Corporate social responsibility: The way forward? Maybe not!: A preliminary study in Cyprus

Ioanna Papasolomou-Doukakis, Maria Krambia-Kapardis, M. Katsioloudes

Research output: Contribution to journalArticle

77 Citations (Scopus)

Abstract

Purpose - The paper seeks to consider the findings that emerged from a preliminary study into Cypriot businesses and their attitudes and behaviour towards corporate social responsibility (CSR). The overarching aim of the discussion is to explore whether Cypriot businesses have realized the opportunity of using CSR to build a strong reputation, a practice "embraced" and adopted by many successful and profitable corporations, or whether they ignore their social responsibilities and do it at their peril. Design/methodology/approach - A total of 4,000 questionnaires were given to the Employers Federation in Cyprus to mail to its members. Two issues were addressed: one dealing with philanthropic and the other with the stewardship CSR projects, covering social responsibility not only towards customers and society at large but also towards employees, suppliers, investors, and the environment. Findings - It appears that local corporations primarily emphasize the importance of meeting their responsibilities and obligations towards their employees and customers. The majority of respondents postulate that their philanthropic donations are made to approved organizations for tax deduction. So, financial gain appears to be a key motive for the adoption of social responsibility by the business sector in Cyprus. Research limitations/implications - The study was characterized by a low response rate, which has implications to the generalization of the research findings. Perhaps future research can focus on certain sectors and their approach to the practice of CSR instead of exploring several sectors in the Cypriot economy, which was the approach adopted in this study. Originality/value - The paper reports findings from the first nationwide study carried out in the area of CSR.

Original languageEnglish
Pages (from-to)263-279
Number of pages17
JournalEuropean Business Review
Volume17
Issue number3
DOIs
Publication statusPublished - 2005

Keywords

  • Corporate identity
  • Corporate image
  • Cyprus
  • Social responsibility

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