CORPORATE SOCIAL RESPONSIBILITY PRACTICES AND PERFORMANCE OF LARGE MANUFACTURING FIRMS
Abstract
- This study aims to analyze the internal and external CSR practices of large manufacturing firms at Mandalay Industrial Zone and to explore the effects of CSR practices on performance of the firms. Descriptive and exploratory research methods were used and 35 owners or managers, 175 employees, 175 customers and 175 residents were selected randomly from the scope of 35 large manufacturing firms. The results demonstrate that large manufacturing firms at Mandalay Industrial Zone are familiar with the CSR concept. They conduct the internal CSR practices medium to large scale in which working condition and safety factors are the largest measure undertaken. External CSR practices conducted also ranging from medium to large scale except for environmental practices which are exercised only to the medium level. Findings from this study point out that current practices of large manufacturing firms in the Mandalay Industrial Zone are more related to economic and legal responsibilities than ethical and philanthropic matters. Regarding the effect of CSR practices on the performance, internal CSR practices have larger effect on the non-financial performance than external CSR practices. Internal CSR practices largely effect employee satisfaction. External CSR practices largely effect on customer satisfaction and resident perception. Total CSR practices have no effect on financial performance. External CSR practices have larger effect than internal CSR practices on sales growth. Besides, internal and external CSR practices effect inversely on net profit growth. The findings of this study provide important contributions for business owners for focusing on the CSR practices to improve performance of the firm and for getting the best interests of stakeholders and society.
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Year
- 2020
Author
-
Moe Moe Khaing
Subject
- Economics, Journalism, Tourism and Law
Publisher
- Myanmar Academy of Arts and Science (MAAS)