Corporate Social Responsibility and its Relationship with Increasing Company Value

KANG, Sun-Kyung (Graduate School of Theology, Social Welfare Department, Sogang University)
JUNG, Ha-Yong (Graduate School of Theology, Department of Social Welfare, Sogang University)

KANG, Sun-Kyung, & JUNG, Ha-Yong. (2022). Corporate Social Responsibility and its Relationship with Increasing Company Value. The Journal of Industrial Distribution & Business(JIDB), 13(10), 23-30, https://doi.org/https://doi.org/10.13106/jidb.2022.vol13.no10.23

복사

Abstract

Purpose: The advantages of corporate social responsibility (CSR) include stronger recognition and reputation, which lead to a company's good public image, increased customer loyalty, operational cost saving, and employee retention. The purpose of the present research is to take a close look at the association between CSR and organization's value. Research design, data and methodology: The authors tried to obtain the high-quality textual data from mostly peer-reviewed journals using a PRISMA ((Preferred Reporting Items for Systematic Reviews and Meta-Analyses). The authors was to figure out adequate solutions from limited range of the current literature (only peer-reviewed research) regarding CSR and corporate value. Results: Our investigation indicates that CSR is essential to all businesses as it ensures they keep in touch with society, retaining top personnel, and achieving top financial success. Companies and organizations can engage in four corporate social responsibility initiatives to increase value, including environmental projects, charitable work, honest labor practices, and volunteer activity. Conclusions: An organizations should be involved in the community and consider how its actions affect the environment and society. Small or large businesses are expected to lead in developing a progressive CSR program that benefits people and the environment and continuously changes depending on the social and economic environment.

keywords: Corporate social responsibility (CSR), Company Value, Community Welfare Impact

참고문헌

Abu Zayyad, H. M., Obeidat, Z. M., Alshurideh, M. T., Abuhashesh, M., Maqableh, M., & Masa’deh, R. E. (2021). Corporate social responsibility and patronage intentions: The mediating effect of brand credibility. Journal of Marketing Communications, 27(5), 510-533.

Aksoy, L., Banda, S., Harmeling, C., Keiningham, T. L., & Pansari, A. (2022). Marketing’s role in multi-stakeholder engagement. International Journal of Research in Marketing, 39(2), 445-461.

Ali, BJ, & Anwar, G.(2021). Corporate Social Responsibility: The Influence of Employee Engagement on Corporate Social Responsibility. Journal of Humanities and Education Development, 3(3), 77-83.

Barauskaite, G., & Streimikiene, D. (2021). Corporate social responsibility and financial performance of companies: The puzzle of concepts, definitions and assessment methods. Corporate Social Responsibility and Environmental Management, 28(1), 278-287.

Beji, R., Yousfi, O., Loukil, N., & Omri, A. (2021). Board diversity and corporate social responsibility: Empirical evidence from France. Journal of Business Ethics, 173(1), 133-155.

Borges, M. L., Anholon, R., Cooper Ordoñez, R. E., Quelhas, O. L. G., Santa-Eulalia, L. A., & Leal Filho, W. (2018). Corporate Social Responsibility (CSR) practices developed by Brazilian companies: an exploratory study. International Journal of Sustainable Development & World Ecology, 25(6), 509-517.

Bretos, I., Díaz-Foncea, M., & Marcuello, C. (2020). International expansion of social enterprises as a catalyst for scaling up social impact across borders. Sustainability, 12(8), 3262.

Carroll, A. B. (2021). Corporate social responsibility: Perspectives on the CSR construct’s development and future. Business &Society, 60(6), 1258-1278.

Carroll, A. B., & Brown, J. A. (2018). Corporate social responsibility: A review of current concepts, research, and issues. Corporate social responsibility, 360(2), 39-69.

10.

Chaudhary, R. (2017). Corporate social responsibility and employee engagement: can CSR help in redressing the engagement gap? Social Responsibility Journal, 13(2), 323-338.

11.

