Social Responsibility Efforts Research Articles

Implementation of deep learning models in predicting ESG index volatility

The consideration of environmental, social, and governance (ESG) aspects has become an integral part of investment decisions for individual and institutional investors. Most recently, corporate leaders recognized the core value of the ESG framework in fulfilling their environmental and social responsibility efforts. While stock market prediction is a complex and challenging task, several factors associated with developing an ESG framework further increase the complexity and volatility of ESG portfolios compared with broad market indices. To address this challenge, we propose an integrated computational framework to implement deep learning model architectures, specifically long short-term memory (LSTM), gated recurrent unit, and convolutional neural network, to predict the volatility of the ESG index in an identical environment. A comprehensive analysis was performed to identify a balanced combination of input features from fundamental data, technical indicators, and macroeconomic factors to delineate the cone of uncertainty in market volatility prediction. The performance of the constructed models was evaluated using standard assessment metrics. Rigorous hyperparameter tuning and model-selection strategies were implemented to identify the best model. Furthermore, a series of statistical analyses was conducted to validate the robustness and reliability of the model. Experimental results showed that a single-layer LSTM model with a relatively small number of neurons provides a superior fit with high prediction accuracy relative to more complex models.

Analysing the interplay of isomorphic pressures, perceived benefits and top management support on social responsibility performance of Belt and Road megaprojects

PurposeThis study aims to investigate the factors influencing the social responsibility performance of Belt and Road Initiative (BRI) megaprojects. Specifically, it examines the role of isomorphic pressures and the joint influence of perceived benefits and top management support on megaproject social responsibility performance (MSRP).Design/methodology/approachDrawing from institutional theory, social exchange theory, and top management literature, this study established a conceptual model featuring eleven hypotheses. Subsequently, a questionnaire survey was administered to collect data from 238 actively engaged participants in BRI megaprojects. Structural Equation Modelling was utilised to analyse the data.FindingsThe empirical findings indicate that mimetic and coercive pressures positively influence MSRP. Perceived benefits and top management support significantly enhance MSRP. Moreover, perceived benefits and top management support partially mediate the effects of coercive and mimetic pressures. However, when it comes to normative pressures, their impact on MSRP is solely channelled through the support of top management.Originality/valueThis study is one of the early endeavours to explore the factors influencing the social responsibility performance of BRI megaprojects. It sheds light on the interplay between external pressures and internal factors in shaping social responsibility efforts in these projects. These findings are of particular significance for BRI actors and stakeholders, offering guidance for enhancing social responsibility strategies within the context of BRI megaprojects.

Internal versus External Corporate Social Responsibility: Company Age and Size Moderate CSR Efficacy

Corporate social responsibility (CSR) efforts by established legacy brands are often seen as inauthentic. What can brands do to genuinely engage in CSR efforts? This study investigates internal CSR as a potential solution. CSR type (internal and external) and extrinsic cues (brand size and age) interact to affect congruence, authenticity, and subsequent purchase intention for companies that communicate these efforts on social media. Through a series of three experiments, we compare the effectiveness of internal and external CSR in influencing consumer perceptions. Results confirm that CSR is not a one-size-fits-all solution for brands. We find that Internal CSR is more effective for legacy (older, larger) brands, while external CSR is more effective for novel (newer, smaller) brands. This paper is among the first to conceptualize internal CSR as a potential strategy for legacy brands that often struggle for authentic ways to get involved with social issues. Results indicate that consumers want to see larger, older brands try to "fix" themselves before they attempt to fix the world.

