CORPORATE SOCIAL RESPONSIBILITY: THE INFLUENCE OF THE SILVER BOOK

Abstract

Corporate Social Responsibility (CSR) encompasses wide range of terms and the concern varies from business to business. It has passed the traditional issue of philanthropy. It goes beyond that. The focus is not limited to people or society only but it covers wide areas like environmental excellence, human rights and other issues that organization must integrate into their core business. In Malaysia, Bursa Malaysia developed the Corporate Social Responsibility (CSR) Framework for Public Limited companies. This was followed by the Silver Book (CSR standards) which the government introduced as part of Transformation Program (ensuring advancing Malaysia’s development) for the Government-Linked Companies (GLCs). The objective is to promote corporate best practices and provides guidelines for companies to incorporate corporate responsibility as an integral part of their corporate strategy and core business. GLCs as corporate sector in the country and the engine of economic growth must lead the way towards achieving domestic growth and investment (Badawi, 2005). What is the Silver Book? How is the focus of the Silver Book? The Silver Book is a set of principles and guidelines describe how GLCs can contribute and becoming responsible citizens and create value for their business and society. This study attempts to examine the acceptance level of the Silver Book among the GLCs, evaluates and understands the role of the Silver Book in influencing the CSR practices in GLCs and analyse the level of implementation of CSR and suggest recommendation for future research.