Corporate Social Responsibility and Sustainability: From a Corporate Governance Perspective

Abstract

Sustainable corporate development has become essential for many enterprises in the context of economic globalization and fierce technological competition. In fact, it is being tackled at a strategic level by most companies. The fulfillment of corporate social responsibility (CSR) is significant in building a corporate image, improving brand competitiveness, and promoting sustainable corporate development. Simultaneously, the level of corporate governance is a crucial factor in an enterprise’s long-term development. Therefore, this study clarifies whether CSR has a positive impact on the sustainable development of enterprises through empirical analysis; it also analyzes the effects of internal governance factors on the relationship between the two, from the perspective of corporate governance. A fixed-effects regression analysis was conducted on a sample of Chinese A-share listed companies from 2015 to 2019. According to the results, active CSR can promote sustainable development. Furthermore, corporate governance factors such as internal control, management capabilities, and accounting information quality have a moderating role in the CSR process on sustainable corporate development. This study provides a theoretical basis for future research on CSR and sustainable development, and its findings can inspire governments and enterprises from the perspective of corporate governance.

Impact of Socially Responsible Business Behavior on Implementing the Principles of Sustainable Development (Experience of Large Business)

“…The area of responsibility that business representatives voluntarily assume should simultaneously cover three directions: inside the company, i.e., to protect their own personnel; the immediate environment of the company, i.e., customers and the population living in the territory where the enterprise is located; outside the company, i.e., to restore any sphere of human life within the country and abroad [34]. Within the context of the components of a socially responsible business (Table 2), scholars [35] prove the expediency of limiting the corporate social responsibility of a business entity to the interests of its customers and employees.…”

Methodology of Corporate Social Responsibility Analysis of the Enterprises

“…There is an in-depth study on the relationship between CSR and corporate sustainable development ability, revealing the mechanism of CSR affecting corporate sustainable development ability and demonstrating the moderating role of internal control, management capabilities, and accounting information quality in the impact of CSR on corporate sustainable development ability from the perspective of internal corporate governance [4]. Loss of trust investors, customers and other interested parties may be destructive for the long-term sustainability of companies; therefore the importance of proper control and management of this intangible asset is undeniable [5, p. 109].…”

The CSR Strategy via Corporate Shared Value: A Case Study of The Body Shop Reusable Packaging

“…With the current state of economic globalization and fierce technical rivalry, many companies now place a high priority on sustainable business development. Through diverse business and social actions, corporations have a responsibility to safeguard and improve society's current and future well-being, as well as to assure equitable and long-lasting benefits for a variety of stakeholders [14].…”