A Review of Renewable Energy Infrastructure Trends Literature: A Case Study of Shopping Mall, Pasar Gedhe Klaten, Indonesia

The trajectory of literature concerning renewable energy infrastructure has evolved substantially in recent decades, reflecting the escalating significance of renewable energy sources within the broader context of the global energy scene. A noticeable shift towards integrating renewable energy infrastructure into shopping malls has emerged in recent years, marking a broader movement towards sustainability and environmental accountability within the commercial sector. Historically, shopping malls have been significant energy consumers, heavily reliant on conventional sources like fossil fuels to meet their lighting, heating, and cooling needs. Yet, escalating concerns over climate change and energy expenses have increasingly prompted mall developers and operators to adopt renewable energy solutions. By incorporating solar panels, wind turbines, and geothermal systems, shopping malls can substantially diminish their carbon footprint, reduce energy costs, and bolster their environmental standing. Furthermore, this inclination aligns with corporate social responsibility efforts, as malls strive to underscore their dedication to sustainability and attract environmentally conscious patrons. Bolstered by governmental incentives and regulatory frameworks encouraging renewable energy adoption, the trajectory of renewable energy infrastructure in shopping malls in Pasar Gedhe Klaten, Indonesia, is anticipated to persist, delivering both environmental benefits and economic gains for stakeholders.

Exploring non-profit organisations’ communication channels and message content

Currently, organisations have to decide which communication channel to use due to changes in the media landscape. Communication occurs through various channels, such as television, radio, print, email, phone, social media, and messaging apps. Each channel has its own set of rules, conventions, and nuances, which influence how messages are interpreted and received. This study investigated ways in which non-profit organisations in South Africa communicate their corporate social responsibility efforts. A survey questionnaire was distributed to 245 employees of nonprofit organisations in Gauteng province, South Africa, and data were analysed using SPSS software. The findings identified meetings as one of the most frequently employed approaches for internal communication. Further, this study found that NPOs preferred older or established means of communication over newer media. More specifically, non-electronic media such as meetings and word-of-mouth were used more than electronic media such as emails or SMS messaging, whereas social media was used less frequently than electronic media. This study adds to the existing literature on corporate social responsibility communication by highlighting the types of messages and diverse communication channels used by South African nonprofit organisations. It provides information that can be utilised to comprehend the different communication channels used by non-profit organisations.

Consumers’ Engagement and Perspectives on Sustainable Textile Consumption

This study examines the knowledge and involvement of consumers in sustainability goals, aiming to provide valuable insights to the textiles and clothing industry to foster their social responsibility efforts and enhance consumer interaction. By comprehending and monitoring consumer behavior, organizations can effectively implement sustainable practices and work towards achieving sustainable development goals. For this study, a questionnaire was designed to evaluate consumer concerns, behavior, self-reliance, and perspectives across four key phases of interest in sustainable consumer behavior regarding textiles—acquisition, use, maintenance, and disposal. The results show a compelling insight into the mindset of participants who prioritize budget, quality, comfort, and functionality over sustainability when acquiring new textile items. Most respondents do not participate in clothing rental or sharing and predominantly refrain from purchasing second-hand products, but they expressed a readiness to extend the lifespan of their products and displayed concern about ensuring a responsible end-of-life for their belongings. Moreover, they attach importance to textile products’ social and informational attributes and demand transparency from brands. These valuable data can guide the industry in its interactions with consumers. Scholars are increasingly committed to sustainability and its implications for practical application and policy development.

Perceived External CSR from Employees’ Perspective in Nepalese Banking Industry

In order to better understand how external corporate social responsibility (CSR) efforts in the Nepalese banking industry affect different employee-related outcomes, this paper examines how employees perceive these activities. In this study, staff of Nepalese commercial banks were given questionnaires as part of a descriptive research design in order to gather primary data. The sample size is 120 individuals from an actual sample. This finding suggests that workers have a strong understanding of external CSR activities taking place outside of the organization. It is also clear that employees are conscious of the effects of the CSR efforts and give them a favorable evaluation. The study also investigates the link between work happiness, organizational engagement, and overall views of CSR and employee perceptions of external CSR actions outside the firm. This finding suggests that workers in Nepal's banking industry may see external CSR efforts as positively affecting their loyalty to the firm and job happiness. The relevance of this poll emphasizes how crucial an external CSR strategy is to successfully raising employee happiness and fostering organizational engagement. The report's suggestions for commercial banks are meant to help them match their CSR initiatives with employee expectations and values to foster a productive workplace. Future study objectives include looking at ways to increase employee involvement in CSR initiatives, assessing the long-term effects of CSR efforts, and doing industry comparison studies. Overall, this study helps understand how Nepalese banking industry employees feel about external CSR initiatives.

