• The Study of Endogenous Corporate Social Responsibility in Saudi Arabia

      Harris, Phil; Saeidi, Adnan E. A. (University of Chester, 2019-05-14)
      Corporate Social Responsibility (CSR) is striving to reach the business community of Saudi Arabia from Western and International CSR prospective. However, they are faced with local endogenous CSR factors indicating the distinctive Saudi CSR features and characteristics originating from within Saudi Arabia during the current early CSR initiatives. Saudi Arabia is an advocate for Islamic teaching and practices, throughout the Islamic world abiding comprehensively to the Islamic social care system, which is interlocked with additional unique cultural, national, and social expectations. Those factors overlap with the semi-official governmental endorsements and the private sector’s unique conceptualization of CSR, which, in essence, formulate the endogenous distinctive Saudi CSR characteristics (Saudi CSR) considered to be under-researched in comparison to the CSR generic debate in other countries. The research questions are: what are the endogenous Saudi CSR Characteristics? How can they be related to the local Saudi CSR unique conceptualization? And could they be interpreted using Carroll’s 1779, 1991, and 3D CSR Models? The study primarily aims to empirically investigate, identify, and analyse the unique origination of the Saudi CSR model and the misconceptualizing it has to the International CSR regulatory framework. It also aims to provide a possible template for the Saudi National CSR strategy respectively. It focuses upon investigating whether the empirically formulated and identified Saudi endogenous CSR’s context and characteristics can be aligned, analysed and/or interpreted in light of CSR generic theories, and the international CSR standardization for reporting initiatives, including Carroll’s Four dimensions: 1979 and Pyramid 1991, and the Three-Domain 2004 CSR models (Mark et al., 2004). The analytical analysis demonstrates that a Saudi national CSR strategy has not been established yet; hence the current study provides a template for building up such strategy. A conceptualized theoretical framework is formulated utilizing both empirical evidence from pilot studies and the narrative analytical analysis, which aimed at identifying and exploring Saudi CSR uniqueness using an eclectic research approach. The indirect Saudi CSR evidence was investigated using questionnaires, document analysis and Semi-structured interviews, which comprised nearly 380 Saudi organizations within the private, listed, and Non-profit sectors. Data Analysis including King Khalid Foundation, Saudi companies and CSR Data reflection revealed a set of endogenous distinctive characteristics, which are validated using triangulation data collection tools. The findings of the study suggest that the Saudi CSR characteristics (endogenous features) fall within the following categories evidenced by their practical applications, Saudi companies’ strategic policies and Saudi leadership’s CSR own self-generated principles: (1) Islamic Philanthropy, (2) Social Obligation, (3) National Development Obligation (5) Corporate Citizenship (6) National Economic Developments (7) National Competitiveness, (8)Stakeholder’s Expectation and (9) Environmental and Global Expectation and (10) Corporate Governance. Furthermore, data analysis displays that Carroll’s 3D CSR model sets certain suitability limitations for Saudi CSR interpretations. It also reveals the need for utilizing the adopted Carroll’s combined model formulated in the present study; its utilization conforms to the Saudi CSR components while formulating the required Saudi national CSR.
    • Understanding UK Rewards-based Crowdfunding as an Alternative Source of Entrepreneurial Finance

      Harris, Phil; Lam, Wing; Zhao, Ying (University of ChesterUniversity of Chester, 2019-06)
      Entrepreneurial financing plays a vital role in the survival and viability of businesses (Crosetto & Regner, 2018; Mason & Harrison, 1991; Signori & Vismara, 2017; Zhao et al., 2019). Research studies and financial commentators have suggested that reward-based crowdfunding (RBC) plays an increasingly important role in the process of business start-ups (Baeck et al., 2014; Bilau & Pires, 2018; Lelo de Larrea et al., 2019; Mollick, 2014). However, a review of literature indicates that little is known about the field of RBC from a theoretical perspective. Therefore, the main aim of the thesis is to address the knowledge gap by developing a conceptual framework to advance understanding of the RBC funding process through using a signalling theory lens. The author adopted a pragmatist epistemological stance. This study collected publicly available data of 636 UK start-up projects on a RBC platform, Kickstarter, from September to December in 2017 and repeated this for the same period in 2018. It was found that signal observability (the size and quality of the fundraiser’s network) play a significant role in crowdfunding success across all projects. Whereas, prosocial intention (charitable purpose) plays a stronger role in predicting the likelihood of the success of projects with a medium goal. This study identifies and evaluates how the key factors (project quality, project intention and signal observability) impact on crowdfunding’s success, as well as investigates the interplay between different actors (signallers, receivers and signals) in the RBC market. A further important contribution of this work arises from the use of rich qualitative data in addition to the quantitative research approaches previously utilised by others (Bi, Liu and Usman, 2017; Kunz et al., 2017). The thesis makes contributions to both theory and practice. The findings have major implications for different parties including: policy makers, practitioners, researchers and educators. It provides an insight for practitioners considering the adoption of a crowdfunding approach and the knowledge and recommendations in running a successful RBC campaign. It also helps nascent entrepreneurs to reconstruct their financing strategy through the better understanding of the position of RBC in entrepreneurial financing. An important implication is that this study can help policy makers to better understand the RBC industry, which is essential in developing relevant policies in this under-governed area. Finally, this research contributes to growing knowledge and interest in entrepreneurial finance, especially in the online alternative finance market, which is beneficial for both researchers and educators.