Determinants of Managerial Values on Corporate Social Responsibility: Evidence from China

This paper empirically investigates how Chinese executives and managers perceive and interpret corporate social responsibility (CSR), to what extent firms’ productive characteristics influence managers’ attitudes towards their CSR rating, and whether their values in favour of CSR are positively correlated to firms’ economic performance. Although a large proportion of respondents express a favourable view of CSR and a willingness to participate in socially responsible activities, we find that the true nature of their assertion is linked to entrepreneurs’ instincts of gaining economic benefits. It is the poorly-performing firms, or rather, firms with vulnerable indicators – smaller in size, State-owned, producing traditional goods and located in poorer regions that are more likely to have managers who opt for a higher CSR rating. Managers’ personal characteristics per se are not significant in determining their CSR choice. Moreover, controlling for other observed variables, we find that managers’ CSR orientation is positively correlated with their firms’ performance. The better-off a firm is, the more likely its manager is to get involve in CSR activities. Firms with better economic performance before their restructuring would sustain higher post-restructuring performance.corporate social responsibility, profit maximisation, China

Determinants of Managerial Values on Corporate Social Responsibility: Evidence from China

This paper empirically investigates how Chinese executives and managers perceive and interpret corporate social responsibility (CSR), to what extent firms’ productive characteristics influence managers’ attitudes towards their CSR rating, and whether their values in favour of CSR are positively correlated to firms’ economic performance. Although a large proportion of respondents express a favourable view of CSR and a willingness to participate in socially responsible activities, we find that the true nature of their assertion is linked to entrepreneurs’ instincts of gaining economic benefits. It is the poorly-performing firms, or rather, firms with vulnerable indicators – smaller in size, State-owned, producing traditional goods and located in poorer regions that are more likely to have managers who opt for a higher CSR rating. Managers’ personal characteristics per se are not significant in determining their CSR choice. Moreover, controlling for other observed variables, we find that managers’ CSR orientation is positively correlated with their firms’ performance. The better-off a firm is, the more likely its manager is to get involve in CSR activities. Firms with better economic performance before their restructuring would sustain higher post-restructuring performance.profit maximisation, corporate social responsibility, China

Socially responsible restructuring and firm's performance: evidence from Chinese enterprises

This study empirically explores the phenomena of corporate social responsibility (CSR), corporate restructuring and their relationships with firm's performance in the context of economic reform in China from three main perspectives: the study begins with investigating how Chinese managers perceive CSR, to what extent, managers' attitudes influence their behaviours in restructuring, whether those who are more in faviour of CSR may engage in more socially responsible restructuring; then the study examines the relationship between socially responsible restructuring and firm's financial performance, and the study also analyzes a case study of enterprise restructuring in China defence industy. The three perpectives covered by the study are logically interrelated. It is assumed that by understanding an individual's attitudes toward something, we can predict the individual's overall pattern of response to the object, therefore, an assessment of a manager's attitude toward CSR may provide an indication of the manager's predisposition to respond in a particular way to CSR. Thus, different attitudes toward CSR (in faviour of or against) may result in the different actions (socially responsible or socially irresponsible), and different behaviours may lead to various firm's performance. By analyzing the case study, we can have comprehensive and deep insight into the CSR issues, and have a fuller understanding of the process of socially responsible restructuring in China. The result of the study provides more evidence for the theories about relationship between CSR and firm's performance. The result suggests that there be a positive relationship between attitude and behaviour with regard to CSR, socially responsible value-oriented managers pay more attention to social issues in restructuring. The result also shows that there is a positive association between CSR and financial performance, more social responsibility leads to better financial performance, and financial performance drives socially responsible performance in restructuring. The result further reveals that after restructuring, firms didn't significantly improve profitability as expected by government and management

Socially responsible restructuring and firm's performance: evidence from Chinese enterprises

This study empirically explores the phenomena of corporate social responsibility (CSR), corporate restructuring and their relationships with firm's performance in the context of economic reform in China from three main perspectives: the study begins with investigating how Chinese managers perceive CSR, to what extent, managers' attitudes influence their behaviours in restructuring, whether those who are more in faviour of CSR may engage in more socially responsible restructuring; then the study examines the relationship between socially responsible restructuring and firm's financial performance, and the study also analyzes a case study of enterprise restructuring in China defence industy. The three perpectives covered by the study are logically interrelated. It is assumed that by understanding an individual's attitudes toward something, we can predict the individual's overall pattern of response to the object, therefore, an assessment of a manager's attitude toward CSR may provide an indication of the manager's predisposition to respond in a particular way to CSR. Thus, different attitudes toward CSR (in faviour of or against) may result in the different actions (socially responsible or socially irresponsible), and different behaviours may lead to various firm's performance. By analyzing the case study, we can have comprehensive and deep insight into the CSR issues, and have a fuller understanding of the process of socially responsible restructuring in China. The result of the study provides more evidence for the theories about relationship between CSR and firm's performance. The result suggests that there be a positive relationship between attitude and behaviour with regard to CSR, socially responsible value-oriented managers pay more attention to social issues in restructuring. The result also shows that there is a positive association between CSR and financial performance, more social responsibility leads to better financial performance, and financial performance drives socially responsible performance in restructuring. The result further reveals that after restructuring, firms didn't significantly improve profitability as expected by government and management