THE EFFECT OF COMPANY VALUE, PROFITABILITY AND LIQUIDITY ON CSR DISCLOSURE

The objective of this research is to examine the impact of enterprise value, profitability, and liquidity of the entities on the disclosure of corporate social responsibility. Quota sampling method was chosen to determine sample data. Sample for this research is entities that have SRI-KEHATI index on Indonesia Stock Exchange with financial report years 2019-2021. This paper uses linear regression for hypothesis testing. The results are independent variable (enterprise value, profitability, and liquidity) positively effect to dependent variable (CSR Disclosure). This implies that companies with higher enterprise values, profitability, and liquidity are more inclined to disclose information about their corporate social responsibility efforts.

Effects of empathy and egoism on CSR perceptions and consumer buycotts: Lessons learned during global crisis in support of equitable business practices

ABSTRACT Consumer polarization leading to buycotts and boycotts was magnified by the global crisis of 2020–2021 which changed consumer priorities and business practices: in-person shopping decreased, while social distancing, remote work, and media consumption increased. In this context, we examined the relationships among egoism, empathy, and consumer interest in social topics. These topics included employee treatment, social justice, and the environment. We highlighted aligning Corporate Social Responsibility (CSR) efforts with consumer values. Using a survey method and structural equation modeling, we found such efforts increased consumer buycott. In this research we addressed whether consumers were motivated by empathy or egoism to engage in buycotting during global crisis. Consumers reacted to a firm’s adherence to health and safety guidelines, respect for human rights, and engaged in environmental protection. This study contributes to the literature on CSR and prosocial behavior. It examined the relationships among key consumer characteristics and corporate behavior in times of crisis and expands the existing literature on psychological factors that play a role in buycotting. The findings are applicable to policy makers, academic literature, and practice as it offers practical recommendations on how companies might consider realignment of CSR activities during crisis. It also suggests directions for future research.

Author Meets Critics: Branding Black Womanhood: Media Citizenship from Black Power to Black Girl Magic

Abstract: This discussion centers on Timeka Tounsel's book Branding Black Womanhood: Media Citizenship from Black Power to Black Girl Magic (Routledge, 2022). In this meeting, participants examined the various ways in which Black women's empowerment became a commercial, image-driven enterprise and the ways Tounsel's methodology unpacks issues of race, gender, power, markets, identity, and visibility. Black Girl Magic, a central construct of the book, was a phrase coined in a 2013 tweet proclaiming Black women's resilience, which, less than five years later, was employed regularly commercially. A significant part of this book conversation discusses how the book explores how Essence , under the leadership of Susan L. Taylor, encouraged self-branding and conscious consumerism for Black women. The conversation also discusses how the book includes case studies of campaigns led by Black women and companies' corporate social responsibility efforts. Lastly, the book covers positive outcomes where media producers have used the idea of Black Girl Magic to advance more inclusive visions of media citizenship for Black women.

Equity market performance: The role of environmental protection and corporate social responsibility efforts

AbstractBusinesses that contribute to social welfare and development are regarded as reliable and generate more wealth for their stakeholders. This study attempts to determine how corporate social responsibility (CSR) and environmental protection measures influence the financial performance of Indian businesses. A panel dataset containing 330 Nifty 500 companies is included to determine their relationship. The quarterly and semi‐annual share prices are employed as proxies for the financial performance of companies. In the regression model, the lagged share prices (log) of two periods serve as the response variable, while the CSR and the CSR plus the environment and pollution control expenses (CSREP) serve as explanatory variables. The results suggest that the fixed‐effect regression model is suitable where the explanatory variables are time‐invariant and the relationship between the dependent and explanatory variables across firms is constant over time. Our analysis indicates that CSR spending alone has little effect on the share prices of companies over two prospective time periods. However, as companies invest more in environmental and pollution control activities in addition to their CSR expenditure, the market recognises this as a significant factor, and their share prices rise. Consequently, we discovered that CSREP (CSR plus environmental and pollution control expenditure) is a significant factor that influences quarterly and semi‐annual share prices.

