Corporate Social Responsibility: A Theory of the Firm Perspective

McWilliams, Abagail; Siegel, Donald S.

doi:10.2307/259398

Cited by 2,669 publications

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Section: Methods and Resultssupporting

confidence: 93%

“…The results of Model 1 in Table 3 show a positive but not significant relationship between ROA and the carrying out of CSR activities. These results are in line with those produced by McWilliams and Siegel (1997, 2001 and those by Gil et al (2009), Bajo and Durán (2009), and García-Castro et al (2010 in the case of Spain. Model 2 shows a negative but not significant relationship between financial ROE and the CSR indicator, and this result coincides with those of Aupperle et al (1985), McWilliams and Siegel, (1997, 2001, Angla-Jiménez and Setó-Pamiés (2009), Gil et al (2009), Bajo and Durán (2009), and García-Castro et al (2010 These results show in all cases a neutral relationship between CSR and financial performance, so they are in line with the international results discussed in the previous section.…”

Section: Methods and Resultssupporting

confidence: 90%

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Corporate Social Responsibility and Financial Performance: The Spanish Case

Madorran

Garcia

2016

Rev. adm. empres.

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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.KEYWORDS | Corporate social responsibility, panel data, performance, Spanish firms, IBEX 35. [2003][2004][2005][2006][2007][2008][2009][2010]. Los resultados sugieren que la relación entre responsabilidad social y resultados no es tan obvia, al menos para el caso español. RESUMO O enorme interesse gerado pela responsabilidade social corporativa tanto no mundo acadêmico quanto no empresarial forma o pano de fundo para este estudo. Seu objetivo é analisar a relação entre a responsabilidade social corporativa e o desempenho financeiro em vista do debate existente na literatura sobre o tema. O estudo concentra-se em uma amostra de empresas espanholas tomadas do índice IBEX 35, da bolsa de valores de Madri, utilizando a metodologia de dados em painel, que oferece vantagens em comparação com metodologias utilizadas em outros estudos. Analisamos o período que abrange os anos de 2003 a 2010. Nossas conclusões sugerem que não há relação óbvia entre a responsabilidade social corporativa e os resultados financeiros, ao menos no caso da Espanha. PALAVRAS-CHAVE | Responsabilidade social corporativa, dados em painel, desempenho, empresas espanholas, IBEX 35. RESUMEN El enorme interés que despierta la responsabilidad social corporativa tanto en el ámbito empresarial como académico da sentido a este trabajo. El objetivo del trabajo es analizar la relación entre la responsabilidad social corporativa y sus resultados financieros, ya que existe debate en la literatura académica sobre esta cuestión. La cuestión de análisis se aplica a una muestra de empresas españo-las que cotizan en el IBEX 35, utilizando una metodología de datos de panel que aporta novedades a otros análisis realizados. El período de análisis abarca desde PALABRAS CLAVE | Responsabilidad social corporativa, datos de panel, resultados, empresas españo-las, IBEX 35. RAE-Revista de Administração de Empresas | FGV/EAESPDOI INTRODUCTIONIt is a well-known fact that businesses are currently incorporating corporate social responsibility (henceforth, CSR) criteria into their activities. The demands of a changing environment have led firms to pay ever greater attention to their influence over it, both in economic and social terms and those of the environment.In this context, firms have also been seeking competitive advantages sustainable on a long-term basis in a turb...

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Section: Methods and Resultssupporting

confidence: 93%

Section: Methods and Resultssupporting

confidence: 90%

Corporate Social Responsibility and Financial Performance: The Spanish Case

Madorran

Garcia

2016

Rev. adm. empres.

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“…The lack of a solid theoretical foundation repeatedly emerges as the reason why the empirical works have not resulted in the convergence of knowledge (Aragó n-Correa and Sharma, 2003;McWilliams and Siegel, 2001). Our contribution made in this study has been to state explicitly and test the path process between the different variables in our model.…”

Section: Discussionmentioning

confidence: 99%

The whole relationship between environmental variables and firm performance: Competitive advantage and firm resources as mediator variables

López‐Gamero

Molina‐Azorín

Claver‐Cortés

2009

Journal of Environmental Management

315

239

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a b s t r a c tThe examination of the possible direct link between environmental protection and firm performance in the literature has generally produced mixed results. The present paper contributes to the literature by using the resource-based view as a mediating process in this relationship. The study specifically tests whether or not the resource-based view of the firm mediates the positive relationships of proactive environmental management and improved environmental performance with competitive advantage, which also has consequences for financial performance. We also check the possible link between the adoption of a pioneering approach and good environmental management practices. Our findings support that early investment timing and intensity in environmental issues impact on the adoption of a proactive environmental management, which in turn helps to improve environmental performance. The findings also show that a firm's resources and competitive advantage act as mediator variables for a positive relationship between environmental protection and financial performance. This contribution is original because the present paper develops a comprehensive whole picture of this path process, which has previously only been partially discussed in the literature. In addition, this study clarifies a relevant point in the literature, namely that the effect of environmental protection on firm performance is not direct and can vary depending on the sector considered. Whereas competitive advantage in relation to costs influences financial performance in the IPPC law sector, the relevant influence in the hotel sector comes from competitive advantage through differentiation.

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“…A broad body of literature evolved around different aspects of responsible corporate behavior focusing on various corporate functions and academic disciplines such as management, marketing or supply chain management (cf., Closs, Speier, and Meacham 2011;McWilliams and Siegel 2001;Seuring and Mueller 2008). The concept of corporate social responsibility (CSR) is characterized by a broad variety of definitions (McWilliams and Siegel 2001) within and across research disciplines and has morphed significantly. In his research, Carroll (1999) referred to numerous definitions of CSR and the development of the term over time.…”

Section: Literature Reviewmentioning

confidence: 99%