Journal ArticleDOI
Corporate Social Responsibility and Firm Financial Performance
TLDR
This paper analyzed the relationship between perceptions of firms' corporate social responsibility and measures of their financial performance and found that a firm's prior performance, assessed by both stock-market returns and accounting-based measures, is more closely related to corporate social concern than is subsequent performance.Abstract:
Using Fortune magazine's ratings of corporate reputations, we analyzed the relationships between perceptions of firms’ corporate social responsibility and measures of their financial performance. Results show that a firm's prior performance, assessed by both stock-market returns and accounting-based measures, is more closely related to corporate social responsibility than is subsequent performance. Results also show that measures of risk are more closely associated with social responsibility than previous studies have suggested.read more
Citations
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Journal ArticleDOI
The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications
Thomas Donaldson,Lee E. Preston +1 more
TL;DR: In this article, the authors examine three aspects of the stakeholder theory and critique and integrate important contributions to the literature related to each, concluding that the three aspects are mutually supportive and that the normative base of the theory-which includes the modern theory of property rights-is fundamental.
Journal ArticleDOI
Corporate Social and Financial Performance: A Meta-Analysis
TL;DR: This article conducted a meta-analysis of 52 studies and found that corporate virtue in the form of social responsibility and, to a lesser extent, environmental responsibility is likely to pay off, although the operationalizations of CSP and CFP also moderate the positive association.
Journal ArticleDOI
The corporate social performance-financial performance link
Sandra Waddock,Samuel B. Graves +1 more
TL;DR: In this article, the authors report the results of a rigorous study of the empirical linkages between financial and social performance, finding that corporate social performance (CSP) is positively associated with prior financial performance, supporting the theory that slack resource availability and CSP are positively related.
Journal ArticleDOI
What's in a Name? Reputation Building and Corporate Strategy
Charles J. Fombrun,Mark Shanley +1 more
TL;DR: In this article, the authors argue that firms compete for reputational status in institutional fields and attempt to influence other stakeholders' assessments by signaling firms' salient advantages by signaling their salient advantages.
Journal ArticleDOI
Misery Loves Companies: Rethinking Social Initiatives by Business:
TL;DR: The authors argue that companies are increasingly asked to provide innovative solutions to deep-seated problems of human misery, even as economic theory instructs managers to focus on maximizing their shareholders' wealt.
References
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Journal ArticleDOI
The External Control of Organizations.
Journal ArticleDOI
Data in Search of a Theory: A Critical Examination of the Relationships Among Social Performance, Social Disclosure, and Economic Performance of U.S. Firms
TL;DR: Inconsistent findings have resulted from studies of the relationships among social disclosure, social performance, and economic performance of U.S. corporations as discussed by the authors, and the main reasons for these inconsistencies are: (a) a lack in theory, (b) inappropriate definition of key terms, and (c) deficiencies in the empirical data base currently available.
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An Empirical Examination of the Relationship between Corporate Social Responsibility and Profitability
TL;DR: Although there has been considerable research into the relationship between corporate social responsibility and profitability, it has frequently reflected either an ideological bias or limited meth... as discussed by the authors, it has often reflected either a bias or a limited meth
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Corporate Social Responsibility and Financial Performance
Philip L. Cochran,Robert A. Wood +1 more
TL;DR: In this paper, the relationship between corporate social responsibility and financial performance is reexamined using a new methodology, improved technique, and industry-specific control groups, and the average age of corporate assets is found to be highly correlated with social responsibility ranking.
Journal ArticleDOI
Corporate Social Responsibility and Stock Market Performance
TL;DR: In this paper, the authors examined the relationship between social responsibility and stock market performance of corporations in the U.S. for the period 1970-1974 and found that risk measures and differential returns of the...