CORPORATE SOCIAL RESPONSIBILITY IN VIETNAM; A STUDY OF ITS IMPORTANCE BY PHAM THUY LY E0700048 i BACHELOR OF BUSINESS (ACCOUNTING) HONS HELP UNIVERSITY COLLEGE MARCH 2011 DECLARATION OF ORIGINALITY AND WORD COUNT I hereby declare that the graduation project is based on my original work except for quotations and citations which have been duly acknowledged I also declare that it has not been previously or concurrently submitted for any other course/degree at Help University College or other institutions The word count is 10,758 words ii _ Pham Thuy Ly 28 March, 2011 ACKNOWLEDGEMENT This project would not have been made possible without the assistance, support and encouragement of many people I wish to take this opportunity to thank all the people who have helped me during the time of completing this study I would like to express my deep gratitude to my supervisor Dr Le Van Lien, International School, Vietnam National University Hanoi He has kindly helped me and supported me all the way through I also would like to express my thank to Ms Sumathi and Ms Shenba, Help University College, who initiated the project and give so much instruction and support Additionally, I also would like to extend my special thanks to managers, accountants, my friends, and other people who have help me to carry out the survey I want to thank them for all their support, interest and valuable hints PHAM THUY LY iii CORPORATE SOCIAL RESPONSIBILITY IN VIETNAM; A STUDY OF ITS IMPORTANCE By PHAM THUY LY March 2011 Supervisor: Dr Le Van Lien ABSTRACT CSR is currently an important and necessary issue for everyone and business organizations in the world, as well as in Viet Nam CSR concept has been developed for several decades in the world, but in Viet Nam, it is not popular for all people and companies Especially, Vietnamese economy has been integrated with global economy, and then CSR has become more important issues for business to develop sustainably and competition with internal and external partners In order to develop CSR concept and disclosure further, perception on CSR of stakeholder groups is a unique factor This study aims to discover how organization view CSR and CSR issues, whether behavior or attitude of manager‟s business organization and consumers, as well as accounting students toward CSR The results of the study suggest that there is strong support for CSR from managers and a growing awareness among consumers and accounting students Nevertheless, there is expectation gap between how people perceive and how people act because there are lack of adequate CSR disclosure from firm, and not-soiv enthusiastic support actions from consumers due to the barriers in living expenses, and low effective CSR communication tools that companies use However, with highly positive attitude toward CSR and the willingness to learn about CSR of people, CSR concept and practice will be popular and developed further in the future TABLE OF CONTENTS DECLARATION OF ORIGINALITY AND WORD COUNT i ACKNOWLEDGEMENT ii ABSTRACT iii TABLE OF CONTENTS iv LIST OF FIGURES v INTRODUCTION 1.1 Idea for Corporation Social Responsibility 1.2 CSR in the world 1.3 CSR in Vietnam 1.4 The reason for conduct this research LITERATURE REVIEW 2.1 The definition and conceptualization of CSR 2.1.1 Zenisek‟s conceptualization (1979) 2.1.2 Carroll‟s conceptualization (1979) 2.1.3 Wood 1991 conceptualization 2.2 Stakeholder theory 11 2.3 Social accounting 13 v 2.4 CSR reporting 15 2.5 Hypothesis 17 2.5.1 Manager‟s perception on CSR conceptualization 2.5.2 Consumer‟s perception on CSR conceptualization 18 2.5.3 Accounting student‟s perception on CSR conceptualization 20 RESEARCH METHODOLOGY 22 3.1 Research objective 22 3.2 Applied research methodology 22 3.3 17 Data source 22 3.3.1 Primary data source 23 3.3.2 Secondary data 23 3.4 Research method 24 3.5 Research tool 24 3.6 Data collection 25 3.7 Sampling 25 3.7.1 Sample population 3.7.2 Sample entity 25 3.7.3 Sample size 26 3.8 25 26 Language in questionnaire FINDINGS AND ANALYSIS 27 vi 4.1 Findings 27 4.2 Result analysis 28 4.2.1 Management 28 4.2.1.1 Result of manager‟s questionnaire survey 28 4.2.1.2 Discussion 30 4.2.1.3 Conclusion 31 4.2.2 Consumers 32 4.2.2.1 Result of questionnaire survey 32 4.2.2.2 Discussion 34 4.2.2.3 Conclusion 36 4.2.3 Accounting students 36 4.2.3.1 Result of questionnaire survey 4.2.3.2 Discussion 38 4.2.3.3 Conclusion 4.3 36 39 Implementation 39 CONCLUSION 40 5.1 Conclusion 40 5.2 Recommendation 42 5.3 Limitation of study 43 REFERENCES 45 vii APPENDIX: QUESTIONNAIRE 56 LIST OF FIGURES Figure 2.1 A hierarchy of CSR (adapted from Carroll, 1991) Figure 2.2 The CSP Model (adapted from Wood, 1991) 11 Figure 4.1 Respondents 27 Figure 4.2 Distribution of responses from management survey 28 Figure 4.3 Distribution of responses from consumer survey 32 Figure 4.4 Distribution of responses from accounting student survey 36 viii CHAPTER I: INTRODUCTION 1.1 Idea for Corporate Social Responsibility In recent time, CSR concept is not new to people in over the world CSR is concerned by not only enterprises, but