Corporate Social Responsibility: A Review of Literature and an Empirical Study (original) (raw)
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Corporate social responsibility (CSR) is gaining more and more importance day by day. CSR is not only drawing the corporate magnates into its circumference, but is also luring educationists, social activists, reformists, from all over the world to delve deeper into it. Changing market scenario, globalization, ethical consumerism all are adding heat to the CSR concept. More and more organizations are showing their commitments towards CSR either for enhancing their corporate image or to be in competition. Emergence of different marketing innovations demands direct linkage of corporate social responsibility practices with the business corporate strategies. The present article reviews the CSR literature from 1975 to 2011, conveying changing developments of CSR practices.
Components, Theories and the Business Case for Corporate Social Responsibility
International Journal of Business and Management Review, 2020
Though the relationship between business and society has been widely studied for decades, there are varying perspectives in the literature of a corporation's responsibility to society, and many corporate managers have struggled with the issue of a corporation's responsibility to a broader range of stakeholders beyond its shareholders. Contemporary advocates of corporate social responsibility (CSR) argue that business organizations have a responsibility not only to their respective shareholders but also to other stakeholders, such as, employees, customers' suppliers, and the community in general, among others. However, a conservative view of corporate social responsibility (CSR) suggests that the only true purpose of a corporation is to generate maximum profits and promote the interests of its shareholders within the law by responding effectively to market demand through the production of goods or services. Though there is no singular universally accepted definition of CSR in the literature, in this descriptive and theoretical research paper, I synthesize the literature and identify many different forms of definitions of CSR from the point of view of various researchers. In this paper, I also attempt to further the theoretical debate about corporate social responsibility (CSR) by highlighting the main components and theories of CSR in the literature. Thereafter, I articulate the business case for CSR or the justification why business executives may be motivated to allocate resources to engage in CSR activities. I conclude this paper by outlining its contributions.
Corporate Social Responsibility (CSR): An Emerging Opportunity or a Forced Liability
International Journal of Advance & Innovative Research, 2019
A significant number of studies have been conducted on Corporate Social Responsibility (CSR) and its impact on different business organizations. However, no such study has been witnessed so far that could explain the nature of the amount involved in the CSR spending. The main purpose of the study is to analyze the viewpoint of different organizations that how they consider this CSR spending. In a current scenario, organizations have failed to take responsibility for what they are operating, so it is needed to consider the real cost of their functioning which brings a focus toward the environmental and social concerns. On the other hand, CSR also became legitimate spending stipulated in the Indian companies act, 2013. According to the act, every business organization is a responsible player to build an equitable society and for that CSR should be a part of the DNA of every organization. Through this paper, we made an attempt to see the nature of CSR adopted by different organizations, whether it is voluntary or mandatory. We reviewed some survey reports made on CSR before and after the Indian companies act, 2013. These reports provide a perspective on CSR perceptions of different business organizations. For empirical analysis, we have analyzed 100 listed companies’ financial reports to know whether CSR mandate impact their performance or not. Using a difference-in-difference approach, we found that before the legitimation of CSR the performance found to be better than post CSR legislation. This paper is also an attempt to present a conceptual analysis of the CSR spending before and after its legitimation in India which will help us to determine whether it should be treated as an investment opportunity or a forced liability.
Corporate Social Responsibility: A Call For Multidisciplinary Inquiry
Journal of Business & Economics Research (JBER), 2011
Corporate Social Responsibility (CSR) is one of the most important and pressing issues confronting business executives these days. Despite widespread attention, there is little agreement about what constitutes CSR, or why companies should pursue social objectives, or what effects this has on firm performance. We trace the evolution of the CSR concept in various business disciplines and synopsize interrelated constructs and themes. The picture that emerges suggests a multidimensional construct worthy of multidisciplinary attention.
Corporate Social Responsibility (CSR): A Literature Review
This paper amis to give an overview on the topic and impact of the corporate social responsibility on employee's attitudes and behaviours (CSR), it can be noticed that different scholars still continue to look at the concept of CSR from different perspectives. In 1970, Milton Friedman was the first scholar who wrote an article regarding the responsibilities of corporations. After that academicians started to look at the concept of CSR in more details, and made a move from the general debates discussing about the legitimacy of CSR to other perspectives to get deeper understanding about the concept of CSR. But, most of the researches that have been conducted with regard to CSR were mainly focused on macro perspective with their great emphasis on the relationship between CSR initiatives and financial performance.