Dai, R., Liang, H., & Ng, L. (2021). Socially responsible corporate customers. Journal of Financial Economics, 142(2), 598-626.

12.

Elalfy, A., Palaschuk, N., El-Bassiouny, D., Wilson, J., & Weber,O. (2020). Scoping the evolution of corporate social responsibility (CSR) research in the sustainable development goals (SDGs) era. Sustainability, 12(14), 5544.

13.

Ferramosca, S., & Verona, R. (2020). Framing the evolution of corporate social responsibility as a discipline (1973–2018): A large‐scale scientometric analysis. Corporate Social Responsibility and Environmental Management, 27(1), 178-203.

14.

Fuadah, L. L., & Kalsum, U. (2021). The impact of corporate social responsibility on firm value: The role of tax aggressiveness in Indonesia. The Journal of Asian Finance, Economics and Business, 8(3), 209-216.

15.

Gao, W., Wang, L., Yan, J., Wu, Y., & Musse, S. Y. (2021). Fostering workplace innovation through CSR and authentic leadership: evidence from SME sector. Sustainability, 13(10), 5388.

16.

Hur, W. M., Moon, T. W., & Ko, S. H. (2018). How employees’perceptions of CSR increase employee creativity: Mediating mechanisms of compassion at work and intrinsic motivation. Journal of Business Ethics, 153(3), 629-644.

17.

Islam, T., Islam, R., Pitafi, A. H., Xiaobei, L., Rehmani, M., Irfan, M., & Mubarak, M. S. (2021). The impact of corporate social responsibility on customer loyalty: The mediating role of corporate reputation, customer satisfaction, and trust. Sustainable Production and Consumption, 25(January), 123-135.

18.

Jamali, D., & Karam, C. (2018). Corporate social responsibility in developing countries as an emerging field of study. International journal of management reviews, 20(1), 32-61.

19.

Kalsum, U. (2021). Factors Affecting the Disclosure of Corporate Social Responsibility. International Journal of Business Economics, 2(2), 113-120.

20.

Kang, E. (2021). Qualitative content approach: Impact of organizational climate on employee capability. East Asian Journal of Business Economics, 9(4), 57-67.

21.

Kang, E., & Hwang, H. J. (2018). Strategic management plan for transnational organizations. The Journal of Asian Finance, Economics and Business, 5(2), 119-128.

22.

Khan, A., Latif, F., Jalal, W., Anjum, R., & Rizwan, M. (2014). The impact of rewards & corporate social responsibility (CSR) on employee motivation. International journal of human resource Studies, 4(3), 70-86.

23.

Kim, C. H., & Scullion, H. (2013). The effect of Corporate Social Responsibility (CSR) on employee motivation: A cross-national study. Poznan university of economics review, 13(2), 5-30.

24.

Kim, J. H., & Kang, E. (2022). The Role of Wearable Devices for the Success of the Healthcare Business: Verification from PRISMA Approach. Journal of Economics Marketing, and Management, 10(4), 13-24.

25.

Lacap, J. P. G., Cham, T. H., & Lim, X. J. (2021). The Influence of Corporate Social Responsibility on Brand Loyalty and The Mediating Effects of Brand Satisfaction and Perceived Quality. International Journal of Economics & Management, 15(1), 69-87.

26.

Macassa, G., McGrath, C., Tomaselli, G., & Buttigieg, S. C. (2021). Corporate social responsibility and internal stakeholders’health and well-being in Europe: a systematic descriptive review. Health Promotion International, 36(3), 866-883.

27.

Matten, D., & Moon, J. (2020). Reflections on the 2018 decade award: The meaning and dynamics of corporate social responsibility. Academy of Management Review, 45(1), 7-28.

28.

May, A. Y. C., Hao, G. S., & Carter, S. (2021). Intertwining corporate social responsibility, employee green behavior, and environmental sustainability: the mediation effect of organizational trust and organizational identity. Economics, Management and Financial Markets, 16(2), 32-61.

29.

