Corporate Social Responsibility in North Odisha Strengthening Multiple Stakeholder Relationships: A Field Experiment

Ratikant Satpathy1 Bagwan Dash2 Soumendra Ku. Patra3 A S!RAC!

There has been a growing interest in the management literature in investigating the perceptions of stakeholders toward corporate social responsibility (CSR). Studies have shown that an assessment of stakeholders' perceptions towards CSR may influence top management's decision to respond in an encouraging manner to CSR initiatives. Several studies have been conducted on stakeholders' perceptions towards CSR. owever! these studies have been primarily conducted in "ndia. #ery little research on CSR has been done in $disha. %nder this background! the purpose of this research is to e&amine stakeholders' perceptions by using an e&perimental research design on CSR in $disha! more particularly north $disha. Respondents were able to identify that CSR consists of a range of responsibilities covering economic! legal! ethical! and philanthropic characteristics. "ey#ords: Corporate Social Responsibility! Stakeholders! 'erceptions and (ssessment.

Regional ead (Recovery and (R*)! +ahindra , +ahindra -inancial Services .td! /hurda! $disha 0 12)343! "ndia5 he can be reached at6 ratikant.satpathy7rediffmail.com.
4

ead! *epartment of 8usiness +anagement! -.+. %niversity! 8alasore! $disha! "ndia5 he can be reached at6 bhagaban9fm7yahoo.co.in.
:

(ssistant 'rofessor! Regional College of +anagement ((utonomous)! Chakadola Chandrasekharpur! 8hubaneswar ; 12)34:! he can be reached at6 soumendra.patra7gmail.com.

#ihar!

$N!RO%&C!$ON
14

Corporate Social Responsibility (CSR) is a way towards responsible competitive environment5 it provides that! social behavior of businesses is the parameters for success. CSR movement all over the world had been to many phases and faces after its orientation in the corporate world with a history of over )33 years in the developed economies. The initial phase was started with the charity then social activism with environmental protection movements. $n the other hand! simultaneously! legislations regarding employees< right were developed that resultantly forced to change the corporate behaviors and indulged them to adopt such behavior that make them more compliant towards legal! social and customer satisfaction. The ne&t phase of developing CSR! in the corporate world rested with the absorption of social role aligned with the profit takings. "n past few years! a paradigm change in the CSR role of the corporate world was observed from profit orientation organi=ation to building relationship with share holders and society

Since the concept of Corporate Social Responsibility (CSR) was initiated in )>4? by Sheldon! it has been a worldwide sub@ect of intense controversy and interest for business! society! government! and academia alike. The proverb Abusiness is businessB has been critici=ed and definitions of a more humane and ethical! more responsible and transparent! and more sustainable way of conducting business have emerged (.indfelt and TCrnroos! 433D5 +arrewi@k! 433:). This field has grown significantly! incorporating a great proliferation of theories! approaches and terminologies! such as social issues management! sustainable development! sustainable entrepreneurship! business ethics! eco0@ustice! stakeholder management! and CSR! etc. (Earriga and +elF! 433?). "n management literature! the definitions of such issues are too diverse to form a universally accepted definition of CSR. owever! there is an agreed consensus on the principles that CSR is about doing business sustainably and ethically! as well as treating or addressing stakeholder concerns responsibly ( opkins! 433?5 'anapanaan et al.! 433:).

14

'$!ERA!&RE RE($E) There have been many studies on perception towards CSR that include general perception towards CSR and perception based on Carroll<s pyramid of CSR which are summari=ed below. (mong the earliest study of stakeholders< perception is by olmes ()>1D). The study found that the respondents (corporate e&ecutives) believed that the opinion and philosophies of their companies have changed significantly during that period and they were highly optimistic on the companies< social role to the society because they believe that companies< involvement in social responsibility would provide positive outcomes to the companies such as increasing corporate reputation and goodwill. 8rown and *acin ()>>1) in their study used two activities (which somewhat did not represent all CSR activities) to induce corporate social responsibility associations by identifying companies who were involved and contributed to the society. They found that negative corporate responsibility associations provided negative effect on overall product evaluation whereas positive corporate responsibility associations enhanced product evaluations. This study also showed that corporate reputation affects employees< product evaluations. Creyer ()>>1) survey 4G3 parents in Horth Iastern of %S( on their purchase intention from ethical companies and found that parents perceived ethical behavior of a company as the most important factor to be considered before making buying decisions. Similarly! (uger! *evinney , .ouviere (433:) found that ethical issues faced by a company influenced employees< purchase decisions indicating that employees placed high priority on the selection of ethical companies when making a purchase decision. 'age and -earn (4332) in their study on around 44!333 employees in the %nited /ingdom and %S( and 2!G33 employees in Japan however! found that 13 percent of the employees in the %nited /ingdom! D? percent in the %S( and D2 percent in Japan! considered price and Kuality of products as most important compared to the ethical behavior of the companies. There are many studies on perceptions towards CSR based on Carroll<s pyramid which is depicted in the below figure ). These studies are about stakeholders perceptions towards CSR based on the four CSR dimensions of responsibilities. The respondents assigned points for each

