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Article

Bixia Xu and Tao Zeng

This paper aims to examine corporate social responsibility (CSR) in the context of listed Chinese firms. In particular, it examines the relationships between CSR and…

Abstract

Purpose

This paper aims to examine corporate social responsibility (CSR) in the context of listed Chinese firms. In particular, it examines the relationships between CSR and profitability, state ownership and tax reporting behavior.

Design/methodology/approach

The paper is an empirical study using CSR reports published by the Chinese Academy of Social Sciences and financial data collected from the China Stock Market Financial Statement Database (CSMAR).

Findings

The paper finds that state ownership is positively associated with CSR and its three components including the governance, social and environmental scores; firm profitability is positively associated with CSR and its market score; and tax reporting behavior is negatively associated with the environmental score. But the result is weak.

Research limitations/implications

The results in this study should be treated with some caution as the sample size of 85 observations represents only a small fraction of China’s listed firms. A larger sample size is desirable and may affect our results.

Social implications

This paper is of interest to policy-makers, corporate management and academics who wish to explore the relationship between CSR and other firm characteristics.

Originality/value

This paper is the first study which provides a comprehensive examination of CSR and its four components in connection with Chinese firms. In particular, it examines the relationship between CSR and profitability and state ownership.

Details

Social Responsibility Journal, vol. 12 no. 1
Type: Research Article
ISSN: 1747-1117

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Article

Iben Bolvig

To analyse two important effects of the level of social concern in the firm. First, the effect on the labour force composition, i.e. do particular types of concerns…

Abstract

Purpose

To analyse two important effects of the level of social concern in the firm. First, the effect on the labour force composition, i.e. do particular types of concerns attract certain kinds of employees? Second, the effect on the wage level within the firm, i.e. do firm‐provided social concerns substitute for money wages, or are they provided as an additional compensation?

Design/methodology/approach

Empirical analysis using a survey on more than 2,000 firms, linked to administrative data for each employee in the firms. Estimates wage equations using the IV approach to deal with endogeneity of the level of social concerns. Two competing theories aiming to explain the use of social concerns toward employees, the compensating wage differential theory and corporate social responsibility, are compared.

Findings

Finds indications in favour of the compensating wage differential theory when looking at wage effects at the firm level, whereas looking at the target group level finds that white‐collar workers might experience higher levels of social concerns without having lower wages, which contrast the theory of compensating wage differentials.

Originality/value

The paper compare two well‐established theories within two different disciplines – the compensating wage differential theory from economics, and CSR from management. This is done using solid empirical analysis.

Details

International Journal of Manpower, vol. 26 no. 7/8
Type: Research Article
ISSN: 0143-7720

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Article

Gawon Yun, Mehmet G. Yalcin, Douglas N. Hales and Hee Yoon Kwon

The purpose of this paper is to evaluate the research conducted among the interim, dyadic interactions that bridge the stand-alone measures of economic, environmental and…

Abstract

Purpose

The purpose of this paper is to evaluate the research conducted among the interim, dyadic interactions that bridge the stand-alone measures of economic, environmental and social performance and the level of sustainability, as suggested in the Carter and Rogers (2008) framework.

Design/methodology/approach

This paper conducts a systematic literature review based on the Tranfield et al. (2003) method of the articles published in 13 major journals in the area of supply chain management between the years 2010 and 2016. Results were analyzed using an expert panel.

Findings

The area of research between environmental and social performance is sparse and relegated to empirical investigation. As an important area of interaction, this area needs more research to answer the how and why questions. The economic activity seems to be the persistent theme among the interactions.

Research limitations/implications

The literature on the “environmental performance and social performance (ES)” interactions is lacking in both theoretical and analytical content. Studies explaining the motivations, optimal levels and context that drive these interactions are needed. The extant research portrays economic performance as if it cannot be sacrificed for social welfare. This approach is not in line with the progressive view of sustainable supply chain management (SSCM) but instead the binary view with an economic emphasis.

Practical implications

To improve sustainability, organizations need the triple bottom line (TBL) framework that defines sustainability in isolation. However, they also need to understand how and why these interactions take place that drive sustainability in organizations.

Originality/value

By examining the literature specifically dedicated to the essential, interim, dyadic interactions, this study contributes to bridging the gap between stand-alone performance and the TBL that creates true sustainability. It also shows how the literature views the existence of sustainability is progressive, but many describe sustainability as binary. It is possible that economic sustainability is binary, and progressive characterizations of SSCM could be the reason behind the results favoring economic performance over environmental and social.

