Relation of CSR and market measures of financial performance in reference to sector: International evidence
Karolina Daszyńska-Żygadło , Tomasz Słoński , Bartosz Zawadzki
AbstractIn this paper we investigate the relationship between Corporate Social Responsibility performance (CSP) and firms’ financial standing – corporate financial performance (CFP) in ten Global Industry Classification System (GICS) sectors. The analysis of each sector provides unique opportunity of finding these CSR actions which nowadays play the most important role. We use Thomson Reuters ASSET4 ratings in order to proxy the CSR behaviour of 7942 companies from all over the world. We prove that eco-efficiency investments are value destructors in majority of sectors. For corporate governance we find significant results only in five sectors with ambiguous characteristic. Despite of adding the third Social dimension we observe relatively small overall impact of CSR actions on firms’ financial performance.
|Publication size in sheets||0.5|
|Book||Kapounek Svatopluk (eds.): 18th International Scientific Conference “Enterprise and the Competitive Environment”, March 5–6, 2015, Brno, Czech Republic, 2015, Mendel University in Brno, ISBN 9488075093424, 1052 p.|
|Keywords in English||Corporate Social Responsibility performance, financial performance, industry analysis|
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