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Corporate social responsibility factors, environment and corporate sustainability: Specific overview of India and China

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Conceptual Background of CSR
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Submitted   Dec 2, 2021
Published   Dec 25, 2021
Issue    Vol 3 No 1 (2022)
DOI   10.25082/FMB.2022.01.001

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Peter Yao Lartey corresponding author
School of Finance and Economics, Jiangsu University, Zhenjiang 212013, Jiangsu Province, China
Junguo Shi
1. Institute of Industrial Economics, Jiangsu University, Zhenjiang 212012, China; 2. School of Finance and Economics, Jiangsu University, Zhenjiang 212012, China
Santosh Rupa Jaladi
Prin. L.N Welingkar Institute of Management Development & Research, Bangalore 560100, India
Stephen Owusu Afriyie
IT Business, Ghana Communication Technology University, PMB 100, Accra North, Ghana

Abstract

Corporate social responsibility represents the relationship between business and society. The significant benefits of being socially and environmentally responsible are the focus of this paper. This review emphasized the business oriented notion of Corporate Social Responsibility, where the idea is captured to justify existing arguments supportive of community and environmental programs. The review attempted to clarify major research questions: (1) why do businesses engage in society initiatives; (2) what inspires the decisions to support the society – a specific comparison highlighted between China and India. The study featured various CSR and sustainability regulations currently in force in different countries. In order to achieve the aim of the study, the review begun with overview of CSR based on well-established definitions and subsequently discussed the two major perspectives; the free market theory and CSR theory. This gave a clears explanation of why some businesses invest their resources to benefit the society while others are profit seeking. Finally, the paper sought to establish the integration of CSR with corporate sustainability. The findings suggest that, contemporary CSR programs are largely influenced by regulations and legal provisions across the world. And ideally, a firm’s CSR performance is influenced by internal and external factors which are captured in stakeholder theory and institutional theory. The findings, validate the ascension that the integration of CSR with corporate sustainability (CS) could produce a coherent platform to advance environmental sustainability.

Keywords
corporate social responsibility, sustainability, stakeholder theory

Article Details

How to Cite
Lartey, P., Shi, J., Jaladi, S., & Afriyie, S. (2021). Corporate social responsibility factors, environment and corporate sustainability: Specific overview of India and China. Frontiers in Management and Business, 3(1), 126-148. https://doi.org/10.25082/FMB.2022.01.001
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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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