The impact of firm reputation, green innovation, competitive success on firm financial performance when influenced by corporate social responsibility

Abstract

The increasing quality of life entails people's constant concern about environmental, human, and social issues. One of the topics of recent interest is Corporate Social Responsibility (CSR). CSR is becoming a growing trend globally and is one of the essential requirements of the integration process - which a series of businesses in Vietnam in particular and in the world, in general, are trying to implement. This study aimed to assess the influence of CSR on the Financial Performance of enterprises in Ho Chi Minh City through the following factors: Firm Reputation, Green Innovation, and Competitive Success. This research is conducted by quantitative methods, through an online survey and a total of 293 respondents who are employed and have work experience within Ho Chi Minh City organizations was the main studied object. The study is intended to verify the research model's reliability, validity, and reliability. SPSS and SmartPLS software were used to process the data after it was gathered. According to the research results, CSR is a factor that can increase the Competitive Success of enterprises. Meanwhile, the Financial Performance of enterprises is not significantly affected by CSR, contrary to previous studies. In terms of application, our study has added to the current understanding of CSR in general and its impact on Corporate Financial Performance in the context of the global pandemic COVID-19. As a result, it sets the path for future research in the sector and benefits enterprises.