Intangible Capital | 2026
Authors: Vuong T.K.
DOI: 10.3926/ic.3434
Journal: Intangible Capital
Year: 2026
Publisher: OmniaScience
Document Type: Article
Open Access: All Open Access; Gold Open Access; Green Open Access
Cited by: 0
Purpose: This study explains how employees’ perceptions of corporate social responsibility (CSR) initiatives influence firm performance and firm growth, via stakeholder-oriented commitment mechanisms and strategic CSR outcomes. It examines the influence of four CSR-related factors— obligation to society, obligation to customers and markets, obligation to natural environment, and economic benefit in CSR—on stakeholder relationship commitment and authentic stakeholder commitment. These commitments are assumed to impact strategic CSR satisfaction and durability, which in turn affect firm performance and growth. Design/methodology/approach: Data from 411 employees in CSR-active firms in Ho Chi Minh City were analyzed using PLS-SEM (SmartPLS 4; 5,000 bootstrap resamples). The paper fills a gap in the literature by considering employee perceptions along with CSR strategy and long-term performance, specifically in an emerging economy. Findings: CSR priorities toward customers/markets, the natural environment, and perceived economic value strengthen both stakeholder relationship commitment and authentic stakeholder commitment. In contrast, perceived obligation to society does not significantly predict authentic stakeholder commitment. These commitments enhance strategic CSR satisfaction and strategic CSR durability, which improve firm performance and growth. Research limitations/implications: The convenience sample restricts the generalizability of findings, and the sample did not include different industries and regions. Only those firms actively engaging in CSR were included, which may overlook perspectives from firms at an incipient stage of CSR implementation. The sample was concentrated within a few industries, which restricts the generalizability of results to other industries. Social Implications: The study highlights the importance of integrating CSR initiatives and considering employee perspectives to improve business performance and promote sustainable development. It determines which dimensions of CSR most strongly facilitate stakeholder involvement and trust, with a keen realization of the importance accorded by employees to perpetual sustainable development. The results from this study offer pragmatic inspiration for industry practitioners and policymakers on operationalizing CSR as a guiding principle for sustainability in emerging markets. Originality/value: The study (i) conceptualizes CSR priorities at the employee-perception level instead of as a uniform action and (ii) separates relationship commitment from authentic stakeholder commitment as different mechanisms linking CSR to strategic CSR outcomes and firm performance. The results indicate that CSR authenticity in emerging institutional contexts depends on internal institutionalization rather than symbolic compliance, contributing to the symbolic–substantive CSR debate. © (2026), (OmniaScience). All rights reserved.
Corporate social responsibility; Employee perceptions; Firm growth; Firm performance; Perceived CSR authenticity; Stakeholder commitment; Strategic CSR