The Effects of Internal CSR and External CSR on HRM Performance : Emerging Market MNEs
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The purpose of this study is to investigate the effect of corporate social responsibility on HRM performance and financial performance in emerging market. More specifically, after dividing CSR activities into internal CSR and external CSR, three types of CSR were classified according to the level of implementation of each CSR activity. Among these types, companies that are neglected in internal CSR but focusing only on external CSR are defined as hypocritical CSR, and companies that are faithfully implementing internal CSR but not external CSR are defined as Good workplace. In this perspective, the effects of internal CSR and external CSR on labor-related performance and financial performance were compared and analyzed. The empirical analysis used data from 186 Korean firms that entered emerging markets such as China and Vietnam. Empirical results show that both internal CSR and external CSR have a positive effect on human capital and relational capital. In addition, the internal CSR has a greater effect on the relational capital than the external CSR, and the total effect on the financial performance is also greater for the internal CSR than for the external CSR. This means that CSR activities targeting internal stakeholders are more effective in improving the relational capital, which in the long run is more effective in improving corporate financial performance
Abstract
The purpose of this study is to investigate the effect of corporate social responsibility on HRM performance and financial performance in emerging market. More specifically, after dividing CSR activities into internal CSR and external CSR, three types of CSR were classified according to the level of implementation of each CSR activity. Among these types, companies that are neglected in internal CSR but focusing only on external CSR are defined as hypocritical CSR, and companies that are faithfully implementing internal CSR but not external CSR are defined as Good workplace. In this perspective, the effects of internal CSR and external CSR on labor-related performance and financial performance were compared and analyzed. The empirical analysis used data from 186 Korean firms that entered emerging markets such as China and Vietnam. Empirical results show that both internal CSR and external CSR have a positive effect on human capital and relational capital. In addition, the internal CSR has a greater effect on the relational capital than the external CSR, and the total effect on the financial performance is also greater for the internal CSR than for the external CSR. This means that CSR activities targeting internal stakeholders are more effective in improving the relational capital, which in the long run is more effective in improving corporate financial performance
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