CORPORATE SOCIAL RESPONSIBILITY IN VIETNAM; A STUDY OF ITS IMPORTANCE

B Y PHAM THUY LY E0700048

BACHELOR OF BUSINESS (ACCOUNTING) HONS HELP UNIVERSITY COLLEGE

MARCH 2011

DECLARATION OF ORIGINALITY AND WORD COUNT

I hereby declare that the graduation project is based on my original work except for quotations and citations which have been duly acknowledged. I also declare that it has not been previously or concurrently submitted for any other course/degree at Help University College or other institutions. The word count is 10,758 words.

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_____________________ Pham Thuy Ly 28 March, 2011

ACKNOWLEDGEMENT
This project would not have been made possible without the assistance, support and encouragement of many people. I wish to take this opportunity to thank all the people who have helped me during the time of completing this study. I would like to express my deep gratitude to my supervisor Dr. Le Van Lien, International School, Vietnam National University Hanoi. He has kindly helped me and supported me all the way through. I also would like to express my thank to Ms. Sumathi and Ms. Shenba, Help University College, who initiated the project and give so much instruction and support. Additionally, I also would like to extend my special thanks to managers, accountants, my friends, and other people who have help me to carry out the survey. I want to thank them for all their support, interest and valuable hints. PHAM THUY LY

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CORPORATE SOCIAL RESPONSIBILITY IN VIETNAM; A STUDY OF ITS IMPORTANCE

By PHAM THUY LY March 2011 Supervisor: Dr. Le Van Lien

ABSTRACT CSR is currently an important and necessary issue for everyone and business organizations in the world, as well as in Viet Nam. CSR concept has been developed for several decades in the world, but in Viet Nam, it is not popular for all people and companies. Especially, Vietnamese economy has been integrated with global economy, and then CSR has become more important issues for business to develop sustainably and competition with internal and external partners. In order to develop CSR concept and disclosure further, perception on CSR of stakeholder groups is a unique factor. This study aims to discover how organization view CSR and CSR issues, whether behavior or attitude of managers business organization and consumers, as well as accounting students toward CSR. The results of the study suggest that there is strong support for CSR from managers and a growing awareness among consumers and accounting students. Nevertheless, there is expectation gap between how people perceive and how people act because there are lack of adequate CSR disclosure from firm, and not-so-

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enthusiastic support actions from consumers due to the barriers in living expenses, and low effective CSR communication tools that companies use. However, with highly positive attitude toward CSR and the willingness to learn about CSR of people, CSR concept and practice will be popular and developed further in the future.

TABLE OF CONTENTS DECLARATION OF ORIGINALITY AND WORD COUNT ACKNOWLEDGEMENT ABSTRACT TABLE OF CONTENTS LIST OF FIGURES 1. INTRODUCTION 1.1 1.2 1.3 1.4 2. Idea for Corporation Social Responsibility CSR in the world CSR in Vietnam The reason for conduct this research i ii iii iv v 1 1 2 3 4 5 5 6 6 9 11 13
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LITERATURE REVIEW 2.1 The definition and conceptualization of CSR

2.1.1 Zeniseks conceptualization (1979) 2.1.2 Carrolls conceptualization (1979) 2.1.3 Wood 1991 conceptualization 2.2 2.3 Stakeholder theory Social accounting

2.4 2.5

CSR reporting Hypothesis

15 17 17 18 20 22 22 22 22 23 23 24 24 25 25 25 25 26 26 27

2.5.1 Managers perception on CSR conceptualization 2.5.2 Consumers perception on CSR conceptualization 2.5.3 Accounting students perception on CSR conceptualization 3. RESEARCH METHODOLOGY 3.1 3.2 3.3 Research objective Applied research methodology Data source

3.3.1 Primary data source 3.3.2 Secondary data 3.4 3.5 3.6 3.7 Research method Research tool Data collection Sampling

3.7.1 Sample population 3.7.2 Sample entity 3.7.3 Sample size 3.8 4. Language in questionnaire

FINDINGS AND ANALYSIS

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4.1 4.2

Findings Result analysis

27 28 28 28 30 31 32 32 34 36 36 36 38 39 39 40 40 42 43 45

4.2.1 Management 4.2.1.1 Result of managers questionnaire survey 4.2.1.2 Discussion 4.2.1.3 Conclusion 4.2.2 Consumers 4.2.2.1 Result of questionnaire survey 4.2.2.2 Discussion 4.2.2.3 Conclusion 4.2.3 Accounting students 4.2.3.1 Result of questionnaire survey 4.2.3.2 Discussion 4.2.3.3 Conclusion 4.3 5. Implementation

CONCLUSION 5.1 5.2 5.3 Conclusion Recommendation Limitation of study

REFERENCES

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APPENDIX: QUESTIONNAIRE

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LIST OF FIGURES
Figure 2.1. A hierarchy of CSR (adapted from Carroll, 1991) ....................................................... 8 Figure 2.2. The CSP Model (adapted from Wood, 1991)............................................................. 11 Figure 4.1. Respondents................................................................................................................ 27 Figure 4.2. Distribution of responses from management survey .................................................. 28 Figure 4.3. Distribution of responses from consumer survey ....................................................... 32 Figure 4.4. Distribution of responses from accounting student survey ........................................ 36

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CHAPTER I: INTRODUCTION
1.1. Idea for Corporate Social Responsibility

In recent time, CSR concept is not new to people in over the world. CSR is concerned by not only enterprises, but also relevant parties, and stakeholders (stakeholder is the people are directly affected by the business operation). In the past, most of firms only concern for profit maximize wherever their factories caused some negative effects on environment and local citizen around their location. However, this attitude has been changeable, as most of firms need to care about their responsibilities toward society. This is also the foundation for appearance the concept of CSR that is the way business balance between their operations and their effect on environment and society. In other words, managers also take strategies to meet the expectations of shareholders and stakeholders relating to their attitude toward society. The key word of this concept is Social Responsibility including organizations interaction with environment and organization s treatments for employees also. Based on concentration on CSR, managers expect that they will involve their firms into sustainable developments. For more clear understanding about the concept of CSR, the following parts will provide more detailed information about CSR in the world, the fact of CSR in Vietnam, and the reason for conduct this research.

1.2.

CSR in the world

As mentioned above, most firms focus on CSR strategies in their operations. Besides financial reports, they also concern about CSR report. CSR report or we call Sustainability report is the strategic tool help managers evaluate what they done to meet stakeholders expectations, and what they need to improve better stakeholders expectations. Sustainability reports are not new and this type of report is published by over two-thirds of the Fortune Global 500 companies. Sustainability reports also help manager evaluate the economic and social performance (http://www.environmentalleader.com). We know some reputation corporation that issued its CSR reports every year such as: Philips Electronics, Facility Service Company ABM, Coca-Cola, Dell, and Hitachi Most of firms tried to conduct some strategic methods to improve the quality of its CSR report every year. We just look at some examples including: Philips Electronics, Toshiba Groups. Philips Electronics always focus on in its carbon footprint. Between 2009 and 2010, this corporation also reduced this element by seven percent, and increased operational energy efficiency by six percent. In addition, green innovation has been invested of 450 million for the purpose of improve CSR toward society (www.environmentalleader).Another example comes from Toshiba Group. This group has issued CSR Report 2010 in which Toshiba Group strives to act with the highest level to protect environment and solves the social issues facing by this corporation (http://www.toshiba.co.jp). Besides that, Toshiba focus on the third party commends on the CSR 2010, as well as getting CSR Report back issues. Doing that, Toshiba Group s managers can learn from the existing issues and improve their responsibility toward the society. There are two of many examples relating to corporations that focus on CSR and pursue sustainable development.

