Disparities in Consumers Perception on Dimensions of CSR

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1 1(2), (40-54) 2016 Disparities in Consumers Perception on Dimensions of CSR Shahedul Alam Khan Leading University, Sylhet, Bangladesh & Mohammad Awal Hossen Leading University, Sylhet, Bangladesh (Received:04/01/2017; Accepted: 05/05/2017) Abstract The perception of consumers towards corporate social responsibility varies among countries due to political and socio-economical differences.there is a scarcity of academic works on consumers perception of CSR in the context of developing countries. This paper aims at identifying the variations of consumers response on the four dimensions (economic, legal, ethical and philanthropic) of CSR in Sylhet. Particularly, the consumers of banking sector have been considered for this study.in this quantitative research, a structured questionnaire has been used for identifying consumers response using convenience sampling method. One way ANOVA, descriptive analysis, and factor analysis have been used for analyzing the data. This study finds that consumers response on the four dimensions of CSR vary significantly and they give highest priority to the economic dimension among the four dimensions. The results of this paper can be helpful for banks and other institutions in formulating their CSR policies more effectively. Keywords: Business Ethics, Community Relations, Corporate Social Responsibility, Ethics, Morality, Public Relations, Social Responsibility, Consumer Perception, CSR dimensions JEL Classification: M140 Paper Classification: Research Paper Introduction Merely profit maximization objective of business is not enough for long-term survival. Business must also address the social problems as well as the problems of the stakeholders. To comply with this view business has developed a new approach named Corporate Social Responsibility (CSR), which is playing a vital part in designing the company strategies. Corporate Social Responsibility (CSR) concentrates on examining the obligations of business towards society and optimizing the effect of firms actions on community. Consumer is one of the important stakeholders of business. Businesses are gradually engaging in CSR as there is significant evidence that consumers reward the businesses those are engaged in socially responsible operations 40

2 AJCG (Levy, 1999), and also CSR improves performance of the firm (Handelman and Arnold, 1999). Furthermore, as countries differ in term of cultural, political and economic conditions, consumers perception on different dimensions of CSR also differ (Chapple and Moon, 2005; Welford, 2005). Therefore, it will be beneficial for businesses to identify the perception of consumers on different CSR activities for effectively designing their CSR strategies. In Bangladesh, CSR related academic studies mostly focused on companies reporting practices on CSR (Belal, 1999, 2000a, 2000b, 2001, 2006;Imam, 2000; Belal and Owen, 2007). These studies considered only companies reporting on CSR practices in financial statements based on small samples. Several other studies only focused on perceptions of managers toward CSR and these studies were too based on small samples(mamun and Ahmed, 2009; Duarte and Rahman, 2010). It has been found that there is a lack of studies on consumers perceptions toward CSR. This study aims at exploring the consumers response to different CSR dimensions. This study attempts to find solutions to the subsequent queries: i) whether there are variations in consumers perception toward the dimensions of CSR? ii) which one of the four dimensions gets the most importance? iii) in which order consumers prioritize the different dimensions? The first section of the study gives a literature review to have a generalized idea about the previous studies conducted on CSR. The second section covers the materials and methodology used in this research work and the final section shows and describes the analysis and findings of the research work. Corporate Social Responsibility (CSR) Literature Review Corporate Social Responsibility (CSR) is widely recognized in today s corporations although the development of the concept dates back to the 1930 s when studies proposed incorporation of voting rights for all shareholders to ensure greater transparency and accountability (Berle and Means, 1948; Carroll, 1991). Bowen (1953), one of the prominent pioneers of the concept of CSR, mentioned it as a duty of business to manage their activities in a way which will comply with the standards and purposes of community. Another classical theory, Stakeholder Theory, also proposed that business should create value for its stakeholders (Freeman, 1984). In the 1990 s, researchers advocated the stakeholders involvement, obligation to society and environmental stewardship as the prime responsibilities of corporations. One of the contributors to CSR of this decade associated it with ethical treatment of the stakeholders from within or outside the firm and this treatment will enhance development of all the stakeholders (Hopkins, 1998). Another comprehensive definition of CSR was given by the World Business Council for Sustainable Development in It mentioned CSR as the on going obligation of firms to act ethically as well as to enhance the standard of living of employees through economic advancement of the country. One of most prominent thinkers, Carroll defined CSR as the social responsibility of business encompassing the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time (Carroll, 1979). Carroll s Pyramid of Corporate Social Responsibility Carroll (1979)advocated that businesses have four prime obligations to society. The first obligation is economic responsibility. Businesses ultimate goal is to make profit and thereby maximizing wealth. The second obligation is legal responsibility. It means businesses have to comply with the law and perform their operations within the legal framework. Apart from the 41

