Corporate social responsibility: Doing well by doing good

Falck, Oliver; Heblich, Stephan

doi:10.1016/j.bushor.2006.12.002

Cited by 366 publications

(237 citation statements)

References 7 publications

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“…According to Falck and Heblich [18], the instrumental approach can provide the firm with advantages to identify trends or market changes, enabling it to act swiftly in order to stabilize itself and be in the vanguard of change. It can also help firms to proactively construct competences via the analysis of their skills, processes, and systems.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Performance of Socially Responsible Firms: The Short- and Long-Term Impact

2017

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Abstract:The pressure of society for firms to adopt socially responsible behavior is evident. Yet, Corporate Social Responsibility (CSR) needs an economic justification. In response to this, there exists a comprehensive literature that analyzes the possible relation between social and business financial performance. During the last decade, the literature has been heading toward the carrying out of dynamic studies as researches find that the relationship between social and financial performance is not static. The purpose of this work is to analyze the relevance for the financial performance of Spanish listed firms of maintaining their responsible behavior. To do so, we carry out a comparison between two analyses-one cross-sectional, and the other longitudinal-to be able to conclude whether or not adopting responsible criteria makes a difference in business financial performance in the short and long-term. Some of the results obtained in the cross-sectional study are consolidated in the long-term study. In this sense, responsible firms exhibit a higher systematic risk and have greater size. As a conclusion, be responsible does not mean less stock profitability or a lower business result. It certainly contributes to firms continuing to voluntarily incorporate good corporate social responsibility practices into their business models. What is more, these results support the governmental policies and initiatives that bolster corporate social responsibility.

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Section: Literature Reviewmentioning

confidence: 99%

Financial Performance of Socially Responsible Firms: The Short- and Long-Term Impact

2017

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“…Given resources and objectives, the assumption is that the firm is generally unable to meet any social instances. Consequently, the emerging of a prioritization process of CSR domains overlaps with a stakeholder management approach (Bansal et al, 2015) in order "to answer the question of which stakeholders should be considered and… how much is at stake" (Falck & Heblich, 2007). Therefore, an ex-ante selection activity conducted by company represents what Porter and Kramer called the "acid test" for assessing the presence or absence of an effective CSR strategy (Porter & Kramer, 2006) whic h aims at addressing social issues, while providing the organization with some business benefits (Bhattacharyya et al, 2008).…”

Section: Governance Modes Of Strategic Csrmentioning

confidence: 99%

“Make” or “Buy” the Choice of Governance Modes for Corporate Social Responsibility Projects from a Stakeholder Management Perspective

Gangi¹,

D’Angelo²

2017

IBR

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The organization of corporate social responsibility (CSR) initiatives deals with a "make" or "buy" trade-off among in-house solutions instead of a partial (collaboration) or total (outsourcing) externalization of such activities. This article aims to advance the knowledge of the criteria underlying the governance modes of CSR. In particular, integrating the organizational economics with the insights provided by the stakeholder management, the study deepens the reasons why primary stakeholders, such as human resources (HR) and customers, may affect the choice to internalize the governance of CSR projects. Findings are consistent with the theoretical framework. In fact, internal solutions are more likely for CSR initiatives addressed to HR and customers. Given the direct linkage of these stakeholders with the achievement of the company's mission, results corroborate the concept of closeness of CSR actions with respect to the firm's core business as driver of in-house projects.

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“…In furthering the concept of organization "value" Fairbrass (2006) harks back to the neo-classical economists such as Friedman (1962) and also notes Carroll's (1999) view that social goals are valuable in their own right and not subordinate to economic goals. These historical views of CSR can be categorized into three areas (Falck & Heblich, 2007) (Furrer et al, 2010). On the other hand, individuals in Central and Eastern European countries are less willing to sacrifice future opportunities to personal prosperity for the sake of social values.…”

Section: Scope Of Csrmentioning

confidence: 99%

“…Equally, this can be traced to levels of responsibility expected of business (Falck & Heblich, 2007). For example, Málovics et al (2009) categorize CSR into "must responsibilities" that are couched in legal minimums, "should responsibilities" that are derived from societal norms, and "can responsibilities" that move beyond legal minimums and social expectations.…”

Section: Legislationmentioning

confidence: 99%

Ecological Systems Theory Approach to Corporate Social Responsibility: Contextual Perspectives From Meeting Planners

Musgrave¹,

Woodward²

2016

Event Management

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Corporate social responsibility: Doing well by doing good

Cited by 366 publications

References 7 publications

Financial Performance of Socially Responsible Firms: The Short- and Long-Term Impact

Financial Performance of Socially Responsible Firms: The Short- and Long-Term Impact

“Make” or “Buy” the Choice of Governance Modes for Corporate Social Responsibility Projects from a Stakeholder Management Perspective

Ecological Systems Theory Approach to Corporate Social Responsibility: Contextual Perspectives From Meeting Planners

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