Facets Of Corporate Social Responsibility Research Articles

Corporate Social Responsibility: A Boon to Corporate Governance

Abstract: Corporate governance refers to the system of rules, practices, processes, and structures by which a company is directed, controlled, and operated. It encompasses the relationships and responsibilities among various stakeholders, including shareholders, management, the board of directors, employees, customers, suppliers, and the broader community. Corporate Social Responsibility (CSR) refers to the ethical and moral obligations that businesses and corporations have towards society and the environment beyond just maximizing profits. CSR includes socially responsible ways to earn profits and operating a transparent business to achieve an overall social and environmental sustainability. It also includes the various activities businesses use their profits for in order to use them for various social and environmental development. The purpose of this essay is to examine the various facets of corporate social responsibility and to evaluate the roles Indian businesses have played in various CSR initiatives.Corporate social responsibility should be viewed as an essential component of a business entity's primary operation rather than just as charity. This research paper will create a theoretical framework that explicitly connects the characteristics of CSR committees, board diversity, and financial performance. It will examine the various facets of corporate social responsibility and to evaluate the roles played by companies in carrying out various CSR initiatives

Family oblige: the link between CSR and succession intention in small and medium family firms

This study investigates how family continuation, namely family tradition and succession intention, alter the socially responsible behavior of small and medium sized (SME) family firms. Using a unique dataset, we have conducted multiple regressions on survey data from German family SMEs and show a statistically and economically significant increase in Corporate Social Responsibility (CSR) alongside the planning of family succession. However, when analyzing the different facets of CSR, we have found strong variances: While succession intention goes along with an increased community, market, and supply chain engagement this is not the case for CSR directed towards employees, or the environment. Family tradition didn’t correlate with a change in CSR behaviour to a relevant extent. In our theoretical embedding we employed socio-emotional wealth (SEW) theory to explain our findings. Thereby, our study fills a gap in the literature adding the perspective of SME family firms on the use of CSR in the context of family succession and also adding to the theoretical understanding of SEW.

Corporate social responsibility and credit risk

We study the relationship between corporate social responsibility and credit risk for U.S. and European firms over the period 2003 to 2018. Differentiating between the various facets of corporate social responsibility shows that only environmental aspects are negatively related with various measures of credit risk for U.S. firms. For European firms, both environmental and social aspects are negatively associated with credit risk. Surprisingly, we find that credit ratings do not reflect the same contemporaneous relationship with corporate social responsibility. Our results are robust against different estimation methods.

CSR achievement, reporting, and assurance in the energy sector: Does economic development matter?

Drawing on signaling theory and the greenwashing tendency, the objective of this study is to explore the connection among four facets of corporate social responsibility (CSR) practice: CSR performance, CSR reporting, following the Global Reporting Initiative (GRI) guidelines in preparing CSR reports, and verifying the reliability of CSR reports through an external assurance statement. The sample of the study includes 2244 firm-year observations of energy firms listed in the Thomson Reuters Eikon database for the period 2012–2018. Panel data analysis with fixed effects is used as the empirical methodology. The findings lend support to signaling theory and reject a greenwashing tendency in the energy sector with the validation of hypothesized relationships. More specifically, higher CSR performers show their CSR commitment by issuing CSR reports as well as by adopting GRI guidelines in their CSR reports and verifying the reliability of the contents of their reports through an external assurance statement. Moreover, GRI framework adopters are more likely to obtain external assurance of their reports. The examination of these relationships considering the economic development levels of countries highlights notable differences: all hypothesized connections are stronger for firms established in middle-income countries than for those in high-income countries except for one dimension.

Corporate Social Responsibility and Credit Risk

We study the effects of corporate social responsibility on credit risk for U.S. and European firms over the period 2003 to 2018. Differentiating between the various facets of corporate social responsibility shows that only environmental aspects reduce different measures of credit risk for U.S. firms, whereas both environmental and social aspects do so for European firms. Surprisingly, we find that credit ratings do not reflect these credit-risk reducing effects of corporate social responsibility. Our results are robust against different estimation methods.