1.3.

CSR in Vietnam

The word CSR was appeared in Vietnam for long time; nevertheless Vietnamese citizen and Vietnameses enterprises do not understand it completely. More detail, through twenty six (26) Vietnamese Accounting Standards, we have no any Vietnamese Accounting Standard mentions the necessity of conducting CSR Report or Social accounting; whereas most of the international firms involve the social accounting system in its report system. However, in recent year, Vietnamese government has taken some significant steps to raise the awareness of business men. Vietnamese government also set up some forum about CSR to educate most business should act in stakeholders perspective. This is shown that Vietnam is trying to make CSR as an important factor in sustainable development. Not only Vietnamese corporations, but also international corporations in Vietnam have to care about their stakeholders when they conduct their business operations. Besides that, Vietnam set up the CSR awards in order to improve organizations operating in Vietnam territory to improve their responsibilities toward society. Vietnamese government made some detail plan and strategy and projects concerned in CSR based on its resources such as working conditions, safety, hygiene, environment, quality and productivity, labor relations and manpower resources management (http://www.bpsc.com.vn). Nevertheless, we face some interferences and challenges in developing CSR in Vietnam, such as: the concept of CSR is not still updated to most of the Vietnamese businessmen circles. The concerned sides do not identify long term plan and strategy to conduct the programs of CSR in practice. On the other hands, this is lack of companies management ability and professional knowledge in concept of CSR.The topic of CSR becomes the burn topic when we found that pollution for Thi Vai River from Vedan Vietnam Corp. This river is polluted seriously by untreated wastewater, and this caused the bad effects on the local people (http://english.thesaigontimes.vn).Another aspect of CSR violation in Vietnam is issue relating to labor standards. Most of Vietnams labor are paid
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with the low cost and treated unfair by both of private domestic and foreign-invested enterprises. According to Ho Chi Minh City LA our officials, Vietnamese labors are dealing with the serious violations of the Vietnamese Labor Law that increasing continuously. Besides that, one report on May 26 showed that thirty four domestic and foreign-invested limited companies revealed numerous violations related to labor contracts, payment policies, overtime hours, annual leave, and pregnancy and sick leave (http://www.csr-asia.com).These examples again dedicate that it is the time for Vietnam government and Vietnamese relevant parties need to improve completely knowledge about CSR, as well as define some solution for CSR violations happening in Vietnam, contribute to strategy for sustainable development.

1.4.

The reason for conduct this research

As we know, after Doi moi policy in Vietnam in 1986, Vietnam developed rapidly. Moreover, Vietnam has joined World Trade Organization (WTO) shows evidence for Vietnam need to pursue strategies for sustainable developments in long term. The research is conducted with purpose of improvement CSR knowledge for managers, consumers, and accounting students. Managers need to know clearly the overall picture of CSR to act in the effective way, whereas stakeholders need to know how the CSR support for their life from the bad effect of business operations. More importance, accounting students, they need to aware about the concept in CSR as they will be the future general develop country better.

CHAPTER 2: LITERATURE REVIEW

2.1The definition and conceptualization of CSR
For past few decades, an examination of literature on CSR continues to be an interesting issue for researchers and academics. Over the last three decades, many academics and economic consultants have debated finding the definition of social responsibility of doing business. Two decades ago, Neli Chamberlain( 1953) defined social responsibility in terms of action that the leadership in business and unions are expected to take with the respect to their following in a given situation as mater of right, whether legal or non-legal. Against the feature of Chamberlains definition, William Frederick (1960) expressed that social responsibility is not simply to narrow benefit and interest of individual persons or companies that is to combine of human and economic resources for social benefits. Philip Klein (1978) explains the meaning of social responsibility as relating to internal and external organizational problems. In which, internal problems are stockholders and labors rights while external problems are responsibilities dealing with the affect of the products or services on the community, the relationship among firm and society. The above discussion of different authors leads to one conclusion that any definition of phenomenon of corporate social responsibility must involve the relationship between social ideology and business ethic in both ideological and operational aspects. (Zenisek J,1986). Nevertheless, the developing definition of CSR is complex process because it could understand different meaning to different stakeholder groups. For example, shareholders could define CSR is maximization of profits or high earnings. To customer CSR may mean high quality product or services at a good price and perhaps ethical behavior.

In this paper, there are three studies which are introduced including Zenisek (1979); Carroll (1979) and Wood (1991).

2.1.1 Zeniseks conceptualization (1979) In 1979, Zenisek (University of Calgary) proposed that corporate social responsibility is conceptualized as the degree of fit between societys expectations of the business community and the ethics of business. There are two components in this fit which are behavioral and attitudinal. The first component is the fit between social expectations and firm s actions. Thus, the first component of social responsibility is what a business does in relation to what society expect to do. The second component is attitudinal which is fit between social expectations and what a business managers regard to be legitimate societal demands. This component represents ideological aspect of the firm s ethics.

2.1.2

Carroll's CSR model (1979)

Carroll s model in 1979 perhaps the most oft-cited definition of corporate social responsibility. Carrolls CSR model contains four categories of corporate responsibility arranged from most to least important including economic, legal, ethical and philanthropic. Firstly, according to Carrolls model, all business responsibilities are based on the corporation s economic responsibility. It indicates that business organization s principal role provides product or services what customers need and want and making acceptable profits in the process. In other words, before business organization was anything else, it was the basic

economic in the community. The motivation of profit was considered as the primary motivator for companies. Secondly, legal responsibility is principal expectation of society to business that include implying with laws and regulations issued by federal, state and local governments as ground rules which business must operate. Besides that, business and society firms are expected to pursue their economic missions within the legal framework of the law as a partial fulfillment of the social contract. In other concept, legal responsibility reflects a view of codified ethics that embody basic notion of fair operation. Third part, ethical responsibilities combine those standards, norms, or expectations that reflect a concern, for what consumers, employees, shareholders, and the community regard as fair, just, or in keeping with the respect or protection of stakeholders' moral rights. In another sense, ethical responsibilities may be seen as newly emerging values and norms society expects business to meet, even though higher standard of performance of such values and norms. Besides that, ethic responsibility is important to perform in a manner consistent with expectations of societal mores and ethical norms or to recognize and respect new or evolving ethical moral norms adopted by society. Finally, philanthropic responsibilities encompass those corporate actions in respond to societys expectation to make companies to be good corporate citizens. For example, those activities are business contribution of finance resources or executive time to art, education or the community. The different feature between philanthropic and ethical responsibilities is that societys expectation is based on ethical or moral sense. In other word, communities expect companies to provide their money, facilities, and employee time to humanitarian programs. However, firms are regarded as ethical if it does not satisfy the desired level. Therefore, on

the part of business, philanthropy responsibility is more discretionary or voluntary even through businesses always provide societal expectation.

Figure2.1: Carroll (1991) CSR Pyramid There is no research or study to be exact and conceptualization CSR model of Carroll is the same situation. Carroll s conceptualization is either a durable or useful model for defining and exploring CSR. However, this model has some lacking of conceptual clarity and questions about its descriptive accuracy, especially in different cultural contexts. Secondly,
it is very simplistic and static, failing to capture the complexity of CSR in practice. Besides

that, definition of CSR/CSP in this model domains but not the nature of responsibility or performance (Wood, 1991).

