International Journal of Research Studies in Management
CollabWritive Special Issue
2024 Volume 12 Issue 15
Available Online: 20 October 2024
Author/s:
Zhang, Deyu
Graduate School, Lyceum of the Philippines University – Batangas, Philippines (23665749642@qq.com)
Abstract:
The study aimed to evaluate the corporate social responsibility practices, work values and financial success of manufacturing companies in China, as a basis for developing an enhanced corporate governance framework. Descriptive design was used in the present study as it aimed to describe the characteristics of the population and potential relationships of the variables. Through descriptive research, the proponent explored how CSR practices and work values may influence financial success. The survey questionnaire was utilized to gather data from the 400 respondents who are employees and middle managers in manufacturing firms. The study revealed moderate agreement on the corporate social responsibilities of manufacturing companies in terms of economic, social and environmental practices. The respondents revealed moderate agreement on their work values with a focus on intrinsic, extrinsic and social aspects of their work. The findings revealed a strong agreement among respondents regarding the financial success of the manufacturing companies as to profitability, efficiency and liquidity. Further, there were no significant relationships between CSR practices, work values and financial success. An enhanced corporate governance framework was developed for manufacturing firms to continuously improve their CSR practices, work values and financial success.
Keywords: corporate social responsibility practices, enhanced corporate governance framework, work values, financial success
DOI: https://doi.org/10.5861/ijrsm.2024.1298
Cite this article:
Zhang, D. (2024). Corporate social responsibility practices, work values and financial success of manufacturing companies: Basis for enhanced corporate governance framework. International Journal of Research Studies in Management, 12(15), 13-24. https://doi.org/10.5861/ijrsm.2024.1298