A comparative analysis of corporate social responsibility development in the USA and China
Critical Perspectives on International Business
ISSN: 1742-2043
Article publication date: 7 April 2022
Issue publication date: 5 January 2023
Abstract
Purpose
This paper aims to conduct a comparative study between the historical development of corporate social responsibility (CSR) in both the USA and China. It is motivated by the phenomenon that CSR is developing in two different directions (global vs local).
Design/methodology/approach
A comparative study on sustainability-linked compensation illustrates how CSR in the USA is driven by firm-level economic decisions, in which the manifestations of CSR are usually those which prove to be the most profitable financially. Moreover, a case analysis on the green bond market in China contrarily illustrates how CSR in China is usually based more on alignment with top-down, state-led initiatives in which the state directs the ways in which CSR is manifested.
Findings
This paper reveals that despite globalizing trends are attempting to unify definitions of CSR, they inevitably become localized to fit the societal needs in which they are located.
Originality/value
By understanding how CSR development in these two countries has changed over time, this paper shows that future developments in CSR will likely be influenced more by local practices than by converging global forces.
Keywords
Acknowledgements
The authors appreciate the constructive comments from the editors, reviewers, Dan Guttman, Ulf Richter, Oran Young and seminar participants at Xi’an Jiaotong-Liverpool University and University of Nottingham Ningbo China. Additionally, the authors thank the financial support from: Science Foundation of Ministry of Education of China (19YJA630002), National Natural Science Foundation of China (72072088 and 72111530073) and Fundamental Research Funds for the Central Universities.
Citation
Bu, M., Rotchadl, S. and Bu, M. (2023), "A comparative analysis of corporate social responsibility development in the USA and China", Critical Perspectives on International Business, Vol. 19 No. 1, pp. 90-112. https://doi.org/10.1108/cpoib-09-2021-0073
Publisher
:Emerald Publishing Limited
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