Value-Enhancing Capabilities of CSR: A Brief Review of Contemporary Literature
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Cites background from "Value-Enhancing Capabilities of CSR..."
...3 only been strengthened over the years (Malik, 2015)....
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...Both previous literature reviews (Malik, 2015; Margolis and Walsh, 2003) and meta-analyses (Friede, Busch, and Bassen, 2015; Lu and Taylor, 2016; Margolis et al., 2009; Orlitzky et al., 2003) document that the majority of studies in this field bring forward evidence of this positive link, with a…...
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...Both previous literature reviews (Malik, 2015; Margolis and Walsh, 2003) and meta-analyses (Friede, Busch, and Bassen, 2015; Lu and Taylor, 2016; Margolis et al....
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References
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"Value-Enhancing Capabilities of CSR..." refers background in this paper
...Though some scholars have argued that there is a negative association or no clear association at all between CSR and a firm’s financial performance (Friedman, 1970; Griffin & Mahon, 1997; Waddock & Graves, 1997; Harrison & Freeman, 1999; McWilliams & Siegel, 2000), the majority of prior research…...
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...Though some scholars have argued that there is a negative association or no clear association at all between CSR and a firm’s financial performance (Friedman, 1970; Griffin & Mahon, 1997; Waddock & Graves, 1997; Harrison & Freeman, 1999; McWilliams & Siegel, 2000), the majority of prior research demonstrates that CSR and firm performance are positively associated (Porter & Kramer, 2002; Saiia et al....
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...In recent years, significant numbers of companies, regardless of their size and ownership structure, are investing millions of dollars in CSR activities, and these firms are proclaiming their CSR credentials by producing stand-alone CSR reports (KPMG 2011). 2 If CSR activities have a negative impact or no impact at all on firm value, then managers would not be interested in investing in and reporting upon their socially responsible actions in such a vigorous manner. Since CSR investments and CSR reporting are increasing, these trends imply that managers are encouraged to pursue CSR activities due to their positive effects on firms. While analyzing the demand side of CSR disclosures, Buzby & Falk (1978) found that the majority of mutual funds use CSR information when formulating their investment policies....
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...Though some scholars have argued that there is a negative association or no clear association at all between CSR and a firm’s financial performance (Friedman, 1970; Griffin & Mahon, 1997; Waddock & Graves, 1997; Harrison & Freeman, 1999; McWilliams & Siegel, 2000), the majority of prior research demonstrates that CSR and firm performance are positively associated (Porter & Kramer, 2002; Saiia et al., 2003; Brammer & Millington, 2005; Godfrey, 2005; Orlitzky et al., 2003; Roman et al., 1999, etc.). Researchers have clearly documented that socially responsible firms outperform less socially responsible firms in terms of various accounting measures including return on investment (ROI), return on assets (ROA), and return on sales (ROS) (Cochran & Wood, 1984; Nehrt, 1996; Porter & van der Linde, 1995). In a recent commentary, Moser and Martin (2012) discussed a comprehensive meta-analysis of 251 studies that examined the association between CSR and firm performance....
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...Though some scholars have argued that there is a negative association or no clear association at all between CSR and a firm’s financial performance (Friedman, 1970; Griffin & Mahon, 1997; Waddock & Graves, 1997; Harrison & Freeman, 1999; McWilliams & Siegel, 2000), the majority of prior research demonstrates that CSR and firm performance are positively associated (Porter & Kramer, 2002; Saiia et al., 2003; Brammer & Millington, 2005; Godfrey, 2005; Orlitzky et al., 2003; Roman et al., 1999, etc.). Researchers have clearly documented that socially responsible firms outperform less socially responsible firms in terms of various accounting measures including return on investment (ROI), return on assets (ROA), and return on sales (ROS) (Cochran & Wood, 1984; Nehrt, 1996; Porter & van der Linde, 1995). In a recent commentary, Moser and Martin (2012) discussed a comprehensive meta-analysis of 251 studies that examined the association between CSR and firm performance. In that meta-analysis, the authors Margolis et al. (2009) concluded that the overall association between CSR and firm performance is positive....
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6,493 citations
"Value-Enhancing Capabilities of CSR..." refers result in this paper
...…1997; Harrison & Freeman, 1999; McWilliams & Siegel, 2000), the majority of prior research demonstrates that CSR and firm performance are positively associated (Porter & Kramer, 2002; Saiia et al., 2003; Brammer & Millington, 2005; Godfrey, 2005; Orlitzky et al., 2003; Roman et al., 1999, etc.)....
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6,265 citations
"Value-Enhancing Capabilities of CSR..." refers background in this paper
...Finance researchers have widely measured the value of the equity by discounting the future cash flows, based on Miller and Modigliani’s (1961) arguments....
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5,922 citations
"Value-Enhancing Capabilities of CSR..." refers background in this paper
...…there is a negative association or no clear association at all between CSR and a firm’s financial performance (Friedman, 1970; Griffin & Mahon, 1997; Waddock & Graves, 1997; Harrison & Freeman, 1999; McWilliams & Siegel, 2000), the majority of prior research demonstrates that CSR and firm…...
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...So, as previously mentioned, superior quality CSR performance positively affects the value of the firm, not only in the short term, but also in the long run (McGuire et al., 1988; Waddock & Graves, 1997; Luo & Bhattacharya, 2009; Eccles et al., 2013)....
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5,403 citations
"Value-Enhancing Capabilities of CSR..." refers background in this paper
...Carroll (1999) discusses the ambiguity and evolution of the definition of CSR: “The term [social responsibility] is a brilliant one; it means something, but not always the same thing, to everybody....
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...The other group of researchers defines CSR 7 as a company’s discretionary multidimensional activities, which include social, political, environmental, economic and ethical actions (Carroll, 1999; Devinney, 2009)....
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