A Part of the Air We Breathe? - Managers' Perspectives on CSR Initiatives Using the Example of the Icelandic Equal Pay Certification

Sammanfattning: In this study we have explored managers’ perceptions of the importance of Corporate Social Responsibility (CSR), and the extent to which CSR can be evaluated and promoted through third-party certifications. To understand how such certifications affect companies and their corporate governance, we have explored the Icelandic Equal Pay Certification (EPC), an example of a CSR initiative. Using ten qualitative semi-structured interviews, we gathered information on how Icelandic, top-line managers experienced the opportunities and challenges the EPC presents, and how it has affected the corporate governance of their companies. The empirical results were analyzed using thematic categorization and categorical content analysis. The results indicate that managers perceive the importance of CSR to be significant and continuously growing. Furthermore, the EPC presents the managers with various opportunities and challenges, while having a positive impact on the corporate governance of companies. The participant’s testament of their experiences with the EPC may serve as indicators on how third-party certifications can promote CSR and social progress. The findings further suggest that mandatory initiatives can encourage the advancement of social responsibility, especially for issues where short-term gains for companies may not be evident. The topic of the EPC: gender equality, is an example of such an issue, where stricter policy to expedite improvements is arguably needed. We conclude with a discussion on the ever-growing importance of CSR in both corporate and general discourse, and how all members of society, companies included, must do their part to advance positive societal changes for current and future generations.