THE ROLE OF CORPORATE SOCIAL RESPONSIBILITY IN FORMING A POSITIVE BUSINESS REPUTATION OF CORPORATIONS

2020 ◽  
Vol 1 (8) ◽  
pp. 72-79
Author(s):  
P. S. SHCHERBACHENKO ◽  
◽  
D. M. STOLBUN ◽  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Intangible Assets ◽  
Socially Responsible ◽  
Responsible Behavior ◽  
The Face ◽  
Corporate Social ◽  
The Impact

The concept of corporate social responsibility is becoming more and more widespread and developing in Russia and abroad. The principles of socially responsible behavior act as an attribute of modern corporations more often. In the current realities, corporate social responsibility becomes more and more important as an obligatory component of the strategy of corporations, catering for their business reputation. In particular, the corporations’ business reputation constituted one of the most important components of their intangible assets. The article focuses on the impact of corporations’ socially responsible policies on their business reputation, as well as on their functioning and development on the market in general in the face of constantly increasing competition. The author provides a practical review of the influence of corporate social responsibility on the level of business reputation on the example of Gazprom, Sberbank and Tele2.

Social partnership and institutionalization of corporate social responsibility as a driver of regional policy effectiveness

2021 ◽  
Vol 19 (2) ◽  
pp. 246-263
Author(s):  
Viktoriya A. DEGTEREVA ◽  
Maksim V. IVANOV ◽  
Anton A. BARABANOV
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Socially Responsible ◽  
Social Partnership ◽  
Responsible Behavior ◽  
Analysis And Synthesis ◽  
Theoretical Generalization ◽  
The Face ◽  
Corporate Social ◽  
The Impact

Subject. This article examines the problems and prospects for the development of social partnership and institutionalization of social responsibility of business at the regional level. Objectives. The article aims to identify general trends in the development of social partnership and the impact of this mechanism on increasing the social responsibility of business in a regional context. Methods. For the study, we used analysis and synthesis, logical and systems approaches, and the method of theoretical generalization. Results. The article describes the institutional relationship between social partnership and social responsibility of business, the potential of this mechanism application in regional development. It identifies problems of adapting socially responsible behavior taking into account the Russian specifics. Conclusions. Social partnership creates the necessary institutional conditions for the development of socially oriented business. The spread of the corporate social responsibility culture represents a significant competitive advantage in the face of economic transformations and crises.

scholarly journals PERAN MODERASI PERCEIVED CORPORATE SOCIAL RESPONSIBILITY DALAM PENGARUH TRUST TERHADAP LOYALITAS DAN REPURCHASE INTENTION PADA AIR MINUM DALAM KEMASAN MEREK AQUA DI SURABAYA

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Christina Esti Susanti
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Customer Loyalty ◽  
Repurchase Intention ◽  
Marketing Managers ◽  
Corporate Social ◽  
Customer Trust ◽  
The Impact

In recent business competition, marketing managers try to satisfying consumers and building stable-long term relationship between company and consumer. The relationship needs consumer’s trust to company. That is why marketing managers are interested in knowing the impact of trust, loyalty and corporate social responsibility (CSR) toward customer retention (repurchase intention) in order to develop the long term profitability of the company. The long term relationship with consumers results in profitability and also impacts of survival and company development. In other word, trust influences toward loyalty and consumer retention. In the same moment, it is not surprising that academicians and practitioner effort to understand trust, customer loyalty, repurchase intention and CSR. This research examines firstly, influence of customer trust toward customer loyalty. Secondly, the research examines influence of customer loyalty toward repurchase intention. Thirdly, the research examines the role of perceived CSR as a moderating variable on the influence customer trust toward customer loyalty. The packaged-drinking water Aqua is taken as the research context because the Aqua company have donated 10 litter clean water in East Indonesia for each of one litter consumer buying. The result of the research shows that perceived CSR play a strong and positive role of influencing trust toward loyalty. Otherwise, trust influences strongly toward loyalty and loyalty influences strong enough toward repurchase intention. The result is expected to give managerial benefit for Aqua Company and also theoretical development in marketing related to the moderation role of perceived CSR in the influence of trust toward loyalty and repurchase intention.

scholarly journals Developing corporate social responsibility in the face of the COVID-19 pandemic

2021 ◽  
Vol 11 (1) ◽  
pp. 31-42
Author(s):  
Nataliia Riabets
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Process Management ◽  
Positive Impact ◽  
Evolutionary Development ◽  
Practical Implementation ◽  
The Face ◽  
Business Entities ◽  
Corporate Social ◽  
The Impact

