Responsible leadership and business sustainability: Exploring the role of corporate social responsibility and managerial discretion

Abstract

In today's world, businesses are involved in several different initiatives to gain sustainable performance, which can discourse the expectations and demands of society. Emerging economics faces numerous challenges in terms of social, relational, governance, and financial, which made it necessary for firms to perform responsibly in order to make positive contributions toward sustainability. Therefore, this study based on upper-echelon theory constructs a comprehensive framework on responsible leadership, corporate social responsibility, and managerial discretion to provide the guideline for business sustainability. To fulfill the study purpose, an empirical analysis was performed on 382 Pakistani respondents' data by using PLS-SEM through SmartPLS. Outcomes of the study indicated that responsible leadership entails enormous importance in corporations to influence their impact on society, environment, and economy, which leads to business sustainability. Moreover, the study provides insights into that more responsible and experienced leaders are better able to identify the concerns of their firm's stakeholders in the manners of relational, governing, and orientational perspectives, which help them in satisfying the stakeholders' and society's

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“…The foundation of this assertion derives theoretical backing from established theories of organizational behavior and leadership, Amir et al (2022), Kalshoven and Taylor (2018), Azhar et al (2023), Den Hartog (2015, Bakhshandeh et al (2023).…”

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Microentrepreneurs as Socially Responsible Leaders

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