The Monetary Value of Corporate Social Responsibility: The Impact of Tea Trees Growing Project between Corporates and Taiwan’s Aboriginal Farmers on Consumers

Abstract

The first hypothesis of this study is to dissect the factors that impact consumers’ preference toward a specific corporate social responsibility (CSR) project via the framework of the theory of planned behaviour (TPB). The second hypothesis is to evaluate a monetary value for CSR among consumers through their WTP. The willingness to pay (WTP) in relation to those influential factors is used to represent the monetary value of CSR for the tea tree growing project implemented by corporates among indigenous tribal farmers in Taiwan. The components of CSR covered in this study are product safety, economic security for contractual farmers, the protection of the environment, and the conservation of ecology. Such efforts encompass the economic, legal, ethical, and philanthropic responsibilities of CSR. The corresponding highest and lowest monetary values of CSR per hectare of tea trees are USD 92,232 and USD 141,762, respectively. The overall average monetary value of CSR per hectare is USD 118,035. These values represent the specific amounts that a corporation can potentially contribute to society when it contracts tea production to aboriginal farmers.

Corporate Social Responsibility and Cooperatives Business Sustainability in Indonesia: Legal Perspective

“…The next strategy, besides encouraging the implementation of CSR by LLCs and SOEs in the form of community development, is also needed to encourage cooperatives to perform social and environmental responsibility, better known as CoopSR. The social responsibility practices have been performed by every type of company and in many ways [49], including by cooperatives. The term CoopSR was first introduced by Develtere [50] and Harris [51] in 2005.…”

Consumers' willingness to pay for corporate social responsibility: Theory and evidence

“…Humans are inherently influenced by a variety of contextual elements, and different attributes and features offered in a good (Al Jarah & Emeagwali, 2017; Lissner & Mayer, 2020). WTP demonstrates how much a consumer is prepared to forego in order to obtain the bundle of characteristics that a product or service provides, and it is thus an outcome that allows to measure the worth of CSR for consumers in the market (Lee et al, 2022). Becchetti et al (2020) found that socially, environmentally and legally responsible products have a significant positive effect on consumers' WTP.…”