scholarly journals Corporate Responses to COVID-19: A Nonmarket Strategy Approach

2021 ◽  
pp. 073112142110175
Author(s):  
Yongjun Zhang
Keyword(s):  
Political Ideology ◽  
Corporate Philanthropy ◽  
Political Activities ◽  
Nonmarket Strategy ◽  
Public Firms ◽  
Nonmarket Strategies ◽  
Organizational Crises ◽  
Corporate Elites ◽  
Pay Cuts ◽  
Corporate Social

The COVID-19 pandemic has been an unprecedented threat to the survival of U.S. firms. Prior studies show that firms use market strategies such as layoffs and pay cuts to cope with organizational crises. Little is known about how firms engage in corporate social responsibility (CSR) and corporate political activities (CPA) during crises. This study focuses on how America’s largest publicly traded firms use these two nonmarket strategies to cope with the COVID-19 pandemic. Results suggest that public firms actively engaged in both CSR and CPA after the outbreak. The preliminary estimation shows that firms listed in Russell 1000 have donated or pledged over $3.9 billion to corporate philanthropy and invested over 2.1 billion in observed political donations and lobbying in Congress in the early pandemic. The marked variation in corporate nonmarket strategies could be partially attributed to corporate elites’ political ideology, political accountability, and perceived COVID-19 risk.

CSR@ 2%: A NEW MODEL OF CORPORATE SOCIAL RESPONSIBILITY IN INDIA

2018 ◽  
Vol 1 (3) ◽  
pp. 56-66
Author(s):  
Anupam Singh ◽  
Dr. Priyanka Verma
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Philanthropy ◽  
Social Issues ◽  
Business Community ◽  
Net Worth ◽  
The Social ◽  
Net Profit ◽  
Corporate Social ◽  
Indian Scenario

Corporate Social Responsibility (CSR) earlier applied as corporate philanthropy and has been in practice in India since ages. However, philanthropy in globalised and modern India does not solve the purpose in quantity and quality. Clause 135 of Company Act 2013 created huge hue and cry among the business community in India. As per clause 135 of the Companies Act, 2013, Every company with an annual turnover of 1,000 crore INR ($161 million) and more, or a net worth of 500 crore INR ($80 million) and more, or a net profit as low as five crore INR ($800,000) and more have to spend at least 2% of their average net profit over the previous three years on CSR activities. With the introduction of new Company act 2013 India became the first country in the world to have legislation for compulsory CSR spending. The paper aims at analyzing the motive of making CSR spending mandatory and it also attempts to explain the concept of CSR in the present Indian scenario, the social issues addressed by the Indian corporations, and methodologies adopted by them to address those issues.

scholarly journals Corporate Social Responsibility (CSR) of Innovative Pharmaceutical Corporations. The Case of BIOGEN

2018 ◽  
Vol 21 (3) ◽  
pp. 45-62 ◽  
Author(s):  
Janina Witkowska
Keyword(s):  
Corporate Social Responsibility ◽  
Pharmaceutical Industry ◽  
Social Responsibility ◽  
Corporate Philanthropy ◽  
Developed Countries ◽  
Orphan Drugs ◽  
Pharmaceutical Firms ◽  
Life Saving ◽  
Corporate Social

The aim of this paper is to discuss the common features and specificity of Corporate Social Responsibility (CSR) practices of innovative transnational corporations (TNCs) acting in the pharmaceutical industry. The innovativeness of pharmaceutical firms is understood here as their ability to make a breakthrough in the treatment of rare, incurable diseases. The examination of the issue leads to the conclusion that the specificity of CSR in this industry is related to the contradiction between the economic and social/ethical aspects of innovation processes in this field. A key issue of CSR in the innovative pharmaceutical industry seems to be the pricing of drugs, especially orphan and ultra‑orphan drugs, resulting in patients from less developed countries having limited access to life‑saving medicines or those that improve the quality of life. Corporations use their monopolistic position to set extremely high prices. However, without the market/marketing exclusivity offered to pharmaceutical firms by the law, orphan drugs would probably not be developed, produced and commercialized. Traditional CSR practices (corporate philanthropy, community and neighborhood programs, volunteerism etc.) cannot be treated as sufficient ‘compensation’ for the high prices of medicines. Real, true CSR in the innovative pharmaceutical industry requires either abandoning or reducing extreme monopolistic privileges and offering medicines for rare diseases at lower prices.

