scholarly journals CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE: THE SPANISH CASE

2016 ◽  
Vol 56 (1) ◽  
pp. 20-28 ◽  
Author(s):  
CRISTINA MADORRAN ◽  
TERESA GARCIA
Keyword(s):  
Corporate Social Responsibility ◽  
Panel Data ◽  
Stock Market ◽  
Social Responsibility ◽  
Financial Performance ◽  
Stock Market Index ◽  
Market Index ◽  
The Subject ◽  
Corporate Social ◽  
The Relationship

ABSTRACT The enormous interest aroused by corporate social responsibility both in the academic and the business worlds forms the background for this study. Its objective is to analyze the relationship between corporate social responsibility and financial performance in view of the debate in the literature on the subject. The study focuses on a sample of Spanish companies taken from the IBEX 35 stock market index, using panel data methodology, which offers advantages in comparison to methodologies used in other studies. We analyzed the period from 2003 to 2010. Our findings suggest that there is no obvious relationship between corporate social responsibility and financial results, at least in the case of Spain.

scholarly journals CSR – more than corporate storytelling?

2013 ◽  
Vol 2 (2) ◽  
pp. 44-50 ◽  
Author(s):  
Udo Braendle ◽  
Yaroslav Mozghovyi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Strong Correlation ◽  
Meta Analysis ◽  
Financial Sector ◽  
The Subject ◽  
Corporate Social ◽  
The Relationship

Since the subject of corporate social responsibility (CSR) gained sufficient attention of the researchers over the last 25 years, numerous attempts were globally made to examine the nature of the relationship between the corporate social responsibility of company and its financial performance (FP). The literature in this area is scattered, the findings are heterogeneous and do not provide a clear answer if CSR goes beyond corporate storytelling. In our meta-analysis of more than 135 studies we try to bring a structure in this discussion. In analyzing the literature over the last decades we find a strong correlation between CSR and financial performance. Based on our findings we present implications in discussing how “good CSR” can be fostered. We focus on the financial sector.

scholarly journals The Moderating Effect of Firm Visibility on the Corporate Social Responsibility-Firm Financial Performance Relationship: Evidence from France

2021 ◽  
Author(s):  
Zyed Achour ◽  
Sonia Boukattaya
Keyword(s):  
Regression Analysis ◽  
Corporate Social Responsibility ◽  
Panel Data ◽  
Social Responsibility ◽  
Financial Performance ◽  
Moderating Effect ◽  
Legitimacy Theory ◽  
Firm Financial Performance ◽  
Corporate Social ◽  
The Relationship

This research aims to analyze the role played by firm visibility in moderating the relationship between Corporate Social Responsibility (CSR) and Firm Financial Performance (FFP). Based on the legitimacy theory, a firm’s responses to stakeholder’s expectations would be affected by its public visibility; we hypothesize a positive link between CSR and firm visibility. Moreover, visibility is expected to moderate the CSR-FFP relationship. We applied a Moderated Regression Analysis using the aggregate ESG scores as a CSR proxy on a panel data of listed French Companies (SBF120) over the period 2008–2017. Our findings are in line with legitimacy theory, suggesting that social initiatives would be mean to strengthen the legitimacy and to secure “license to operate”. Furthermore, firm visibility would be a contingency variable that moderates positively CSR-FFP relationship.

IMPLEMENTASI KINERJA KEUANGAN TERHADAP NILAI SPIRITUALITAS PRIBADI

2012 ◽  
Vol 16 (3) ◽  
pp. 332
Author(s):  
Whedy Prasetyo
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Annual Report ◽  
Main Concern ◽  
Good Corporate Governance ◽  
Corporate Social ◽  
The Relationship ◽  
Personal Spirituality

Development of financial performance in the application of Good Corporate Governance and Corporate Social Responsibility which affects the values of honesty private individuals, in order to be able to run the accountability, value for money, fairness in financial management, transparency, control, and free of conflicts of interest (independence). The main concern in this study is focused on achieving value personal spirituality through the financial performance and capabilities of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) in moderating the relationship with the financial performance of value personal spirituality. This study is a descriptive verifikatif. The unit of analysis in this study was 15 companies in Indonesia with a policy that has been applied through the concept since January of 2008 until now, with the support of the annual report of the company, the company's financial statements, company reports to the disclosure of Good Corporate Governance and Corporate Social Responsibility in the annual report. Overall reports published successively during the years 2008-2011. The results of this study indicate financial performance affects the value of personal spirituality, and for variable GCG obtained results that could moderate the relationship of financial performance to the value of personal spirituality. But for the disclosure of CSR variables obtained results can’t moderate the relationship with the financial performance of personal spirituality.

