The role of long-term orientation, strategic planning, and family involvement in csr policies: A conceptual framework

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Abstract

Corporate social responsibility (CSR) belongs to the leading topics of management research and is closely connected to corporate long-term orientation (LTO). At the same time, family firms represent the most prevalent organizational form of business. The goal of this paper is to theoretically investigate the interplay of possible predictors of the adoption of CSR policies: long-term orientation, strategic planning, and family involvement. Based on a literature review, this paper presents a conceptual framework focusing on corporate social responsibility policies' determinants. We present five theoretical propositions, which constitute a moderated mediation model. First, we argue that the relationship between LTO and CSR is partially mediated by strategic planning. We assume that because of futurity and perseverance, a positive direct relationship exists between long-term orientation and CSR. Through futurity and continuity, long-term orientation is also assumed to positively affect strategic planning, which, in turn, also affects CSR. Furthermore, we present arguments for the fact that both relationships are moderated by family involvement. Specifically, family involvement in the firm is assumed to weaken the above relationships because of the inherent long-term orientation of family firms and their quest for protection their socioemotional wealth. The paper's main value added is that we present a bridge between the management and the family business literature by considering three components of LTO: futurity, continuity, and perseverance. Unlike many authors, we consider that family involvement is not a binary variable but rather a continuous variable, and following some authors, we also consider that it is not a predictor but a moderator. The theoretical model is applicable to all kinds of firms, ranging from firms with no family involvement to pure family firms. For each variable in the proposed model, we suggested measurement and scales which have been already validated by the existing literature. In the last part of the paper, we mentioned limitations and future research directions

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APA

Rosecká, N., Machek, O., Stasa, M., & Kubíček, A. (2021). The role of long-term orientation, strategic planning, and family involvement in csr policies: A conceptual framework. In Proceedings of the European Conference on Innovation and Entrepreneurship, ECIE (pp. 830–836). Academic Conferences and Publishing International Limited. https://doi.org/10.34190/EIE.21.015

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