CORPORATE SOCIAL RESPONSIBILITY IN EUROPEAN AND ASIAN COUNTRIES

Abstract : The purpose is to study the two facets of corporate social responsibility (CSR) and their similarities and differences between European and Asian countries in different industries. A survey was conducted in Estonian, Chinese, Finnish, Slovakian and Japanese enterprises. Data about two facets of corporate social responsibility, three different branches and five different countries were compared by applying Lorents’s metrics. The ordered pairs were created for each branch and country priorities separately. The distances between priorities were calculated. The total number of respondents was 4187. CSR is influenced by social and cultural environment and industry where the organisation operates. From two facets of CSR the firm respect the interests of agents is more connected with cultural backround than with economic development. The second facet of CSR - firm performance concerning social issue – is more connected with industry than culture. There could also be other factors like ethics, leadership, innovation influencing corporate social responsibility and its similarities and differences in different countries.Keywords :corporate social responsibility, China, Estonia, Finland, Slovakia and Japan

The Impact of Corporate Social Responsibility on the Innovation Climate

Research was supported by ETF grant 7537 The purpose of this paper is to investigate connections between climate and corporate social responsibility (CSR). The survey was conducted in Estonian, Chinese, Japanese, Russian, Slovakian, Czech, Finnish and German electric-electronic machine, retail store and machine-building enterprises. The Schumpeterian definition (Shumpeter, 1934) of states that the commercialization of all new combinations is based upon the application of any of the following: new materials and components, the introduction of new processes, the opening of new markets, and the introduction of new organizational forms. According to Janszen (2000) when a change in technology is involved it is termed an invention and when the business world is involved, it is an innovation (Janszen, 2000). Different organizations have different definitions about CSR, but there is similar ground between them (Ubius & Alas 2009; Tafel-Viia & Alas 2009). Today leaders face a challenge in order to apply societal ethical standards to responsible business practice (Morimoto et al., 2005) during changes triggered by changing environment (Alas 2008; Alas et al 2009a; Alas et al 2009b; Alas et al 2010; Sepper & Alas 2008) and taking place in different cultures (Alas & Edwards 2011; Alas et al 2011). Corporate social responsibility is regarded as a crucially important issue in management nowadays (Cornelius et al., 2008; Humphreys & Brown, 2008). The previous research study’s findings of no significant differences by the entrepreneur’s gender in venture innovation/risk situation, in strategies employed, and in satisfaction with performance support other recent research studies (Sonfield & Lussier, 1997). Recent evidences showed that the relationship between organizational commitment and discretionary measures of corporate social orientation is stronger for women than for men (Peterson, 2004) and that corporate charitable behavior, which is considered to be discretionary (Carroll, 1979) is viewed more favorably by women than men (Roberts, 1993). Linear regression analysis was done in order to analyze connections between climate and corporate social responsibility. Data about three different age groups, two different genders and two different education levels were compared by means of the T-test and ANOVA-test. The total number of respondents was 6094. The results of an empirical study show that corporate social responsibility predicts climate but it depends on the employees` gender, age and education level. From this study corporate social responsibility predicts climate among younger and middle age groups. One facet of corporate social responsibility – the firm performance concerning social issues predicts climate among older age group. Corporate social responsibility predicts also climate among men. Corporate social responsibility predicts climate among respondents with high level of education. One facet of corporate social responsibility - the firm performance concerning social issues predicts climate among respondents with low level of education. Both facets of corporate social responsibility and climate were rated higher among women and lower among men. Both facets of corporate social responsibility and climate were rated higher among younger age group and lower among middle and older age group. There weren’t big differences among respondents with low and high levels of education according to the two facets of corporate social responsibility - the firm performance concerning social issues and the firm respects the interests of agents and climate. DOI: http://dx.doi.org/10.5755/j01.ee.23.3.1935

Facets of Corporate Social Responsibility in Today's Era - A Case Study Mahindra and Mahindra Ltd

