THE NEXUS BETWEEN CORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABILITY: A CORPORATE GOVERNANCE PERSPECTIVE
Abstract
The lack of good governance and accountability in some developing economies, has shifted attention to Multinational Enterprises (MNEs) and major corporations to contribute more in terms of corporate social responsibility (CSR) and sustainability for their host countries and communities. This research investigates the nexus between corporate social responsibility and sustainability as many businesses now consider sustainable corporate development to be a critical strategy.
This research while clarifying whether CSR has a beneficial effect on the long-term success of businesses found that the accomplishment of CSR is important for creating a positive company reputation, enhancing brand competitiveness, and encouraging sustainable business growth. From the standpoint of corporate governance, it also examines how internal governance variables affect the connections between the two concepts. Furthermore, it found that the CSR process on sustainable business development is moderated by corporate governance elements such as internal control, managerial skills, and the accuracy of accounting information. The research concludes by finding that that CSR has a positive impact on enterprise sustainability and the fulfilment of CSR activities are conducive to enhancing corporate sustainable development ability.
Keywords: corporate social responsibility, sustainable development, sustainability, corporate governance.
