Search results

Throughout years of corporate social responsibility (CSR) debates, most studies have focused on whether or not a firm should engage in CSR activities, while giving little attention to the firm’s engagement strategy. The purpose of this paper is to demonstrate the optimal way of engaging in CSR activities to maximize firm value while acting in a socially responsible manner.

The sample includes US-listed firms and was initially split into three categories (slow-paced, steady-paced and fast-paced firms) based on how fast the firm increased/decreased the pace of its CSR involvement. The sample was later split into firms that have interlocked directors and those that do not, to highlight the important role played by interlocked directors in moderating the relationship between CSR pace and firm performance.

Results suggest that firms engaging in CSR activities at a slow or steady pace experience superior financial returns than firms engaging in CSR activities at a fast pace. Further analysis indicates that rapid CSR involvement is counterproductive for firms with no interlocked directors. On the other hand, firms with interlocked directors benefit from their directors’ social network, and experience positive returns when engaging in CSR activities at a fast pace.

This study is of particular importance for firms establishing their CSR engagement strategies. The results highlight the optimal way a firm can engage in CSR activities while still maximizing shareholder wealth.

This paper is the first to study the pace determinants of a firm’s CSR engagement strategy. The absence/presence of interlocked directors is identified as a key moderating variable for the CSR–firm performance relationship. The study pinpoints the absence of interlocked directors as a constraint for firms that rapidly engage in CSR activities.

Over the last several decades, businesses have faced mounting pressures from diverse stakeholders to alter their corporate operations to become more socially and environmentally responsible. In turn, many firms appear to have responded by implementing more sustainable practices — measuring, documenting, and publishing annual CSR or sustainability reports to showcase how they are addressing important issues in this area, including: resource stewardship, waste management, greenhouse gas emission reductions, fair and safe labor practices, amongst other stakeholder concerns. And yet, research in this domain has not yet systematically examined whether businesses have, on the whole, changed their practices in tandem with the important changes in its institutional context over time. Have corporate CSR initiatives, in fact, been growing over the last 25 years or has the increased attention to CSR actually been much ado about nothing? In this chapter, we review the empirical literature on CSR to uncover that common measures of CSR such as the KLD do not support the concept that CSR practices have increased substantively over the last 25 years. We supplement this historical review by modeling the growth curves of CSR implementation in practice and find that the pace of positive change has indeed been glacial. More alarmingly, we also look at corporate social irresponsibility (CSiR) and find that, contrary to expectations, businesses have become more, not less, irresponsible during this same time period. Implications of these findings for theory are presented as are suggestions for future research in this domain.

This paper is prepared from the perspective of civil society and under the context of true democracy, where civil society directly participates in the public matter on a permanent basis, so that the public and private interests are reconciled and governments are made to truly work for all ranks of society and not for the owners of capital. The very concept of social responsibility is currently at the threshold dividing its future between remaining a corporate tool used by corporations to look good, without really doing the public good, or becoming a valuable instrument of civil society to make business become socially and environmentally responsible, in such a way that generates a meaningful net contribution to the sustainability of the planet. The social responsibility of business and what it should be remains very much in debate (White, 2005). For the overwhelming majority of business entities and governments, it is a voluntary option and not a legal or even a moral obligation. This has been the unrelenting position of business, which has been enthusiastically endorsed by governments, where most elected officials in high‐power positions have been the direct beneficiaries of great amounts of corporate money for their political campaigns. For civil society, in contrast, the social responsibility of business is an instrument to make corporations behave responsibly according to the standards defined by civil society at large, through due democratic process, and not according to standards conveniently selected by business (de Regil, 2005:17). In Iberian America, the most unequal region in the world, the need to make both domestic and global corporations practice a social and environmentally‐sustainable economic activity is far more urgent than elsewhere. In this region, a neocolonial business culture pervasively remains entrenched. Since the abandonment, in the 1980s, of endogenous social and economic development, aimed at developing a growing domestic market through aggregate demand to gradually include more people into the middle social strata, the region has returned, in many aspects, to times reminiscent of late Nineteen Century ‐ with the imposition of neoliberal economics globalisation ‐ when many people worked under conditions of slavery. As has been unfolding in many parts of the world, including the G7 countries, Iberian America is today back into an era reminiscent of the robber barons of the Gilded Age. Yet it has occurred in a far more pervasive and vicious way, as a result of a far more intolerant, racist and plutocratic mentality of the upper class, which has systematically jeopardised the development of a true democratic ethos. In this way, civil society in the region has begun to use and develop some CSR concepts in attempting to put in check the activity of business. However, the outright abandonment of Iberian American governments of their most basic and preeminent democratic responsibility ‐ to procure the welfare of every rank of society, especially the disposed ‐ is so extreme, that the concept of CSR may be too little and too late to do any good.

