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- Title
A Perceptual Approach to the Impact of CSR on Organizational Financial Performance.
- Authors
Cazacu, Marian; Dumitriu, Simona; Georgescu, Iulian; Berceanu, Dorel; Simion, Dalia; Vărzaru, Anca Antoaneta; Bocean, Claudiu George
- Abstract
Corporate social responsibility (CSR) is a progressively significant issue for organizations and governments. To benefit from a good reputation that reflects on organizational performance, organizations must ensure the balance between stakeholders' needs. This paper studies the direct and indirect effects of CSR on organizational financial performance as perceived by employees of organizations. The investigation used structural equation modeling to evaluate and describe the nature of the relationship between these two variables. The empirical study uses a perceptual approach, evaluating the perceptions of the closest stakeholders (employees). Data on the perceptions of 431 employees in Romanian organizations were collected following a questionnaire-based survey. The results indicate a strong effect of social responsibility on both direct and mediated organizational financial performance. The relationships established with the stakeholders ultimately affect organizational financial performance through variables such as the attraction and retention of employees, the attraction and loyalty of customers, more accessible access to capital, and the organization's reputation.
- Subjects
ORGANIZATIONAL performance; FINANCIAL performance; SOCIAL responsibility of business; SOCIAL responsibility; EMPLOYEE retention
- Publication
Behavioral Sciences (2076-328X), 2023, Vol 13, Issue 5, p359
- ISSN
2076-328X
- Publication type
Article
- DOI
10.3390/bs13050359