A business doesn't exist in isolation, simply as a way of making money. Customers, suppliers and the local community are all affected by a business. Products, and the way you make them, have an impact on the environment. Corporate Social Responsibility (CSR) takes all this into account and helps the business to create and maintain effective relationships with your stakeholders. It isn't about being 'right on', or mounting an expensive publicity exercise. It means taking a responsible attitude, going beyond the minimum legal requirements and following straightforward principles that apply, whatever the size of your business. Corporate Social Responsibility is a function of operating a business that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. Corporate Social Responsibility is one such niche area of Corporate Behavior and Governance that needs to get aggressively addressed and implemented tactfully in the organizations. 'Benefit From Corporate Social Responsibility' -publicity like this can be a key part of using CSR to win contracts. People want to buy from businesses they respect. CSR can be particularly effective for targeting ethical companies, the public sector and not-for-profit organizations. At the same time, you should see CSR as part of a continuing process of building long-term value. Everything you do should help to improve your reputation and encourage customers and other stakeholders to want to be involved with you. A business that buys recycled paper - but exploits its customers and ignores the community - has missed the point. Effective CSR like this helps you continue to differentiate yourself. Even with dozens of competitors, a real commitment to CSR lets you stand out.

Organizational Culture Types as Predictors of Corporate Social Responsibility

The purpose of this paper is to investigate connectionsbetween corporate social responsibility and organizationalculture types. The survey was conducted in Estonian,Chinese, Japanese, Russian, Czech, Finnish, German andSlovakian electric-electronic machine, retail store andmachine-building enterprises. The main aim of the study isto find connections between corporate social responsibilityand different organizational culture types.According to Cameron and Quinn (1998), culturedefines the core values, assumptions, interpretations andapproaches that characterise an organization. CompetingValues Framework is extremely useful in helping toorganize and interpret a wide variety of organizationalphenomena. The four dominant culture types – hierarchy,market, clan and adhocracy emerge from the framework.According to Strautmanis (2007), social responsibilityis part of organizational culture and a value in theorganizational culture environment. Development of socialresponsibility is a change in values orientation, whose taskis shaping the attitudes, transformation of the personalposition so that it matches individual and public interests.Different organizations have framed different definitionsabout corporate social responsibility - although there isconsiderable common ground between them. Nowadayscorporate social responsibility is an integral part of thebusiness vocabulary and is regarded as a cruciallyimportant issue in management (Cornelius et al., 2008;Humphreys, Brown, 2008).In order to find connections between corporate socialresponsibility and organizational culture, the authorsconducted an empirical study in 2007-2008. The totalnumber of respondents was 6094. A standardizedorganizational culture and corporate social responsibilityquestionnaire comprising 38 items was developed by theDenki Ringo research group (Ishikawa et al, 2006). Thequestionnaire was administered in Estonian, Chinese,Japanese, Russian, Czech, Finnish, German and Slovakianelectric-electronic machine, retail store and machinebuildingenterprises. Data about four different culturetypes and eight different countries - Estonia, China, Japan,Russian, Czech, Finnish, German and Slovakian werecompared by means of the ANOVA-test. The linearregression analysis was used in order to find statisticallyrelevant connections between corporate social responsibilityand organizational culture. The model was developed inorder to explain how four organizational culture types -hierarchy, clan, market, adhocracy - predict two facets ofcorporate social responsibility - the firm performanceconcerning social issues and the firm respects the interestsof agents.The main research question is: How does organizationalculture predict corporate social responsibility?According to the results, clan, hierarchy andadhocracy culture types predict two facets of corporatesocial responsibility - the firm performance concerningsocial issues and the firm respects the interests of agents.Market culture type predicts one facet of corporate socialresponsibility - the firm performance concerning socialissues. Different organizational culture types are dominatingin enterprises from different countries. In Estonian andFinnish enterprises clan, in Chinese enterprises marketand adhocracy, in Japanese enterprises market andhierarchy, in Russian and German enterprises market, inCzech and Slovakian enterprises hierarchy culture typeswere dominating in enterprises. Organizational culture isinfluenced on national culture where organization isoperating.

Working for the greater good? [corporate social responsibility

Climate protection, sustainable development and ethical behaviour are key facets of corporate social responsibility (CSR). It may sound worthy, but many managers now think having a CSR policy is good for business. The author reports on how engineers are starting to think globally.