The purpose of this paper is to determine the corporate social responsibility (CSR) disclosure level of 35 international banks across the world at the end of 2013 and analyse the changes in their disclosure patterns compared to 2005 from the institutional perspective.

Content analysis of international banks’ web-sites and CSR reports.

As expected, CSR disclosure scores of international banks in 2013 were significantly larger than in 2005. Despite addressing the legitimacy gap after the 2008 crisis, significant room for improvements remained in the context of sustainable products, implementation of environmental management policies and introduction of CSR initiatives (the latter especially for Northern American banks). Although the transnational context had contributed to the gradual convergence of CSR disclosure scores, the existence of differing national and organisational contexts had maintained some of the diversity across banks.

Content analysis approach used limits the possibilities to objectively grasp the depth of CSR and the sample remains biased towards larger international banks headquartered in Europe.

Stakeholders should remain vary of “window-dressing” attempts and reward only those banks that actually contribute to the society.

Intergovernmental organisations should continue to develop both new and already existing financial sector CSR initiatives to improve the stability of the global financial sector.

Previous studies have not investigated international banks’ CSR disclosures on broader global samples during the post-2008-crisis period and have not considered the institutional context of their CSR.

Ample literature is available on the impact of socio-cultural and political conditions on corporate social responsibility (CSR), but the reverse has not been adequately studied. COVID-19 pandemic disrupted humankind and business, but CSR was resilient. COVID-19, an unprecedented crisis, developed into a disaster but had some positives too. In fact, it championed the businesses' role and relationships between businesses and regulators, society, stakeholders, environment at large. Some available literature analyses how CSR metamorphosised itself and disrupted and converged into all similar and associated phenomenon like philanthropy, charity, governance, sustainability, and as a regular business activity. The present research uses mixed methods to analyse the CSR data published by the government of India during COVID-19 years and refer to the firms' disclosures in the CSR reports. Findings offer a nuanced input to the understanding of the impact of COVID-19 on CSR by studying it in a regulated environment where firms emerged as responsible corporate citizens attending to the needs of all the stakeholders. Firms acts of responsibility transcended law and contributed in form of funds (PM relief funds) and other necessary health equipment like PPE kits, oxygen cylinders, masks, sanitizers, vaccines, etc. Interestingly, the government amended the law to include contributions to COVID-19 mitigation as a part of CSR. While the current study is based on a data from a limited time, it lays a ground for future studies analysing the nature of shift (short term or long term) and how changes have impacted the policies (public and organisational policies).

In the course of worldwide COVID-19, the phenomenon of corporate social responsibility (CSR) gained more importance and publicity. Many organizations made a significant contribution in dealing with the crisis situation and even increased their spending on the welfare activities. This study aims to evaluate the attitude of community, especially young generation, towards the CSR undertaken by the organization during the pandemic period.

Descriptive research design has been employed using purposive sampling for data collection through a structured questionnaire. A sample of 550 was taken, and pilot survey was conducted among 100 respondents before administering it at full scale. A model has been proposed and tested by using structural equation modelling in AMOS.

The results of the study show that compulsory provisions of CSR have enhanced the trust of community and made the organizations more responsive towards philanthropic, legal, ethical and economic responsibility. The respondents were found to be aware about the welfare activities carried out by the organizations and developed a positive attitude towards them.

First, the study is limited to examining the attitude of community towards CSR, especially young generation. Second, it is difficult to say whether outcomes of this study can be generalized for such other potential global crisis. Third, the study is based on the Carroll’s “CSR Pyramid” framework when other such frameworks and approaches could be available to analyse the impact of COVID-19-related CSR initiatives. Last, this study has been conducted only in the state of Maharashtra, and results may not be applicable to other states as well other countries.

