Family Governance and the Moral Obligation of Businesses to Serve Their Communities

  • Steffi. R Assistant Professor, Department of Electronics and Communication, Vins Christian College of Engineering, Tamil Nadu, India
  • S. Suman Rajest Professor, Bharath Institute of Higher Education and Research, Chennai, Tamil Nadu, India
  • R. Regin Assistant Professor, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Ramapuram, India
  • Shynu T Master of Engineering, Department of Biomedical Engineering, Agni College of Technology, Chennai, Tamil Nadu, India
Keywords: Corporate Social Responsibility, Family-controlled firms, Non-family-controlled

Abstract

The concept of corporate social responsibility is increasingly being embraced by businesses of all kinds and in all areas of society. The necessity of conducting an investigation on the level of Corporate Social Responsibility performance by family businesses is one of the aims of this article. Second, the purpose of this article was to investigate how well non-family businesses perform in terms of their corporate social responsibility obligations. The practise of corporate social responsibility has continued to gain ground in the business world. In the context of a company, "Corporate Social Responsibility" refers to any extracurricular endeavours that go above and beyond the company's routine operations in order to further the common good. Corporate Social Responsibility, for example, has been shown to contribute to increased stock returns, increased access to financing, increased opportunities for companies to merge, and increased opportunities for firms to reduce the cost of their capital. These findings, which have been expressed in a variety of studies, show that companies place a great deal of importance on corporate social responsibility. For example, to demonstrate how much importance companies place on corporate social responsibility, consider the following: the findings expressed in these studies show that corporate social responsibility contributes towards increased stock returns. However, only a few studies have shown that Corporate Social Responsibility is dependent on a few determinants such as regulations, characteristics of chief executive officers, political affiliations, as well as national institutions; the study adopted questionnaire instruments to collect primary data through a survey approach from respondents from family-controlled and non-family-controlled companies. According to the data, family-controlled businesses had a poorer performance in terms of corporate social responsibility than non-family-controlled businesses.

