Corporate social responsibility in a competitive business environment

Carol Newman; John Rand; Finn Tarp; Neda Trifkovic

Corporate social responsibility in a competitive business environment

Carol Newman, John Rand, Finn Tarp, Neda Trifkovic

Abstract

Using a specially designed survey instrument in combination with a representative sample of Vietnamese enterprises, we explore firm-level efficiency effects of corporate social responsibility. We find a positive relationship between adoption of corporate social responsibility initiatives and firm efficiency, and reveal that the impact is stronger for firms in non-competitive industries. Moreover, we show that local community focused corporate social responsibility initiatives drive the aggregate effect. This suggests that socially responsible actions by firms are likely to pay-off when stakeholder engagement has a localized focus. We provide evidence of reciprocity by showing that employees accept a lower share of additionally generated value added in exchange for working in a company that signals ‘good’ corporate values.

Originalsprog	Engelsk
Udgivelsessted	Helsinki, Finland
Udgiver	UNU-WIDER
Antal sider	24
ISBN (Trykt)	978-92-9256-050-8
Status	Udgivet - 2016

Navn	UNU WIDER Working Paper Series
Nummer	7

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AU - Newman, Carol

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AU - Tarp, Finn

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N2 - Using a specially designed survey instrument in combination with a representative sample of Vietnamese enterprises, we explore firm-level efficiency effects of corporate social responsibility. We find a positive relationship between adoption of corporate social responsibility initiatives and firm efficiency, and reveal that the impact is stronger for firms in non-competitive industries. Moreover, we show that local community focused corporate social responsibility initiatives drive the aggregate effect. This suggests that socially responsible actions by firms are likely to pay-off when stakeholder engagement has a localized focus. We provide evidence of reciprocity by showing that employees accept a lower share of additionally generated value added in exchange for working in a company that signals ‘good’ corporate values.

AB - Using a specially designed survey instrument in combination with a representative sample of Vietnamese enterprises, we explore firm-level efficiency effects of corporate social responsibility. We find a positive relationship between adoption of corporate social responsibility initiatives and firm efficiency, and reveal that the impact is stronger for firms in non-competitive industries. Moreover, we show that local community focused corporate social responsibility initiatives drive the aggregate effect. This suggests that socially responsible actions by firms are likely to pay-off when stakeholder engagement has a localized focus. We provide evidence of reciprocity by showing that employees accept a lower share of additionally generated value added in exchange for working in a company that signals ‘good’ corporate values.

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Corporate social responsibility in a competitive business environment

Abstract

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