Corporate social responsibility in Latin American corporations: Role and importance

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Corporate social responsibility (CSR) responds to the strategic management of corporate practices with ethical and sustainable commitment values. This study aims to describe the corporate social responsibility actions implemented in Latin America during the COVID-19 pandemic. The sample comprises such corporations as Arcor, Banco de Crédito e Inversiones, and Corporación Favorita, corresponding to Argentina, Chile, and Ecuador. The research methodology was based on a qualitative, cross-sectional, non-experimental design. The study conducted documentary analyses of the annual reports of these companies, ranked among the top CSR in the Merco Ranking. As a result, it was determined that the corporations carried out actions aimed at the economic dimension, with 36% in terms of equitable economic retribution to employees and 41% in terms of their recognition through incentives. Likewise, the social dimension showed that 57% of the company’s actions were aimed at collaborative support to foundations that ensured educational and health factors. On the other hand, the environmental dimension focused 69% of its activities on renewable energies as part of a policy of reducing pollutants. Finally, it can be concluded that CSR actions during the COVID-19 pandemic were used to ensure corporate stability through a range of activities with a socioeconomic and environmental focus without neglecting the strengthening of its corporate reputation.

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    • Figure 1. Financial investment by organizations in 2020–2021
    • Figure 2. Social actions by organizations in 2020–2021
    • Figure 3. Environmental actions by organizations in 2020–2021
    • Conceptualization
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca, Franklin Cordova-Buiza
    • Formal Analysis
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca, Franklin Cordova-Buiza
    • Investigation
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca
    • Project administration
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca, Ena Cecilia Obando-Peralta, Franklin Cordova-Buiza
    • Resources
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca, Ena Cecilia Obando-Peralta
    • Validation
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca, Ena Cecilia Obando-Peralta
    • Writing – original draft
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca
    • Writing – review & editing
      Fatima Rosana Espinoza-Rivera, Karla Stefanny Huertas-Vilca, Ena Cecilia Obando-Peralta, Franklin Cordova-Buiza
    • Data curation
      Karla Stefanny Huertas-Vilca
    • Methodology
      Karla Stefanny Huertas-Vilca, Franklin Cordova-Buiza
    • Software
      Karla Stefanny Huertas-Vilca, Ena Cecilia Obando-Peralta, Franklin Cordova-Buiza
    • Visualization
      Karla Stefanny Huertas-Vilca
    • Funding acquisition
      Franklin Cordova-Buiza
    • Supervision
      Franklin Cordova-Buiza