CORPORATE SOCIAL RESPONSIBILITY: FINANCIAL PERFORMANCE AND ORGANIZATIONS INITIATIVE TO ADDRESS THE WELFARE OF SOCIETIES IN GLOBAL COUNTRIES
DOI:
https://doi.org/10.46827/ejefr.v0i0.76Palabras clave:
corporate social responsibility, society, financial performance, Kenya, populationResumen
The objectives of corporations conducting business entail making profit and or making a difference. Corporations contribute billions of dollars towards corporate social responsibility (CSR) each year in the name of addressing the welfare of the society. The assumption that if companies are successful and exhibit increasing financial performance they have an obligation to care for the society does exist in some regions. This paper explores the understanding of CSR and examines if the population in Kenya expects corporations to take initiative in addressing the welfare of their society. The results substantiate that CSR initiatives from corporations conducting business in Kenya are unexpected by the local population. The findings confirmed that the population sought for assistance from some organizations that included American National Red Cross, UNICEF, World Vision, and World Hunger.
JEL: M14, L25, P42
Article visualizations:
Referencias
Aguilera, R. V., Rupp, D. E., Williams, C. A., & Ganapathi, J. (2007). Putting the S back in corporate social responsibility: A multilevel theory of social change in organizations. Academy of management review, 32(3), 836-863. Retrieved from amr.aom.org
Branco, M. C., & Rodrigues, L. L. (2006). Corporate social responsibility and resource-based perspectives. Journal of Business Ethics, 69(2), 111-132. Retrieved from doi:10.1007/sl0551-006-9071-z
Holme, R., & Watts, P. (1999). Corporate social responsibility. Geneva: World Business Council for Sustainable Development. Retrieved from www.unrisd.org
Khandkar, A. N. (2014). Mandatory corporate social responsibility (CSR) spending in India to impact corporate profits. Retrieved from http://www.breakingcall.com
Leonard, D., & McAdam, R. (2003). Corporate social responsibility. Quality progress, 36(10), 27-33. Retrieved from www.asq.org
Lindgreen, A., & Swaen, V. (2010). Corporate social responsibility. International Journal of Management Reviews, 12(1), 1-7. Retrieved from onlinelibrary.wiley.com
McWilliams, A., & Siegel, D. (2001). Corporate social responsibility: A theory of the firm perspective. Academy of management review, 26(1), 117-127. doi:10.5465/AMR.2001.4011987
Muthuri, J. N., & Gilbert, V. (2011). An institutional analysis of corporate social responsibility in Kenya. Journal of Business Ethics, 98(3), 467-483. doi: 10.1007/s10551-010-0588-9
Ponnu, C. H., & Okoth, M. O. (2009). Corporate social responsibility disclosure in Kenya: The Nairobi stock exchange. African Journal of Business Management, 3(10), 601-608. doi:10.5897/AJBM09.118
Smith, A. (2014). Fortune 500, October 12, 2014: Fortune 500 companies spend more than $15bn on corporate social responsibility. Retrieved from http://www.ft.com
Waagstein, P. R. (2011). The mandatory corporate social responsibility in indonesia: Problems and implications. Journal of Business Ethics, 98(3), 455-466. doi:10.1007/s10551-010-0587-x