2.1.3

Wood 1991 conceptualization

Wood (1991) took similar approach concepts of corporate by proposing a conceptual model social responsibility. Corporate social performance or CSR is defined more completely than Carrolls once as: a business organizations configuration of principles of social responsibility processes of social responsiveness, and policies, programs and observable outcomes as they related to the firms societal relationships (Wood, 1991). Wood (1991) argued that business and society are interwoven rather than distinct separate entities. Hence, society has certain expectations of business behavior and outcomes with regard to business. These expectations can be divided into three groups with corresponding principles (figure 2.2). The first group includes expectations of all businesses because their roles play as economic institutions. The principle that applies to institutional level of analysis is that of legitimacy. The principle of legitimacy is to concerns business as a social institution and frames the analytical view of the inter-relationship of business and society. This principle is based on the premise that society gave business its charter to exist, and that charter could be amended or revoked at any time that business fails to live up to society's expectations. (Davis & Blomstrom,1971). The second group expectations are placed in individual firms. This principle is for organizational level of analysis that the principle of public responsibility applies. According to this principle, Wood (1991) states that businesses do not have responsibility to solve all social issues but they are responsible for their stakeholders and to solve problems related to their activities that they have caused and they are responsible for helping to solve problems and social issues related to their business operations and interest. The third group of expectations relates to the manager as a moral agent. It is for individual level of analysis that is of managerial discretion. This principle is based on that managers
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exist in an organizational and societal environment that is full of choices, their actions are not totally prescribed by corporate procedures, formal job definitions, resource availabilities, or technologies. They are moral actors on the job as well as in other domains of their lives (Wood, 1991). This principle states that business s managers face ethical concern when they make decisions. Basing on this principle, society expects managers to focus both on the companies interests and on the implications that their decisions have for society. In general, business organizations adopt their social responsibilities on above three levels that will contribute to environmental improvement and sustainable development and will enjoy consumer loyalty, as well as improving human resources management. These principles state that responsibility of organizations is for their primary and secondary areas of involvement with society and that managers are moral actors obliged to exercise such discretion as is available to them, toward socially responsible outcomes. (Wood, 1991) Furthermore, Wood (1991) also suggests that companies use three main of processes to apply these principles into practice: environmental assessment, issues management, and stakeholder management. In the process of CSP model, Wood presents the outcomes of bringing principles into practice within the economic, legal, ethical, and discretionary domains, categorizing them in terms of social impacts, social programs, and social policies. In the contrast, there are some limitations of Wood principle of CSR. The first limitation Wood (1991) acknowledged is that terms such as legitimate functions, obligations, and social well-being are neither universal nor absolute in their meaning; they are time and culture bound. It implies that a firm may have different responsibilities in different countries and at different points in time. A second limitation is that these principles are defined variously by relevant stakeholder groups even within a specific time and culture, concepts. As result, a
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firm may face conflicting expectations. A third limitation is that organizational and individual-level concepts including options, opportunities, constraints, and choices are bound by different conditions and perceptions among organizations and people. Due to these limitations, Wood (1991) concludes that the principles of CSR should not be thought of absolute standards, but as analytical forms to be filled with the content of explicit value preferences that exist within a given cultural or organizational context and that are operational zed through the political and symbolic processes of that context. Figure 1.2 Corporate Social Performance Model (Wood, 1991) Principals of corporate social responsibility Institutional principal: legitimacy Organizational principal: public responsibility Individual principal: managerial discretion Processes of corporate social responsiveness Environmental assessment Stakeholder management Issues management Outcomes of corporate social behavior Social policies Social programs Social impacts

2.2 Stakeholder theory

The term stakeholder is now popular word for most executives. The term implies various stakeholder groups who can affect or be affect by the organization s activities. Freeeman (1998) defines stakeholders as groups and individuals who benefit from or are harmed by, and whose rights are violated or respected by, corporate actions. Stakeholders include
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creditors, employees, customers, suppliers, and the communities at large. Hence, stakeholders legitimacy and power are influenced on the firm. For CSR perspective, their legitimacy may be the most important. Hence, the concept of stakeholder personalizes social and society responsibility should consider in CSR orientation (Carroll, 1991). Deegan and Unerman (2006) states that more correctly, the tem stakeholder Theory as an umbrella term that actually represents a number of alternative theories that address various issues associated with relationship with stakeholders, including considerations of the rights stakeholders the power of stakeholders or the effective management of stakeholders In other research, Jones and Wicks (1999) attempts to discuss the current state of stakeholder theory which are summarized as following. First, the corporation has the relationships with many stakeholder groups who can affect and can be affected by its decisions. Second, the nature of these relationships in term of both processes and outcomes for the firm and its stakeholders are main purpose of theory. Third, the interests of all stakeholders have intrinsic value and no set of interests is assumed to dominate the others. Last, stakeholder theory focuses on managerial decision making. There are two branches of Stakeholder Theory namely ethical branch (moral) and the positive (managerial) branch (Deegan 2009). Under the ethical perspective, business organization must treat fairly all stakeholder groups by their right and business s managers should operate organization for the benefit of all shareholders. Due to companies moral obligations, hence, they will expose information to their shareholders. In the contrast, the managerial perspective of stakeholder theory attempt to distinguee that corporate disclosure is driven by the level of power or control which are obligated by the specific stakeholder groups over the firms resources. And so, corporate management will attend to focus on expectations of particular stakeholder groups (Freeman, 1984).
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Donaldson and Preston (1995) defined three themes in their formulation of a stakeholder theory of the firm. First, this theory is descriptive in which it describes a corporation as interacting with a wide range of groups with different interests and demand. Second, this theory is instrument that provides a basic for exploring a relationship between a firms CSR activities and other corporate performance parameters such as profitability, revenue, return on investment. Third, stakeholder theory is normative which recognizes that groups other than shareholders, employees, suppliers and customers who may not have contractual relationships with the firm but they are also legitimate stakeholders. In contrast, there are some problems with this theory. First limitation is its static character. The considering multilateral construction of relationships among an organization and its stakeholders are essential. However, stakeholder theory is not well filled out to account for the dynamics of multilateral stakeholder interaction. The second limitation concerns the role specified to stakeholders in the theory. The aim of an organization is both management of the relationships with its stakeholders and reaching specific goals, taking into consideration their presence and the influence they can exert on the decision-making process. Hence, stakeholder theory should expand specific stakeholder groups, not only concentrated on managers. Third limitation is the bias of this theory towards the implicit assumption that stakeholders constitute homogeneous groups.

2.3 Social accounting

Social accounting began developing in the UK in the early 1970s. At that time, the concept of social accounting accepted by a most cited paper by Mobley (1970): social accounting refers to the ordering, measuring and analysis of the social and economic consequences of governmental and entrepreneurial behavior. So defined, social accounting is seen as
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encompassing and extending present accounting. Gradually, social accounting has shifted to a broader range of societys concern. Quarter, Mook and Richmond( 2003,p.3) defined social accounting as a systematic analysis of the effect of an organization on its communities of interest or stakeholder, with stakeholder input as part of the data that are analyze for the accounting statement. This definition is consistent with others in the field (Estes, 1976, Gray, Owen and Adam, 1996, Institue of Social and Ethical Accountability, 2001; Mathews and Perera, 1995). The purpose of social accounting are identifying and measurement the net social contribution of an organization; second, determining whether the individual firm s strategies; third, making available in an optimal manner, relevant information about companys goals, programs (Quarter, Mook and Richmond 2003). This study claims that there are two constituents in social accounting including social cost and social benefit. In which, social costs are sacrifice of the society whether internal or external economic, in which the business firm is responsible like environment pollution, destruction of animal resource, deforestation, monopoly and social losses, ect. Whilst social benefit is compensation made to the society in the form of increase in per capital income, development of educational facilities, construction of public roads, and protection of natural resources, employment opportunities. Hence, social cost-benefit analysis is considered to measure corporate social performance. Objective of traditional accounting is only record all affects of actions upon organization itself. As a consequence, organizations take activities significantly and to be recorded while other activities are seemed as irrelevant and ignored. Traditional accounting remains concentrated on the activities of the organization and dismisses the affects of the organization over its external environment (Crowther and Hosking, 2009)... Since 1970s a larger number of researchers had argued that one of the roles of accounting should be to report on the

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impact of external environment. In the side of economic view, accountability considers the social performance of a business as a member of society at large. Historically, social accounting was concerned with local communities, employees, consumers and environmental issues. Nowadays, awareness is raised regarding issues such as fair trade, transfers of wealth, trade with repressive regimes among developing and developed countries. Social accounting extends to other issues including unsafe products and work places, cost padding and fraud in defense contracting.