14

dimension and the highest point ranked as one! followed by second highest point ranked as two! and ne&t point tanked as three and four conseKuently.

Figure *: !he pyramid o+ Corporate Social Responsibility Source6 Carroll ()>>)! p. ?4)

"t can be summari=ed that the level of awareness on the importance of CSR among the stakeholders in Horth $disha are still low even though managers and e&ecutives are supportive of companies< involvement in CSR activities. $ne study shows that stakeholders in Horth $disha perceived economic dimension as the most important dimension based on Carroll<s model of CSR dimensions. $verall! study on perception towards CSR in Horth $disha is still limited and hence the motivation for this study.

14

)ho are Stakeholders, The following is list of D key stakeholders for any corporate sector5 The Corporate sectorL 8oard of *irectors L 8oard of Trustees L +anagement uman resourcesL Staff L Imployees L 'ersonnel L Mork force Clientele L Consumer L Customer 'urveyor L Supplier L -inancer (-inance 'roviders0 -inancial "nstitutions) Society L 'eople L +edia L (uditors Eovernment L Regulator L .ocal (uthorities L (ssociations

Role o+ Stakeholders in the Corporate -o.ernance o+ Corporate Sector /Emerging Market Firms0 o+ North Odisha

Corporate Eovernance (CE) in its true sense is the mechanism of achieving the pre set corporate ob@ectives where responsibilities are associated with accountabilities. Eood Corporate Eovernance could not be achieved without the proper participation of all the stakeholders in the process of corporate governance. The Horth $disha markets have been categori=ed the Imerging +arket and all the listed companies at stock markets are reKuired to ensure the compliance of Code of Corporate Eovernance. The one important function of Corporate Eovernance is to protect the interest of all the stakeholders. *uring the past one decade! the emerging markets firm of Horth $disha has recogni=ed the significant role of Stakeholders role for the corporate governance. Ivery Stakeholder has some uniKue and special role in the CE e&ercise. (ll stakeholders are playing their due role and as a result of which corporate reforms are on its way. -rom the above discussion! it is concluded that the stakeholders of corporate sector in Horth $disha has very effective role in the CE. owever! the role is not efficiently been utili=ed to improve the in Horth $disha. The efficiency in this regard was observed to be different on case

14

to case basis. $n overall basis! the role of stakeholders was not found efficient towards Eood Corporate Eovernance. (lthough each stake holder is performing its due and assigned role but the achievements are not up to the mark of international standards as evident from the Morld 8ank assessment report. -urther! though the Corporate Eovernance is far better! if compare the status of CS in Horth $disha with its neighboring countries which have similar opportunities and problems but the stage of complete satisfaction towards Eood Corporate Eovernance is far away. "n all over the world the CE is also seen under the purview of CSR activities and role of stakeholders in this regard is given here under5

Role o+ Stakeholders in the implementation o+ CSR

Stakeholders are the essential component for implementation of CSR in any society. The world has now become a corporate village! where every act of it! is seen under various parameters starting from human rights to social cause! environment protections to civil and labor rights. Ivery person attached with the corporate world! in bigger terms is directly or indirectly a stake holder and every organi=ation along with its stakeholders recogni=e the importance of CSR. "n a society like Horth $disha! serious efforts are reKuired to implement certain procedures for active coordination among all the stakeholders.

