Corporate Social Responsibility Theory Research Articles

Understanding dynamic return connectedness and portfolio strategies among international sustainable exchange-traded funds

The rapid growth of sustainable investing has led to the global expansion of environmental, social, and governance (ESG) investment products. Existing literature on sustainable investing focuses primarily on corporate social responsibility theory and risk assessment, with relatively little research on ESG investment value and portfolio strategies. Using data from six worldwide ESG exchange-traded funds (ETFs) between 2020 and 2023, we examine return connectedness and portfolio performance by employing a time-varying parameter vector autoregressive (TVP-VAR) and portfolio approaches. The findings reveal that European ETF plays a dominant role in the worldwide ESG system due to the market size and market maturity. Specifically, the European ETF can substantially reduce portfolio volatility. Moreover, the results show that minimum variance and risk-parity portfolios outperform the other portfolio strategies during periods of geopolitical turmoil. These results provide valuable insights for improving the resilience of ESG markets and enhancing sustainable investment strategies.

Impact of Eco-Friendly Practices on Resort Profitability in the Maldives

Purpose: The aim of the study was to analyze the impact of eco-friendly practices on resort profitability in the Maldives. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Studies on the impact of eco-friendly practices on resort profitability in the Maldives show that sustainable practices, such as renewable energy use, water conservation, and waste reduction, positively affect profitability. Resorts adopting green initiatives benefit from lower operational costs, such as reduced energy and water consumption, while also attracting environmentally conscious tourists willing to pay premium prices. These practices also enhance brand reputation and long-term resilience, reducing dependency on finite resources. However, the initial investment in eco-friendly infrastructure can be high, and profitability gains are more evident in the long term. Unique Contribution to Theory, Practice and Policy: Sustainable tourism theory, corporate social responsibility (CSR) theory, resource-based View (RBV) theory may be used to anchor future studies on the role of technological advancements on customer satisfaction in Japan’s hospitality. Practically, resorts in the Maldives can use this research to improve their profitability while simultaneously enhancing their environmental sustainability. At a policy level, this research can provide empirical evidence for policymakers in the Maldives to promote and regulate eco-friendly practices in the tourism sector.

Strategic Corporate Purpose

ABSTRACTWe propose a theory of strategic corporate social responsibility (CSR). Value‐maximizing shareholders play an industry CSR game where they can opt for an objective function that extends beyond shareholder value, thus conditioning other strategic firm decisions. The theory provides a formalization of the “doing well by doing good” adage in an industry setting. We develop conditions such that the CSR game is a pure coordination game, which provides a natural and novel theory of strategic leadership in CSR: By committing to a CSR objective function, a first mover leads the industry to a Pareto superior equilibrium. The theory can rationalize recent evidence on correlated industry‐wide CSR adoption, and carries implications for competition policy.

Can Corporate Environmental Social Responsibility and Financial Performance Achieve a Win-win Situation in China? -From the Perspective of Executive Social Capital

ABSTRACT Based on the new market corporate social responsibility theory, enterprises try their best to achieve a win-win situation between environmental social responsibility and corporate financial performance. This paper quantifies corporate environmental social responsibility from the perspective of enterprise front-end governance, back-end governance and employee green behavior, based on the data of Chinese A-share listed companies from 2010 to 2022. Return on assets is used to measure the corporate financial performance. Then, from the perspective of executive social capital, this paper explores the threshold effect of environmental social responsibility on financial performance and draws the following conclusions: (1) In the short term, corporate environmental social responsibility exerts a negative effect on financial performance by augmenting R&D investment. In the long term, corporate environmental social responsibility has a positive effect on financial performance by enhancing reputation or reducing financing costs; (2) Specifically, compared with employee green behavior, front-end and back-end governance have a notably substantial adverse effect on corporate financial performance; (3) When executive social capital crosses a specific threshold, the negative impact of corporate environmental social responsibility commitment on financial performance becomes insignificant. Consequently, this study suggests that bolstering executive social capital is essential for concurrently advancing corporate environmental social responsibility and financial performance.