2.4 CSR reporting

Silberhorn and Warren (2007) examines that CSR means different thing for whether managers from different countries. Data on CSR reporting is obtained using content analysis on the companys websites. Annual reports are used for measuring disclosure but they do not provided correct all respect of CSR activities within organizations ( Unerman, 2000; Holland and Foo, 2003). It is because literature documented significant use of company websites in CSR reporting. For example, various factors such as the development level of country, globalized process, and national business system lead to homogeneous of CSR (Chapple and Moon (2005). Hence, CSR website reporting varies between different countries. Similarly, Frost et al. (2005) also find that the annual report is the least valuable source of information on CSR. The CSR stand-alone report and websites provide greater levels of information on CSR. In a feminine society, CSR reporting is expected to be better in terms of quality and extent, as opposed to a masculine society because this society puts more attention on social goals such as relationships, helping others and the physical environment (Hofstede,2001).Hence, Van

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Der Laan Smith et al. (2005) finds that culture is inferred as important in explaining the variations of quality and extent of CSR reporting. CSR reporting brings some benefit firms. First, this report help enhance stakeholder relations and credibility by meeting rising expectation for disclosure and transparency. Secondly, it also protects and improves the brand image of company, dismissing possible negative campaign and upgrading the company image. Third, companies may use reporting as internal communications, educating and motivating employees. In responding to a growing demand for socially responsible investment, reporting provides for better accessibility to capital market. Based on the arguments by Van der Laan (2004) and Wooward et al. (1996), reports can be made into three different types CSR including mandatory, solicited or voluntary. Mandatory reporting is issued by state for protecting citizens and ensuring the provided appropriate information (Doane, 2002). Solicited reporting gains slowly social acceptance, then it is still underdeveloped form. The core of solicited reporting is to provide information which is issued by a particular stakeholder group (Van der Laan, 2004). Voluntary reporting is the most recognized form of reporting. Dierkes et al. (2002) identify several problems facing the company when preparing the CR report: the problems of quantifying, limiting, measuring, and evaluating. It is difficult to find operational definitions and practical indicators, suitable methods and information techniques. Comparing data may turn out to be impossible. Several international standards and guidelines that have been adopted by companies in reporting their CR activities are GRI, AA1000, and UNGC. First, the Global Reporting Initiative (Hopkins, 2003; Owen, 2003) developed in 1997 by the Coalition for Environmentally Responsible Economies (CERES) in cooperation with the United Nations
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Environment Program (UNEP). The mission of GRI is the Global Reporting Initiative. The aim of this standard is to provide reporting guidelines for the content of sustainability reports covering economic, social and environmental factors of an organization. Second, the United Nations Global Compact (UNGC) is an international initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on them. UNGC is aimed at bring together companies, UN agencies, labor organizations and civil society in support of 10 principles covering human rights, labor, the environment, and corruption. Third, Accountability AA1000 assurance standard has also been introduced by the Institute for Social and Ethical Accountability (ISEA) (Owen, 2003). AA1000 is seemed as a foundation standard which comprises principles and a set of process standards. Moreover, there are several other international standards and such as code of product (e.g., OECD Guidelines, ILO Declaration), Management standards (e.g., SA8000; ISO 14000), Screenings and rankings (e.g., Dow Jones Sustainability Index, FTSE4Good).

2.5 Hypothesis
2.5.1 Managers perception on CSR conceptualization

Comparing relationship among stakeholders, corporate managers played a unique role in business organization. Based on stakeholder- agency theory, managers provide the firm with time, skills and human capital conditions. Managers are unique role of management because of their position at the nexus of contracts. This theory states that Managers are the only group of stakeholders who enter into a contractual relationship with all other stakeholders. Managers are also the only group of stakeholders with direct control over the decision making process of the firm (Hill and Jones (1992)

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Executive and managers of organizations make decision and plans for CSR programs. Wood (1991) states that: A companys social responsibilities are not met by some abstract organizational actor; they are met by human actors who constantly make decisions and choices, some big and some small, some minor and others of great consequence. Hence, Wood concludes the basis for a situational relationship between managers and their organizations that managers exercise discretion within the context of an organizations definition of public responsibility. Furthermore, CSR reporting can be obstructed if managers lack knowledge and experience on management, practicing CSR, understanding how the CSR goals and reporting practices can be integrated into strategic planning process, choosing a reporting framework. Besides, behavior of manager on CRS is impacted by their general feelings in the society. Normally, societys expectations reply on firm s social responsibilities which are decided by managers actions toward CSR. Therefore, we can confident to assume that managers behavior toward CSR is positive influence on CSR practice of organizations. The following hypothesis is developed: Assumption 1: Managers behavior toward CSR is to influence positively on CSR practices.

2.5.2

Consumers perception on CSR conceptualization

Maignan (2001) defines consumers perception of CSR as differentiate between corporate economic responsibilities on one hand and corporate legal, ethical, and philanthropic responsibilities on the other hand. She also seeks that consumers distinguish these same four components but that they regard the economic component as fundamentally different from other components including legal, ethical, and philanthropic components.
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Consumers concerns not only simply quality of product at low price, but also expecting organizations to demonstrate congruence with some social values as contribution to the community (Handelman and Arnold, 1999). It is because consumers are not only economic beings but also members of a community. They can choose to evaluate a company based on whether the organization acts in consistence with the welfare of the community and society. Consequently, they can be willing to offer their support for socially responsible companies (Bhattacharya, Rao and Glynn, 1995).Hence, Consumer knowledge of a firm's CSR initiatives may lead to a higher evaluation of the company and a more positive evaluation of the company's product (Brown & Dacin, 1997). Moreover, consumers increase expectation business to go beyond delivering economic outcomes and also contribute to societys welfare and sustainability by being socially responsible. Consumer will support to business if they also do so (Dawkins 2003).Therefore, pro-social marketing initiatives as CSR claims that become a market specialize strategy, building brand equity and leading to customer loyalty and other positive post-purchase outcomes (McWilliams and Siegel, 2001, Hoeffler and Keller, 2002, Bhattacharya and Sen, 2003). And consumer knowledge and commitment of a firm's CSR initiatives may lead to a higher evaluation of the company and a more positive evaluation of the company's product (Brown and Dacin, 1997). Before consumer consider a firms CSR initiatives in order to make their purchasing decisions. They must be not only aware of those initiatives, but also aware of social issues that firms are engaging in ( Maignan 2001). As the result, consumers' personal support, and awareness for a CSR domain to be a key determinant of their sensitivity to a company's CSR efforts ( Sen and Bhattacharya,2001). According to above discussion, there is reasonable to assume that behavior of consumer toward companys CSR practices is confident

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Assumption 2: Behavior of consumer toward company CSR practices and disclosures is positive.