1urpose o+ the Study

The main purpose of this study is to determine the effects of the values of individuals on their perceptions of the CSR issues in multiple stakeholder realms. The central research Kuestion is AMhat are the ma@or factors affecting individual<s perceptions of CSR issuesNB +ore specifically! the theoretical ob@ective of the dissertation is to enrich the concept of CSR in a normative way by identifying and developing the full range components of CSR! especially those related to the perceptions of this issue. This study also tries to contribute a new definition of CSR which envisages the role of culture in shaping CSR. The empirical ob@ective of the study is to outline individual and stakeholder perceptions of CSR using a descriptive0empirical approach!

14

and tries to clarify the relationship between antecedent individual (and stakeholder) factors and perceptions of CSR.

Scope o+ the Study

The scope of the study restricted to the employees of various companies of Horth $disha. -or the collection of the primary data the study was confined to Horthern region of $disha state only.

Signi+icance o+ the Study

( theoretical framework will be developed from the published literature. ( structured Kuestionnaire is used to generate primary data. "n line with the research! primary data will be generated by a survey! conducted on the population of Horth $disha.

2uestionnaire %esign ( Kuestionnaire will be developed! on the basis of the variables related to corporate social responsibility as identified from the literature. The respondents will be asked to record their opinion on a 20point .ikert0type interval scale i.e. strongly agree! agree! neutral! disagree and strongly disagree. The Kuestionnaire will also contain Kuestions on the demographic profile of the respondents. ( pilot survey is proposed to be conducted on :: respondents and language was refined to make it more understandable. The final Kuestionnaire will contain Kuestions relating to CSR and the demographic profile of the respondents.

14

%A!A ANA'3S$S Table0) shows the demographic profiles of the respondents. $ut of )1) respondents ma@ority of the respondents 1)O ()4)) are males and rest 4>O (23) are females. "n age group ??O (12) employees are above 2) years! 4DO (?2) employees are below :2 years and rest of the respondents are in between :2023 years. %nder the e&perience level D3O ()34) of the respondents having D;43 years of e&perience! 41O (?D) are having less than 2 years of e&perience and rest ): O (4:) having more than 4) years of e&perience. %nder the occupation profile of employees (position in companyLorgani=ation)! 44O (:1) are from top level! ::O (?3) employees are from upper middle level background! 4:O (:>) employees are from +iddle level! )4O (43) were from lower level and 43O (:2) of respondents are having unemployed. -urther in nature of organi=ation! ma&imum of the employees are from private sector G?.G3O ()?2) and only )2.43O from others category like tiny and ancillary industries. !able *: %emographic 1ro+iles o+ the Respondents 'articulars Eender Category +ale -emale Total (ge P:2 yrs :D023 yrs Q2) yrs Total I&perience P 2 yrs D043 yrs Q 4) yrs Hos. 'ercentage )4) 1)O 23 4>O )1) )33O ?2 4DO 12 ??O 2) :3O )1) )33O ?D 41O )34 D3O 4: ):O )1) )33O :1 44O ?3 ::O :> 4:O 43 )4O :2 43O )1) )33O )?2 G?.G3O 4D )1) )2.43O )33.33O

Total Top .evel %pper +iddle .evel +iddle .evel 'osition in CompanyL$rgani=ation .ower .evel %nemployed Total Hature of $rgani=ation 'rivate Sector $thers Total

14

Reliability and (alidity (fter reviewing Table 4! it can be concluded that the items used in the Kuestionnaire are internally homogenous and consistent. (t the same time! all items that validated the Kuestionnaire were good. Therefore! all the factors and variables in the Kuestionnaire are significantly contributing the study of Consumer perception towards CSR. !able 4: Reliability Analysis o+ Consumer 1erception on CSR Factors /Cronbach5s Alpha0 Cronbach5s No o+ Sl6 No6 $tems Alpha $tems ) Iconomic Responsibility 3.D4D 2 4 .egal Responsibility 3.G4? 2 : Ithical Responsibility 3.>)) 2 ? 'hilanthropic Responsibility 3.>)3 2 2 Charity 'rinciple 3.GD3 2 D Stewardship 'rinciple 3.>3) 2 1 Invironmental -riendliness 3.G21 2 (fter reviewing the above analysis it can be concluded that the items used in the Kuestionnaire are internally homogenous and internally consistent and at the same time all the items are good items. !able 7: %escripti.e Statistics o+ CSR Factors $tems Iconomic Responsibility .egal Responsibility Ithical Responsibility 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness Valid N (list wise) N )1) )1) )1) )1) )1) )1) )1) 171 Minimum ) ) ) ) ) ) ) Maximum 2 2 2 2 2 2 2 Mean :.>> :.?1 ?.DD :.12 :.)4 :.4) ?.G? Std6 %e.iation ).31) 3.>4> ).)34 ).31? ).:32 3.1?2 3.)4?