The Impact of Social Responsibility and Organizational Accountability on the Performance of Public Librarians in Iran

A Review of: Soltani-Nejad, N., Jahanshahi, M., Karim Saberi, M., Ansari, N., & Zarei-Maram, N. (2022). The relationship between social responsibility and public libraries accountability: The mediating role of professional ethics and conscientiousness. Journal of Librarianship and Information Science, 54(2), 306–324. https://doi.org/10.1177/09610006211014260 Objective – To determine how librarians' perceptions of public libraries' social responsibility and accountability within society affect their professional ethics and conscientiousness. Design – Quantitative, survey questionnaire. Setting – Public libraries in Iran. Subjects – Survey respondents (N=362) were public librarians* (see note below). Methods – The authors created a theoretical model based on six separate hypotheses, describing the relationship between the following variables: corporate social responsibility, organizational accountability, professional ethics, and conscientiousness. A questionnaire was distributed to the participants. SPSS 21.0 was used for the analysis of demographic data and SMART PLS 3.0 was used to assess the theoretical model. Main Results – The results show a significant, positive, and direct relationship between the variables being studied (corporate social responsibility, organizational accountability, professional ethics, and conscientiousness), therefore confirming the relevance of the authors’ theoretical model. Conclusion – The results of this study demonstrate the importance of promoting the social responsibility and organizational accountability efforts of public libraries. The data suggest that doing so will strengthen the positive perception of the library amongst employees, which will in turn have a positive effect on their professional ethics and conscientiousness. The authors suggest that library managers need to create a culture of accountability and ethics within libraries. They can do so by incorporating ethics and social responsibility in decision-making and policies. Additionally, the authors propose that professional ethics training in library curricula and continuing education would provide librarians with the knowledge necessary when encountering ethical dilemmas on the job.

Business Responses Towards Corporate Social Responsibility and Sustainable Development Goals During Covid-19 Pandemic

Objective: In India, incorporating structural transformation in corporate social responsibility for achieving sustainable development goals in the Covid-19 Pandemic has become a priority. Therefore, the present article aims to review the corporate social responsibility activities conducted by Nine Indian companies (two public sector organizations and seven private sector organizations) towards attaining Sustainable Development Goals in times of global pandemic.
 
 To explore CSR activities performed by the Indian companies (both public and private) in recent times of crisis of covid-19.
 To assess the impact of Covid-19 on the economic, social, and technological environment of Indian Companies in recent times.
 
 
 Method: For our research, we chose India since it was one of the earliest and worst-hit countries during the recent pandemic. Even though huge Asian corporations are a minority, It is a good fit for our study goal for various reasons. Less and medium-sized businesses, on the other hand, have a far smaller influence on society, Due to their prominence in the press, clients or consumers are more likely to provide feedback if they are proactive. As a second point, major companies have greater resources (e.g., human and financial) to spend on reporting and distributing social and environmental information. The existing study applied bibliometric analysis in the exploratory research. The data collection done through secondary sources in which articles extracted with the use of PRISMA flowchart.
 
 Result: The study's findings state that most selected Indian Companies spend Rupees 50-1000 crores as corporate social responsibility activities and contribute to the Pradhan Mantri Relief Fund as a business response to face challenges in times of pandemic. Moreover, private companies spend more on CSR activities than public companies in India. The study provides suggestions to the government to make the corporate social responsibility activities compulsory for all the profitable companies so that country can maintain a corporate pool of contingent funds that can utilize to meet such times of critical circumstances.
 
