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Crisis and Corporate Social Responsibility: Threat or Opportunity?

Author

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  • Dra. Belén Fernández-Feijóo Souto

    (Department of Finances and Accounting, Faculty of Economics and Business Administration, University of Vigo, Spain)

Abstract

The objective of this paper is to reflect on the consequences of the current economic and financial crisis on Corporate Social Responsibility (CSR), a concept of great importance nowadays. The core approach is the possible link between CSR and the crisis, if both elements can be combined. After an introduction to the current economic and financial situation, some conceptualizations about CSR are made to clarify the perspective used for this complex and incompletely defined concept. The last part of the paper presents an approach to the combination of both concepts, concluding with the idea that CSR in crisis periods can be converted from being a threat to an opportunity

Suggested Citation

  • 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.
    • Handle: RePEc:tei:journl:v:2:y:2009:i:1:p:36-50
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    Citations

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    Cited by:

    1. Petitjean, Mikael, 2019. "Eco-friendly policies and financial performance: Was the financial crisis a game changer for large US companies?," Energy Economics, Elsevier, vol. 80(C), pages 502-511.
    2. Lawrence Loh & Thomas Thomas & Yu Wang, 2017. "Sustainability Reporting and Firm Value: Evidence from Singapore-Listed Companies," Sustainability, MDPI, vol. 9(11), pages 1-12, November.
    3. Ziogas, Ioannis & Metaxas, Theodore, 2018. "CSR in South Europe during the financial crisis and its relation to the financial states of Greek companies," MPRA Paper 92453, University Library of Munich, Germany.
    4. Inmaculada Buendía-Martínez & Inmaculada Carrasco Monteagudo, 2020. "The Role of CSR on Social Entrepreneurship: An International Analysis," Sustainability, MDPI, vol. 12(17), pages 1-22, August.
    5. Calderon Huerta Mario Rodolfo, 2012. "Examining CSR Reporting and Economic Crisis a Study of GRI Reporting Companies," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 2(1), pages 30-39, March.
    6. Nadezda Gulko & Catriona Hyde & Nina Seppala, 2017. "Disclosure of corporate risks and governance before, during and after the global financial crisis: case study in the UK construction industry in 2006–2009," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 14(3), pages 207-223, August.
    7. Zaneta Simanaviciene & Rima Kontautiene & Arturas Simanavicius, 2017. "Assumptions of Corporate Social Responsibility as Competitiveness Factor," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 13(3), pages 149-160.
    8. Jos? Aureliano Mart?n Segura & Espigares Jos? Luis Navarro, 2014. "The environmental impact of economic activity on the planet: the role of service activities," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2014(3), pages 53-78.
    9. IAMANDI Irina-Eugenia & CONSTANTIN Laura-Gabriela & JOLDES Cosmin-Silviu-Raul, 2010. "Corporate Social Responsibility During The Economic Crisis. The Case Of The Romanian Companies," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 963-969, December.
    10. Szymon Cyfert & Waldemar Glabiszewski & Maciej Zastempowski, 2021. "Impact of Management Tools Supporting Industry 4.0 on the Importance of CSR during COVID-19. Generation Z," Energies, MDPI, vol. 14(6), pages 1-13, March.
    11. Hanene Ezzine, 2018. "Corporate governance and social norms during financial crisis: evidence from France and Saudi Arabia," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 22(3), pages 707-748, September.
    12. 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.
    13. Naciye Sekerci & Jamil Jaballah & Marc van Essen & Nadine Kammerlander, 2022. "Investors’ Reactions to CSR News in Family Versus Nonfamily Firms: A Study on Signal (In)credibility," Entrepreneurship Theory and Practice, , vol. 46(1), pages 82-116, January.
    14. Liliana SIMIONESCU & Dalina DUMITRESCU, 2014. "Corporate Social Responsibility And Financial Crisis," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 0(Special i), pages 31-37, September.
    15. Swiatkiewicz Olgierd, 2017. "Linking Csr To Strategy: A Practical View," Foundations of Management, Sciendo, vol. 9(1), pages 299-316, October.
    16. Swiatkiewicz Olgierd, 2017. "Linking CSR to Strategy: A Practical View," Foundations of Management, Sciendo, vol. 9(1), pages 299-316, October.
    17. Maria Barreiro-Gen & Rodrigo Lozano & Afnan Zafar, 2020. "Changes in Sustainability Priorities in Organisations due to the COVID-19 Outbreak: Averting Environmental Rebound Effects on Society," Sustainability, MDPI, vol. 12(12), pages 1-13, June.
    18. Kerstin Lopatta & Thomas Kaspereit, 2014. "The World Capital Markets’ Perception of Sustainability and the Impact of the Financial Crisis," Journal of Business Ethics, Springer, vol. 122(3), pages 475-500, July.
    19. Zeineb Miniaoui & Faten Chibani & Khaled Hussainey, 2019. "The impact of country‐level institutional differences on corporate social responsibility disclosure engagement," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1307-1320, November.
    20. Isabel Gallego‐Álvarez & Isabel M. García‐Sánchez & Cléber da Silva Vieira, 2014. "Climate Change and Financial Performance in Times of Crisis," Business Strategy and the Environment, Wiley Blackwell, vol. 23(6), pages 361-374, September.
    21. Michał Jurek, 2014. "The genesis and evolution of CSR self-regulation with special refer-ence to the case of financial institutions," Working papers wpaper70, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    22. Thi‐Hong‐Van Hoang & Wojciech Przychodzen & Justyna Przychodzen & Elysé A. Segbotangni, 2020. "Does it pay to be green? A disaggregated analysis of U.S. firms with green patents," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1331-1361, March.
    23. Yunhee Kim, 2015. "Environmental, Sustainable Behaviors and Innovation of Firms During the Financial Crisis," Business Strategy and the Environment, Wiley Blackwell, vol. 24(1), pages 58-72, January.
    24. repec:mje:mjejnl:v:12:y:2017:i:3:p:149-160 is not listed on IDEAS

    More about this item

    Keywords

    Crisis; Corporate social responsibility; Business ethics;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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