Meta-analyses on Corporate Social Responsibility (CSR): a literature review

Abstract

This paper addresses quantitative meta-analyses on corporate governance-related determinants and firms’ (non) financial consequences of Corporate Social Responsibility (CSR). Legitimacy theory as our theoretical framework assumes that, through a social contract, a company must fulfil the respective society’s values and expectations and gain legitimacy. We also rely on the business case argument, assuming a positive relationship between CSR and financial outcomes of the firm. This analysis focusses on 54 quantitative meta-analyses on CSR and includes a structured literature review in order to increase our knowledge, which corporate governance variables and proxies of firm’s (non) financial outcome have been heavily included in archival research, and if there is an overall impact of these variables. Prior meta-analyses indicate that board independence, board gender diversity, and board size have a positive impact on CSR performance. Moreover, both CSR performance and environmental performance increase financial performance. This literature review makes a useful contribution to prior studies by summarizing the overall impact of corporate governance variables on CSR and their (non) financial consequences and by deducing recommendations for future research.

The corporate social responsibility policy in the fulfillment of facilities for workers with disability

“…Corporate Social Responsibility (CSR) strategies in line with the triple bottom line (economic, social, and environmental goals) (Velte, 2021). Chuck Williams states that: "The purpose of companies implementing CSR is to provide the best benefits to stakeholders by fulfilling economic, legal, ethical and policy responsibilities.…”

Does Entrepreneurs’ Darwinian Social Identity Contribute to Business Performance via Corporate Social Responsibility in China? The Role of Entrepreneurs’ Well-Being

“…Some of these studies have attempted to identify how CSR affects business performance and provided empirical evidence on the relationship between corporate behaviors and organizational reputation, competitiveness, and sustainability ( Burke and Logsdon, 1996 ; Porter and Kramer, 2002 ; Johnson, 2003 ; Snider et al, 2003 ). Numerous studies identified that CSR is often an antecedent of financial performance ( Margolis and Walsh, 2003 ; Orlitzky et al, 2003 ; Allouche and Laroche, 2005 ; Van Beurden and Gossling, 2008 ; Moser and Martin, 2012 ; Velte, 2021 ). Furthermore, studies exploring this relationship mostly reported positive results (e.g., Van der Laan et al, 2008 ; Wang et al, 2016 ).…”

Does CSR Affect the Profitability and Valuation of Energy Companies? An Example from Poland

“…The reasons for the success of CSR activities in the form of improved profitability and increased value on the market are most often indicated in the improvement of the image, competitive position, and positive response from customers and stock market investors [77][78][79][80]. Publications emphasize that in order to achieve such an effect, CSR activities should be properly directed and constitute a relatively coherent system, and the environment should be informed about CSR activities [81][82][83].…”