 Conclusion: Companies are taking steps to ensure the safety and protection of their personnel. This has been reflected in corporate social responsibility initiatives as well. Corporate social responsibility efforts must include pushing for and facilitating access to health insurance programmes and other equity indicators as a result.

Corporate social responsibility's relationship with marketing and financial performance of agricultural companies: a case study in East Java, Indonesia


 
 
 
 
 
 
 
 
 
 Agricultural companies that produce utilitarian products must prioritize corporate social responsibility (CSR) efforts to uphold their reputation (Rep) and ensure long-term sustainability through superior performance. This study aims to examine the relationship between corporate responsibility and corporate financial and marketing performance, with differentiation strategy (Diff), firm size (FS), internationalization (Int), perceived external pressure (PEP), and altruism (Alt) acting as drivers of CSR initiatives. Employing a quantitative research approach, this study utilized the fuzzy inference system (FIS) to identify the predictive relationships between variables. Purposive sampling was employed to select five legally incorporated agricultural companies in East Java. The findings indicated that, at specific value thresholds, Diff, FS, Int, PEP, or Alt could serve as drivers of CSR efforts and were associated with corporate financial performance (CFP) and corporate marketing performance (CMP) from the perspectives of CSR, Rep, and PEP. The FIS output models, aligned with the proposed hypotheses, demonstrated that certain values of these input variables positively influence the direction of the output variables. Therefore, company policymakers should carefully consider the value levels of these variables and strive to maintain them to enhance CSR efforts and improve financial and marketing performance effectively. These factors were vital for the sustainability of agricultural companies in East Java.
 
 
 
 
 
 
 
 
 

Corporate Social Responsibility and COVID-19: Doing Good and Doing Well

Since the first case was reported in December 2019, COVID-19 has dramatically disrupted the globe, severely impacting physical and mental health worldwide as well as creating one of the worst economic crises since World War II. Among other industries, the hospitality industry was one of the most severely impacted by the pandemic. Due to the unprecedented economic downturn caused by the nationwide lockdowns and social distancing measures, millions of hospitality employees lost their jobs, and the value of stocks in the hotel, restaurant, casino, airline, and cruise industries plunged sharply. However, despite the severe and challenging economic circumstances, numerous hospitality companies spontaneously initiated a variety of corporate social responsibility (CSR) efforts to help cope with the spread of the COVID-19 pandemic, such as donations to communities and support for employees. Therefore, the objective of this case study is to explore various CSR practices that hospitality companies employed to support their people and communities. The current case study provides unique contributions not only to hospitality literature but also to CSR literature in a timely manner, considering the pandemic as a pivotal point in human history when hospitality companies can provide such beneficial impact to society. This study additionally presents vital insights to hospitality executives in charge of CSR initiatives.

Corporate social responsibility and women's empowerment: evidence from India

The purpose of this paper is to explore the extent of the inclusion of women in the corporate social responsibility (CSR) efforts in the Indian context under the framework of women empowerment and gender equality. The paper problematises the concept of the term women empowerment as understood and promoted by companies under their CSR strategy. The study is qualitative in nature, based on the CSR foundations of two pharmaceutical companies. The data has been collected from four locations - Bharatpur (Rajasthan), Goa, Kanpur Dehat (Uttar Pradesh), and Lucknow (Uttar Pradesh). Although the foundations claim to contribute to women empowerment and gender equality through their CSR policies, the paper finds that the CSR activities implemented by these foundations are not contributing to women empowerment in its entirety. Instead, it is reinforcing the stereotypical roles of women by retaining them in particular kinds of professions and roles. The paper looks at the CSR activities from the viewpoint of women, providing us with a new vantage point to understand CSR policies. It explores aspects which otherwise remain hidden and tend to be overlooked.

