Notice of Retraction: An Empirical Study of Corporate Financial Performance and Corporate Social Responsibility: Evidence from the Service Industry of Zhejiang Province

Exploring the Relationship between Corporate Governance, Corporate Social Responsibility and Financial and Non-Financial Reporting: A Study of Large Companies in Greece

“…The study by Mittal et al (2008) on the listed companies of the Indian stock exchange and the S&P CNX Nifty index showed the positive correlation with the added market value; however, a negative correlation with the weighted average cost of capital index does not lead to firm conclusions. In the same direction are studies by López et al (2007) for listed companies in the Dow Jones Sustainability Index and Dow Jones Global Index, Li et al (2009) for listed companies in the Shanghai Stock Exchange in the services sector, Zhu (2011) for the Korean Stock Exchange, etc. The studies that support a negative correlation between CSR and a firm's financial performance are those that basically study the short-term financial benefits of firms.…”

“…Many scholars have chosen to link CSR to the financial and economic performance of companies, directing their research to listed companies and stock market indices. In this approach we find several studies on different countries and different stock exchanges that conclude a positive correlation between CSR and financial performance (see among others the study by López et al (2007) on listed companies in the Dow Jones Sustainability Index and Dow Jones Global Index, Li et al (2009) for Shanghai Stock Exchange listed companies, Nareswari et al (2022) for the Indonesian stock exchange and Karagiorgos (2010) and Ziogas and Metaxas (2021) for Greek listed companies). However, there are also those that show a negative correlation, such as Harjoto (2007) and Nelling and Webb (2009), or do not reach firm conclusions.…”