Practice and prospects of corporate social responsibility: An empirical Comparative study of both sides of the Taiwan Strait

• Main Author: Chung-Chieh Chao
• Publication Date: 2023
• Language: eng
• Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
• Download full: http://hdl.handle.net/10071/28389
• topic: CSR; International CSR framework; Asian CSR; Western CSR; HeXie management theory; Desenvolvimento sustentável -- Sustainable development; Quadro internacional de CSR; CSR asiático; CSR ocidental; Teoria de gestão HeXie

A generally accepted definition of corporate social responsibility (CSR) is that it is the concept through which companies voluntarily address social and environmental concerns as well as stakeholder interactions as operational aspects of their business. Therefore, it is expected that companies should look beyond the profit motive and support the overall wellbeing and sustainability of the communities in which they operate. Before the 21st century, CSR was largely an unexplored concept in Asia. Yet, even businesses that embrace it today focus disproportionately on philanthropic initiatives. Additionally, more of the multinational corporations (MNCs) from the West practice more CSR in Asia than the native Asian companies themselves. The primary aim is to show the Asiatic (with focus on China and Taiwan) perspective of corporate governance, highlighting the HeXie Management Theory. Secondary aims include a discussion of the regulations, implementation and development of CSR across the Strait, exploring the implications of CSR based on Eastern cultures and analysing CSR differences between Mainland China and Taiwan. While CSR is highly advanced and continues to become more sophisticated in Western economies, it is notably underdeveloped in Asia at both corporate and state levels although it is improving gradually. Further, while both China and Taiwan are implementing international approaches towards CSR, there are appreciable differences in their development strategies.