scholarly journals IMPLEMENTASI CORPORATE SOCIAL RESPONSIBILITY PT KAI DAOP 8 SURABAYA DALAM PROGRAM RAIL CLINIC

2020 ◽  
Vol 3 (2) ◽  
pp. 194-209
Author(s):  
Sulistyo Rahayu Ningrum ◽  
Fitria Widiyani Roosinda
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Marketing ◽  
Corporate Philanthropy ◽  
Cause Related Marketing ◽  
Corporate Social Marketing ◽  
Corporate Social ◽  
Clinic Program

PT Kereta Api Indonesia (Persero) Daop 8 Surabaya melaksanakan tanggung jawab sosial terhadap lingkungan sekitarnya dalam bentuk Program Rail Clinic. Program ini merupakan implementasi corporate social responsibility perusahaan untuk  mensejahterakan masyarakatnya. Program yang didedikasikan untuk masyarakat ini dalam bentuk layanan kereta kesehatan, memberikan bantuan kepada masyarakat di araea rel kereta yang jauh dari akses kesehatan. Penelitian menggunakan  pendekatan kualitatif. Hasil penelitian mengungkapkan Program Rail Clinic dalam CSR PT KAI Daop 8 Surabaya menghasilkan beberapa aktivitas utama yang dijalankan yakni cause promotion, cause related marketing, corporate social marketing, corporate philanthropy, community valunteering dan socialy responsible bussines practice. Aktivitas Program Rail Clinic berhasil membantu masyarakat dari aspek pelayanan kesehatan Kata Kunci: Rail Clinic,CSR, PT KAI Daop 8 Surabaya

scholarly journals OPINI MASYARAKAT TERHADAP KEGIATAN CORPORATE SOCIAL RESPONSIBILITY PT PABRIK GULA CANDI BARU

2016 ◽  
Vol 4 (1) ◽  
pp. 31
Author(s):  
Panca Wardhana ◽  
Ainur Rochmaniah
Keyword(s):  
Corporate Social Responsibility ◽  
Public Opinion ◽  
Social Responsibility ◽  
Corporate Philanthropy ◽  
Sampling Technique ◽  
Literature Study ◽  
Sugar Factory ◽  
The People ◽  
Corporate Social Marketing ◽  
Corporate Social

The purpose of this study was to determine public opinion towards corporate social responsibility Candi Baru sugar factory. This research used descriptive quantitative method, from a population of 367 householders, while a sample of 79 respondents. The sampling technique used proportional sampling techniques and random sampling. Collecting data used literature study, questionnaires and interviews. Analyzing data used descriptive statistics. The result study stated that, Candi Baru sugar factory has conducted two types of corporate social responsibility, namely corporate social marketing and corporate philanthropy. Public opinion towards corporate social responsibility Candi Baru sugar factory has been well overall, but there were still negative opinion of the people. It caused by multiple factors, the distribution of the assistance provided was uneven, the shape and the amount of assistance provided is considered incompatible with pollution and losses caused by the activity of production companies, as well as their distrust of the objectivity of the company in selecting the target activity.

scholarly journals Who Is the Beneficiary of Slack on Corporate Financial Performance and Corporate Philanthropy? Evidence from South Korea

2019 ◽  
Vol 11 (1) ◽  
pp. 252 ◽  
Author(s):  
Seungwha (Andy) Chung ◽  
Hyunsang Pyo ◽  
Andres Guiral
Keyword(s):  
Financial Performance ◽  
Corporate Philanthropy ◽  
Corporate Social Performance ◽  
Positive Impact ◽  
Social Performance ◽  
Corporate Financial Performance ◽  
Stakeholder Relations ◽  
Stakeholder Groups ◽  
Corporate Giving ◽  
Corporate Social

As stakeholder relations vary depending on firm characteristics, the associations among corporate financial performance (CFP), corporate giving, and corporate social performance (CSP) are complex. In this paper, we contribute to the literature by exploring CFP as a predictor of CSP by differentiating the stakeholder groups that firms interact with; that is, primary versus secondary stakeholder relations. Our study also extends the existing literature by examining who the beneficiaries of corporate philanthropy are, and the role played on the CFP/CSP association. By extracting a sample of 52 firms and 312 firm-year observations from the Korea Economic Justice Institute database, we find that while CFP has a positive effect only on primary stakeholder relations, corporate philanthropy has a positive impact on both primary and secondary stakeholder relations. Furthermore, we observe an overall influence of CFP on stakeholder relations when corporate philanthropy is high. Our findings suggest that differentiating multiple stakeholder groups together with the role played by corporate philanthropy provides a more valuable and meaningful analysis of the antecedents of CSP.

