FM - Sustainability

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Browsing FM - Sustainability by Subject "Corporate Social Responsibility (CSR)"

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    Before and after the outbreak of Covid-19 : linking fashion companies’ corporate social responsibility approach to consumers’ demand for sustainable products
    (Elsevier, 2021-09) Vătămănescu, Elena Mădălina; Dabija, Dan Cristian; Gazzola, Patrizia; Cegarra Navarro, Juan Gabriel; Buzzi, Tania
    The current exploratory endeavour sets out to scrutinize the relationships between the corporate social responsibility (CSR) approach of fashion companies, their strategic CSR communication, corporate reputation, and consumers’ propensity towards buying sustainable products. The study elaborates on consumers’ perspective on these variables, comparing two-time frameworks, before and after the outbreak of the COVID-19 pandemic. The empirical research was performed on 977 Millennials and Gen Zers, thus extending previous studies based on the generational theory. Emphasis was placed on the fashion sector as one of the industries most challenged by the pandemic, with Italy being one of the most affected European countries. Scrutiny relied on a questionnaire-based survey; data being processed via structural equation modelling (SEM) technique. The findings reveal that consumers attach great importance to the social and environmental sustainability practices applied by companies (i. e., circular economy issues, location of apparel production, organic production of raw materials, pollution generated during production, respect of workers’ rights and health, and use of recycled materials) and to the attributes of targeted products, even since the spread of the virus. The empirical evidence has substantive implications for scholars, professionals, and companies, urging that sustainability priorities are critical to favourable consumer behaviour, and implicitly to business survival.
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    Exploring the ESG surge : a systematic review of ESG and CSR dynamics
    (Bucharest University of Economic Studies, Faculty of Management, 2024-05) Oprescu, Claudia; Marcu, Roxana Mihaela
    Corporate Social Responsibility (CSR) has been a focal point in academic research for years, examining its implications on corporate governance, stakeholder relationships, corporate motivation, and financial performance. While CSR traditionally aimed at ethical commercial success and stakeholder engagement, recent shifts, notably accelerated by the COVID-19 pandemic, have led to a waning interest in CSR in favor of Environmental, Social, and Governance (ESG) practices. This transition signals a broader reevaluation of corporate roles and priorities, underscored by the pandemic's disruptions. ESG, with its focus on sustainability and responsible business practices, emerges as a successor to CSR, as evidenced by increasing internet searches and corporate resource allocation towards ESG initiatives. Industry leaders, such as former Unilever CEO Paul Polman, advocate for ESG, asserting its centrality in modern responsible business practices. This article explores the evolving landscape of CSR and ESG, highlighting the conceptual relation between ESG and CSR in the transition towards purpose-oriented business models.
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    Have banks been supportive during the COVID19 pandemic?
    (University Goce Delchev Shtip, 2021-08-15) Marcu, Roxana Mihaela; Zbuchea, Alexandra
    The COVID-19 pandemic has had disrupting and negative effects on economies and society. Nevertheless, it seems that it has contributed to increased solidarity, and determined individuals and organizations to be more responsible, at least concerning health-related aspects. Companies around the world have been involved in supporting the health care system and minimizing the impact of the pandemic on economies around the world. During the COVID-19 pandemic, companies were motivated by utilitarianism and deontological factors to get involved in philanthropic CSR actions in the toughest moments of the pandemic. Banks seem to be no exception. Even more, during this pandemic, banks have done much to rehabilitate their reputations, tarnished during the previous financial and economic crises. This paper aims to analyze the perception of the involvement of Romanian banks during the pandemic, especially for overcoming the crises of the healthcare system. The findings could guide banks to be more consistent and better communicate their CSR activities and involvement for the benefit of society, and helps understand how people observe and evaluate the CSR efforts of banks.
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    Sustainable behaviour of B Corps fashion companies during Covid-19: A quantitative economic analysis
    (Elsevier, 2022-09-14) Ferioli, Matteo; Gazzola, Patrizia; Grechi, Danieli; Vătămănescu, Elena Mădălina
    This paper investigates whether or not Italian Certified B Corps® in the fashion industry achieved levels of corporate social responsibility (CSR) and financial performance that are comparable to listed companies in the same industry during the Covid-19 pandemic. After a review of the literature concerning B Corps, CSR and the circular economy, as well as some coverage of pandemic impacts, a quantitative approach is used to analyze the data empirically. Based on the data available, the study incorporated the entire population of Italian listed companies and B Corps in the fashion industry. Moreover, this study confirms the relationship between CSR and financial performance. The availability of sustainability documents other than the required social responsibility report does not directly affect a company’s profitability, but they are necessary for the long term. The results also confirm the positive relationship between sustainability certification and higher financial performance, as the most sustainable companies were also the most profitable. Certified B Corps® declare their willingness to adopt circular economic principles to the same extent as non-certified listed companies. Moreover, the results show that consumers mainly remember the information disclosed on a company’s homepage; therefore, managers should publish more there. However, they should not underestimate the importance of their sustainability report because it is an effective social communication tool, especially in the long term. Finally, obtaining the B Corp certification will allow companies to inform stakeholders of their social responsibility and achieve higher financial results.