Economic and non-economic consequences of corporate social responsibility: Application of Grounded Theory Approach

Subject Areas : Financial engineering

Sayyed Mehran  Taghavi ¹ (Department of Business Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran)
Mahdi  Karimizand ² (Department of Business Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran)
Vahidreza  Mirabi ³ (Department of Business Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran)

Received: 2021-03-01 Accepted : 2021-05-12 Published : 2021-09-23

Keywords: Corporate Social Responsibility, Economic Performance, Grounded Theory Approach, consequences of corporate social responsibility,

Abstract :

Corporate social responsibility is more on the agenda of business organizations for its ability to increase the company's competitiveness. This has led researchers to investigate what factors influence social responsibility affect the core path of the business.So , the purpose of this study is to make managers aware of CSR's consequences. The research used an interpretive philosophy, qualitative approach, and a methodology data approach with an emergent approach, and investigated the consequences of CSR in organizational and social level . In this regard, semi-structured interviews were conducted through snowball sampling methodology with Mellat bank's top managers in Tehran. The method of analysis was based on the Glaser coding approach. At the end of theoretical coding, the consequences of CSR were encoded based on Glaser coding families, the coding of the "anticipated consequence" family. These consequences have two economic dimensions (including increase in brand equity, increase in revenue, reduction of costs and rehabilitation in society) and non-economic dimension (including improvement of recruitment, retention and motivation, customer acquisition and retention, reputation improvement, increase of legitimacy, Health development, environmental sustainability and social, cultural and ethical development( .The results showed that CSR will improve the economic and non-economic condition of the bank.