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How To Deal With Corporate Social Responsibility In Financial Crisis

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  • Ciprian-Dumitru Stoian

Abstract

The aim of the paper is to examine the effects of periods of financial crisis on Corporate Social Responsibility (CSR) practices. This paper represents a theoretical research related to the latest developments in this field. We had documented our paper based on actual references on this matter. Firstly, in order to make correct assessments, this material seeks to examine the level of understanding in respect of two jointly concepts: CSR and financial crisis, as well as the resulted impact (on different stakeholders). We have also presented and commented on a new model that prescribes the reactions of CSR practices against the crisis and on different researches that have tried to quantify the link between the CSR and financial crisis. The result of our research granted us various opinions on attitude that companies should undertake in financial crisis: to cancel the CSR actions, to freeze the CSR actions or to be involved more in CSR actions. Based on our expertise, we assume and recommend that CSR efforts in financial crisis to be continued due to the fact that would mainly bring positive results for involved companies in mid and long-term basis.

Suggested Citation

  • Ciprian-Dumitru Stoian, 2013. "How To Deal With Corporate Social Responsibility In Financial Crisis," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 1-27.
    • Handle: RePEc:alu:journl:v:1:y:2013:i:15:p:27
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    References listed on IDEAS

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    1. Dra. Belén Fernández-Feijóo Souto, 2009. "Crisis and Corporate Social Responsibility: Threat or Opportunity?," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 2(1), pages 36-50, June.
    2. Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
    3. Adriana SCHIOPOIU BURLEA & Carmen RADU & Liviu CRACIUN & Costel IONASCU & Marius MITRACHE & Radu LOLESCU, 2010. "The Relationship Between Financial Crisis, Corruption, And Corporate Social Responsibility In Romania," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 65-72, May.
    4. Yakup Selvi & Eva Wagner & Ahmet Türel, 2010. "Corporate Social Responsibility In The Time Of Financial Crisis: Evidence From Turkey," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(12), pages 1-28.
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    Cited by:

    1. Mahalaxmi Adhikariparajuli & Abeer Hassan & Benedetta Siboni, 2021. "CSR Implication and Disclosure in Higher Education: Uncovered Points. Results from a Systematic Literature Review and Agenda for Future Research," Sustainability, MDPI, vol. 13(2), pages 1-23, January.

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    More about this item

    Keywords

    Corporate Social Responsibility; Financial crisis; Crisis Management;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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