-urther! it was observed in the above table :! descriptive statistics reveals that mean score of factor AInvironmental -riendlinessB was coming highest mean score (?.G?) which mean strongly agree upon this factor i.e. consumer perception is more this indicates that consumer are giving highest importance that company should give more importance to environment which is a

14

3.29, 1.14

EconomicResponsibility
3.47, .86 .2'

LegalResponsibility
.42

.2' .24 .42 .34 .34 .97 .5' .87 .5' .'4 .'1 .18 .'2

3.66, 1.21

EthicalResponsibility
.89 3.75, 1.15

.32

Philanth opicResponsibility
3.12, 1.69

!ha ityP inciple

3.21, .55 .59

.'3 .'4

"te#a $shipP inciple

4.18, .15 .'5

En%i onmental& ien$liness

important factor consumer perception towards CSR in Horth $disha ! than coming AIthical ResponsibilityB ?.DD which was a good indicator that company should be ethical responsible for maintaining corporate social responsibility. The standard deviation of the factor ACharity 'rincipleB was coming highest i.e. ).:32 then coming factor AIthical Responsibility ().)34)B which indicates that in comparison to ethical responsible factor in charity principle factor employees are giving inconsistent response towards CSR in Horth $disha. Structural E8uation Modeling /SEM0 9 CSR 1erception Factors
Figure *: Structural E8uation Modeling o+ CSR Factors /Co.ariance o+ 1aths0

!able :: Maximum 'ikelihood Estimates o+ the Model Istimate :.4G1 :.?1? S.I. .3G4 .31) C.R. ' .abel ?3.):4 RRR par944 ?G.>)3 RRR par94:

Iconomic Responsibility .egal Responsibility

14

Ithical Responsibility 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness

Istimate :.DD) :.1?> :.))1 :.4)) ?.)G)

S.I. C.R. .3G? ?:.?2: .3G4 ?2.D:3 .)33 :).442 .321 2D.::: .3:3 )?).2)3

' .abel RRR par94? RRR par942 RRR par94D RRR par941 RRR par94G

!able ;: Co.ariances o+ the Model Istimate .)>G .434 .4?4 .?4: .)1> .3)G .?4? .:4? .::D .::> .3)? .G>) .>D> .?>G .3:G .G14 .?>1 .34G .2G> .3:1 .323 S.I. .311 .3>) .3>3 .))) .3D4 .3:4 .3G2 .3G3 .3>D .32> .341 .)): .):4 .31: .3:: .)4D .314 .3:4 .3G1 .3:> .344 C.R. 4.222 4.4)G 4.D>2 :.1>? 4.G1D .211 2.3)2 ?.3?D :.232 2.1D3 .?>2 1.G1: 1.:)G D.1>? ).)D> D.>)4 D.>)3 .GG? D.1G2 .>D1 4.44? ' .abel .3)) par9) .341 par94 .331 par9: RRR par9? .33? par92 .2D? par9D RRR par91 RRR par9G RRR par9> RRR par9)3 .D4) par9)) RRR par9)4 RRR par9): RRR par9)? .4?4 par9)2 RRR par9)D RRR par9)1 .:11 par9)G RRR par9)> .::? par943 .34D par94)

.egal Responsibility Iconomic Responsibility Iconomic Responsibility Iconomic Responsibility Iconomic Responsibility Iconomic Responsibility .egal Responsibility .egal Responsibility .egal Responsibility .egal Responsibility .egal Responsibility Ithical Responsibility Ithical Responsibility Ithical Responsibility Ithical Responsibility 'hilanthropic Responsibility 'hilanthropic Responsibility 'hilanthropic Responsibility Charity 'rinciple Charity 'rinciple Stewardship 'rinciple

P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q P00Q

Iconomic Responsibility Ithical Responsibility 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness Ithical Responsibility 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness Stewardship 'rinciple Invironmental -riendliness Invironmental -riendliness

!able <: (ariances o+ the Model

14

.egal Responsibility Iconomic Responsibility Ithical Responsibility 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness
', 1.14