3 legal responsibilities, a business should do those activities which are fair, just and right and expected by the society; this is the third obligation of business termed as ethical responsibility.the fourth and last obligation of business is philanthropic responsibility,which involves engaging in solving social problems and enhancing standard of living of the people. In 1991, Carroll showed these obligations in the form of a pyramid, which is known as The Pyramid of Corporate Social Responsibility. The model is illustrated in the following figure: Figure 1: The Pyramid of Corporate Social Responsibility (Carroll, 1991) Consumers Perception on CSR Consumer perception and response to CSR is gradually becoming an issue of concern among managers and researchers. (Beckmann, 2007; Bhattacharya and Sen, 2004; Smith, 2003). CSR based studies regarding consumer perception were mostly done in advanced nations (e.g. Uusitalo and Oksanen, 2004;Brown and Dacin, 1997; Creyer and Ross, 1997; Maignan and Ferrell, 2000; Maignan, 2001; Sankar, Bhattacharya, and Daniel, 2006). In developed countries, researcher have found that customers are highly conscious about the companies engaged in CSR and are prepared to give premium prices for products of socially responsible businesses (Creyer and Ross, 1997; Handelman and Arnold, 1999). As companies CSR activities increase, consumers loyalty towards the companies also increase (Brown and Dacin, 1997; Bhattacharya and Sen, 2004; Lichtenstein, Drumwright, and Braig, 2004; Du, Bhattacharya,and Sen, 2007). Orlitzky, Schmidt, and Rynes (2003) revealed an affirmative relation between social performance and financial performance of corporations. In developing countries, there is a lack of studies on consumer perception and further research should be conducted in this issue (Jamali, 2007). In Indonesia, a study found that consumers are not much aware and supportive toward CSR although CSR can be an influential factor in consumer s buying decision when the quality and price of goods are equal (Arli and Lasmono, 2010). Another study found a significant gap between consumers expectations and perceptions regarding social responsibility of business in India (Shegil, 2012). Hussain (2013) conducted a study in Pakistan regarding the consumers response toward different dimensions of CSR. 42

4 In emerging nations, there is an absence of academic works on CSR (Visser, 2008). This is also the scenario in case of Bangladesh. In Bangladesh, CSR related academic works mostly considered firms reporting practices on CSR (Belal, 1999, 2000a, 2000b, 2001, 2006;Imam, 2000; Belal and Owen, 2007). Quazi and O Brien (2000) conducted a comparative study between Australia and Bangladesh, where they established a two dimensional model of CSR and tested validity of this model within the context of these two countries. Naeem and Welford (2009) conducted another comparative research between Bangladesh and Pakistan, where they investigated the levels of awareness of CSR in the context of sustainable development. A study conducted on dimensions of CSR in Bangladesh focused on economic, social and environmental aspects and provided some CSR measuring techniques in the context of Bangladesh (Uddin, Hassan and Tarique, 2008). In a study, Mamun and Ahmed (2009) revealed that Bangladeshi managers focus on CSR had increased over the years. A similar study showed, managers in Bangladesh are significantly aware of CSR concepts, practices and barriers (Duarte and Rahman, 2010). Research Gap In Bangladesh, previous studies on CSR focused mainly on reporting practices of companies on CSR, stakeholders and managers perception on CSR, etc. It has been observed that there is an absence of studies on consumers perception on CSR in Bangladesh. This study aims at exploring consumers perception on different dimensions (Carroll s CSR Pyramid) of CSR, particularly in case of banking industry of Bangladesh. Contribution of the Study The study will help firms to understand the perception of consumers on CSR practices. Furthermore, it will highlight the practices, consumers prefer most. Consequently, it will help firms to design effective CSR practices. In addition to this, it will reveal whether the perception of Bangladeshi consumers differs from the perception of consumers of other countries. Sample Research Methodology Convenience sampling method was used for this study. The target population of the study was customers of different banks. Around 280 respondents were surveyed in Sylhet region of Bangladesh in the year 2016 for this case. Table 1 demonstrates the information about the final sample: Table 1: Demographic Profile of the Respondents AJCG Gender % Male 66 Female 34 Age % Above Above Above Above Above 55 5 Education % SSC 5 HSC 14 Bachelor 38 Diploma 5 Masters 31 Others 6 PhD 1 Marital Status % Single 53 Married 44 Widowed 3 Occupation % Service 39 Business 17 Others 44 43