Details

The International Journal of Logistics Management, vol. 30 no. 1
Type: Research Article
ISSN: 0957-4093

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Article

Sigmund Wagner-Tsukamoto

Revisiting Carroll’s classic corporate social responsibility (CSR) pyramid framework, this paper aims to evolve a novel synthesis of ethics and economics. This yielded an…

Abstract

Purpose

Revisiting Carroll’s classic corporate social responsibility (CSR) pyramid framework, this paper aims to evolve a novel synthesis of ethics and economics. This yielded an “integrative CSR economics”.

Design/methodology/approach

This theory paper examined how to conceptually set up CSR theory, argue its ethical nature and establish its practical, social and empirical relevance. Economic analysis reached out from contemporary institutional economics to Smith’s classic studies.

Findings

The paper reconstructed all of Carroll’s four dimensions of CSR – economic, legal, ethical and philanthropic responsibilities – through economics. The paper discounted a core assumption of much CSR research that economic approach to CSR, including the instrumental, strategic “business case” approach to CSR, were unethical and lacked any foundations in ethics theory. Integrative CSR economics reframes research on viability and capability requirements for CSR practice; redirecting empirical research on links between CSP (corporate social performance) and CFP (corporate financial performance).

Research limitations/implications

The paper focused on Carroll as the leading champion of CSR research. Future research needs to align other writers with integrative CSR economics. Friedman or Freeman, or the historic contributions of Dodd, Mayo, Bowen or Drucker, are especially interesting.

Practical implications

The paper set out how integrative CSR economics satisfies the “business case” approach to CSR and develops practical implications along: a systemic dimension of the market economy; a legal-constitutional dimension; and the dimension of market exchanges.

Social implications

Integrative CSR economics creates ethical benefits for society along: a systemic dimension of the market (mutual gains); a legal-constitutional dimension (law-following); and the dimension of market exchange (ethical capital creation). Social benefits are not only aspired to but also are achievable as a business case approach to CSR is followed.

Originality/value

The paper’s main contribution is a new synthesis of economics and ethics that yields an “integrative CSR economics”.

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Article

Filippo Vitolla, Michele Rubino and Antonello Garzoni

This paper aims to fill the existing gaps in literature which deal with both the application of a socially oriented philosophy to the theme of strategic corporate social…

Abstract

Purpose

This paper aims to fill the existing gaps in literature which deal with both the application of a socially oriented philosophy to the theme of strategic corporate social responsibility (CSR) integration and to the systematic analysis of the processes of strategic CSR management, and to create a connection between social management philosophy and the dynamic approach to CSR integration based on the strategic management processes. In particular, this study aims at creating a conceptual model to highlight, in a structured and organic way, the dynamic relationships, based on a social management philosophy, characterizing the integration of CSR in the different strategic management processes: formulation and implementation of both intended and emergent strategies. In relation to these goals, the following research questions are formulated: What are the most important strategic management processes in which to integrate CSR following a social management philosophy? How does integration (strategic CSR) based on social management philosophy impact these processes? How do strategic CSR processes based on social management philosophy determine strategic change? Which are the management tools which support integration based on social management philosophy?

Design/methodology/approach

The work is a conceptual paper. The paper has been developed as follows: the identification of the theoretical gaps; the definition of the research objectives; the literature review about both CSR integration and strategic management in a dynamic perspective; the formulation of the research questions; the conceptual analysis, based on social management philosophy, of the relevant propositions related to the dynamic approach to CSR integration; the building of the conceptual model based on the propositions; and the description and the analysis of the model.

Findings

In this model, three circles of change that are able to describe the integration of CSR into strategic management have been identified: A, the circle for achieving the strategic intent; B, the circle for formulating the strategic intent; and C, the circle of bottom-up innovations.

Practical implications

From a managerial perspective, it is possible to point out the following implications related to the integration of CSR into strategic management and the achievement of a strategic CSR: as for change dynamics which are linked to the formulations of the intended strategy, it is fundamental to develop a social management philosophy; to achieve the strategic intent, it is necessary to incorporate CSR actions into core activity of value chain; to favour the socially oriented bottom-up innovations, it is necessary to define a favourable organizational context; the strategic CSR must be supported by integrated tools and methodologies that make the rationalization of processes of change possible; and the application of tools and processes, even sophisticated ones, which are not based on social management philosophy may lead, in the long run, to negative tensions among stakeholders, as well as to serious repercussions on the firm’s management and its performance.

