Impacts corporate social responsibility activities on company financial performance

Abstract

In the modern commercial era, companies and their managers are subjected to well publicized pressure to play an increasingly active role in society – so called “Corporate social responsibility”. It has been argued that an element in this development is simply enlightened self-interest in that social responsibility enhances corporate image and financial performance. To date the evidence to support this thesis derives from North America. Outside this continent evidence for any relationship is sparse. This study will initially attempt to define the concept of corporate social responsibility and to examine its guiding principles. Subsequently, the available empirical research into the link between corporate social responsibility and economic performance will be evaluated this study examines different impacts of positive and negative CSR activities on financial performance of hotel, restaurant and airline companies, theoretically based on positivity and negativity effects. Findings suggest mixed results across different industries and will contribute to companies’ appropriate strategic decision-making for CSR activities by providing more precise information regarding the impacts of each directional CSR activity on financial performance.

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