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CSR activities in award‐winning Thai companies

Author

Listed:
  • Busaya Virakul
  • Kalayanee Koonmee
  • Gary N. McLean

Abstract

Purpose - This case‐study research aims to examine best CSR practices in four Thai companies that were given CSR awards. The purpose is to report on best practices in CSR in Thailand. Design/methodology/approach - Four Thai companies that received the best CSR awards from the Stock Exchange of Thailand (SET) in 2006 were selected. The data were collected through a questionnaire, interviews, and company documents and web sites. Findings - CSR activities in the top Thai companies were based on moral or altruistic motivations with a focus on both production‐process and philanthropic outcomes. The driving forces behind CSR activities in these companies were CEO leadership, company performance, and stakeholders' expectations. Their CSR framework followed the stakeholders' model and issues management which arranged CSR activities into five main categories: education, arts and culture, sports, environment, and public welfare. Critical issues in managing CSR activities were selection of appropriate CSR activity, participation by people in communities affected by the CSR activity, gaining shareholders' support and understanding, and appropriate CSR evaluation methods. Research limitations/implications - The research studied only four companies in Thailand. This may limit generalizations and may provide only a foundation for further research rather than definitive conclusions. Originality/value - The findings of the research may be useful for: companies in Thailand or in other countries which are considering adopting CSR activities appropriate to their environment; researchers who might utilize the findings for furthering their CSR work; and indicating the contribution and the valuable role of both local and international CSR institutes and networks.

Suggested Citation

  • Busaya Virakul & Kalayanee Koonmee & Gary N. McLean, 2009. "CSR activities in award‐winning Thai companies," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 5(2), pages 178-199, June.
    • Handle: RePEc:eme:srjpps:v:5:y:2009:i:2:p:178-199
    DOI: 10.1108/17471110910964478
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    2. Čater, Tomaž & Čater, Barbara & Milić, Patricia & Žabkar, Vesna, 2023. "Drivers of corporate environmental and social responsibility practices: A comparison of two moderated mediation models," Journal of Business Research, Elsevier, vol. 159(C).
    3. Iordanis Kotzaivazoglou & Garyfallos Fragidis & Eugenia Papaioannou & Costas Assimakopoulos & Ioannis Nanos & Nektaria Astrini, 2023. "Supporting Culture to Improve Corporate Image: The Case of Greek Banks," Sustainability, MDPI, vol. 15(5), pages 1-16, February.
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    5. Uyar, Ali & Kuzey, Cemil & Karaman, Abdullah S., 2022. "ESG performance and CSR awards: Does consistency matter?," Finance Research Letters, Elsevier, vol. 50(C).
    6. Muttanachai Suttipun & Pankaewta Lakkanawanit & Trairong Swatdikun & Wilawan Dungtripop, 2021. "The Impact of Corporate Social Responsibility on the Financial Performance of Listed Companies in Thailand," Sustainability, MDPI, vol. 13(16), pages 1-14, August.
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