Re-envisioning corporate social responsibility education from a multicultural perspective: From pyramid to hourglass

While contemporary capitalist society is stimulating corporate social responsibility (CSR) and related themes such as sustainability, with the UN SDGs and ESG as dominant narratives, educators have voiced concerns about the actual issue of how to integrate these emerging phenomena into management education. This study adopted a sequential explanatory design using responses collected from international business school students in Asia over a 6-year period to examine this gap. Their perceptions were analyzed by matching them against Carroll's four-part definitional framework, the pyramid of CSR, to gauge the degree to which CSR theories are received by students. The results revealed that the majority of Asian students understand CSR differently from the mantra “CSR is about responsible business”. Depending on the context, Carroll's CSR pyramid is negatively perceived by students in Asia as many are aware that CSR is a culturally hypersensitive subject. The study proposes three recommendations for developing inclusive CSR education in multicultural settings: 1) emphasizing the “changing” role of business in the world and contemporary capitalism; 2) emphasizing the necessity of blending Western CSR theories with sustainable development issues in other nations; and 3) adding more details about cultural sensitivity in our use of CSR.

Role of Sustainable Practices on Hotel Brand Loyalty in the United States

Purpose: The aim of the study was to assess the role of sustainable practices on hotel brand loyalty in the United States. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The study indicated that eco-friendly initiatives and responsible business practices not only appeal to environmentally conscious travelers but also enhance the overall reputation of hotels. By implementing sustainable practices such as energy conservation, waste reduction, and sourcing local, organic products, hotels can differentiate themselves in a competitive market. Guests are increasingly prioritizing sustainability in their travel choices, and hotels that demonstrate a genuine commitment to environmental stewardship are more likely to build stronger, long-term relationships with their customers. Additionally, sustainable practices contribute to a positive guest experience, further reinforcing brand loyalty. The perception of a hotel as a responsible and ethical entity can lead to repeat business and positive word-of-mouth recommendations, as customers are more likely to support brands that align with their values. Ultimately, sustainable practices not only benefit the environment but also serve as a strategic advantage for hotels aiming to cultivate loyal and satisfied guests. Implications to Theory, Practice and Policy: Theory of planned behavior (TPB), stakeholder theory and corporate social responsibility (CSR) theory may be used to anchor future studies on the role of sustainable practices on hotel brand loyalty in the United States. Hotels should actively implement and promote sustainable practices as core components of their operational strategies. Policymakers should encourage the hospitality industry to adopt sustainable practices through incentives and guidelines.

ANALISIS KRITIS PENGEMBANGAN KAWASAN TERPADU DI BUMI SERPONG DAMAI (BSD) DALAM PERSPEKTIF PROYEK STRATEGIS NASIONAL

The aim of this research is to analyze the development of an integrated area in Bumi Serpong Damai from the perspective of a national strategic project, in relation to land law, the authority of state control rights (HMN) and examine the policies, regulations, management, supervision and impact of control of the area from the verklaring domain side. The research method used is normative juridical where an approach is based on primary law by examining theories, concepts, legal principles and related laws and regulations. The theory used is the Theory of Corporate Social Responsibility. The research results show that the development of the Bumi Serpong Damai integrated area is in accordance with the state's goals, namely the welfare of its people, which is also organized in a strategic government project and is also related to agrarian law. In its implementation, no fraud was found by stakeholders

Advancing the Moral legitimacy of digital platforms as gatekeepers: a critical analysis from a political corporate social responsibility perspective

This study focuses on digital platforms, such as Google or Meta, that function as “gatekeepers” that dominate their respective markets. They face serious moral legitimacy issues, due to their power to act as private rule-makers in underregulated digital spheres. Such legitimacy issues have remained underexplored thus far, as have gatekeepers’ options for addressing them. Yet moral legitimacy represents a vital resource for organizations, as a justification of their essential right to exist. Drawing on recent advances in political corporate social responsibility theory, this study offers a systematic conceptualization of how gatekeepers can exhibit ethical responsibility in their efforts to gain, maintain, and sustain their moral legitimacy. This systematic conceptualization encompasses different agreement-seeking procedures, online deliberation, a hybrid governance approach that combines regulation and self-regulation, and the provision of public goods.