Nantharath, P., Laochankham, S., Kamnuasilpa, P., & Kang, E.(2020). Fiscal decentralization and economic growth in Thailand: A cross-region analysis. International Journal of Financial Research, 11(1), 147-156.

30.

Nguyen, L. T., Nantharath, P., & Kang, E. (2022). The Sustainable Care Model for an Ageing Population in Vietnam: Evidence from a Systematic Review. Sustainability, 14(5), 2518.

31.

Okafor, A., Adeleye, B. N., & Adusei, M. (2021). Corporate social responsibility and financial performance: Evidence from US tech firms. Journal of Cleaner Production, 292(April), 126078.

32.

Qiu, S. C., Jiang, J., Liu, X., Chen, M. H., & Yuan, X. (2021). Can corporate social responsibility protect firm value during the COVID-19 pandemic?. International Journal of Hospitality Management, 93(February), 102759.

33.

Raza, A., Farrukh, M., Iqbal, M. K., Farhan, M., & Wu, Y. (2021). Corporate social responsibility and employees' voluntary pro‐environmental behavior: The role of organizational pride and employee engagement. Corporate Social Responsibility and Environmental Management, 28(3), 1104-1116

34.

Seong, D. H. (2021). Sports Leadership Theories for Improving Retail Service Quality on Customer Value. Journal of Distribution Science, 19(5), 13-21.

35.

Shah, M. S., Wu, C., & Ullah, Z. (2021). The inter-relationship between CSR, inclusive leadership and employee creativity: a case of the banking sector. Sustainability, 13(16), 9158.

36.

Soundararajan, V., Jamali, D., & Spence, L. J. (2018). Small business social responsibility: A critical multilevel review, synthesis and research agenda. International Journal of Management Reviews, 20(4), 934-956.

37.

Suh, J. (2021). Literature Content Analysis: Formulating Different Marketing Plan between Wholesalers and Retailers Supervision System. Journal of Distribution Science, 19(8), 91-100.

38.

Sung, I. (2021). Corporate Patent Management and its Relationship with Creating Commercial Value. East Asian Journal of Business Economics, 9(3), 101-112.

39.

Topić, M., Bridge, G., & Tench, R. (2020). Mirroring the zeitgeist:an analysis of CSR policies in the UK’s food, soft drink and packaging industries. Journal of Global Responsibility, 12(1), 62-75.

40.

Úbeda-García, M., Claver-Cortés, E., Marco-Lajara, B., &Zaragoza-Sáez, P. (2021). Corporate social responsibility and firm performance in the hotel industry. The mediating role of green human resource management and environmental outcomes. Journal of Business Research, 123(February), 57-69.

41.

Uduji, J. I., & Okolo-Obasi, E. N. (2020). Does corporate social responsibility initiative restrain young people from irregular migration in sub-Saharan Africa? Evidence from Nigeria’s oil-producing communities. Social Responsibility Journal, 17(7), 914-936.

42.

Uduji, J. I., Okolo-Obasi, E. N., Onodugo, V. A., Nnabuko, J. O.,& Adedibu, B. A. (2021). Corporate social responsibility and the role of rural women in strengthening agriculture-tourism linkages in Nigeria's oil-producing communities. Journal of Tourism and Cultural Change, 19(6), 754-780.

43.

Woo, E. J., & Kang, E. (2020). Environmental issues as an indispensable aspect of sustainable leadership. Sustainability, 12(17), 7014.

44.

Yang, Y., Lau, A. K., Lee, P. K., & Cheng, T. C. E. (2020). The performance implication of corporate social responsibility in matched Chinese small and medium-sized buyers and suppliers. International Journal of Production Economics, 230(December), 107796

바로가기메뉴

논문 상세

Vol.13 No.10

Corporate Social Responsibility and its Relationship with Increasing Company Value

Corporate Social Responsibility and its Relationship with Increasing Company Value

Abstract

참고문헌

The Journal of Industrial Distribution & Business(JIDB)