Effect of Attributions on Consumer Response to CSR Efforts with Consumer Trust as the Moderator

This study aims to examine the effect of other and self-serving attributions on the consumer response to corporate social responsibility (CSR) efforts with consumer trust as the moderator. This study also examines the differences in perceptions between men and women in assessing the motives of CSR efforts. Data were collected through a questionnaire survey of 122 students at a private university in Bandung. Multiple linear regression, independent simple T-Test, and F test were used for data analysis. Results prove that other-serving attributions have a positive effect on consumer response to CSR efforts. Meanwhile, self-serving attributions have a negative effect on consumer response to CSR efforts. When moderated by consumer trust in the firm, other-serving attributions will increase the consumer response to CSR efforts, whereas self-serving attributions will further reduce the consumer response to CSR efforts. Differences in perceptions are found between men and women regarding the consumer response to CSR efforts. This study implies that the development of CSR efforts needs to consider attributions and consumer trust in the firm.

The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance

AbstractSince stakeholders cannot directly observe corporate social responsibility (CSR) efforts, companies attempt to back up their increasing sustainability claims by sending CSR signals. The environment in which signaling takes place influences the credibility of the signals. Among the factors that make up the signaling environment, the overall exposure of the company to different stakeholders (i.e., stakeholder scrutiny) has been neglected by the literature. Using signaling and stakeholder theories, we argue how stakeholder scrutiny shapes CSR signals' credibility. We empirically analyze a sample of 5762 firms across several sectors from 23 developed countries from 2013 to 2017. Stakeholder scrutiny exercises a positive effect on the credibility of CSR signals through a mediated‐moderated impact of CSR (across environmental, social, and governance dimensions) on firm performance.

The Influence of Chinese Professional Basketball Organizations’ (CPBOs’) Corporate Social Responsibility (CSR) Efforts on Their Clubs’ Sustainable Development

The positive effects of corporate social responsibility (CSR) on professional sports organizations’ (PSO) sustainable development have been studied in developed markets, e.g., the major four leagues in North America. To assess if CSR has similar effects on the emerging market, this study collected 373 questionnaires among the Chinese Basketball Association (CBA) fans. The descriptive statistical results verified consumers’ positive responses to CSR in their favorite clubs in enhancing their team identification, loyalty, and purchase intentions of game tickets. There existed a strong relationship between team identifications and the clubs’ sustainable development. However, the results of the structural equation modelling indicated that the relationship between CSR and the clubs’ sustainable development was weak. The results indicated that fans generally considered a CBA team’s CSR effort as important, but the importance was not proportional to CSR-related team identification or the clubs’ sustainable development. Moreover, the lack of structural validity within each construct calls for more research frameworks and questionnaire designs for CSR investigations in the context of the emerging market. The practical implication of this study was that clubs with financial difficulties were only suggested to do what they could afford to do in CSR activities rather than get involved more than they could bear.

Do well, do good, and know your audience: the double-edged sword of values-based CSR communication

The Corporate Social Responsibility (CSR) efforts of brands impact consumers’ willingness to support them, yet consumers are generally skeptical about CSR communication. This empirical work uses three experimental studies to show that framing CSR messages in values-based terms (“It is our duty to engage in this CSR initiative”) enhances consumers’ brand attitudes by increasing perceived moralization and perceived commitment to the initiative. More interestingly, we show that this effect is reversed for highly formalistic consumers (those motivated by the duty to follow values, principles, and rules) who are opposed to the CSR initiative. We also show that in the long term, values-based frames can lead to higher perceived hypocrisy in the eyes of highly formalistic people if the firm does not live up to its lofty principles. This is the first paper to establish the link between values-based CSR communication, perceived moralization, perceived commitment, and brand attitudes. It also brings together the research streams on CSR communication and consumer ethical systems to show that though values-based framing of CSR is a high-return strategy for brands in terms of improved brand attitudes, it is also a high-risk strategy for firms targeting highly formalistic consumers.