CORPORATE SOCIAL RESPONSIBILITY: THE DISCLOSURE OF AN INCLUSIVE REGULATORY MODEL

Authors

  • Farqaleet Khokhar University Gillani Law College, Bahauddin Zakariya University, Pakistan
  • Ali Asad Department of Business Administration National College of Business Administration and Economics sub campus Multan
  • Dr. Khawar Naheed Assistant Professor Department of Commerce Bahauddin Zakariya University Multan
  • Fatima Mazhar Department of Management Sciences Government Sadiq College Women University, Bahawalpur

Keywords:

Corporate Governance, Corporate Social Responsibility, Inclusive, prescriptive and self-regulation, accountability in CSR practices, sustainable stakeholder engagement

Abstract

Corporate Social Responsibility has great significance because due to it the corporate bodies not only consider the interest of the stakeholders but also consider the environmental, economic, and social impact of their actions. CSR has a broad spectrum and it is a “ voluntary action” that the companies or businesses take to address the issues related to “ corporate irresponsible behavior” regarding social issues including labour, environmental, abuses of human rights. However, the piece inspects CSR as the mechanism for business operations, from the manufacturing and delivery of services or products to generating and promoting the interaction with the stakeholders of the company in a way to protect and encourage moral values or ethical conduct, legal requirements, and social expectations. For this purpose, the paper discusses the relationship between CSR and corporate governance to find the convergence between both. CSR in current times is weakly promoted due to the fact that the initiatives of CSR are existing without any socio-economic developmental impact. To fill that gap this paper conducts qualitative research and the research piece is an endeavor to examine CSR regulation including prescriptive and selfregulation. The piece explores the limitation of CSR regulation and constructs a framework for enhancing the accountability mechanism in CSR practices. The paper provides a more dynamic, responsive, effective, and coherent framework called the “ inclusive regulatory model.”

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Published

2022-09-30

How to Cite

Khokhar, F. ., Asad, A. ., Naheed, D. K. ., & Mazhar , F. . (2022). CORPORATE SOCIAL RESPONSIBILITY: THE DISCLOSURE OF AN INCLUSIVE REGULATORY MODEL. The Journal of Contemporary Issues in Business and Government, 28(3), 137–148. Retrieved from https://cibgp.com/au/index.php/1323-6903/article/view/2364

Issue

Vol. 28 No. 3 (2022): The journal of contemporary issues in business and government

Section

Articles

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