Social implications

It is possible to pinpoint other implications for the society: the circle for achieving the strategic intents, with the aim of improving the execution phase, increases the positive externalities and reduces the negative externalities of the economic activities; the circle for formulating strategic intents allows to identify a win–win solution for CSR issues; and the bottom-up entrepreneurship increases the chances to find innovative solutions which combine social aspects and competitive aspects.

Originality/value

The analyses provide an integrated approach, connecting strategic management and CSR in a dynamic perspective.

Details

Corporate Governance: The International Journal of Business in Society, vol. 17 no. 1
Type: Research Article
ISSN: 1472-0701

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Article

Anne-Kathrin Hinze and Franziska Sump

The purpose of this paper is to systematise the current state of research on the association between companies’ corporate social responsibility (CSR) engagement and…

Abstract

Purpose

The purpose of this paper is to systematise the current state of research on the association between companies’ corporate social responsibility (CSR) engagement and financial analysts’ company assessment. Additionally, it aims to identify fruitful directions for future research that contribute to a further exploration of the link between CSR and financial analysts.

Design/methodology/approach

This study reviews and synthesises existing research on CSR and financial analysts. Based on the research question, “What is the relationship between CSR engagement and financial analysts’ metrics?,” the authors conduct a systematic literature review. The authors search three major databases and use an extensive search term to ensure exhaustive coverage of the field. The paper then systemises the current state of research and identifies knowledge gaps and potential directions for future research.

Findings

The review of existing research shows that several studies confirm a positive link between CSR performance and analyst coverage, suggesting that external monitoring through analysts incentivises companies to enhance their CSR engagement. Further, results indicate that a company’s involvement in “sin” industries is linked to lower analyst coverage. Besides, a higher level of CSR disclosure is positively associated with analyst forecast accuracy, thus indicating that the provision of CSR-related information is linked to an enhanced information environment. High levels of CSR performance are associated with more positive recommendations from analysts. However, recent surveys and interview studies on analysts’ perceptions of CSR fail to uniformly support an increasing interest in CSR.

Research limitations/implications

For a better understanding of the link between CSR engagement and financial analysts, two fruitful directions for future research are observed. First, future research designs should clearly differentiate between CSR disclosure and CSR performance and take account of interdependencies between them. Second, studies should address behavioural insights into how analysts process information and the influence of individual analyst characteristics on the link between CSR engagement and an analyst’s assessment of a company.

Originality/value

This study is the first to review the literature on the relationship between CSR and financial analysts. The association between CSR and financial analysts is particularly interesting given the pivotal role financial analysts play as information intermediaries in financial markets. This study delivers an in-depth understanding of existing studies and their theoretical underpinnings. Based on the existing literature, this paper develops innovative directions for future research.

Details

Sustainability Accounting, Management and Policy Journal, vol. 10 no. 1
Type: Research Article
ISSN: 2040-8021

Keywords

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Article

Tianjiao Zhao, Xiang Xiao and Bingshi Zhang

The purpose of this paper is to show how the external issue of economic policy uncertainty (EPU) affects enterprises’ corporate social responsibility (CSR).

Abstract

Purpose

The purpose of this paper is to show how the external issue of economic policy uncertainty (EPU) affects enterprises’ corporate social responsibility (CSR).

Design/methodology/approach

This study investigates the relationship between EPU and CSR based on the Chinese capital market from 2010 to 2018. Following the most recent studies focused on economic policy uncertainty, this paper uses the news-based method proposed by Baker et al. (2016) to measure EPU and explore the effect of EPU on CSR, as well as the mediating role of state ownership in such a relationship.

Findings

Empirical results show that increasing EPU will restrain enterprises’ social responsibility behaviour and the inhibitory effect is more obvious for state-owned enterprises. Further analyses reveal that the inhibitory effect of EPU on CSR is stronger for enterprises that face severe financial constraints and is significant for various components of CSR, and trade policy uncertainty could also curb enterprises’ social responsibility behaviour.

Practical implications

As a stable economic environment is important for enterprises’ CSR engagement, the present study’s conclusions can help policymakers better understand the implications of policy stability for enterprises’ financial and non-financial decisions and especially their CSR decisions.

Social implications

With the increasing attention paid to the CSR of enterprises, this study provides evidence that enterprises should develop appropriate CSR strategies according to the economic policy environment and enhance their capacity to withstand the risks generated by EPU.