From corporate social responsibility activities to financial performance: role of innovation and competitive advantage

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mahnoor Zahid ◽  
Hina Naeem ◽  
Iqra Aftab ◽  
Sajawal Ali Mughal
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Competitive Advantage ◽  
Manufacturing Firms ◽  
Equation Modeling ◽  
Content Type ◽  
Corporate Social ◽  
The Relationship

Purpose The purpose of this study is to scrutinize the effect of corporate social responsibility activities (CSRA) of the firm on its financial performance (FP) and analyze the mediating role of innovation and competitive advantage (CA) in the relationship between CSRA and FP in the manufacturing sector of an emerging country, i.e. Pakistan. Design/methodology/approach Data has been collected through an electronic structured questionnaire from 300 middle-level and top-level managers by surveying different manufacturing firms of Gujranwala, Pakistan. The study’s hypotheses have been checked by analyzing the reliability and validity of data and applying confirmatory factor analysis and structural equation modeling through statistical package for the social sciences and analysis of moment structures. Findings Outcomes of this study supported the hypothesized model. It has been found that the CSRA plays a significant positive role in determining the FP of the firm. Furthermore, the CA and innovation have been proved as significant mediators between CSRA and FP. Originality/value The first time examining the intermediation of innovation and CA in the relationship between CSRA and FP is the primary input of this study to the literature. Practically, this study’s findings will help strategy makers of manufacturing firms in emerging countries develop better strategies for implementing CSRA, enhancing innovation, seeking CA and improving FP.

Micro-loans and financial performance: a case of a Chinese commercial bank

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jasmine Alam ◽  
Mustapha Ibn Boamah ◽  
Yuheng Liu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Design Methodology ◽  
Annual Reports ◽  
Content Type ◽  
Overall Performance ◽  
Corporate Social ◽  
Corporate Social Responsibility Reports ◽  
The Relationship

Purpose This study aims to investigate the relationship between a commercial bank’s micro-loaning activity and overall performance over a 10-year period. Design/methodology/approach Quarterly data was obtained from the Wind Database, China Minsheng Banks’s official annual reports and annual corporate social responsibility reports from 2009 to 2019, to test the linear relationship between micro-loan activities and the overall financial performance of the bank. Findings The results of this study empirically demonstrate that there is a positive relationship between increases in micro-loaning activity and the overall performance of the bank. Some key recommendations for the sector are shared in the conclusion of this paper. Originality/value In the financial sector, some corporate social responsibility activities focus on the issuance of micro-loans. It is unclear, however, if this has also served as a means to increase profitability and overall performance for such institutions.

scholarly journals Impact of Corporate Political Activity on the Relationship Between Corporate Social Responsibility and Financial Performance: A Dynamic Panel Data Approach

2018 ◽  
Vol 11 (1) ◽  
pp. 60 ◽  
Author(s):  
Woon Lin ◽  
Jo Ho ◽  
Murali Sambasivan
Keyword(s):  
Corporate Social Responsibility ◽  
Panel Data ◽  
Financial Performance ◽  
Dynamic Panel Data ◽  
Political Activity ◽  
Corporate Political Activity ◽  
Dynamic Panel ◽  
Financial Position ◽  
Corporate Social ◽  
The Relationship

As corporate social responsibility (CSR) gains momentum in the business world, it is imperative to comprehend the relationship between CSR and corporate financial performance (CFP). While there is prior research looking at this relationship, scholars have proposed a contingency view that is meant to determine the situational contexts in which critical associations between CFP and CSR activities will arise. This study provides further insight into the moderating effects of corporate political activity, specifying the ways in which different arrangements of corporate CSR and CPA might align or otherwise, thus influencing CFP beyond associated dissimilar effects on corporate performance. The data for this study was obtained for the periods 2007–2016 from the samples selected from the list of Fortune’s World’s Most Admired Companies. The dynamic panel data was analyzed using the System Generalized Method of Moment estimation. The main findings are that CSR does not significantly influence CFP. However, CPA does negatively moderate the relationship between CSR and CFP. This indicates that high political expenditures worsen a firm’s financial position compared to the financial position of firms with less spending on CPA.

scholarly journals Do Employees Matter in the Relationship between Corporate Social Responsibility and Financial Performance?

2019 ◽  
Vol 11 (22) ◽  
pp. 6251 ◽  
Author(s):  
Jae Mee Yoo ◽  
Woojae Choi ◽  
Mi Lim Chon
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Employee Commitment ◽  
Micro Level ◽  
And Performance ◽  
Internal Stakeholders ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

This study investigated the mechanism behind the impact of corporate social responsibility (CSR) on firms’ financial performance while focusing on internal stakeholders. Although many studies have examined the effects of CSR few has empirically investigated the underlying process of the mechanism. In addition, previous research has rarely regarded employees as a link between CSR and firms’ outcomes, despite employees implementing CSR policies. This study explored the pathway of the CSR-employees-firm’s performance. Employee commitment was used to explain the relationship between CSR and performance, since it is an important employee-associated micro-level outcome of CSR. The results showed that CSR indirectly influenced a firm’s accounting profitability through enhanced employee commitment, as well as directly affected firm’s profitability. CSR increases employee commitment, which in turn leads to improvements in a firm’s accounting returns. The paper suggests that employees should be considered as an important agent for the effects of CSR initiatives.

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