5 Method of Data Collection In this paper, a survey was conducted through a well-structured questionnaire containing 21 statements using likert scale method.these statements/factors have been adapted from several research articles (Rizkallah, 2012; Wu and Wang, 2014). The scale measures 1=strongly disagree to 5= strongly agree. Variables Used for Study The statements, in the questionnaire, were clustered into four dimensions of corporate social responsibility (i.e. economic, legal, ethical and philanthropic) (Carroll, 1979). Caroll s (1979) four dimensional pyramid model of CSR comprises economic, legal, ethical and philanthropic dimensions. The hypothesis of this paper is developed based on this model. In most developing countries, the governments are not solely capable enough to contribute in the economic development of country without the help of other organizations. That is why, government and consumers appreciate the economic contributions of business. Economic contributions of business should be seen as positive and more development oriented approach to CSR that brings economic and sustainable development in developing countries (Fox, 2004). Banking industry is a major contributor of economic development in a country. Consumers expect that their banks will contribute to the economic conditions of individual consumer as well as to the economic development of the country. Government authorities and agencies responsible for enforcing laws and regulating ethical standards are not capable enough to perform their duties effectively in the developing countries. Mwaura (2004) argues that developing countries are lagging behind in incorporating legal issues relevant to CSR in their legal system. Furthermore, tax avoidance by businesses is perceived as reckless business conduct in emerging nations (Christensen and Merphy, 2004). In developing countries ethical responsibilities have got least importance on the CSR agenda. For instance, Transparency International s Annual Corruption perception index and Global Corruption Barometer and The World Bank s Investment Climate Survey (2015) have shown that emerging nations are among the most badly graded nations and corruption still have a serious impact on business. Consumers also perceive that organizations are not committed to legal and ethical obligations. In developing countries, philanthropy usually receives greater importance as expression of CSR (Arora and Puranik, 2004; Fig, 2005; Ahmad, 2006;Weyzig, 2006; Amaeshi et al., 2006). Consumers also perceive that it is easier for organizations to involve in CSR through philanthropic activities than complying with legal and ethical obligations. Hypotheses The following hypotheses are considered for this paper: H1: Consumers perception on the four dimensions of CSR vary significantly. H2: Consumers of banking industry give highest priority to economic responsibility than legal, ethical and philanthropic responsibility. H3: Consumers of banking industry give decreasing importance in the following order tophilanthropic, legal, and ethical responsibility. 44

6 Research Design In order to test the hypotheses; ANOVA, principal component analysis and descriptive statistics will be used. ANOVA and principal component analysis will be used to see whether there is a significant variation of consumers perception on different dimensions of CSR. Descriptive statistics will be used to identify the priorities given by the consumers on the dimensions of CSR. Results and Discussion Hypotheses were tested using the one way ANOVA and principal component analysis. The Table 2 confirms that a significant differences is present between the perception of consumers on economic and all other dimensions (p= 0.000). The perception on legal dimension has significant variation with economic (p=0.000) and ethical (p=0.056) dimensions, whereas it has insignificant variation with philanthropic (p=0.351) dimension. Again, the perception on ethical dimension has significant variation with economic (p=0.000) and legal (p=0.056) dimensions, but insignificant variation with philanthropic (p=0.329) dimension. At last, the perception on philanthropic dimension has insignificant variation with legal (p=0.351) and ethical (p=0.329) dimensions, except economic (p=0.000) dimension.furthermore, the table 3 below shows that, there are differences among the means of the four dimensions which support H1: Consumers perception on the four dimensions of CSR vary significantly. LSD (I) group ECO LEG ETH PHI Table 2: Multiple Comparisons of the Dimensions of CSR (J) group Mean Variance (I-J) Standard. Error Significance. Ninety-five percent Confidence Interval Lower Bound LEG * ETH * PHI * ECO * ETH PHI ECO * LEG PHI ECO * LEG ETH *. The mean variance is significant at the 0.05 level. Higher Bound From the Table 3, it can be seen that, consumers have given highest priority to economic dimension compared to all other dimensions as it has the highest mean (xeco=3.7175). To further justify it, factor analysis can also be conducted. To conduct a factor analysis the variables must be fairly correlated. Table A1 from the appendix shows that the variables are fairly correlated with each other with a KMO value of Thus, factor analysis can be treated as a proper method for further analysis. AJCG 45