The paper presents the results of the study of the manifestations, trends of business social responsibility during the pandemic and gives the dominant directions of its practical implementation. The paper provides the results of the analysis of the evolutionary development of views and approaches to theoretical and conceptual understanding of corporate social responsibility. The impact of business social responsibility on the results of its activities and the quality of relationships with stakeholders is revealed. A study was also conducted on the transformation of directions and tools for the practical implementation of CSR initiatives before and during the spread of the pandemic. Potential directions for establishing a constructive conversation business structure with society, which will have a positive impact on the success and stability of the business, as well as on social development in the current environment have been identified. A study was carried out to evaluate the perception of the social responsibility by domestic business organizations and awareness of its trends, and the need for its implementation and advantages. A comparative analysis of the development of corporate social responsibility in the world and in Ukraine has been conducted. Trends and mechanisms that have a transformational impact on the formation and implementation of CSR in modern conditions of development are identified. The priority vectors of CSR programs of international business entities in the face of a pandemic are outlined. The necessity of developing a business process management model based on corporate and social responsibility tools has been formulated, taking into account the desire of business to conduct successful activities in a highly dynamic global environment.

Corporate social responsibility in the wake of COVID-19: multiple cases of social responsibility as an organizational value

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jashim Uddin Ahmed ◽  
Quazi Tafsirul Islam ◽  
Asma Ahmed ◽  
Anisur R. Faroque ◽  
Mohammad Jasim Uddin
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Online Communication ◽  
Socially Responsible ◽  
Content Type ◽  
Internal Resources ◽  
Study Approach ◽  
The Face ◽  
Corporate Social ◽  
Organizational Value

Purpose Although corporate social responsibility is a well-researched concept, very few studies have studied organizational social responsibility in the face of internal/external crises. Therefore, this paper aims to examine various firms' organizational social responses to COVID-19 as an external crisis, particularly in terms of the way organizations use their resources to address social problems and the real intention behind these, and the changing organizational drivers influencing such behaviors. Design/methodology/approach The authors explore the initiatives of seven organizations from three different industries in several countries and their actions in the wake of the COVID-19 pandemic. A case study approach was taken to collect data and reach a conclusion. A combination of interviews, online communication using semi-structured questionnaires and documentary information available in the public domain was used to collect data and analyze and triangulate the events. Findings Similar internal resources and capacities of the seven organizations resulted in similar responses as they launched proactive initiatives to prepare sanitizers. This research indicates that these organizations pursued other goals besides economic one. When society needed help, these organizations responded quickly, using and reorganizing their resources to assist communities in need. Different organizations from different sectors all behaved in a similar manner, making genuine contributions to the pandemic as each was uniquely capable of doing. These organizations also used their unique capabilities to offer their resources to local communities and governments. Originality/value During the COVID-19 pandemic, efforts by corporate entities to facilitate social reform and recovery have been seen around the globe. The findings could help in understanding the responses of organizations engaging in socially responsible behaviors to overcome external crises. This paper also identifies changing organizational values and their possible impact on society and overall industry philanthropy practices in the future.

The impact of corporate social responsibility on financial distress: evidence from developing economy

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Farooq ◽  
Amna Noor
Keyword(s):  
Corporate Social Responsibility ◽  
Financial Distress ◽  
Z Score ◽  
Socially Responsible ◽  
Content Type ◽  
Financial Firms ◽  
Responsible Behavior ◽  
Corporate Social ◽  
The Impact ◽  
Practical Implications

Purpose This study aims to explore the role of corporate social responsibility (CSR) on the likelihood of financial distress for a sample of 139 Pakistan Stock Exchange (PSX) listed firms throughout 2008–2019. Design/methodology/approach The dynamic generalized method of moments (GMM) estimator is used to examine the impact of CSR on financial distress. The investment in CSR is measured through a multidimensional financial approach which comprises the sum of the contribution made by the company in the form of charitable donation, employees’ welfare and research and development, while the Altman Z-score is used as an indicator of financial distress. The higher the Z-score, the lower will be the probability of financial distress. Findings The authors find a significant positive impact of CSR on financial distress in GMM model. This finding is consistent with the shareholder view and over-investment hypothesis of CSR as management makes an investment in CSR to get personal benefits, which resultantly leads the firm toward financial distress state. Further, this positive relationship remains present for firms having strong involvement in foreign business through exports. Research limitations/implications Like other studies, the present study is not free from limitations. First, financial firms are skipped from the sample, although literature witnesses a lot of studies highlight the financial firms’ commitment to achieving CSR goals. Second, financial distress occurs in different stages, and this study fails to establish a linkage between CSR engagement at different stages of financial distress. In the future, researchers can make valuable addition by covering these missing links in present studies. Practical implications Findings suggest several practical implications. For policymakers, they should encourage firms to adopt more socially responsible behavior as it not only prevents them from distress but also comes with better investment behavior, minimize bankruptcies and make economies more strong and stable. Second, results suggest corporate managers emphasize socially responsible behavior as its benefits are beyond the “societal benefits” as it lessens financial distress through lower cost of debt, lesser financial constraints and reduced cost of information asymmetry, and it minimizes the cost of capital. Lastly, investors make risk premium assessments related to future earnings by determining the likelihood of financial distress in the future. Originality/value The study extends the body of existing literature on CSR and the likelihood of financial distress in Pakistan, which is according to the best knowledge of the authors, not yet studied before. The results suggest that policymakers may pay special attention to the quality of CSR while predicting corporate financial distress.

