• Covariance matrix

The covariance matrix depicting the linear relationship between constructs is demonstrated in Table 5 for the pooled Vietnamese, Indonesian, and Taiwanese data. It can be seen that all values in the matrix are positive, showing an increasing linear relationship between the constructs.



• Goodness of fit testing

In the study, goodness of fit testing was used to evaluate the covariance between the variables. Indexes are demonstrated in Table 6. The χ2/df of the pooled database and that of each region are significant. The explanation for this is that the data are collected from respondents from all walks of life in three locations (different areas, ages, educational background, marital status, jobs, and monthly income). This index is high and *p* < 0.000, which means that the one-factor model does not fit the data. However, it cannot negate the proposed models, since χ<sup>2</sup> is sensitive to the size and diversity of the samples [86]. Furthermore, the index is nonparametric statistics [87] and the possibility of finding differences is less than the parameter tests [88]. Consequently, the χ<sup>2</sup> test is not as suited as a general independent test [89]. Indices such as RMSEA, AGFI, and PGFI were not fit. However, indices, namely, GFI, NFI, CFI, and IFI are over 0.9, and SRMR is less than 0.08. Therefore, the model can be considered as accepted.


**Table 6.** Measurement of goodness of fit statistics.

• Hypotheses testing

Table 7 shows hypotheses testing. With the pooled data, apart from H6, all hypotheses are supported. For each regional data, H3, H7, and H9 are accepted while H6 is rejected in all three areas. Moreover, Indonesian and Taiwanese data support H1, H2, and H8 whereas those hypotheses are refused in Vietnam. Regarding H4, Vietnamese data support it (Est. = 0.20 > 0 and |t-value| ≥ 1.96) while both Indonesian and Taiwanese information rejects it. Nonetheless, H5 is accepted with Indonesian data while it is rejected with both Vietnamese and Taiwanese data.

0.62 \*

No 0.23

No 0.38 \* −0.00

Yes 0.23 \*

No −0.12

No −0.03

No 0.11

No 0.19


**Table 7.** Hypotheses testing—LISREL.

H5: Splr <sup>→</sup> CSR Yes

H6: Sh <sup>→</sup> CSR No

0.20 \*

0.16 \*

0.13 \*


**Table 7.** *Cont.*

Note: \* indicates |t-value| ≥ 1.96; supported: Yes (Est. > 0 and |t-value| ≥ 1.96).

The result of LISREL for the pooled data, Vietnamese data, Indonesian data, and Vietnamese data are depicted in Figures 2–5 respectively.

**Figure 2.** Result of LISREL for the pooled data.

**Figure 3.** Result of LISREL for Vietnamese data.

**Figure 5.** Result of LISREL for Taiwanese data.

#### 4.2.3. Comparison of the Regression Analysis and LISREL Model

Regression analysis is a reliable and powerful tool that can solve the relationship between independent and dependent variables as linear models. In regression models, R2 and adjusted R<sup>2</sup> demonstrate structural validity. In this research, all indices of the pooled database or each area are over 0.5, particularly, some indices are over 0.7. Therefore, we can consider the model as reaching the fit. Regarding LISREL, the advantage is that it is highly flexible for concluding the relationship of variables. In this study, some indices are fitted, however, others, such as RMSEA, AGFI, and PGFI, are not suitable (RMSEA is much higher than the cut-off value = 0.05 and AGFI and PGFI are way lower than the requirement). Therefore, we could not claim that the model is fully fitted.

Comparing the two methods, we found that the regression model is better than the LISREL model due to its validity. However, both methods showed similarities in supporting or rejecting the hypotheses. Especially for the pooled data, we rejected H6 and accepted the rest. We also rejected two hypotheses with Indonesian data and rejected three with Taiwanese data. However, in Vietnam, four hypotheses were accepted while five hypotheses were rejected.

#### **5. Discussion and Conclusions**

#### *5.1. Summary of Results*

Overall, for pooled data, CSR towards shareholders can be ignored while CSR towards other issues positively influences CSR. In particular, CSR towards customers is the most important factor. Furthermore, CSR significantly affects brand attitude and purchase intention. Moreover, the influence of CSR on brand attitude is higher than it is on purchase intention. Brand attitude significantly positively influences purchase intention.

Observing the Vietnamese data, CSR towards employees is the most important factor, followed by CSR towards customers, while other issues can be ignored. The result shows that CSR significantly influences brand attitude but does not affect purchase intention. Brand attitude still has a significant positive impact on purchase intention.