7 Table 3: Descriptives of Dimensions of CSR Dimensions N Mean Standard Deviation Standard. Error 95% Confidence Interval for Mean Lower Bound Higher Bound Minimum ECO LEG ETH PHI Total Component Table 4: Component Matrix Component ECO LEG ETH PHI ECO LEG ETH PHI A C A C A C A C A C A D B D B D B D B D B Extraction Method: Principal Component Analysis Maximum It can be seen from the Table 4 that almost all of the commonalities of economic dimension are more than 0.4, which denotes that economic dimension has the most significant contribution among all the dimensions. Table 5 below shows that under Extraction sum of square loadings, economic dimension accounts for a % of the total variance and under rotation sum of square loadings it accounts for 26.21% of total variance. These outcomes also confirm the previous results that the study has found earlier. Thus it can be said, economic dimension is perceived by customers as the most important dimension of CSR. These outcomes also confirm H2: Consumers of banking industry give higher priority to economic responsibility than legal, ethical and philanthropic responsibility. 46

8 AJCG Table 5: Total Variance Explained Component Initial Eigen values Extraction Sums of Squared Loadings Total % of Variance Cumulative % Total % of Variance Cumulative % Rotation Sums of Squared Loadings Total % of Variance Cumulative % Extraction Method: Principal Component Analysis. The figure 2 reveals that consumers give less priority to ethical dimension (xeth=3.4489) followed by philanthropic dimension (xphi=3.3851) and legal dimension (xleg=3.3241). These results rejects H3: Consumer of banking industry give decreasing importance in the following order to- philanthropic, legal, and ethical responsibility. 47

9 Figure 2: The Means Plot of the Four Dimensions.This figure illustrates the mean value of CSR dimensions: Economic (ECO), Legal (LEG), Ethical (ETH), and Philanthropic (PHI). A similar study conducted in Pakistan shows that the consumers preferred the legal, ethical and philanthropic dimensions of CSR and rejected the economic dimension (Hussain, 2013). Another study conducted in Indonesia reveals that the consumers perception on the dimension of CSR did not vary significantly which is opposite to the findings of this study (Arli and Lasmono, 2010). Conclusion Consumers in developing countries view economic responsibilities of banks as the most important obligation to the society since these countries suffer from high level of unemployment, lack of investment and abysmal poverty and many other economic crisis. Banks can support economic development of the country through employment generation, infrastructure development, and also can improve financial health of the economy by promoting citizen s saving tendency and paying taxes duly. Earlier discussion showed that philanthropic responsibilities will get more importance in consumers perception than legal and ethical responsibilities. But in this study, the findings have showed a different picture. Here, ethical responsibilities are perceived as second most important obligation followed by philanthropic and legal obligations. The reasons behind this outcome may have many bases. Consumers of banks may believe that banks maintain high ethical standards, which is needed to ensure their credibility and trustworthiness toward consumers. In developing countries, the legal system is not strong enough to regulate banks that is why there is lack of trust among consumers regarding the current legal system. This study found that consumers have overlooked the significance of philanthropic activities performed by the banks. Customers may not be conscious of the philanthropic practices as these activities do not provide any direct value to them. Another reason may be the lack of promotion of banks philanthropic activities. This study has some limitations, which can be used as a guideline for future research. The samples for this research were limited to a certain industry and a particular region. Future research can take these issues into consideration. Limitations of the study The study has some mentionable limitations. First of all, the target sample was consumers of commercial banks operating in Sylhet region of Bangladesh. Secondly, the study did not distinguish the types of commercial banks (e.g. Private, Public, foreign etc.). Thirdly, the study explained that there is a variation of consumers perception on the dimensions of CSR, but it did not reveal the extent of variation. 48