Istimate .G21 ).)?3 ).431 ).)?1 ).D>? .224 .)?G

S.I. .3>: .)4? .):) .)4? .)G? .3D3 .3)D

C.R. >.443 >.443 >.443 >.443 >.443 >.443 >.443

' .abel RRR par94> RRR par9:3 RRR par9:) RRR par9:4 RRR par9:: RRR par9:? RRR par9:2

e1
1 3.29 ', .86 EconomicResponsibility

e2
1 3.47 .14 ', .'8

LegalResponsibility
', 1.21

e3
1 3.66

e8
.12 1 .'8 .'7

', 1.15 EthicalResponsibility

e4
1 3.75 .16

!"RPe ception

Philanth opicResponsibility ', 1.69 e5

1 3.12 ', .55

.16 .'8

!ha ityP inciple e6

1 3.21

.25

"te#a $shipP inciple ', .15 e7

1 4.18

En%i onmental& ien$liness

Figure 4: Structural E8uation Modeling o+ CSR Factors /1ath coe++icients0 "n the above table the path of stakeholder perceptions are coming significant. "n above table! the co variance path coefficients are significant since all the p values are coming RRR.

14

!able =: Maximum 'ikelihood Estimates> Regression )eights: /-roup number * 9 %e+ault model0

CSR 'erception CSR 'erception CSR 'erception CSR 'erception CSR 'erception CSR 'erception CSR 'erception

P000 P000 P000 P000 P000 P000 P000

Iconomic Responsibility .egal Responsibility Ithical Responsibility 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness

Istimate .):G .)4? .313 .)2G .)D) .3G4 .4?>

S.I. .34) .34? .343 .34) .3)1 .3:3 .321

C.R. D.DD3 2.43? :.233 1.DDD >.?G) 4.12D ?.:?)

' .abel RRR par9) RRR par94 RRR par9: RRR par9? RRR par92 .33D par9D RRR par91

!able ?: $ntercepts o+ the SEM 1ath Istimate :.4G1 :.?1? :.DD) :.1?> :.))1 :.4)) ?.)G) .31D S.I. .3G4 .31) .3G? .3G4 .)33 .321 .3:3 .:3? C.R. ?3.):4 ?G.>)3 ?:.?2: ?2.D:3 :).442 2D.::: )?).2)3 .42) ' .abel RRR par9G RRR par9> RRR par9)3 RRR par9)) RRR par9)4 RRR par9): RRR par9)? .G34 par9)2

Iconomic Responsibility .egal Responsibility Ithical Responsibility 'hilanthropic Responsibility Charity 'rinciple Stewardship 'rinciple Invironmental -riendliness CSR 'erception

!able *@: (ariances o+ the SEM Istimate S.I. C.R. ' .abel e) ).)?3 .)4? >.443 RRR par9)D e4 .G21 .3>: >.443 RRR par9)1 e: ).431 .):) >.443 RRR par9)G e? ).)?1 .)4? >.443 RRR par9)> e2 ).D>? .)G? >.443 RRR par943 eD .224 .3D3 >.443 RRR par94) e1 .)?G .3)D >.443 RRR par944 eG .3G: .33> >.443 RRR par94: -or construct adeKuacy and discriminate validity of the test of Consumer perception towards CSR in Horth $disha! confirmatory factor analysis through (+$S was used to test whether the observed measures were associated with their respective constructs. The fit of the model was e&amined and verified! that each indicator loaded significantly with its intended construct. Then the discriminate validity of the test of consumer perception practices was assessed by testing model that constrain the association between latent constructs and using a chi0sKuare test of the difference in fit between the model with unconstrained association.