Regarding the Indonesian data, CSR towards customers is the most important factor, followed by the environment and society, while other factors can be neglected. CSR also has a positive impact on brand attitude and purchase intention (the impact of CSR on the former is much higher than on the latter). Furthermore, purchase intention is still influenced by brand attitude and the influence is higher than CSR's influence on purchase intention).

For the Taiwanese data, CSR towards customers is the most significant influence on CSR, followed by CSR towards society and the environment, whereas other aspects related to employees, suppliers, or shareholders can be ignored. Moreover, CSR has a significant impact on brand attitude. The influence of brand attitude is higher than the effect of CSR on purchase intention.

#### 5.1.1. The Correlation across All Areas

Regarding the pooled data across all three areas, the results showed that some aspects namely, the environment, society, customers, employees, and suppliers—have a positive impact on CSR. The explanation lies in the fact that, since the COVID-19 pandemic, customer perspectives have changed significantly. Specifically, for societal issues, employees are given a great deal of consideration. Additionally, together with the increasing awareness of the environment, issues such as environmental deterioration or natural disasters are becoming, in general, a pressing concern across the world [90]—particularly in Vietnam, Indonesia, and Taiwan. However, from the customers' standpoint, the conflict between shareholders' benefits and customers still exists [91]. Implementing CSR leads to an increase in company costs and risks, together with a decrease in shareholders' benefits [92]. In this regard, taking on responsibility towards shareholders has no impact on CSR; this is in contrast to prior research. In terms of brand attitude, CSR has a significantly positive impact on it. In other words, customers are likely to exhibit favorable feelings towards brands that engage in social responsibility. Additionally, the results depict that there is a positive correlation between brand attitude and purchase intent.

#### 5.1.2. The Correlation per Area

The effect of the environment on CSR varies across the three locations. Indonesian customers perceive the environment positively influences CSR, and its effect is higher than in Taiwan. However, it has no positive effect on CSR in Vietnam. In the Quran—the equivalent of the Christian Bible—Earth is mentioned over 400 times and Muslims are called to save it [93]. According to Islamic beliefs, environmental issues are seriously considered [94]. In Indonesia—an Islamic country—in the 1960s, the Suharto regime concentrated on economic growth together with environmental efforts [95]. Therefore, Indonesian people are likely to have a much higher awareness of the environment. Previous research shows that the concept of environmental sustainability bears resemblance to Taoist (Daoist) principles [96]. In Taiwan, many people are Taoists [97]; issues relating to the environment, therefore, are pervasive throughout the culture. Since 1992, Taiwan has progressed positively towards environmental sustainability [98]. As a result, Taiwanese people are paying much attention to the environment. Nonetheless, in Vietnam, consumers' awareness of environmental and social issues is still limited [99]. As mentioned in previous studies [100,101], these days, economic activities are in opposition to the socialist ideology declared by the party state, which has failed the environment and society [8]. In contrast, in Taiwan and Indonesia, social issues have caught the public's attention.

From the customer's perspective, their rights and benefits are crucially important. Consequently, fulfilling duties towards customers positively influence CSR in three areas. A new point of this research that is different from previous CSR research is that CSR towards shareholders does not impact CSR. This is because customers tend to believe that there is a conflict between shareholders' values and customers' benefits [91]. Regarding employees' benefits, in Vietnam, employees are positively affected by CSR while they are not in the other two areas. On the one hand, Vietnamese culture has been affected by Buddhism, Confucianism, and Taoism (Daoism), therefore, the centrality of nhan (humanity, humanness) plays an important role in moral values [8]. On the other hand, in Taiwan, nowadays, the COVID-19 pandemic has been severe, leading to job losses, and many employees continue to struggle from the pandemic's fallout. Therefore, employee related issues are taken into citizens' consideration. Regarding Indonesia, its economy is the largest in Southeast Asia and the country is an emerging global economy. Over the past decade, the Indonesian economy has developed rapidly and, by 2030, is likely to become the seventh largest economy in the world [102]. It is reasonable to postulate that, in Indonesia, issues related to the economy or supply chain are worth considering. CSR towards suppliers, therefore, has a positive impact on CSR.

Regarding the relationship between CSR and brand attitude, in three areas, CSR has a positive influence on brand attitude. In particular, the impact of CSR in Taiwan is the greatest, followed by Indonesia, and Vietnam. This means that Taiwanese consumers display their affinity towards CSR brands more than Indonesian and Vietnamese consumers. Moreover, when it comes to purchase intention, CSR takes effect in Indonesia and Taiwan. Specifically, Indonesian consumers are influenced by CSR more than their Taiwanese counterparts. Nevertheless, Vietnamese customers are not affected. Regarding the link between brand attitude and purchase intention, three areas experience positive relations.