Innovation stakeholders: Developing a sustainable paradigm to integrate intellectual property and corporate social responsibility

AbstractInnovation is usually framed in terms of expanding the knowledge frontier or the commercialization of new ideas. However, it is much more than that. Innovation is also about providing greater well‐being for society and the various stakeholders that support a firm's efforts to innovate. This article examines the paradoxical status of innovation and its related legal domain of intellectual property rights, which largely exists beyond the purview of corporate social responsibility (CSR) theory, practice, and discourse. To address this conceptual deficiency, this article interlinks intellectual property, innovation, and CSR to offer three contributions. First, this article provides a working definition of the various stakeholders that must be identified to define CSR goals related to innovation. A critical aspect of CSR is the identification of relevant stakeholders. Second, this article discusses how established CSR approaches will accommodate these innovation stakeholders. Third, this article introduces and positions the managerial strategy of open innovation as a feasible and desirable approach that ethically recognizes, engages, and balances the interests of innovation stakeholders with the interests held by the firm and society. The normative argument made is that the firm's fiduciary leaders have an ethical obligation to pursue open innovation practices as a default norm to achieve the best CSR results for the firm and its various innovation stakeholders.

Volume and value of technological innovation: the role of corporate social responsibility and business architectural factors

The understanding of firm‐level drivers of technological innovation has been concentrated on a firm's core business related factors. How a firm's corporate social responsibility (CSR) initiatives impact a firm's technological innovation is notably understudied in the literature, even though business firms are increasingly recognizing the multifaceted impact of CSR on various corporate outcomes including technological advancements. This study bridges this gap by linking CSR to firm technological innovation as measured by both innovation volume and value. Furthermore, a set of business architectural factors, including market emphasis, related/unrelated diversification, and vertical integration, are incorporated as moderating factors to generate a granular understanding pertaining to CSR's innovation implications. We collected a large sample set, employed a series of robust empirical methods, and found that CSR has a consistently positive impact on both innovation volume and value, and the magnitude of these relationships differs across various business architectural factors. This study contributes to the innovation literature, strategic CSR theory, instrumental stakeholder theory, and provides useful guidelines for business practices.

Stakeholders, stakeholder theory and Corporate Social Responsibility (CSR)

Complacency is almost archaic in the knowledge economy, because firms are overwhelmingly confronted with diverse expectations from better informed stakeholders, who pressure on societal issues amid shareholders’ calls for greater financial security. Similarly, there is a growing call for corporations to redefine their responsibilities to stakeholders, and to integrate socio-economic and environmental concerns into business processes and strategies in order to transparently impact on societies. In a bid to support mutually beneficial relationships, this paper shows how stakeholder theory proactively moderates the strength of CSR in social interactions, environmental protection, and sustainable development. It proposes a four-stage stakeholder dialogue ladder which attempts to synergize CSR, stakeholder and stakeholder theory based on the stages as defined by the firm’s extent of development, and her regularity and intensity of interaction with stakeholders. The paper argues that subject to the problem to solve, the languages of CSR and stakeholder theory are useful and that, the dichotomies of covering wrongdoing and creating falsehoods could be addressed when firms adopt stakeholder dialogue and collaboration that aid friendly CSR programmes. Thus, the relationship turns that of dyadic partnership, because corporations follow issue or purpose-based CSR programmes that create values that trickle to interdependent stakeholders. In sum, corporations need to continually get committed to environmentally-sensitive CSR since there is a strong relationship between CSR activities, stakeholders and actual performance.

