2.1.6. CSR towards Shareholders

Shareholders are individuals who own a company's shares. By investing in a company, shareholders gain benefits from improving the company's financial situation with a high share dividend in return. Besides investing in a company, shareholders can engage in the company's activities, such as consulting and other assistance related tasks. Without shareholders' engagement, a company cannot operate well. In fact, CSR towards shareholders is vital in a business—if a company does not take on the responsibility, it may struggle with financial issues [50]. CSR towards shareholders can be considered as an enterprise investing the capital of shareholders properly. Moreover, companies must respect their shareholders by communicating openly and honestly with them. Finally, companies have to guarantee sustainable development and long term success to the shareholders [28,38,47]. The following hypothesis is developed:
