Investigating the Interconnection between Environmental, Social, and Governance (ESG), and Corporate Social Responsibility (CSR) Strategies: An Examination of the Influence on Consumer Behavior

Deinera P. D. Nugroho, Yi Hsu (), Christian Hartauer and Andreas Hartauer
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Deinera P. D. Nugroho: Department of Business Administration, National Formosa University, Huwei Township, Yunlin 632301, Taiwan
Yi Hsu: Department of Business Administration, National Formosa University, Huwei Township, Yunlin 632301, Taiwan
Christian Hartauer: Department of Business Administration, National Formosa University, Huwei Township, Yunlin 632301, Taiwan
Andreas Hartauer: Department of Business Administration, National Formosa University, Huwei Township, Yunlin 632301, Taiwan

Sustainability, 2024, vol. 16, issue 2, 1-22

Abstract: The objective of this research is to develop a structural relational model that examines the relationship between environmental, social, and governance (ESG) variables and corporate social responsibility (CSR). Additionally, the study seeks to determine the impact of these factors on consumer behavior. This research endeavor included the gathering of data from Taiwan and Indonesia, with the aim of investigating the influence of ESG practices and CSR initiatives on customer attitudes and purchase intentions. The study used STATISTA 10 and LISREL to examine the impact of environmental, social, and governance practices on CSR activities. The findings indicated that the integration of environmental practices had a positive effect on CSR initiatives, but the influence of social and governance practices exhibited variability. The research emphasizes the importance of proficiently communicating environmental policies and proposes that organizations should prioritize environmental actions in order to bolster their brand and gain customer confidence. The results also underscore the need for consumer education about the ESG framework. The research closes by emphasizing the management implications, recommending that organizations should embrace a comprehensive strategy towards ESG and CSR policies in order to enhance company performance and ensure long-term sustainability.

Keywords: environmental, social, and governance (ESG); corporate social responsibility (CSR); consumer behavior (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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