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The Dynamics of Corporate Social Responsibility (CSR) in Shareholder Activism and Cross-Cultural Management
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Abstract
This research sought to examine the dynamics that hinder CSR from becoming an instrument of cross-cultural stakeholder engagement, examine the possible usefulness of CSR as a cross-cultural communication and engagement device and provide recommendations on designing the incorporation of shareholder activism and cross-cultural management practices into a company’s CSR initiatives. The research design was qualitative involving semi-structured interviews with 10 experts and practitioners in CSR, shareholder activism and cross-cultural management. The data were analysed through familiarisation, initial coding, searching for themes, reviewing and defining themes. The study points out that the ‘intangible’ nature of CSR benefits, and the fact that the expectations of consumers and publics can be ‘more volatile and dynamic, are key challenges for making shareholder activism work in alignment with CSR’. However, the study also finds that CSR initiatives can become productive tools for cross-cultural communication and communication with multiple stakeholders, building bridges so all are able to communicate, compare and share understandings. The report recommends that firms to be more proactive in engaging with shareholder activism and helping shareholder activists understand the motivations and limitations for CSR initiatives.
Keywords
Corporate Social Responsibility, shareholder activism, cross-cultural management, engagement
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Cite this article
Jiang,X. (2024). The Dynamics of Corporate Social Responsibility (CSR) in Shareholder Activism and Cross-Cultural Management. Advances in Economics, Management and Political Sciences,93,66-74.
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Volume title: Proceedings of the 2nd International Conference on Management Research and Economic Development
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