Originality/value

To the best of the author’s knowledge, this study is the first to analyse the relationship between EPU and CSR. The results contribute to a better understanding of what issues influence enterprises’ CSR engagement, highlighting the importance of a stable economic policy environment and of enterprises’ ability to withstand risks.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

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Article

Xianyi Long and Ting Zhang

The purpose of this paper is to investigate the influence of peers’ corporate social responsibility (CSR) on focal firms’ CSR from an integrated perspective. The current…

Abstract

Purpose

The purpose of this paper is to investigate the influence of peers’ corporate social responsibility (CSR) on focal firms’ CSR from an integrated perspective. The current study aims to explore whether as peers’ CSR increases focal firms’ CSR would first decrease and then increase.

Design/methodology/approach

This study is based on a sample consisting of Chinese listed manufacturing firms from 2010 to 2016. Hypotheses are tested by generalized least squares method to minimum heterogeneity and autocorrelation concern.

Findings

The results show that focal firms’ CSR would first decrease and then increase with the increase in peers’ CSR. Furthermore, this paper found that corporate visibility would stress more value on CSR differentiation strategy and environmental uncertainty would stress more value on CSR conformity strategy, such that the U-shaped relationship would be more pronounced in high corporate visibility or low environmental uncertainty situation.

Practical implications

The findings may be of interest to the academic researchers and managers. For researchers, it is important to understand how focal firms would practice CSR in response to peers’ CSR, especially through an integrated perspective. For managers, the results show that the best way to invest in CSR activities in response to peers’ CSR follows a U-shaped curve, and corporate visibility and environmental uncertainty are important factors to be considered to make CSR decisions.

Originality/value

This study contributes to the literature by proposing and examining a U-shaped relationship between peers’ CSR and focal firms’ CSR, which stresses the conformity and differentiation value of CSR simultaneously. Besides, to fully map the effects of peers’ CSR and focal firms’ CSR, this paper considers the moderating roles of internal and external contingencies on this non-linear relationship between the peers’ CSR and focal firms’ CSR.

Details

Chinese Management Studies, vol. 15 no. 2
Type: Research Article
ISSN: 1750-614X

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Article

Patrick Velte

This paper aims to analyze whether chief executive officer (CEO) incentives and characteristics (e.g. CEO power, CEO tenure) are linked with corporate social…

Abstract

Purpose

This paper aims to analyze whether chief executive officer (CEO) incentives and characteristics (e.g. CEO power, CEO tenure) are linked with corporate social responsibility (CSR) and vice versa.

Design/methodology/approach

Based on upper echelons theory, the author conducts a structured literature review and evaluates 84 empirical-quantitative studies on CEO and CSR variables.

Findings

While the majority of the included studies analyzed the CEO-CSR link, there are indicators for a bidirectional relationship. Moreover, prior research has focused on CEO incentives, especially compensation contracts, and on the US capital market. A major research gap relates to CEO characteristics, e.g. CEO values, education and experience.

Research limitations/implications

Heterogeneous CEO and CSR variables and endogeneity concerns lower the validity of recent studies. Future research is encouraged to implement dynamic regression models, increase CSR and CEO proxies and focus on international samples with country-specific effects.

Practical implications

As CEO activities can have a major impact on CSR activities, the author recommends firms to search for opportunities to make their CSR strategy more comprehensive by their stakeholder communication, thus providing deeper insights into their CSR performance in line with stakeholders’ interests.

Originality/value

The paper is the first literature review on the interaction between CEO and CSR so far. The author explains the main CEO and CSR variables that have been included in research, stresses the limitations of the studies and gives useful recommendations for future research, practice and regulators.

Details

Social Responsibility Journal, vol. 16 no. 8
Type: Research Article
ISSN: 1747-1117

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Book part

José-Luis Godos-Díez, Laura Cabeza-García, Almudena Martínez-Campillo and Roberto Fernández-Gago

Despite the relevance of firm size in the analysis of corporate social responsibility (CSR) engagement, there is still much to know about the specific impact of firm size…

Abstract

Despite the relevance of firm size in the analysis of corporate social responsibility (CSR) engagement, there is still much to know about the specific impact of firm size on CSR formalisation. Moreover, in order to better understand such a relation, the interaction effects of development strategies on which companies may base its growth, namely diversification and internationalisation, will be also taken into account. Specifically, this work contributes to shed light on these issues by combining theories related to external and internal drivers of CSR. Using a sample of Spanish listed firms, the results show that firm size affects positively CSR formalisation, and that this effect is stronger in the case of adopting a diversification strategy, while no evidence was found for the moderating effect of internationalisation strategy.

Details

Adapting to Environmental Challenges: New Research in Strategy and International Business
Type: Book
ISBN: 978-1-83982-477-7

Keywords

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