10 Scope for Future Future research can focus on consumers of different industries as well as different regions of the country. Moreover, studies can be done on perception of consumers from different types of banks. In addition, research works can be conducted to find out the extent of variation of consumers perception. References Ahmad, S. J. (2006). From Principles to Practice: Exploring Corporate Social Responsibility in Pakistan. Journal of Corporate Citizenship, 24, Amaeshi, K. M., Adi, B. C., Ogbechie, C., &Olufemi, O. A. (2006). Corporate Social Responsibility in Nigeria: Western Mimicry or Indigenous Influences? Journal of Corporate Citizenship, 24, Arli, D. I., & Lasmono, H. K. (2010). Consumers Perceptions of Corporate Social Responsibility in A Developing Country. International Journal of Consumer Studies,34(1), Arora, B., & Puranik, R. (2004). A Review of Corporate Social Responsibility in India s Development, 47(3), Beckmann, S. (2007). Consumers and Corporate Social Responsibility. Australasia Marketing Journal, 15(1), Belal, A. R. (1999). Corporate Social Reporting in Bangladesh. Social and Environmental Accounting,19(1), Belal, A. R. (2000a). Corporate Social Performance Reporting in Bangladesh. Managerial Auditing Journal, 15(3), Belal, A. R. (2000b). Environmental Reporting in Developing Countries: Empirical evidence from Bangladesh. Eco-Management and Auditing, 7(3), Belal, A. R. (2001). A Study of Corporate Social Disclosures in Bangladesh. Managerial Auditing Journal, 16(5), 274. Belal, A. R. (2006). Stakeholders Perceptions of Corporate Social Reporting (CSR) in Bangladesh. Paper presented at the International Congress of Social and Environmental Accounting Research. Belal, A. R., & Owen, D. L. (2007). The Views of Corporate Managers on the Current State of, and Future Prospects for, Social Reporting in Bangladesh. Accounting, Auditing & Accountability Journal, 20(3), Berle, A. A., & Means, G. C. (1948). The Modern Corporation and Private Property. New York: Macmillan. Bhattacharya, C. B., & Sen, S. (2004). Doing Better at Doing Good: When, Why, and How Consumers Respond to Corporate Social Initiatives. California Management Review, 47(1), Bowen, H. R. (1953). Social Responsibilities of the Businessman, New York: Harper & Row. Brown, T. J., & Dacin, P. A. (1997). The Company and the Product: Corporate Associations and Consumer Product Responses. Journal of Marketing, 61(1), Carroll, A. B. (1991). The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders. Business Horizons, 34(4), Carroll, A. B.(1979), A Three-Dimensional Conceptual Model of Corporate Social Performance.Academy of Management Review, 4(4), Chapple, W., & Moon, J. (2005). Corporate Social Responsibility (CSR) in Asia: A seven-country study of CSR web site reporting. Business & Society, 44(4), Christensen, J., & Murphy, R. (2004). The Social Irresponsibility of Corporate Tax Avoidance: Taking CSR to the Bottom Line. Development, 47(3), AJCG 49

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13 Corre lation Appendix Table A1: Correlation Matrix A1 A2 A3 A4 A5 A6 B1 B2 B3 B4 B5 C1 C2 C3 C4 C5 D1 D2 D3 D4 D5 A A A A A A B B B B B C C C C C D D D D D

14 AJCG Sig. (1- tailed) A A A A A A B B B B B C C C C C D D D D D

15 Authors Profile Shahedul Alam Khan has obtained his Bachelors of Business Administration in Management and Masters of Business Administration in Strategic & International Management from University of Dhaka, Dhaka, Bangladesh. Afterward, he joined Leading University as a lecturer and devoted his focus on teaching management for around five years. He has research interests in Management, International Trade and Business, Strategic Management and Corporate Social Responsibility. Mohammad Awal Hossen has obtained his Bachelors of Business Administration in Management and Masters of Business Administration in Human Resource Management from the University of Dhaka, Dhaka, Bangladesh. His article titled Corporate Social Responsibility: Dimensions and Challenges in Bangladesh has been published in The Journal of Global Disclosure of Economics and Business. He has research interests in Management, Human Resource Management and Corporate Social Responsibility. Currently, he is working as Senior Lecturer in Leading University. 54