14

( model was tested! linking the constructs of Consumer 'erception parameters ; Ivaluating Iconomic Responsibility! Ivaluating .egal Responsibility! Ivaluating Charity 'rinciples! Ivaluating 'hilanthropic responsibility and Ivaluating Stwardship. The theori=ed eight factor model! Chi0sKuare (2:4.32D! df S 4G! pP.33)! C-"S.G2)! HH-"S.GG! R+SI(S.2G! provided a good fit to the data (8rowne and Cudek! )>>:5 u and 8entler! )>>>). Iach item loaded significantly with its intended construct! as evidenced by the t0values. (pP.3)). (ll the p value of error in Table was acceptable at a signiTcant level of 3.32. Mithin the analytical framework of the study! structural eKuation model (SI+) was performed to determine the inUuence of eight factors towards stakeholders< perceptions in Horth $disha. .inear SI+ estimates models6 a measurement model and a structural model. ( measurement model is one that speciTes some number of latent! unmeasured variables or factors! each with a speciTed number of measured indicators or variables. ( structural model includes a set of paths (regression coefTcients) or correlations between the various measured and unmeasured variables in the overall model. The assessment of the model Tt is also revealed by the goodness of Tt inde& (E-") and other statistics such as the H." and T.". "t is generally recogni=ed that the E-"! H." and T." close or to above 3.>3 indicate a good model Tt. The root mean sKuare (R+SI() residual is a measure of the average e&plained variances and covariances in the model. The inde& should be close to =ero if the model Tts the data well. CONC'&S$ON "t is apparent from this study that the long term financial success! sustainable growth and development of every organi=ation rest with the implementation CSR activities. There is a strong need that the corporate sector of Horth $disha reKuires swift actions to accept and implement the fast growing CSR activism that is being adopted world wide and setting the new standards of financial successes! social reputations and growth. $n overall basis! the corporate sector in Horth $disha is at the initial stage of CSR activism but needs serious efforts to accept and assume the present fast pace of CSR along with recent paradigm change world wide. There is a reKuirement to progress the overall Kuality of CSR in the Horth $disha. The stakeholders are the most important element of CSR environment in any society and with reference to Horth $disha society! the stakeholders needs to get the awareness of what their rights are and how they could be protected. -urther! the role of stakeholders is reKuired to be more focused! effective and efficient towards good corporate governance and implementation of CSR. (t the end! the long term financial , socio economic successes! sustainable development and organi=ation growth of corporate sector of Horth $disha as a whole! is associated with the implementation of Corporate Social Responsibilities.

REFERENCES

14

8rown! T. J.! , *acin! '. (. ()>>1). The Company and the 'roduct6 Corporate (ssociations and Consumer 'roduct Responses. Journal of +arketing! D)(January)! DG0G?. Carroll! (. 8. ()>1>). ( Three *imensional Conceptual +odel of Corporate 'erformance. (cademy of +anagement Review! ?(?)! ?>10232. Carroll! (. 8. ()>>)). The 'yramid of Corporate Social Responsibility ; Toward the +oral +anagement of $rgani=ational Stakeholders 8usiness ori=ons! :?(?)! :>0?G. Carroll! (. 8. ()>>G). The -our -aces of Corporate Citi=enship. 8usiness and Society Review! )33! )01. Carroll! (. 8. ()>>>). Corporate Social Responsibility6 Ivolution of a *efinitional Construct. 8usiness and Society! :G(:)! 4DG04>2. Carroll! (. 8. (433?). +anaging Ithically with Elobal Stakeholders6 ( 'resent and -uture Challenge. (cademy of +anagement I&ecutive! )G(4)! ))?0)43. Coakes! S. J.! Steed! ..! , $ng! C. (433>). S'SS6 (nalysis without (nguish6 #ersion )D.3 for Mindows ()st ed.). China6 John Miley , Sons (ustralia .td. Creyer! I. . ()>>1). The "nfluence of -irm 8ehavior6 *o Consu mers s Really Care about 8usiness IthicsN . Journal of Consumer +arketing! )?(D)! ?4)0?:4. Earriga I.! and *. +elF6 433?! VCorporate social responsibility theories6 mapping the territory<! Journal of 8usiness Ithics 2:();4)! 2);1). olmes! S. .. ()>1D). I&ecutive 'erceptions of Corporate Social Responsibility. 8usiness ?3. ori=ons! )>(:)! :?0

opkins! +! Corporate Social Responsibility6 (n "ssue 'aper<! Morking paper Ho. 41! "nternational .abour $rgani=ation! Eeneva. J.W. TCrnroos6 433D! VIthics and value creation in business research6 comparing two approaches<! Iuropean Journal of +arketing ?3(:L?)! :4G ; :2). .indfelt! .. ..6 433D! <Itik ; den saknade lXnken. *en industriella nXtverksteorin i ett nytt vXrdeskapande perspektiv<! Wbo (kademi %niversity. 'age! E.! , -earn! . (4332). Corporate Reputation6 Mhat do Imployees Really Care (bout. Journal of (dvertising Research! ?2(:)! :320:)). Sheldon! $.6 )>4?! VThe 'hilosophy of +anagement<! Sir "saac 'itman and Sons .td6 .ondon! Ingland5 13;>>.

14