Adapting to the COVID-19 crisis: corporate social responsibility in an emerging market economy

ABSTRACT Grounded in the theories of stakeholder and corporate social responsibility (CSR), the study investigates the role of businesses in responding to the coronavirus disease 2019 (COVID-19) pandemic in an emerging market economy such as Bangladesh. Employing a convenience sampling procedure, ten commercial banks were selected as the sample for the study, and the content analysis method was utilised for data analysis. After examining the annual reports of a sample of banks, the study reveals that they have implemented diverse health safety, consumer essential needs, and community development-oriented CSR policies to safeguard their core stakeholders, such as employees, customers, and communities, during the COVID-19 pandemic in Bangladesh. This indicates that corporations, through CSR initiatives, can maintain a win-win relationship between business and society, even in a crisis period. Lastly, the researcher recorded implications and proposed directions for future research on CSR policies in similar critical times, albeit in different circumstances.

Pendidikan Lingkungan Hidup dengan Membentuk Kesadaran Lingkungan dan Tanggung Jawab Sosial di Kalangan Pelajar

Environmental Education (PLH) plays an important role in forming environmental awareness and social responsibility among students. This article aims to explore the effectiveness of PLH. The research method used is a qualitative research method which involves in-depth interviews with teachers and students as well as direct observation in the school environment. The research results show that experience-based learning methods, support from schools and communities, and social interaction are crucial factors in the success of the PLH program. This finding is in line with theories of environmental education and corporate social responsibility which emphasize the importance of real experience, the social environment, and environmental responsibility. In conclusion, the integrated implementation of PLH with support from various parties can be an effective instrument in forming a generation that cares about and is responsible for the environment and society at large.

Analyzing the Sustainability Report of Multinational Companies

Nowadays, more and more multinational corporations attach importance to sustainable development, and most of them present their annual decisions in sustainability reports. However, most multinational corporations only execute sustainability decisions to establish a good corporate image and reputation and meet public expectations, without rigorously evaluating the feasibility of sustainability reports and subsequent measurements, so this article uses HP, a representative multinational corporation, and critically analyzes HP's sustainability reports in recent years using the well-known and widely used GRI framework and corporate social responsibility theory.

The Influence of Internal Corporate Social Responsibility Factors on the Innovation Climate of Employees in the Healthcare Industry

This study examined the relationship between employee innovation and employee-initiated corporate social responsibility (CSR) elements in medical diagnostic enterprises in Pakistan during the COVID-19 pandemic. The research identified nine variables of employee-driven CSR, including communication, empowerment, and work satisfaction. Theoretical framework of the study based on theory of corporate social responsibility and expectancy theory of motivation. It evaluated their effects on the atmosphere for employee innovation using statistical analysis by using SPSS and after collecting data by using a survey questionnaire. The study population was employees working in the healthcare industry in Pakistan. The findings showed that employee-driven CSR and innovation were significantly correlated, with work satisfaction having the most impact. Overall, this quantitative study provides important insights for both theoretical understanding and practical application in fostering innovation through CSR initiatives. It emphasizes the critical role of job satisfaction as a key motivating factor for innovation within the framework of employee-driven CSR in the medical diagnostics sector.

Challenges and Opportunities of Integrating Social Responsibility and Ethical Practices in Hospitality and Tourism Operations in Ghana

Purpose: The study sought to analyze the challenges and opportunities of integrating social responsibility and ethical practices in hospitality and tourism operations.
 Methodology: The study adopted a desktop methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library.
 Findings: Integrating social responsibility and ethical practices in Ghana's hospitality and tourism sector faces challenges like limited awareness, resources, and cultural sensitivities. Despite hurdles, opportunities exist for positive change. Sustainable practices can drive economic development and community engagement, while conservation efforts enhance destination appeal. Collaboration among stakeholders is crucial for overcoming challenges and maximizing benefits.
 Unique Contribution to Theory, Practice and Policy: Stakeholder theory, Corporate social responsibility (CSR) theory & Triple bottom line theory may be used to anchor future studies in the challenges and opportunities of integrating social responsibility and ethical practices in hospitality and tourism operations. Implement robust social responsibility programs that address the specific needs and concerns of local communities, employees, customers, and other stakeholders. Advocate for the development and implementation of supportive policies and regulations that incentivize and reward social responsibility initiatives in the hospitality and tourism industry.

