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The Incidence of Social Responsibility in the Adoption of Business Practices

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  • Felipe Arenas-Torres

    (Centro de Investigación y Estudios Contables, Faculty of Business and Economics, Universidad de Talca, Talca 3460000, Chile)

  • Miguel Bustamante-Ubilla

    (Faculty of Business and Economics, Universidad de Talca, Talca 3460000, Chile)

  • Roberto Campos-Troncoso

    (Centro de Investigación y Estudios Contables, Faculty of Business and Economics, Universidad de Talca, Talca 3460000, Chile)

Abstract

Corporate social responsibility (CSR) policies are evidenced by adopting socially relevant business practices for people, communities, companies, and related institutions. Based on this conception, the present work determines the incidence of ethics and CSR on practices regarding diversity, environment, and community of Chilean companies. The method, applied to a sample of 3179 Chilean companies, was descriptive and correlational. Results demonstrate an incipient level of standardization in the adoption of social responsibility practices. The dimension regarding diversity presented a higher cumulative correlation coefficient, which could lead to a change in CSR practices. It is concluded that the collective impact of the ethics and CSR policies was positive and significant in the adoption of practices related to diversity, environment, and community.

Suggested Citation

  • Felipe Arenas-Torres & Miguel Bustamante-Ubilla & Roberto Campos-Troncoso, 2021. "The Incidence of Social Responsibility in the Adoption of Business Practices," Sustainability, MDPI, vol. 13(5), pages 1-14, March.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:5:p:2794-:d:510806
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    References listed on IDEAS

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    2. Felipe Arenas-Torres & Miguel Bustamante-Ubilla & Roberto Campos-Troncoso, 2021. "Diversity of the Board of Directors and Financial Performance of the Firms," Sustainability, MDPI, vol. 13(21), pages 1-11, October.
    3. Felipe Arenas-Torres & Miguel Bustamante-Ubilla & Valentín Santander-Ramírez & Pedro Severino-González, 2022. "Diversity and Governance: Is There Really Progress?," Sustainability, MDPI, vol. 14(9), pages 1-14, April.
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