also relevant parties, and stakeholders (“stakeholder” is the people are directly affected by the business operation) In the past, most of firms only concern for profit maximize wherever their factories caused some negative effects on environment and local citizen around their location However, this attitude has been changeable, as most of firms need to care about their responsibilities toward society This is also the foundation for appearance the concept of “CSR” that is the way business balance between their operations and their effect on environment and society In other words, managers also take strategies to meet the expectations of shareholders and stakeholders relating to their attitude toward society The key word of this concept is “Social Responsibility” including organization‟s interaction with environment and organization‟s treatments for employees also Based on concentration on CSR, managers expect that they will involve their firms into sustainable developments For more clear understanding about the concept of CSR, the following parts will provide more detailed information about CSR in the world, the fact of CSR in Vietnam, and the reason for conduct this research 1.2 CSR in the world As mentioned above, most firms focus on CSR strategies in their operations Besides financial reports, they also concern about CSR report CSR report or we call Sustainability report is the strategic tool help managers evaluate what they done to meet stakeholder‟s expectations, and what they need to improve better stakeholder‟s expectations Sustainability reports are not new and this type of report is published by over two-thirds of the Fortune Global 500 companies Sustainability reports also help manager evaluate the economic and social performance (http://www.environmentalleader.com) We know some reputation corporation that issued its CSR reports every year 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5= strongly agree, 4= agree, 3= neutral/no opinion, 2= disagree, 1= strongly disagree Questions 1 Company should practice CSR voluntary Activities to protect environment, employees and solve social issues are social responsibility of the company Companies should have responsibility to their customers and society at large rather than their employees Mostly concerning CSR are related executive and management attitude toward CSR Social responsibility has seemed to b a major purpose for companies to use communicators to improve their image brand CSR reporting will have positive impact on stakeholder and investor‟s decision CSR programs help company to increase sales, as well as profits Additional personal comments (option): _ _ _ _ 56 _ _ _ 57 CONSUMER SURVEY Personal Information Age:  20-30 Marital status: Married   30-40 Single  Number of children:  None  40-50 1  50-60 2  Above 60  Above Education: _ Current employment: Questionnaire Towhat extent you agree with those questions? 5= strongly agree, 4= agree, 3= neutral/no opinion, 2= disagree, 1= strongly disagree Questions 1 Business organizations have responsibility to social problems Many Vietnamese businessesconcentrated on solving short term issue in price and quality rather than issue of sustainable development and CSR issue I find information and knowledge about CSR through mass media such as newspaper, radio and television, internet I feel important to buy product from company who CSR practices Inotice to see SA8000 or WRAP in products package when I buy them I will not purchase products form unethical companies Through which channels you know about CSR activities of companies? How you think about quality of the information? 58 _ _ _ _ _ _ _ _ _ _ _ _ _ Additional opinion (option): _ _ _ _ _ _ _ _ 59 ACCOUNTING STUDENT SURVEY Personal information School: _ Years of degree: Gender: Male  Female  Questionnaire Towhat extent you agree with those questions? 5= strongly agree, 4= agree, 3= neutral/no opinion, 2= disagree, 1= strongly disagree Questions 1 CSR practices are important for everyone CSR is needed to be more concerned in Viet Nam Accounting student have responsibility to know and understand CRS role CSR disclosure brings benefit for companies It is necessary for students to attend in social activities in the universities Accounting students should haveCSR practices as long as in the universities Before I finish my course, I will participate in training class to gain knowledge and skill to understand further CSR issues Additional personal comments (option): 60 ... defines CSR as “the provision of financial and nonfinancial information relating to an organization’s interaction with its physical and social environment.” At the same idea, Radebauh and Gray... the information from secondary data sources carefully such as: reading all information, limiting the needed information, classification the finding information, analyst information, and the final... engaging with stakeholders and reporting on activities These actions help managers to evaluate the advantages and disadvantages of particular strategies and implementation Managers enable to carry