Cause-Related Marketing: A Coalignment of Marketing Strategy and Corporate Philanthropy

1988 ◽  
Vol 52 (3) ◽  
pp. 58-74 ◽  
Author(s):  
P. Rajan Varadarajan ◽  
Anil Menon
Keyword(s):  
Public Relations ◽  
Nonprofit Organizations ◽  
Corporate Philanthropy ◽  
Fund Raising ◽  
For Profit ◽  
Cause Related Marketing ◽  
Not For Profit ◽  
Marketing Tool ◽  
Corporate Social ◽  
Effective Use

Cause-related marketing represents the confluence of perspectives from several specialized areas of inquiry such as marketing for nonprofit organizations, the promotion mix, corporate philanthropy, corporate social responsibility, fund-raising management, and public relations. The authors outline the concept of cause-related marketing, its characteristics, and how organizations, both for-profit and not-for-profit, can benefit from effective use of this promising marketing tool.

A Qualified Account of Supererogation: Toward a Better Conceptualization of Corporate Social Responsibility

2020 ◽  
Vol 30 (2) ◽  
pp. 250-272 ◽  
Author(s):  
Antonio Tencati ◽  
Nicola Misani ◽  
Sandro Castaldo
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Philanthropy ◽  
Active Role ◽  
Business Case ◽  
Moral Obligations ◽  
Business Interests ◽  
Creating Shared Value ◽  
Business In Society ◽  
Corporate Social

ABSTRACTSome firms are initiating pro-stakeholder activities and policies that transcend conventional corporate social responsibility (CSR) conceptions and seem inconsistent with their business interests or economic responsibilities. These initiatives, which are neither legally nor morally obligatory, are responding to calls for a more active role of business in society and for a broader interpretation of CSR. In fact, they benefit stakeholders in a superior and an innovative way and are difficult to reconcile with commonly used rationales in the extant CSR literature, such as win-win opportunities, creating shared value, or corporate philanthropy. For better insight, we develop a qualified account of the concept of supererogation from ethical theory. This account, which examines voluntary responses to moral obligations from which a business is normally excused, is applied to identify the unique features of the initiatives that are not readily understood within conventional reasoning, which is generally focused on a business case.

The effect of CEO civic engagement on corporate social and environmental performance

2019 ◽  
Vol 15 (8) ◽  
pp. 1054-1070 ◽  
Author(s):  
Wonsuk Cha ◽  
Michael Abebe ◽  
Hazel Dadanlar
Keyword(s):  
Civic Engagement ◽  
Environmental Performance ◽  
Corporate Philanthropy ◽  
Corporate Social Performance ◽  
Firm Level ◽  
Content Type ◽  
Environmental Engagement ◽  
Social And Environmental Performance ◽  
Corporate Social ◽  
Personal Engagement

Purpose The purpose of this paper is to explore the relationship between a chief executive officer (CEO)’s personal engagement in broader societal causes (CEO civic engagement) and firm’s social and environmental performance. Design/methodology/approach A theoretical framework was developed based on upper echelons and stakeholder theories to argue that CEOs’ professional background characteristics can be closely related to firm-level social and environmental performance. Hierarchical OLS analysis was conducted using data from 178 large, publicly traded large US firms between 2010 and 2013. Findings Overall, the findings suggest that firms led by CEOs with active civic engagement are more likely to support various philanthropic efforts. Additionally, the findings suggest that firms led by civic-minded CEOs are more likely to support an active corporate environmental engagement by investing significant resources in various environmental causes. Contrary to the authors’ predictions, the level of CEO civic engagement was not a significant predictor of firm level community engagement activities. Research limitations/implications The findings extend current scholarly work on executive determinants of corporate social performance by highlighting the important role of CEOs’ personal engagement beyond studying CEOs’ demographic characteristics. Specifically, the findings that the CEO-civic engagements lead to higher degrees of corporate philanthropy and environmental performance show that CEOs’ civic engagement can go beyond what is considered symbolic executive actions. Practical implications The findings suggest that firms that seek to foster social and environmental performance in a meaningful way should recruit and retain CEOs that have a personal commitment to and engagement in various social and environmental issues and causes. Originality/value By empirically examining the effect of CEO civic engagement on corporate philanthropy, community involvement and environmental performance, this paper seeks to contribute to the scholarly conversation on the effects of CEOs in shaping the firm’s social and environmental engagement and addressing external stakeholder concerns.

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