2.5.3

Accounting students perception on CSR conceptualization

Radebauh and Gray (2002) emphasise that CSR refers toaccountability to society as a whole with respect to matters of public interest such as community welfare, public safety, and the environment. Besides that, Gray et al (1996) considers CSR as a mean by which an organization can discharge what they view as its social accountability. Hence, He/she defined the term accountability as the duty to provide an account (by no means necessarily a financial account) or reckoning of those actions for which one is held responsible. In other term, Crane and Matten (2004) defines corporate accountability has also been recently referred to whether a corporation is answerable in some way for the consequences of its actions. Therefore, in finance function, accountant may face social responsibility in everything from investment appraisal to environmental accounting. Concept of accounting is social and not limited to economic issues (Williams, 1987). Hence, responsibility of accountant provides information for the needs and interest of society at large. In order to follow this concept, practicing accountants, especially accounting students should understand needs and interest of society. Furthermore, Ijiri (19830 state that accountability is predicated in the right-to-know which mean all stakeholders have right to get business information such as legal, financial, social activities. Accountability is based on the principle show me, rather than just trust me (Zairi and Peters, 2002). Hence, accountability is very important in society. It can be seen as a key factor for engaging the wider community as an important stakeholder in business

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activities. Hence, behavior of accountants on CSR and CSR s issues can be expected positively Accountability information play important role in businesss manager making decisions as well as other stakeholder groups. Hence, potential accountants (current accounting students) and practicing accountants have social responsibilities to prepare and to report reliable accountability information, CSR information as well to all stakeholders. The third hypothesis is assumed: Assumption3: Accounting students behavior is also positive toward companys CSR activities.

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CHATER 3: RESEARCH METHODOLOGY

3.1 Research objective
The objective of this research is to focus on three main factors such as: managements perception on CSR conceptualization; consumers perception on CSR conceptualization; accounting student s perception on CSR conceptualization. Accordingly, this researchs objective is the information collected to clarify three assumptions as follows: Assumption 1: Managers behavior toward CSR is to influence positively on CSR practices. Assumption 2: Behavior of consumer toward companys CSR practices and disclosures is confident. Assumption 3: Accounting students behavior is positive toward companys CSR activities.

3.2 Applied research methodology

For each research, selection the most appropriate research methodology is very important; as this is the effective tool help the writer express the ideas, as well as collect the necessary information. The main research methodology applied in this research is based on the questionnaire, as this method takes low cost, and is easy to conduct.

3.3 Data source

This research will gather information through two main data sources such as: primary data and secondary data.

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3.3.1

Primary data sources

Primary data is concerned with the sources of data gathered in the direct way. Or in other words, this source of data will serve the researchers expectation by gathering at hand for specific purpose. One of the ways to collect primary data is collecting information from questionnaire. The writer can base the objective of the research to create the specific questionnaire paper and distributes for number of selected people. Using primary data, the researcher can be more active in collecting information, directly communicate with people received questionnaire. Nevertheless, it is too difficult to collect information from primary data, as this requires the expertise and knowledge about the topic, and take a lot of time to complete and gather information.

3.3.2

Secondary data sources

If primary data sources need to conduct for collecting information, secondary data sources is often available on newspaper, journal, internet, and other sources. The most advantages of secondary data source are low cost and take a short time to collect information. Nevertheless, as the secondary data is too much, required information might not be found, or the entire needed information might be not available on internet. To meet the researchers need, the researcher need to collect the information from secondary data sources carefully such as: reading all information, limiting the needed information, classification the finding information, analyst information, and the final stage is to evaluate the finding information in order to meet the requirements of each research.

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3.4 Research method

For collecting primary data, the research method is used as the questionnaire. This is also the most widely used and best effective approach preferred by most of researcher. For collecting secondary data, the research is based on the information available on the internet and other sources.

3.5 Research tool

As mentioned in research objective, survey involves three patterns to clarify three assumptions relating to managers perception, consumers perception, and accounting students perception toward the concept of CSR. Management survey consists of seven (7) questions to measure the managers knowledge about the concept of CSR and how company act to response this concept. Consumer survey includes six (6) questions to expose the consumers attitude toward the concept of CSR such as: knowledge about CSR, buying behavior products that come from the companies follow the CSR. Accounting student survey consist of seven (7) questions is to measure their awareness about CSR, and their ideas about CSR education and practice in universities. The measurement for all of three survey models is five-points Likert scales (I= strongly disagree; V= strongly agree) to indicate that how the respondents approach and understand about the concept of CSR. Besides that, the additional opinion part is added for respondents want to write more clearly their ideas.

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3.6 Data collection

Major information of this paper is primary data from result of survey. The management surveys are sent to mangers of ten companies including financial services (Vietinbank, An Binh Bank, Ha Noi Stock Exchange), consumer goods and services (Vissan Company, Thuong Dinh Footwear Company, Vincom Megastar Cinema), and industrial ( Hanel Company, Honda Vietnam Limited company).The consumers questionnaire survey are delivered to people who was customers/buyers in branches of Vietin Bank, Ho Noi stock exchange, Parkson Plaza, Vincom Megastar Cinema. Surveys for accounting students are done by students of International School, Vietnam National University Hanoi (IS-VNU) and Foreign Trade University (FTU). The secondary data are collected from annual reports of business organizations or nongovernment organizations.

3.7 Sampling
3.7.1 Sample population

In order to save time and cost, the selected population is citizen in Hanoi City only.

3.7.2

Sample entity

As mentioned above, The sample entity of this research is focused on managers, consumers, and accounting students in Hanoi City and Ho Chi Minh City.

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3.7.3

Sample size

Total 380 questionnaire surveys are introduced including 100 management questionnaire patterns, 150 consumer questionnaire patterns and 130 accounting student questionnaire patterns have been sent out.

3.8 Language in questionnaire

The questionnaire used the plain English for the most effective understanding. In addition, the phrase used in questionnaire is short and easy to give the answers in some minutes.The researchers distribute the questionnaires for group leaders good at English, and then they will help other members in their group complete the questionnaire in the most effective way to avoid misunderstanding.

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CHATER 4: FINDINGS AND ANALYSIS

4.1 Findings
As mention above, survey questions are done in 3 patterns: management, customer and accounting. Participants are managers, customers and accounting students in financial services ( Vietinbank, An Binh Bank, Ha Noi Stock Exchange), consumer goods and services (Vissan Company, Thuong Dinh Footwear Company, Vincom Megastar Cinema), and industrial ( Hanel Company, Honda Vietnam Limited company). Most of survey questions were collected and the results summarize in the figure below: Figure 4.1. Response rate

User Groups Management pattern Total Customer pattern Total Branches of Vietin Bank Ha Noi stock exchange Parkson Plaza Vincom Magastar Cinema Financial services Industrial

Distributed Questionnaires 40 30 100

Received Questionnaires 19 11 9 39

Respond Rate (%) 47.5 36.7 30 39

Consumer goods and services 30

30 30 40 50 150

20 15 27 25 87

66.7 50 67.5 50 58

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Accountants student pattern IS-VNU students FTUs students 80 50 39 27 48.8 54

Total

130

66

50.8

4.2 Result analysis

4.2.1 Manager 4.2.1.1 Result of managers questionnaire survey Figure 4.2. Distribution of managers response from questionnaire survey Questions Managements perception on CSR activities 1. Company should practice CSR voluntary. % 23 2. Activities for protecting environment, employees @ 11 and solving social issues are social responsibility of the company. 3. Companies should have responsibility to their customers and society at large rather than their employees. Managers attitude support for CSR and CSRs issue 4. Mostly concerning CSR are related executive and @ 6 management attitude toward CSR. purpose for companies to use communicators to improve their image brand. % 15 5. Social responsibility has seemed to be a major @ 2 % 5 10 26 8 21 14 36 13 33 7 18 12 31 2 5 4 10 % 28 @ 5 % 13 44 17 43 9 23 28 8 21 13 33 5 3 8 9 23 0 0 0 3 8 V @ 9 IV 17 III 11 II 2 I 0

