MOTIVATION FOR CSR PRACTICES: EVIDENCE FROM FINANCIAL SERVICES INDUSTRY

Abstract

They could be a variety of motivations for business corporations to voluntarily engage in CSR activities. The existing literature indicates that successful and profitable corporations spent significant amount of money to actively participate in social and philanthropic programmes. Therefore, this article seeks to explore the motivations behind CSR engagement by financial services industry in Malaysia. A quantitative survey design was adopted to gather primary data from senior managers of the corporations. A total of 376 responses were collected and analysed in this study. The result shows that financial industry in Malaysia placed non-economic element as the main motive for their involvement in CSR practices.