Corporate Social Responsibility and Value Creation - Determinants and Mutual Relationships in a Sample of European Listed Firms

Corporate Social Responsibility in Western Europe: An Institutional Mirror or Substitute?

“…Many pressures for firms to adopt CSR practices manifest themselves at the level of industrial sector (Beliveau et al, 1994;Venanzi and Fidanza, 2006). Since firms operating in the same industry face similar challenges, common CSR patterns and regulations are likely to develop, affecting CSR standards and forcing CSR policies implemented by firms in those industries to converge.…”

Useful information for stakeholder engagement: A multivariate proposal of an Industrial Corporate Social Responsibility Practices Index

“…However, several authors have revealed that the sector of activity to which a company belongs can be defined as the organizational field from which institutional pressures arise (Aerts, Cormier, & Magnan, 2006), many of which are aimed at companies adopting CSR practices (Venanzi & Fidanza, 2006). As companies operating in the same sector face similar challenges, they are likely to develop common CSR rules and standards, with a convergence in levels of commitment to sustainability.…”

Exploring the Impact of Legal Systems and Financial Structure on Corporate Responsibility

“…The problem of bias could not be excluded, especially when considering CSR ratings that reflect governance and human resources as well as human rights issues. Whereas companies in common law countries are expected to perform better on governance issues (for empirical evidence, see Venanzi and Fidanza, 2006), companies in civil and German civil law countries and Scandinavia are traditionally considered to perform better on human resources issues (Jones and Haigh, 2007). This leads to zero sum ratings, with legal systems influencing corporate social ratings but achieving similar social rating averages.…”