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6. CSR disclosure will have positive affects to @ 0 stakeholders decisions. well as profits. % 0

10 26 7 18

14 36 11 28

9 23 14 36

6 15 7 18

7. CSR programs help company to increase sales, as @ 0 % 0

V= strongly agree, IV=agree, III=neutral, II=disagree, I= strongly disagree; @: number of selecting

According to figure above, there are 67% of respondent think that their companies should be willing to respond CRS programs while 13% of them have no comment or disagree about this statement (question 1). Moreover, 71% of executive and managers confirm that social responsibility of their organization is to protect environment, their employees and solving social issues (question 2). Hence, percentage responses of both question shows that managers perceptions on CSR is strongly confident. Furthermore, 46% of respondents think that companies have responsibilities to their customers and society at large rather than their employees whereas 33% neutral and disagreement is 31% of respondents who may believe that companies should also take-care their employees (question 3). Majority of respondents (59%) think that both practice of CSR program of each company would be related executive and managers attitude toward CSR, whereas 41% agree important role of manager in developing CSR practices and disclosure (question 4). In question 5, most of respondents (41%) do not agree that social responsibility is main reason for company to employ communicator to PR their organization. They are voluntary to spend financial resource for society in order to improve living standard and quality of environment. On the other hand, 26% of them think that social activities of some business organization aim to improve their organization's reputation and brand name which is

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considered as most efficient integrated marketing communication tools adopted by businesses. Respond to question 6, only 26% managers inform that CSR reporting have positive impact on investor and stakeholders decisions while 36% of them have no idea about this statement. 38% managers said that their stakeholder or investor might not concern about CSR reporting before making decision. Most of managers (54%) do not believe that CSR activities can make company to increase revenues whereas 28% of them are not sure. However, 18% of them think that CSR programs will bring benefit to their organization (question 7).

4.2.1.2 Discussion According to representation of percentage responses from management questionnaire survey above, managements perception on CSR is positive. Most of managers understand clearly role of CSR for their business. Those companies aim at through its CSR efforts is nothing less than realizing the business philosophy through their business activities, as well as through social contribution activities. Besides, managers defines CSR as making products and services with best quality with reasonable price, giving safety working environment and good condition for employees, contribution a part of earnings for society charitable programs, and social activities, as well as for protecting environment. For example, Honda is an automaker whose primary responsibilities may include manufacturing safe vehicles or reducing pollution directly resulting from manufacturing processes or product use. Secondary responsibilities might include supporting safe driving programs. Taking similar social purpose, Hanel will continue to propose one-of-a kind products and new lifestyles, as well as fulfill their social responsibility, notably in the environmental and social areas, acting and behaving sincerely as a corporation that is trusted by all.
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Most of managers agree that CSR practicing of their organization is impacted by their attitude toward CSR. Through respondent information in questionnaire survey, young people have more positive attitude toward CSR. The management s attitude to CSR was put for a nonparameter correlation analysis to discover the factors affecting managements CSR attitude. Besides that, position and year of employment of respondent also affect management attitude. Furthermore, in Viet Nam, many companies have mixed CSR and Public Relation in order to attract customer in commercial manner. These activities help company to marketing companys image brand and products. However, respondents almost do not agree this opinion (41%). CRS was introduced into Vietnam through CSR activities of multinational companies such as Honda, Megastar. Those companies build communication and culture standard which apply for all subsidiaries over the world. Hence, practicing CSR of those companies are efficient and voluntary, not for marketing their product or brand name. For example, everyone who are living in Viet Nam also know Toi yeu Viet Nam program of Honda Viet Nam Limited. The aim of this program is to educate traffic law for citizens. Vietnamese export-oriented companies as Vissan Company, Thuong Dinh Foof wear Company have been attempted to be good citizenship basing on their respect and activities to society because of requirement of their foreign investors and buyers.

4.2.1.3 Conclusion As the above result of survey and analyzing, managers behavior on CSR and CSRs reporting is positive and influence on CSR s practices of companies. Besides that, managers of these companies also believe that good CSR practices will bring better image to everyone and more numbers of customers use their products or services. With positive attitude of manager toward CSR, these companies will pay more attention for CSR s programs such as
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solving environment issues, spending money for social activities, improving quality of employee standard working, as well as their living in the future. Moreover, Vietnamese economic has been being globalization into global economic, and then Viet Nam is potential market for international investor and partners. In order to meet international requirements, Vietnam companies, especially managers have actions to comply with the international standards and requirements in which CSR is an essential factor. Hence, managers of organization should learn more about CSR that also means leaning how to manage CSR initiatives, engaging with stakeholders and reporting on activities. These actions help managers to evaluate the advantages and disadvantages of particular strategies and implementation. Managers enable to carry out CSR alive within the company.

4.2.2

Consumers 4.2.2.1 Result of questionnaire survey

Distributions of customers response are show in figure below. Figure 4.3. Representation of customers responses from questionnaire survey Statements Consumers perception on CSR 1. Business organizations have responsibility to social V @ 9 IV 31 37 19 22 36 41 III 29 33 27 31 20 23 II 15 17 26 30 13 15 I 3 3 8 9 5 6

% 10 problems. 2. Many Vietnamese businesses concentrated on @ 7 solving short term issue in price and quality rather than issue of sustainable development and CSR % issue. 3. I find information and knowledge about CSR @ 13 through mass media such as newspaper, radio and television, internet.
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Consumers action for CSR 4. 5. 6. I feel important to buy products of company that do @ 5 CSR practices % 6 I notice to see SA8000 or WRAP in products @ 7 package when I buy them. % 8 I will not purchase products form unethical @ 13 companies. % 15 21 24 31 36 34 39 22 25 27 30 31 36 28 32 17 20 7 8 11 13 5 6 2 2

V= strongly agree, IV=agree, III=neutral, II=disagree, I= strongly disagree; @= number of selecting

A large number of consumers (47%) believe that companies have responsibility in solving social issues whereas 33% of them are neutral and 10% disagreeing this statement (question 1). Moreover, almost respondents (70%) think that companies should not only concentrate on solving short term issues on quality and price rather than issues of sustainable development and CSR issues (question 2). They understand about CSR through information from newspaper, television, radio and internet (56%).Only 21% of respondents said that they know about CSR through other resource such client s companies. All first three questions are more agreement percentage. The result of first three questions indicates that consumers perception on CSR is positive and this is important issue. However, consumer support to social responsibility business is not strongly positive there is. There is 30% of consumers agree that they feel important to buy products from company practicing CSR, whereas approximate a haft of respondents (46%) do not think that even it relates their benefit (question 4). However, 44% of customers agree that they notice products putting SA or WRAP in their product packages or not when they buy them while only 26% of them do not do that. This result will show consumer who concern about CSR practicing of manufactures (question5). Besides, 54% of respondents confirm that they will not purchase products from unethical companies in order to avoid harmful product (question 6).