The findings of the study may help the organizations to plan their activities in line with the amendments made time to time. This shall also help the regulating agencies to monitor and catch the wrongdoers and take appropriate action. Findings of such studies, based on public opinion, can also help the governments to make further amendments, time to time, in related acts. It can also be said that with the involvement of public/society, more transparency can be brought in the functioning of the organizations, especially in the context of CSR.

Earlier, most of the organizations were falsely recording the CSR expenditure in their balance sheets without actually spending it, but the amendment in act has made it compulsory for the organizations to follow it honestly. The pandemic period gave an opportunity to the society to evaluate the organizations on these parameters and to make their opinion about them in real time. Therefore, it is concluded that pandemic has created awareness in the society and significantly influenced their attitude about CSR activities. This shall also help the organizations feel a pressure in future while planning and implementing the activities under CSR.

The results of the study show contribution of the corporate towards social welfare during pandemic. The results would help the policymakers to monitor the execution of practices more closely and organizations to execute their strategies in a more effective manner.

The Guiding Principles on Civil Service Reform were endorsed by the Special Programme of Assistance for Africa (SPA) as a tool for better co‐ordination of donor support. Because of the range of administrative problems, and the economic and political urgency of solving them, African governments need a strategic framework for civil service reform. This should be based on a vision of the role of the state, and take into account leadership, commitment, governance, economic reforms, sequencing, ministerial restructuring, decentralisation, downsizing, pay and incentives, capacity building, service delivery, aid mechanisms, and change management processes. Because of the enormity and political sensitivity of the task, and the severe limitations on capacity to manage reform, such a framework will take 10‐20 years to implement fully in most countries. Civil service reform is an art, not a science. Committed reformers within the concerned government know best what they need, and how to get there. The role of donors should be mainly facilitation: identifying committed reformers (or potentially committed ones), and then empowering them to design and carry out needed changes.

This paper aims to examine the multiplicity of corporate social responsibility (CSR) standards, explaining its nature, dynamics and implications for multinational enterprises (MNEs) and international business (IB), especially in the context of CSR and global value chain (GVC) governance.

This paper leverages insights from the literature in political science, policy, regulation, governance and IB; from the own earlier work; and from an inventory of CSR standards across a range of sectors and products.

This analysis’ more nuanced approach to CSR standard multiplicity helps distinguish the different categories of standards; uncovers the existence of different types of standard multiplicity; and highlights complex trends in their evolution over time, discussing implications for the various firms targeted by, or involved in, these initiatives, and for CSR and GVC governance research.

This paper opens many avenues for future research on CSR multiplicity and its consequences; on lead firms governing GVCs from an IB perspective; and on institutional and market complexity.

By providing overviews and classifications, this paper helps clarify CSR standards as “new regulators” and “instruments” for actors in business, society and government.

This paper contributes by filling gaps in different existing literatures concerning standard multiplicity. It also specifically adds a new perspective to the IB literature, which thus far has not fully incorporated the complexity and dynamics of CSR standard multiplicity in examining GVCs and MNE strategy and policy.

This paper investigated how perception of organization's social responsibility influenced employees' organizational commitment (OC). Besides, the moderation effect of importance of ethics and social responsibility (ICSR) has been investigated on the relationship.

Responses from 142 business professionals working in Iran have been investigated. Exploratory factor analysis, reliability assessment and regression were applied to analyze the data.

This research indicated that corporate social responsibility (CSR) positively influenced OC of employees. However, no moderation effect was observed in this study.

This study provided support for Turker's model in a different setting and added to the body of knowledge in this area by investigating Iranian context which has been rarely discussed in the literature.

The findings of this research confirmed that employees show higher commitment when working in socially responsible organization. It also showed that all the four categories of CSR examined in this study (CSR to social and non‐social stakeholders, CSR to employees, CSR to customers, and CSR to government) significantly affect OC.

The findings of this research confirmed that employees show higher commitment when working in socially responsible organization. It also showed that all the four categories of CSR examined in this study (CSR to social and non‐social stakeholders, CSR to employees, CSR to customers, and CSR to government) significantly affect OC.

Given that most of previous studies on CSR‐OC relationship are conducted in Western and European settings, this study provides insights from a culturally different context by examining the relationship in a developing country where CSR is still at its infancy levels. The paper also provides empirical support for a recently proposed CSR model and validates it in a different setting.