Preprintgreen2013

The Corporate Social Performance and Corporate Financial Performance Debate: Twenty-Five Years of Incomparable Research

320 citations0/0 files storedSSRN Electronic Journal

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Corporate Social Responsibility Reporting Corporate Identity and Reputation Corporate Governance and Financial Management

Abstract

This article extend earlier research concerning the relationship between corporate social performance and corporate financial performance, with particular emphasis on methodological inconsistencies. Research in this area is extended in three critical areas. First, it focuses on a particular industry, the chemical industry. Second, it use multiple sources of data -- two that are perceptually based (KLD Index and Fortune reputation survey), and two that are performance based (TRI database and corporate philanthropy) in order to triangulate toward assessing corporate social performance. Third, it use the five most commonly applied accounting measures in the corporate social performance and corporate financial performance (CSP/CFP) to assess corporate financial performance. The results indicate that the a priori use of measures may actually predetermine the CSP/CFP relationship outcome. Surprisingly, Fortune and KLD Indices very closely track one another, whereas TRI and corporate philanthropy differentiate between high and low social performers and do not correlate to the firm's financial performance.

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References

1979Mixing Qualitative and Quantitative Methods: Triangulation in Action 1991Corporate Social Performance Revisited 1988CORPORATE SOCIAL RESPONSIBILITY AND FIRM FINANCIAL PERFORMANCE.1985AN EMPIRICAL EXAMINATION OF THE RELATIONSHIP BETWEEN CORPORATE SOCIAL RESPONSIBILITY AND PROFITABILITY.1985Data in Search of a Theory: A Critical Examination of the Relationships Among Social Performance, Social Disclosure, and Economic Performance of U.S. Firms 1984Corporate Social Responsibility and Financial Performance 1985The Evolution of the Corporate Social Performance Model 1987The impact of corporate characteristics on social responsibility disclosure: A typology and frequency-based analysis

Cited by

2011Multinationals and Corporate Social Responsibility in Host Countries: Does Distance Matter?2007How Well Do Social Ratings Actually Measure Corporate Social Responsibility?2015CEO Power, Corporate Social Responsibility, and Firm Value: A Test of Agency Theory 2011Corporate Social Responsibility for Irresponsibility 2006Corporate social responsibility and economic performance

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