Feminist Corporate Social Responsibility: Reframing CSR as a Critical Force for Good

AbstractWhile corporate social responsibility (CSR) research is now impressively broad, we identify fresh opportunities at the intersection of feminist and critical analysis to reframe this field as a force for good. We focus on the epistemological grounding of CSR in its potential to understand and change how managerial activity is interpreted and influenced for progressive ends. We approach this through a reading of the debate on CSR's limited practical use, to imagine a better methodological and purposeful future for CSR. This involves a different, feminist, political and ethical stance for researchers in relation to CSR as an object, to bring CSR theory and practice into alignment in order to revive its sense of purpose as a driving organizational force for good. Our change‐orientated approach is based on a reading of Judith Butler's notion of critique as praxis of values; it is politically aware, reflexive, and focused on the goal of good organization to address grand, often existential, challenges. We conclude by showing how this approach to CSR brings a more transparent way of analysing practice, requiring reflexive action on the part of those working with CSR initiatives both as practitioners and as researchers to co‐produce better futures.

Corporate social responsibility program: Based on community development in the village

Corporate Social Responsibility (CSR) is an action taken by a company as a form of social responsibility and the surrounding environment where the company operates. In this case, PT Pertamina Hulu Energi West Madura Offshore coordinates with Sidorukun Village to determine the fostered residents and beneficiaries of the CSR program. The purpose of this study to analyze/ explain the community empowerment-based CSR program in the village. This research uses a qualitative approach. Data collection techniques were carried out using observation, documentation and interviews. Researchers used purposive sampling and snowball sampling techniques to determine informants. The findings show that the implementation of CSR by PT Pertamina Hulu Energi West Madura Offshore is based on the CSR theory according to Sen and Bhattacharya, namely Community Support; Employee Support; Diversity; Environment; Non-US Operations; and Products, it can be concluded that the CSR of PT Pertamina Hulu Energi West Madura Offshore has met the theoretical criteria, starting from company policies that support education, health, and SME development programs. The implementation of nature conservation activities, innovation of processed products, and the company also provides employment opportunities for the community and pays attention to public safety and health during community empowerment activities.

Implementation of the Corporate Social Responsibility Program through Empowering Rural Communities

This research focuses on the implementation of Corporate Social Responsibility (CSR) programs through empowering rural communities. The background of this research is because there are still many CSR implementations carried out by the company in the area where the company stands which are not appropriate and unsustainable. This research uses a bibliographic study method by utilizing literature materials in the form of books, journals and articles that are related to the title and theme of the study. In the focus of discussion in this research, there are several relevant theories, namely the theory of community empowerment, the theory of rural communities and the theory of corporate social responsibility. The result of this research is that community empowerment is one of the ideal methods for implementing Corporate Social Responsibility (CSR) programs. With rural community empowerment programs, the company implements empowerment based on the use of natural resources and human resources to create new sources in improving the quality of social, economic and environmental life of the community.

Can corporate ESG performance improve audit efficiency?: Empirical evidence based on audit latency perspective.

Environmental, Social and Governance (ESG) is closely related to the "dual carbon" objective and the concept of sustainable development. The impact of ESG performance on audit efficiency, especially on audit delays, is still an issue to be studied in depth. Drawing on stakeholder theory, sustainable development theory, shared value concept and corporate social responsibility theory, this study adopts regression analysis and structural equation modeling (SEM) to investigate the impact of ESG on audit efficiency based on the data of A-share listed companies in the period of 2015-2022, with a focus on audit delay. The results of regression analysis show that ESG performance has a significant effect on reducing audit delay, and audit delay is reduced by 0.007 on average for each unit increase in ESG performance. In structural equation modeling, the effect of ESG performance on audit delay is more significant, with an estimated value of -0.555 and a standard error of 0.097. In addition, the study shows that the corporate ESG performance on audit efficiency has a positive impact is more pronounced among firms with stronger ESG practices, especially among non-state-owned firms with lower institutional investor ownership and firms audited by "Big Four" firms. These results not only demonstrate the importance of ESG performance in improving audit efficiency, but also provide important guidance for corporate management and policy making. This study enriches the existing literature on corporate ESG performance and audit efficiency and provides new perspectives and directions for future research.