scholarly journals Corporate Social Responsibility and Corruption: Implications for the Sustainable Energy Sector

2019 ◽  
Vol 11 (15) ◽  
pp. 4128 ◽  
Author(s):  
Jintao Lu ◽  
Licheng Ren ◽  
Jiayuan Qiao ◽  
Siqin Yao ◽  
Wadim Strielkowski ◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Risk Mitigation ◽  
Sustainable Energy ◽  
Energy Sector ◽  
Energy Development ◽  
Positive Contribution ◽  
Socially Responsible ◽  
Corporate Social ◽  
The Impact

This paper focuses on the concept of Corporate Social Responsibility (CSR) and its relationship with sustainability. The authors investigate the linkages between CSR and sustainability at both enterprise and country levels. The main focus of this study is the energy sector due to its importance in terms of economic, environmental, and social impacts. There are some doubts as to whether a socially responsible business meets public welfare expectations and fosters the country’s social and economic development, as well as the successful achievement of sustainable development objectives. However, it becomes apparent that the development of corporate social responsibility in the energy sector faces a plethora of challenges. Corruption is one of the most important challenges of sustainable energy development. The study analyzes the main areas of CSR policies where energy companies are expected to make a positive contribution to sustainable energy development: mitigation of environmental impact, economic and social development, and good governance. The authors argue that the corruption risks represent a very important issue that is hampering sustainable energy development, and CSR can be applied to mitigate these risks in the energy sector. In addition, government policies might be necessary to create a favorable environment for corruption risk mitigation. The study analyzes the main tools of corporate social responsibility in the energy sector and addresses the impact of CSR on the sustainability of energy sector and corruption risk mitigation. The study analyzes a corruption risk mitigation model in the energy sector and provides recommendations for strengthening corporate social responsibility and mitigating corruption risk. Our results show that CSR can play a vital role in dealing with corruption in the energy sector at the enterprise level. It becomes apparent that anti-corruption standards represent the main supporting means for achieving other CSR goals and principles. Therefore, mitigation of corruption risks should become a priority for socially responsible companies that are operating in the energy sector.

scholarly journals Corporate Social Responsibility and Financial Performance: The Moderating Role of Ownership Concentration in Turkey

2019 ◽  
Vol 11 (13) ◽  
pp. 3643 ◽  
Author(s):  
Elif Akben-Selcuk
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Ownership Concentration ◽  
Firm Financial Performance ◽  
Variable Approach ◽  
Corporate Social ◽  
The Impact ◽  
Moderating Role

The objective of this study is to investigate the impact of corporate social responsibility (CSR) engagement on firm financial performance in a developing country, Turkey, and to analyze the moderating role of ownership concentration in the CSR–financial performance relationship. The sample consists of non-financial public firms listed on the Borsa Istanbul (BIST)-100 index and covers the period between 2014 and 2018. Empirical results using an instrumental variable approach show that corporate social responsibility has a positive relationship with financial performance. Furthermore, findings indicate that this relationship is negatively moderated by ownership concentration even when endogeneity is controlled for.

scholarly journals Orchestrating Governmental Corporate Social Responsibility Interventions through Financial Markets: The Case of French Socially Responsible Investment

2020 ◽  
Vol 30 (3) ◽  
pp. 288-334 ◽  
Author(s):  
Stéphanie Giamporcaro ◽  
Jean-Pascal Gond ◽  
Niamh O’Sullivan
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Markets ◽  
Socially Responsible Investment ◽  
Socially Responsible ◽  
Role Of Government ◽  
Responsible Investment ◽  
Corporate Social ◽  
Private Actors

ABSTRACTAlthough a growing stream of research investigates the role of government in corporate social responsibility (CSR), little is known about how governmental CSR interventions interact in financial markets. This article addresses this gap through a longitudinal study of the socially responsible investment (SRI) market in France. Building on the “CSR and government” and “regulative capitalism” literatures, we identify three modes of governmental CSR intervention—regulatory steering, delegated rowing, and microsteering—and show how they interact through the two mechanisms of layering (the accumulation of interventions) and catalyzing (the alignment of interventions). Our findings: 1) challenge the notion that, in the neoliberal order, governments are confined to steering market actors—leading and guiding their behavior—while private actors are in charge of rowing—providing products and services; 2) show how governmental CSR interventions interact and are orchestrated; and 3) provide evidence that governments can mobilize financial markets to promote CSR.

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