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124. Regin, D. R., Rajest, D. S. S., T, S., G, J. A. C., & R, S. (2022). An Automated Conversation System Using Natural Language Processing (NLP) Chatbot in Python. Central Asian Journal Of Medical And Natural Sciences, 3(4), 314-336.
125. Rajest, S. S. ., Regin, R. ., T, S. ., G, J. A. C. ., & R, S. . (2022). Production of Blockchains as Well as their Implementation. Vital Annex : International Journal of Novel Research in Advanced Sciences, 1(2), 21–44.
126. T, S., Rajest, S. S., Regin, R., Christabel G, J. A., & R, S. (2022). Automation And Control Of Industrial Operations Using Android Mobile Devices Based On The Internet Of Things. Central Asian Journal of Mathematical Theory and Computer Sciences, 3(9), 1-33.
127. Jerusha Angelene Christabel G, Shynu T, S. Suman Rajest, R. Regin, & Steffi. R. (2022). The use of Internet of Things (Iot) Technology in the Context of “Smart Gardens” is Becoming Increasingly Popular. International Journal of Biological Engineering and Agriculture, 1(2), 1–13.
128. R. Steffi, G. Jerusha Angelene Christabel, T. Shynu, S. Suman Rajest, R. Regin (2022), “ A Method for the Administration of the Work Performed by Employees”, Journal of Advanced Research in Dynamical and Control Systems, Vol.14, no.1, pp. 7-23.
129. R. Regin, Steffi. R, Jerusha Angelene Christabel G, Shynu T, S. Suman Rajest (2022), “Internet of Things (IoT) System Using Interrelated Computing Devices in Billing System”, Journal of Advanced Research in Dynamical and Control Systems, Vol.14, no.1, pp. 24-40.
130. S. S. Rajest, R. Regin, S. T, J. A. C. G, and S. R, “Improving Infrastructure and Transportation Systems Using Internet of Things Based Smart City”, CAJOTAS, vol. 3, no. 9, pp. 125-141, Sep. 2022.
131. Regin, R., Rajest , S. S., T , S., G, J. A. C., & R , S. (2022). An Organization’s Strategy that is Backed by the Values and Visions of its Employees’ Families. Central Asian Journal of Innovations on Tourism Management and Finance, 3(9), 81-96.
132. Regin, R., Rajest, S. S., T, S., Christabel G, J. A. and R, S. (2022) “The Influence that the Advertising of Pharmaceuticals has on the Economy”, Central Asian Journal Of Social Sciences And History, 3(10), pp. 1-18.
133. Regin, R., Rajest, S. S., T, S., G, J. A. C., & R, S. (2022). Pharmaceutical Supply Chain Challenges and Inventory Management. Central Asian Journal of Innovations on Tourism Management and Finance, 3(10), 143-159.
134. R, S., Regin, R., Rajest, S. S., T, S. and G, J. A. C. (2022) “Rail Project’s Needed Project Management Approaches, Strategies, Methodologies, and Processes”, International Journal on Economics, Finance and Sustainable Development, 4(10), pp. 109-126.
135. Regin, R., Rajest, S. S., T, S., & R, S. (2022). Impact of Internet Banking on the Efficiency of Traditional Banks. Central Asian Journal of Innovations on Tourism Management and Finance, 3(11), 85-102.
136. Rajest, S. S., Regin, R., T, S. and R , S. (2022) “The Effect of Corporate Social Responsibility on Organizational Effectiveness”, Central Asian Journal of Innovations on Tourism Management and Finance, 3(11), pp. 125-144.
137. R, S., Rajest, S. S., Regin, R., & T, S. (2022). The Obstacles Facing Businesses that are Run by their Families as their Primary Owners. Central Asian Journal of Innovations on Tourism Management and Finance, 3(11), 145-163.
138. T, S. ., Regin, R. ., Rajest, S. S. . and R, S. . (2022) “Investigating the Style of Gender Leadership: Male and Female Leadership and Management Style”, International Journal of Development and Public Policy, 2(11), pp. 1–17.
139. Rajest, S. S., Regin, R., T, S. and R, S. (2022) “Organisational Dedication, Employee Contentment on The Job, And Plans to Leave the Organization”, Central Asian Journal Of Mathematical Theory And Computer Sciences, 3(12), pp. 5-19.
140. Priscila, S. S., Rajest, S. S., T, S. and G, G. (2022) “An Improvised Virtual Queue Algorithm to Manipulate the Congestion in High-Speed Network”, Central Asian Journal of Medical and Natural Science, 3(6), pp. 343-360.
141. Rajest, S. S., Regin, R., T, S. and R, S. (2022) “Strategic Leadership And Alignment Affect Organisation Performance”, Central Asian Journal Of Mathematical Theory And Computer Sciences, 3(12), pp. 248-266.
142. R, S., Rajest, S. S., T, S., & Regin, R. (2023). The Effects of Effective Management of Human Resources on The Overall Performance of An Organization. Central Asian Journal of Mathematical Theory and Computer Sciences, 4(1), 1-20.
143. Regin, R., Rajest, S. S., T, S., & R, S. (2023). Human Resource Perspective and Pitfalls at Work. Central Asian Journal of Innovations on Tourism Management and Finance, 4(1), 31-49.
144. T, S., Rajest, S. S., Regin, R., & R, S. (2023). Effect Of Working Environmental Employee Satisfaction On Organizational Performance. Central Asian Journal Of Mathematical Theory And Computer Sciences, 4(1), 29-48.
145. Regin, R., Rajest, S. S., T, S., & R, S. (2023). An Analytical Study of Development in Response to the COVID-19 Pandemic. Central Asian Journal of Medical and Natural Science, 4(1), 199-216.
146. Regin, R., Rajest, S. S., T, S., & R, S. (2023). A Review of Secure Neural Networks and Big Data Mining Applications in Financial Risk Assessment. Central Asian Journal of Innovations on Tourism Management and Finance, 4(2), 73-90.
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Published
2023-02-21
How to Cite
R, S., Rajest, S. S., Regin, R., & T, S. (2023). Family Governance and the Moral Obligation of Businesses to Serve Their Communities. International Journal on Orange Technologies, 5(2), 60-77. Retrieved from https://journals.researchparks.org/index.php/IJOT/article/view/4023