The Impact of the Crisis on Corporate Responsibility: The Case of UN Global Compact Participants in the USA

Authors

Jorge Arevalo, William Paterson University of New JerseyFollow
Deepa Aravind, CUNY College of Staten IslandFollow

Document Type

Article

Publication Date

2010

Abstract

This study is one of the first that examines the impact of the current economic crisis on business and non-business sector’s corporate social responsibility (CSR) efforts. We focus on one key CSR initiative, namely, the United Nations Global Compact (GC). Using survey data from a sample of GC participants in the US, we find that those reporting high CSR integration (i.e. into their policies, programs, performance, and goals), and those reporting lesser conformity to the active GC principles will be affected more by the crisis. Content analysis of CEO statements revealed critical obstacles in managing the risks and opportunities during the economic downturn.

Comments

Published in Corporate Governance: The International Journal of Business in Society, 2010, 10(4): 406-420.