upheaval, manifested as grievances and conflict that can disrupt a company’s operations. I utilize Stakeholder Theory and the Social License to Operate to contextualize why oil companies turn to Corporate Social Responsibility (CSR) to mitigate such conflict. They use what is often described as the “business case”-seeking to prioritize their commercial interests while addressing harms from extraction-to justify pursuing CSR, which, they maintain, facilitates production and enables them to pursue their profit-seeking interests. Does CSR benefit the commercial interests of oil companies? I hypothesize that CSR activity does increase oil production and test this expectation using a sample of oil-producing countries and a novel measure of CSR developed from the literature. I find weak evidence in support of CSR facilitating oil production. My analysis reveals that oil production drives the need for CSR, findings which challenge the key arguments put forward in support of the business case (for CSR) in this sector.

Reasons for CSR engagement in SMES and MNCS: a qualitative perspective

The purpose of this paper was to explore the reasons for Corporate Social Responsibility (CSR) engagement among Small Medium Enterprise (SMEs) and Multinational Corporations (MNCs) in Malaysia. The research is situated within an interpretive approach. The interview technique was employed to explore the issue. Interviews were conducted with 8 firms including 4 SMEs and 4 MNCs. The firms were selected based on the firms that are actively engaging in CSR and the detail of CSR activities have been identified via their companies websites. Five themes emerged as the reasons for CSR engagement in SMEs and MNCs: leadership styles, competitiveness, alignment with company mission, vision, and objectives, and resource availability. From the results, this study helps researchers to understand in depth the CSR terminologies, the differences in CSR activities between MNCs and SMEs, and the factors that would influence firms to engage in CSR activities. Other than that, this study will help in initiating programs workshops, seminars, and training to educate managers and SME owners on the benefits of CSR.

Barriers to corporate social responsibility performance in construction organizations

PurposeThis study aims to identify and prioritize barriers to corporate social responsibility (CSR) in the construction sector.Design/methodology/approachA literature review was first conducted to identify barriers to CSR performance. After that, construction professionals were invited to validate the appropriateness of the obstacles. The discussion allowed the establishment of a list of barriers to CSR performance and their corresponding categories. Data collected from the survey were then analyzed to prioritize the importance of these barriers by the fuzzy DEMATEL-based ANP (DANP) technique.FindingsThe findings presented 16 barriers to CSR, which were categorized into four clusters. The fuzzy DANP analysis showed that strategic vision is the most crucial cluster, followed by the measurement system, stakeholder perspective and scarce resources. Among the sixteen barriers examined, lack of awareness, knowledge and information of CSR; low priority of CSR; lack of metrics to quantify CSR benefits; lack of guidelines and coherent strategies; and lack of CSR enforcement mechanism are the five most crucial barriers.Originality/valueThis study is one of the first that proposes a comprehensive model to prioritize barriers to CSR performance of contractors considering their interrelationships. It provides construction stakeholders with a framework for understanding the linkage between the barriers and CSR framework under the umbrella of stakeholder theory. Thus, the findings might assist construction practitioners and academics in fostering the success of CSR implementation.

Climate Risk, Corporate Social Responsibility, and Firm Performance

AbstractWe examine the impact of climate risk on firm performance with a focus on the moderating role of corporate social responsibility (CSR). Further, we explore how the interaction between climate risk and CSR changes with national culture and religion. Our findings show that firms in countries with greater climate risks are associated with higher levels of CSR activities, possibly suggesting that firms respond to climate risks by engaging in more CSR activities. We then provide robust evidence that higher CSR significantly mitigates the performance‐reducing impact of climate risk. Importantly, the moderating effect of CSR is more pronounced in countries characterized by low individualism and high religiosity. Overall, our findings provide an alternative perspective on the risk‐management benefits of CSR, suggesting that CSR can be considered as a response to climate‐change related risks for corporations.

The Predominant Elements for Strategic CSR Implementation in SMEs

Research on strategic Corporate Social Responsibility (CSR) in small and medium-sized enterprises (SMEs) is still not many in number, particularly, in developing countries. Although SMEs play an important role in economic development, this sector has received less attention in research on its competitiveness through social responsibility. According to previous literature, SMEs have unconsciously practiced social responsibility but have not been integrated in their strategy. The same condition has also occurred to SMEs in Badung district, Bali, where they practice social responsibility in running their business as an embodiment of a philosophy based on religious teachings. However, this type of CSR has not yet made a positive contribution to their competitiveness. This study attempts to answer what elements are required to obtain CSR as strategy. Interpretive Structural Modeling methodology was implemented to the SMEs located in Badung Regency, Bali . The study finds that the integration of strategic CSR into SMEs’ strategy was focused on new paradigm improve SMEs’ competitiveness. This new way of thinking can be achieved by intensively socializing the benefits of strategic CSR through education, relevant policy and collaboration between related stakeholders.