On the other hand, innovation is recognized as the foremost and essential factor to increase the proficiency of the corporations and to enhance corporate social performance as a whole (Ho et al., 2018 Hou et al., 2019 Kostopoulos et al., 2011 Levine and Prietula, 2014). In turn, these distinct competencies enable the firm to outperform in the market and achieve long-term success and growth. Firms’ success is based on how efficiently and creatively they manage their distinct competencies (Cantele and Zardini, 2018 Ouedraogo and Koffi, 2018). In the modern era, firms need to concentrate more on intangible sources than on physical assets while gaining a CA. (2010) suggest that firms’ immaterial assets might include innovation that continually strengthens the link between CSRA and FP. Innovation has been aggressively used as an essential paradigm of CSRA in previous studies. Another element that can play a substantial part in the linkage between CSRA and FP is innovation. Hence, this study’s objective is to assess the mediation of CA between CSRA and the firm’s FP. It seems that CA plays a vital role in the pathway from CSRA to firms’ FP. This thought is previously discussed by researchers that CSRA practices become the reason to gain a CA for the corporations, which are an ultimate source of revenues for the firm because the CA of the firm enables it to attract new clienteles and gratify its existing customers (Saeidi et al., 2015 Guarnieri and Kao, 2008 Amoako and Dartey-Baah, 2020 Arnold, 2017 Cantele and Zardini, 2018). The CSRA involvement facilitates the firm to understand society and customers’ requirements and preferences, so it becomes better able to provide competitive and unique products/services to its customers (Amoako and Dartey-Baah, 2020 Cantele and Zardini, 2018).
CSRA IFINANCE MANAGER DRIVER
Therefore, the first objective of the current research is to analyze the influence of CSRA on FP.ĬSRA is a crucial driver of competitive advantage (CA) for organizations because CSRA enhances its ability to enhance its uniqueness and gratify the community and customers’ needs. However, there is a lack of harmony among past researchers regarding the significant contribution of CSRA toward profitability, financial performance (FP) and value of the firm. Several past studies have highlighted the contribution of CSRA involvement and activities in enacting organization (Saeidi et al., 2015 Cantele and Zardini, 2018 Amoako and Dartey-Baah, 2020). According to Wagner (2010), CSRA has the enormous potential to enhance the firm’s capabilities to attract and satisfy its customer and improve its potential and performance in the extended run. This modern approach shifts people’s mindset from traditional business techniques to socially responsible firms that undergo the essential practices of CSRA to benefit their customers, employees, community and themselves. Corporate social responsibility activities (CSRA) have changed the perceptions of doing business therefore, firms nowadays primarily need to focus on community and industry to be successful in the economic war. Growing trends in the business economy have changed corporate social responsibility in universal business concerns (Cegarra-Navarro et al., 2016 Kolk and Van Tulder, 2010).
CSRA IFINANCE MANAGER FULL
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Copyright © 2020, Mahnoor Zahid, Hina Naeem, Iqra Aftab and Sajawal Ali Mughal.
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