Building a competitive advantage based on transparency: When and why does transparency matter for corporate social responsibility? |
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Institution: | 1. School of Management, Xi’an Jiaotong University, Xi’an 710049, China;2. Leeds University Business School, University of Leeds, Leeds LS2 9JT, UK;3. Imperial College Business School, Imperial College London, London SW7 2AZ, UK |
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Abstract: | Customers today are increasingly demanding transparency from firms. This article discusses the concept of performance transparency and explores when and why transparency plays a key role for a firm’s corporate social responsibility (CSR) effectiveness. In doing so, it addresses consumer skepticism as the logic of the transparency-CSR interaction and presents empirical evidence of the effect. It also discusses key principles for managing performance transparency effectively. Companies should monitor and track performance transparency regularly, initiate consistent transparency practices along with CSR activities, pay attention to the types of information made available, and adapt the transparency practices to the involvement level. |
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Keywords: | Corporate transparency Corporate social responsibility Consumer skepticism Customer involvement Brand signaling |
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