Assessment of corporate social responsibility and its impacts on corporate reputation of companies in selected Balkan Countries former Yugoslavia States
Abstract
The empirical study was conducted in the three selected Balkan Countries from former Yugoslavia: Slovenia, Croatia and Montenegro through totally 270 experts’ surveys, 90 questionnaires were distributed to entrepreneurs (30), policy makers (30) and experts from academia (30) in each country in order to assess the CSR level in the country and the effect the main drivers having on CSR level, then followed by the assessment of CSR impacts on Corporate Reputation (CR). The model of multivariate regression was developed for assessment of the impact of the four independent variables (Institutional Environment, Executive Characteristics, Customers’ Expectations and Political Factors) on dependent variable–CSR. The study also analysed the impact of CSR (dependent variable) on CR. The obtained results show that countries with the higher level of CSR, have achieved the greater level of CR. The degree of the impact of the main drivers on CSR in selected Balkan countries is linked to EU accession level. The political factor has the highest impact on CSR level in all investigated countries, institutional environment is the next.
Keyword : Corporate Social Responsibility, Corporate Reputation, Institutional Environment, drivers, Balkan Countries
How to Cite
Lu, J. ., Ren, L. ., Zhang, C. ., Qiao, J. ., Kovacova, M. ., & Streimikis, J. . (2020). Assessment of corporate social responsibility and its impacts on corporate reputation of companies in selected Balkan Countries former Yugoslavia States. Technological and Economic Development of Economy, 26(2), 504-524. https://doi.org/10.3846/tede.2020.12069
This work is licensed under a Creative Commons Attribution 4.0 International License.
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Draskovic, V., & Lojpur, A. (2013). The importance of the institutional framework in regulating corporate social responsibility. Montenegrin Journal of Economics, 9(2), 39–46.
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Garriga, E., & Melé, D. (2004). Corporate social responsibility theories: Mapping the territory. Journal of Business Ethics, 53(1–2), 51–71. https://doi.org/10.1023/B:BUSI.0000039399.90587.34
Hafenbradl, S., & Waeger, D. (2016). Ideology and the microfoundations of CSR: Why executives believe in the business case for CSR and how this affects their CSR engagements. Academy of Management Journal, 60(4), 1582–1606. https://doi.org/10.5465/amj.2014.0691
Higgins, K. T. (2002). Marketing with a conscience. Marketing Management, 11(4), 12–15.
Hillenbrand, C., & Money, K. (2007). Corporate responsibility and corporate reputation: Two separate concepts or two sides of the same coin? Corporate Reputation Review, 10(4), 261–277. https://doi.org/10.1057/palgrave.crr.1550057
Huang, H., & Zhao, Zh. (2016). The influence of political connection on corporate social responsibility – evidence from Listed private companies in China. International Journal of Corporate Social Responsibility, 1(1), 1–19. https://doi.org/10.1186/s40991-016-0007-3
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Iamandi, I.-E., & Constantin, L.-G. (2012). Quantifying corporate social responsibility involvement in art and culture projects in Romania and Bulgaria. Procedia Economics and Finance, 3, 1122–1127. https://doi.org/10.1016/S2212-5671(12)00284-5
Ioannou, I., & Serafeim, G. (2012). What drives corporate social performance? The role of nation-level institutions. Journal of International Business Studies, 43(9), 834–864. https://doi.org/10.1057/jibs.2012.26
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