Determinants of Managerial Values on Corporate Social Responsibility: Evidence from China

This paper empirically investigates how Chinese executives and managers perceive and interpret corporate social responsibility (CSR), to what extent firms’ productive characteristics influence managers’ attitudes towards their CSR rating, and whether their values in favour of CSR are positively correlated to firms’ economic performance. Although a large proportion of respondents express a favourable view of CSR and a willingness to participate in socially responsible activities, we find that the true nature of their assertion is linked to entrepreneurs’ instincts of gaining economic benefits. It is the poorly-performing firms, or rather, firms with vulnerable indicators – smaller in size, State-owned, producing traditional goods and located in poorer regions that are more likely to have managers who opt for a higher CSR rating. Managers’ personal characteristics per se are not significant in determining their CSR choice. Moreover, controlling for other observed variables, we find that managers’ CSR orientation is positively correlated with their firms’ performance. The better-off a firm is, the more likely its manager is to get involve in CSR activities. Firms with better economic performance before their restructuring would sustain higher post-restructuring performance

Purpose-driven leadership for sustainable business: From the Perspective of Taoism

Abstract In recent years, the topic of “purpose” has been actively studied and discussed by the academic scholars and business practitioners. The purpose revolution has significantly changed the way companies are doing business today. There is a growing consensus among leaders today that business exists not to make money, but to make the world a better place to live in. Companies have been increasingly demanded by stakeholders to do more than to provide good products, good services, good prospects, and good profits, but to do something meaningful to employees, customers, environment and society. As early as 2500 years ago, Laozi, an ancient Chinese philosopher, the founder of philosophical Taoism, discovered the role of the Tao or the purpose in life and universe. Wisdom of Taoism has inspired and guided people with precepts of compassion, harmony, cooperation, integrity, humility and prudence. Taoism’s thought as the master virtue allows individuals, organizations, and society to cultivate purpose for a sustainable life, and directs leaders to pursue a basic blueprint of not only doing good, but also being good. The purpose of this paper is to blend classical Taoism’s wisdom with modern management science to guide leaders to build a responsible and sustainable organization. The paper discussed the relationship between CSR, sustainability and the emerging concept of purpose from philosophical, business and Taoism’s perspectives. The author walked readers through the key text of Tao Te Ching to analyze five core principles of Taoism: self-awareness for mindful leadership, self-cultivation for authentic leadership, leading with humility for Level 5 leadership, transcending ego for servant leadership, and doing the right things right for sustainable leadership. The core principles of Taoism shall serve as the foundation for those who want to develop purpose-driven organizations

Socially responsible restructuring and firm's performance : evidence from Chinese enterprises

This study empirically explores the phenomena of corporate social responsibility (CSR), corporate restructuring and their relationships with firm's performance in the context of economic reform in China from three main perspectives: the study begins with investigating how Chinese managers perceive CSR, to what extent, managers' attitudes influence their behaviours in restructuring, whether those who are more in faviour of CSR may engage in more socially responsible restructuring; then the study examines the relationship between socially responsible restructuring and firm's financial performance, and the study also analyzes a case study of enterprise restructuring in China defence industy. The three perpectives covered by the study are logically interrelated. It is assumed that by understanding an individual's attitudes toward something, we can predict the individual's overall pattern of response to the object, therefore, an assessment of a manager's attitude toward CSR may provide an indication of the manager's predisposition to respond in a particular way to CSR. Thus, different attitudes toward CSR (in faviour of or against) may result in the different actions (socially responsible or socially irresponsible), and different behaviours may lead to various firm's performance. By analyzing the case study, we can have comprehensive and deep insight into the CSR issues, and have a fuller understanding of the process of socially responsible restructuring in China. The result of the study provides more evidence for the theories about relationship between CSR and firm's performance. The result suggests that there be a positive relationship between attitude and behaviour with regard to CSR, socially responsible value-oriented managers pay more attention to social issues in restructuring. The result also shows that there is a positive association between CSR and financial performance, more social responsibility leads to better financial performance, and financial performance drives socially responsible performance in restructuring. The result further reveals that after restructuring, firms didn't significantly improve profitability as expected by government and management.EThOS - Electronic Theses Online ServiceGBUnited Kingdo