THE STOCK EXCHANGE OF THAILANDS
CSR AWARD WINNERS: THEIR CSR POLICIES, JUSTIFICATIONS AND MANAGEMENT
Corporate Social Responsibility (CSR) has been a major concern among companies, especially large companies listed in the Stock Exchange of Thailand (SET). The objectives of this qualitative research are to study on CSR management structures, policies and activities of large four companies which are the SETs CSR award winners in 2011 as well as to analyze their CSR justifications and their level of involvement in the society. Secondary data were collected from various sources including their financial reports, annual reports, sustainability development reports, newspaper clippings, databases, websites, seminars, theses, newsletters and magazines. Content analysis and Porters and Kramers approach (2002, 2006 and 2011) were used as method and guideline for data analysis.
Research findings are as the following: The market capitalization of these four SETs CSR Award winners including PTT, SCC, SCB and DTAC was 12% of the total SETs market capitalization; For CSR management structures, all four companies have formed committees at either board of directors or executives levels to issue CSR policies and frameworks as well as committees at business units, functional level or foundations for implementing their CSR activities; PTTs and SCCs CSR justifications were for moral obligation, sustainability development, license to operate and reputation while SCB and DTAC were only for moral obligation and reputation; and SCBs and DTACs involvement in the society were at responsive CSR level while PTT and SCC were at both responsive and strategic CSR levels including good citizen, mitigate harms and change in value chains for environmental friendly products and services. Recommendations for large companies are to move further into strategic CSR, to integrate social dimension into their strategy and to jointly create unique value propositions that benefit both the companies and society and improve the way they think about each other.
Keywords: Corporate Social Responsibility, the Stock Exchange of Thailand, CSR Award