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4.2.2.2 Discussion Descriptive result figure above indicate that consumers show a positive perception on CSR issues. The ethical dimension in Carroll s CSR pyramid has recognized by large number of consumers but it is limited in their health safety concern. They do not pay attention in other issues such as how companies treat their employees or society. These issues do not show in their perception on CSR. Some consumers indicate that they consider price and quality of products to be more important than ethics in their purchasing decisions. Vietnam is emerging country, a larger number of populations have low and middle income, and then price is primary considered when they shop. That s why, price and quality of product is impact strongly on their making buying decision. Therefore, it can be assumed that ethic in doing business will reflect in providing high quality product at low price which is an indicator for social responsibility of firm through giving more value to consumers. Moreover, Vietnam consumers had faced harmful food and health problems for many past years such as toxic chemical food, dry hot chilies....These problems push consumer to concern the important of environment and health factor. Hence, most of them said that they do not buy products from unethical company. Today, consumers prefer CSR firms, as well as clean and green products. They also think that companies should focus on sustainable development rather than short term problems. Therefore, companies will attract more customers if they promote strongly their CSR programs, more efficient to incorporate CSR initiatives in their integrated marketing strategy.

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In additional, the descriptive statistics of survey show that respondents at young age do not pay strong positively attitude toward CSR like people at old age. Even they state that it is important for companies to do social responsibilities into the business operation, but they do not care about companies practicing CSR or not. The things which they most concern are the price, and outlook of products. Comparing the range of age of respondent s survey, young people are in 20-30 years old who may be student or new-graduated employees. They must spend money carefully because they have not earned money yet or having low income. In contrast, old people are more concerned about CSR. Because they have many experiences throughout their time life, so they know what are important for themselves, for other people, as well as society. Hence, they have high ethical behavior. That s why most of middle and high age of respondents agrees that they see property symbol SA 8000 or WARP in package of products when they purchase them. Majority consumers said that mass media such as internet, television bring CSR information to them. They know about CSR activities of companies or CSR scandals through two communicators. However, information is in form of advertisement of companies which make consumers feeling that companies are marketing their brand name and products. The information from clients companies or CSR corporations is more reliable for consumers but they do not communicate with these information resources. Some consumers seek that advertisements of companies in media usually show their good image and positive influences of companies operation on environment and social. So, these information resources might not reflect the behavior of companies to social.

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4.2.2.3Conclusion The different ages of customer show different supporting for responsibilities attitude toward CSR. Consumers currently begin to more concern about food safety problems by taking actions for societal and environmental factors of CSR .This result can assume that an ethical segment of consumers has been also emerging gradually into Vietnamese market. They chose to select clean and green products and ignore products that might harm for their health. In Viet Nam, consumers behavior purchasing normally push companies to take actions for societys benefits. However, consumers make buying decisions but they do not know little information about companies involving CSR programs or not. Therefore, the great business strategy for companies is how to promote efficiently CSR initiatives. In general, each consumer has knowledge about CSR that help customers to recognize misconduct when transacting with a company. Knowledge of CSR can make them more assured in taking action to address the misconduct.

4.2.3

Accountings student

4.2.3.1 Result of questionnaire survey Figure 4.4. Distribution of accounting students responses from questionnaire survey Statement Accountings student perception on CSR practices 1. 2. CSR practices are important for everyone. CSR is needed to be more concerned in Viet Nam V @ 7 % 11 @ 12 % 18 @ 6 IV 19 28 31 46 19 III 20 29 15 22 25 II 17 25 8 12 13 I 5 7 2 3 5

3. The provision of financial and nonfinancial

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information relating to business organization is CSR responsibilities. 4. CSR disclosure brings benefit for companies.

% 8 @ 9 % 13

28 19 28

37 23 34

19 15 22

7 2 3

Accounting student activities for supporting CSR 5. 6. 7. It is necessary for students to attend in social @ 9 activities in the school. long as in the school. Before I finish my course, I will participate in % 13 % 10 @ 9 Accounting students should have CSR practices as @ 7 17 25 17 25 24 21 31 23 34 16 15 22 13 19 13 6 9 8 12 6 9

% 13 35 24 19 training class to understand further CSR concept. V= strongly agree, IV=agree, III=neutral, II=disagree, I= strongly disagree; @= number of choosing

In the first statement, there is 39% of accounting students agree that everyone should pay attending in CSR activities whereas 32% do not support for this statement, whereas 30% stay in neutral. More than haft numbers of respondents (64%) think that CSR should be concerned further in Viet Nam, only 17% oppose this idea (statement 2). In the next statement, 36% of students said that provision financial or non-financial information relating to an organization is CSR responsibilities. The same percentages of students remain in neutral whereas 26% of them do not think that (statement 3). Besides that, 41% of students believe that CSR disclosure will brings benefit for companies if they have CSR responsibilities. Whereas 34% of them give no comment, 25% disagree (statement 4). In the first part of questionnaire survey, the answers of respondent suggest that the accounting student s behavior toward CSR is positive. In statement 5, there is 37% of accounting students, who agree that they should pay attention in social activities of their school, it is necessary. For opposing this statement and in neutral, there is 31% of each. Similarity, 35% of them said that accounting student should have CSR

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practice as long as they are in the school, whereas 34% stay in neutral and 31% disagree with this idea (statement 6). In the last statement of survey, approximate a haft of respondents (48%) agree that they are willing to enjoy training class to gain experiences and skill about CSR and CRSs issues which help them to understand further CSR. 24% of them have no idea and 28% give disagreement. In the second part of survey, the results show that number of respondents in three level (agree, neutral, disagree) are almost similarity.

4.2.3.2 Discussion Accountability information is very important for all shareholders including shareholders, employees, creditors, customers, suppliers, government and the community. Hence, issuing or introducing accountability information is correct and reasonable which is accountant responsibility. It is CSR responsibility as well. Guthrie and Mathews (1985) defines CSR as the provision of financial and nonfinancial information relating to an organizations interaction with its physical and social environment. At the same idea, Radebauh and Gray (2002) emphasize that CSR refers to accountability to society as a whole with respect to matters of public interest such as community welfare, public safety, and the environment. According to results of survey for accounting student, most of student in accounting major understand about definition and disclosure of CSR. However, there is different level of their concerning about CSR. Some of them pay strongly attention in CSR activities, some of others are not. Besides that, respondents are business student who are educated about CSR concept during their course. So they are at least to know a little definition of CSR. Hence, we can believe that their attitude toward CSR practices will be positive because they understand how CSR to be important for organizations and human.

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4.2.3.3 Conclusion Above descriptive statistic of respondents from questionnaire survey and discussion shows that third assumption in chapter 3 is occurred. Accounting students have positive perception on CSR s issue. They are educated about CSR conception in their course. They are really enjoyable to enter social activities. As mention above, accountability information is essential and necessary for all shareholders and as public interest. Accounting students catch this mean and they are willingness to participate in CSR training courses.

4.3 Implementation
In Vietnam, the small businesses have not paid attention to application and enforcement of CSR. However many enterprises have put CSR into their business strategies. Typically, there are social programs such as Six million cups of milks for poor Vietnamese children of Vinamilk, Den Dom Dom scholarship fund of Dutch Lady, Library Hub Community of Hub Caf. Moreover, Vietnam has Vietnam Forum on CSR which is administered by Vietnam Center for Development and Integration. Vietnam Chamber of Commerce and Industry implement sustainable development activities for enterprises. It focus on promoting the performance of business social responsibility, sharing experiences in management of labor, raising the standard of working environment, health care workers. It helps strengthening exchange and cooperation of CSR in Vietnam. It also proposes to the Government on building better social policies for employees. Thus, this Forum helps Vietnamese businesses preventing the disaster from the lack of sense of social responsibility in order to developing sustainable integration.

