Corporate Social Responsibility and Risk Management

Story, Dawn; Price, Trevor

doi:10.9774/gleaf.4700.2006.su.00007

Cited by 31 publications

(21 citation statements)

References 6 publications

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“…Firms that have reacted to the market and to the needs and concerns of society have incorporated CSR into their business strategies for different reasons (Heras‐Saizarbitoria, Boiral, and Arana ; McWilliams, Siegel, and Wright ). These include to improve their reputation (Bakan ; Kuznetsov, Kuznetsova, and Warren ; Werther and Chandler ), to get a better risk management (Husted ; Jo and Na ; Orlitzky and Benjamin ; Story and Price ), and to gain a larger market share (Bakan ; Werther and Chandler ; Wang and Bansal ).…”

Section: Strategic Framework: Social Responsibility and Market Crisesmentioning

confidence: 99%

Corporate Social Responsibility as a Strategic Opportunity for Small Firms during Economic Crises

Abadía

Gallardo‐Vázquez

Hernández

2019

Journal of Small Business Management

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The aim of this study is to analyze if there is a direct causal relationship between small firms' orientation toward corporate social responsibility and their competitive success, mediated by innovation and performance. A structural equation model has been applied to a sample of 758 small Spanish firms. The results indicate that, in times of economic crisis, socially responsible strategies are a determining factor in firms' competitiveness. Pragmatic advice for practitioners derives from research results, considering that social responsibility represents an opportunity for small firms in the complex and turbulent time. The findings encourage small firms to manage operations responsibly as a guarantee of market success.

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Section: Strategic Framework: Social Responsibility and Market Crisesmentioning

confidence: 99%

Corporate Social Responsibility as a Strategic Opportunity for Small Firms during Economic Crises

Abadía

Gallardo‐Vázquez

Hernández

2019

Journal of Small Business Management

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“…In responding to various pressures, companies have developed distinct identities as corporate citizens, and CSR has emerged as a key global branding theme (Bakan, 2004;Werther and Chandler, 2005). The highly regarded organization will be the one that addresses the needs and concerns of both society and the market, and makes use of this in the corporate strategy in various ways (McWilliams et al, 2006): as a PR campaign (Frankental, 2001;Reich, 2007;Tilson and Donald, 1985), as a means of risk management (Husted, 2005;Orlitzky and Benjamin, 2001;Story and Price, 2006), and as a way of gaining the stage for market and social legitimacy (Bakan, 2004;Werther and Chandler, 2005).…”

Section: Introductionmentioning

confidence: 98%

Corporate Social Responsibility as a Dynamic Internal Organizational Process: A Case Study

2011

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This article tracks Corporate Social Responsibility (CSR) as an emergent organizational process that places the employee at its center. Predominantly, research on CSR tends to focus on external pressures and outcomes leading to a neglect of CSR as a dynamic and developing process that relies on the involvement of the employee as a major stakeholder in its co-creation and implementation. Utilizing case study data drawn from a study of a large multinational energy company, we explore how management relies on employees' interaction with CSR as the process of initiation→implementation→maturation develops. Employee involvement grows from a minor element in the CSR initiation stage to a vital contributory factor in CSR's success in the later stages of the process. The article offers new insights into a processual and interactional approach to CSR that accounts for the actions of different actors involved at each stage. Most unusually, it also recognizes the dual impact this has on broader issues concerning the management and involvement of employees through CSR actions, and gaining legitimacy in the eyes of not only external stakeholders but internal too

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“…However, auditing cannot eliminate all risks; thus, auditors use audit opinions or explanatory languages to deliver potential risks related to audited firms [13]. The finding that audit reports are used as a performance indicator of CSR activities shows their usefulness in measuring CSR effectiveness [31].…”

Section: Hypothesis Developmentmentioning

confidence: 99%

The Effect of Corporate Social Performance on Audit Hours: Moderating Role of the Emphasis of Matter Paragraphs in Audit Report

Kim

Jung

2020

Sustainability

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This study investigated the effect of corporate social performance (CSP) on audit hours and whether the emphasis of matter (EOM) paragraphs in audit report moderates the association between CSP and audit hours. Auditors input audit hours based on the judgement of audit risk related to firm and managerial characteristics. They increase audit hours when they perceive that client companies are riskier; thus, audit hours reflect auditors' perceptions of the firm. Prior studies have shown that high CSP is associated with ethical managers, leading to fewer audit hours. However, auditors' perceptions of CSP can be different depending on their knowledge about firms' potential risks. EOM paragraphs consists of risk-related factors, such as going-concern opinions or litigation and they should be considered when auditors determine that users need to check this information acquired in the auditing process. Therefore, EOM is likely to affect auditors' perceptions of CSP. This study investigates this possibility by examining whether the associations between CSP and audit hours are different in firms with and without EOM paragraphs in audit reports. Using Korean listed companies from 2011 to 2016, we found that CSP has a negative association with audit hours, suggesting that better CSP is related to ethical corporate social responsibility (CSR) in Korea, consistently with the literature. However, CSP is not related to audit hours for firms with EOM paragraphs, possibly indicating that auditors differently interpret CSP based on their knowledge gained in the auditing process. Our findings contribute to the literature by suggesting that EOM paragraphs can be used in distinguishing firms' CSR motivations and that information users should be careful in interpreting CSP.

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Corporate Social Responsibility and Risk Management

Cited by 31 publications

References 6 publications

Corporate Social Responsibility as a Strategic Opportunity for Small Firms during Economic Crises

Corporate Social Responsibility as a Strategic Opportunity for Small Firms during Economic Crises

Corporate Social Responsibility as a Dynamic Internal Organizational Process: A Case Study

The Effect of Corporate Social Performance on Audit Hours: Moderating Role of the Emphasis of Matter Paragraphs in Audit Report

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