Literature Review on Corporate Social Responsibility
Corporate social responsibility (CSR) has aroused increasing interests from academic field and corporations. While pursuing profits, corporations should also fulfill social responsibilities to advance social well-being, which can in turn contribute to the success of business. The purpose of this study is to systematically assort definitions on CSR, sort out dimensions of CSR used in empirical studies, and analyze studies on outcomes of CSR based on foreign and domestic literature. Limitations of existing studies are discussed and future research directions are suggested.
Corporate Social Responsibility: Theory, Practice and Its Impact on The Company
Jurnal Akuntansi Keuangan dan Bisnis, 2021
This paper aims to provide a comprehensive discourse on Corporate Social Responsibility from the theory, components, and impacts on a company and its stakeholders. The research method is conceptual paper. The paper is developed through identifying issues about CSR from existing literature, discussing related theories, analyzing the relationships between GCG and CSR, and explaining stakeholder interactions in CSR practices. The findings of this research indicated that not only do CSR practices have a positive impact on the environment and society, but also affect the survival and sustainable development of the company. In addition, CSR practices are closely related to the implementation of GCG and interactions between stakeholders. Analysis of the theory and literature in this study is carried out comprehensively so that it provides a complete picture of CSR practices.
Corporate Social Responsibility: Perspectives on the CSR Construct's Development and Future
BUSINESS AND SOCIETY, 2021
This perspectives article seeks to comment and reflect on my 1999 BAS article titled "Corporate Social Responsibility: Evolution of a Definitional Construct," and subsequent writings addressing these same topics. First, perspectives on the 1950-1999 period are offered. Second, reflections on the 2000-2020 period are presented. Finally, thoughts about the future and the new normal for CSR are set forth. Hopefully, the observations presented will stimulate further thinking on this important concept. And, it will be interesting to all of us to see where the dust settles when the pandemic ends and organizations have had a chance to re-imagine or reset their missions, goals, and processes with respect to CSR.
The International Journal of Business and Management, 2020
Introduction Globally, corporate social responsibility (CSR) is an evolving concept and complex, without a clear and agreed-on definition, meaning different things to different culture or people (Chikwe, 2012). It encapsulates a whole broad area, involving corporate commitments, ethical conducts, legal considerations, socioeconomic imperatives, philanthropic gestures, operational environment imperatives and the likes. However, CSR describes a set of corporate obligations and practices somewhere in the spectrum between traditional charitable giving and meeting up socioeconomic demands and environmental sustainability on one hand, and merely strict compliance with laws on the other. CSR as a management concept is also variously viewed as a concept that covers a wide variety of business and environmental issues relating to plant location and technicalities, employee relations, socioeconomic concerns, human rights, ethics, corporate-community relations and environment (Enahoro, Akiuyemi and Olutoye, 2013). CSR can also be described as the variety of interactive issues revolving around business organization and society or community environment where the corporations operate. Relatedly, Surdyk (2006) succinctly expressed that, while the CSR operating definition remain elusive, the term CSR generally refers to a company's efforts to explicitly include social and environmental concerns in its decision-making along with a commitment to increasing the organization's positive impact on society. As similarly posited, CSR enhances the building of social welfare beyond profitability, as well as developing loyalty and corporate reputation, and at the end serves as a building block for competitive advantage (Arvidson, 2010; Ormiston and Wong, 2013). The mindset of classical CSR revolves around Milton Friedman's conception and theory that what corporation owe society is only efficient economic responsibility, while governments owe the social ends (Arvidson, 2010; Freedman and Dmytriyev, 2017). In relation to our present CSR study direction, a theory can be viewed as an explanation of some phenomena (e.g., corporate social responsibility imperatives), and it consists of principles that state relationships observed in association with that phenomenon (Blaylock, 1971; Hodge, Anthony and Gales, 1998). A theory is a way of thinking, perceiving and analyzing organizations' phenomena. Theory belongs to the family of words that include, guess, speculation, supposition, conjecture, proposition, hypothesis, conception, explanation and model (Weick, 2005, in Smith and Hitt, 2005). A theory in general guides and provides knowledge base and understanding of the basic relationships derivable from various knowledge-based disciplines. In brief, theory guides practices. Theory emanates from a Greek word, theoria,which means, viewing or contemplating. Theory deals with a contemplative body of ideas; a sort of rational kind of abstract, generalizing