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Can corporate Social Responsibility Contribute to Bankruptcy Prediction? Evidence from Croatia

Author

Listed:
  • Galant Adriana
  • Zenzerović Robert

    (1 Juraj Dobrila University of Pula, Faculty of Economics and Tourism “Dr. Mijo Mirković”, Pula, Croatia)

Abstract

Companies are becoming aware of the fact that corporate social responsibility (CSR) is becoming the imperative of their sustainable business model despite the potential costs it could generate. Researchers are mostly focused on estimating the relationship between CSR and financial performance where most of the findings indicate their positive relationship. This paper expands existing research and focuses on the relationship between CSR and the risk of bankruptcy using the data from 102 midsize and large companies from non-financial sectors using the data for four years. Research expands existing studies on the EU level according to the fact that most of the existing studies are performed among US companies.

Suggested Citation

  • Galant Adriana & Zenzerović Robert, 2023. "Can corporate Social Responsibility Contribute to Bankruptcy Prediction? Evidence from Croatia," Organizacija, Sciendo, vol. 56(3), pages 173-183, August.
    • Handle: RePEc:vrs:organi:v:56:y:2023:i:3:p:173-183:n:5
    DOI: 10.2478/orga-2023-0012
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