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CHAPTER 5: CONCLUSION
5.1 Conclusion
Vietnam economic has integrated with global economic since last decade. The process brings to Vietnamese economic opportunities to expand their business operation and introduce their products over the world, especially small and medium enterprises (SMEs). Currently, many SMEs expand their operation and export their products over the world. Although, Vietnam economic is growing rapidly and good performance, but Vietnam faces difficult issue for sustainable development, especially social and environment problems waste management, energy saving, protecting air environment, implement of working safety standards, taking care of workers as well. Many scandals of factories occurred in recent time relating serious pollution such as Thi Vai river case and numerous case of health problem including tainted milk, harmed child-toys, and toxic ingredients in consumer goods. These scandals push people to more concern on CSR in Viet Nam. In additional, the globalization process require Vietnam economic taking more pressure in order to meet with many international standards and cope with the high development speed of the world .Especially, Vietnamese exportoriented companies such as Vietnam shoe manufactures and textiles industry began implement CSR norms of conduct under pressure from Multinational Corporation in developed countries. Hence, CSR programs and its reporting become to be important target for Viet Nam economy in the current integrated processing. Despite the CSR concept come in Vietnam for long time, practices of CSR in companies is still poor. However, this topic has not yet interested for Vietnamese academics or researchers to choose in their researches. This paper provides a clear justification and indication from the empirical evidences of various stakeholders perspectives (manager, customer and accounting student) about the significance of CSR to business organizations in Viet Nam. Financial

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performance is very important sector for organizations to survive and complete with others in global economy competition. However, organizations must have responsibilities to various stakeholders and community where they exit. Positive perceptions of various respondents on the practice of CSR prove that managers need to be convinced that CSR and profit maximization can be belonging together. Hence, CSR can be used as a strategic tool to enhance the reputation and public image of a business institution. Besides that, CSR will bring profits for an organization in the long-run. Manager is a stakeholder who has the control power over resources to make decision organizations. So, managers need to have awareness and commitment in order to apply CSR into business organization. Besides, consumers perception on conceptualization of CSR may influence directly their purchasing behavior. In the contrast, accounting is seemed as language of business. Accountant is as communicator between companys activities and stakeholder groups. The role of accountant in company is very important. So, the quality of CSR reporting depends on accountants knowledge and commitment. Therefore, accounting student should understand and aware exactly conceptualization CSR before do accountability practicing in the fact. Manager, customer and accountant play important role in social performance of the business organization. They are reasons to explain that this study is selected these respondent groups. The results from survey show that people support strongly for business organization to made decision and strategy for CSR program. The perception of consumer toward CSR helps firms to issue efficient CRS programs on the side of consumer. The results recommend managers a unique point which produces high quality products at low price to consumer as well as communicating CSR to be effective way to expand sales and profits.

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Nevertheless, there is a different perceive and actions among people due to lacking of adequate CSR disclosure. For example, Vietnamese consumers do not understand CSR property. Hence, they are victims of CSR scandals but they response passively and weakly because they do not have knowledge how to react actively to these issues and also how to use consumer power to protect them. Generally, people often express good intention rather than taking actions or making decisions when they face real issue of CSR. However, with highly positive behavior and perception on CSR and concern about CSR will bring CSR issues to be closed and popular for all people.

5.2 Recommendation
To achieve and improve effective CSR practicing, business organization should implement CSR concept into operation in accordance with sustainable development. For example, firms should be engaged in CSR efforts aiming at addressing social and environment issues including pursuing education-related activities such as supporting the construction of element school in urban areas and offering scholarships, providing vocation training for workers, building social house for poor people. Vietnam government should issue mandatory disclosure requirement for firm to guide about what, how to disclose CSR information. Besides that, companies should corporate with international organizations, non-organization organizations to promote CSR practices effectively. These organizations help companies as well as Viet Nam dealing with its most pressing issues such as poverty, environmental degradation and human resources development.

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Furthermore, companies should enhance lines of communication with local communities (located province or city). It is very important for company to corporate closely with located communities. For example, CSR programs or issues should be planned and discuss with local staffs and regional government, NGOs to gain their knowledge, opinions that help companies solve these problem faster. Besides that, companies should offer strengthened communication channels in order to help providing information on the results of their efforts.

5.3 Limitation of study

In general, there are some limitations of this study. A first limitation is lack of general analyzing because the questionnaire survey took in two big cities Ha Noi and Ho Chi Minh where people have high education and standard living. So they understand about CSR concept rather than people lives in urban areas. It is more efficient to analyze people perception on CSR if survey delivers to different areas in Viet Nam. Another limitation is size of sample. Ten companies are selected in the study which is considered big corporations. These companies have stable financial resource, and then they have advantage in financial rather than small companies. As result, they may pay positive attitude for CSR issues. For future researches, sample should open range type of respondents. Furthermore, stakeholders of business organizations are many groups. So, exception managers, consumers, accounting students, there are other groups such as government, investors, and suppliers. Hence, future studies can choose these groups to make exactly and completed viewing on CSR issue in Viet Nam. Last limitation is limitation of quality of survey questions that are designed by researcher, and then lacking of professional touch. The lack of indentify in the questions has caused

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respondents misunderstanding the questions. As consequence, they provide inappropriate selected choosing. Furthermore, researcher lacks of experience in preparing survey questions that lead to miss some other respect of CSR s issues

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APPENDIX : QUESTIONNAIRE
MANAGEMENT SURVEY Personal Information Company: Years in holding current position: Questionnaire To what extent do you agree with those questions? 5= strongly agree, 4= agree, 3= neutral/no opinion, 2= disagree, 1= strongly disagree Questions 1. Company should practice CSR voluntary. 2. Activities to protect environment, employees and solve social issues are social responsibility of the company. 3. Companies should have responsibility to their customers and society at large rather than their employees. 4. Mostly concerning CSR are related executive and management attitude toward CSR. 5. Social responsibility has seemed to b a major purpose for companies to use communicators to improve their image brand. 6. CSR reporting will have positive impact on stakeholder and investors decision. 7. CSR programs help company to increase sales, as well as profits. 5 4 3 2 1

Additional personal comments (option):

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CONSUMER SURVEY Personal Information Age: 20-30 30-40 40-50 50-60 Above 60 Education: Current employment: Questionnaire Towhat extent do you agree with those questions? 5= strongly agree, 4= agree, 3= neutral/no opinion, 2= disagree, 1= strongly disagree Questions 1. Business organizations have responsibility to social problems. 2. Many Vietnamese businessesconcentrated on solving short term issue in price and quality rather than issue of sustainable development and CSR issue. 3. I find information and knowledge about CSR through mass media such as newspaper, radio and television, internet. 4. I feel important to buy product from company who do CSR practices 5. Inotice to see SA8000 or WRAP in products package when I buy them. 6. I will not purchase products form unethical companies 5 4 3 2 1 Marital status: Married Single

Number of children: None 1 2 Above 2

Through which channels do you know about CSR activities of companies? How do you think about quality of the information?
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Additional opinion (option):

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ACCOUNTING STUDENT SURVEY Personal information School: Years of degree: Gender: Male Female

Questionnaire Towhat extent do you agree with those questions? 5= strongly agree, 4= agree, 3= neutral/no opinion, 2= disagree, 1= strongly disagree Questions 1. CSR practices are important for everyone. 2. CSR is needed to be more concerned in Viet Nam 3. Accounting student have responsibility to know and understand CRS role. 4. CSR disclosure brings benefit for companies. 5. It is necessary for students to attend in social activities in the universities. 6. Accounting students should haveCSR practices as long as in the universities. 7. Before I finish my course, I will participate in training class to gain knowledge and skill to understand further CSR issues. 5 4 3 2 1

Additional personal comments (option):

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