IDEAS home Printed from https://ideas.repec.org/a/aio/fpvfcf/v1y2023i25p37-45.html
   My bibliography  Save this article

Assessing the Impact of Corporate Social Responsibility on Financial Performance. The Healthcare Industry

Author

Listed:
  • Loredana-Georgia IVAN (NIÈšU)

    (University of Craiova)

Abstract

This paper aims to investigate how the social performance of companies in a controversial sector influences their financial performance, illustrating the effects of the total social score and how the four components contribute to this relationship. To increase their financial success without eroding social and environmental capital, healthcare organizations are setting new targets for sustainable practices. The main objective of this research, which covers 103 healthcare companies, is to highlight the link between financial performance, as measured by return on assets, and nonfinancial sustainability, as measured by the social performance score. In the complexity of the results, a pronounced relationship between ROA and the human rights score can be observed. The study enhances the ability to understand the link between socialsustainability implications and financial performance in a sustainability-sensitive industry.

Suggested Citation

  • Loredana-Georgia IVAN (NIÈšU), 2023. "Assessing the Impact of Corporate Social Responsibility on Financial Performance. The Healthcare Industry," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(25), pages 37-45, November.
  • Handle: RePEc:aio:fpvfcf:v:1:y:2023:i:25:p:37-45
    as

    Download full text from publisher

    File URL: https://feaa.ucv.ro/finance/fisiere/revista/9291472035.%20Ivan%20(Nitu).pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Irene Wei Kiong Ting & Noor Azlinna Azizan & Rajesh Kumar Bhaskaran & Sujit K Sukumaran, 2019. "Corporate Social Performance and Firm Performance: Comparative Study among Developed and Emerging Market Firms," Sustainability, MDPI, vol. 12(1), pages 1-21, December.
    2. Huiyuan Liu & Kaiyao Wu & Qiuhua Zhou, 2022. "Whether and How ESG Impacts on Corporate Financial Performance in the Yangtze River Delta of China," Sustainability, MDPI, vol. 14(24), pages 1-17, December.
    3. Tiago Cruz Gonçalves & Victor Barros & José Vicente Avelar, 2023. "Environmental, social and governance scores in Europe: what drives financial performance for larger firms?," Economics and Business Letters, Oviedo University Press, vol. 12(2), pages 121-131.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eva Daniela Cvik & Radka MacGregor Pelikánová, 2021. "The Significance of CSR During COVID-19 Pandemic in the Luxury Fashion Industry - A Front-Line Case Study," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 7(1), pages 109-126.
    2. Thi Ngan Pham & Phung Phi Tran & Minh-Hieu Le & Hoang Nhi Vo & Cong Dat Pham & Hai-Dang Nguyen, 2022. "The Effects of ESG Combined Score on Business Performance of Enterprises in the Transportation Industry," Sustainability, MDPI, vol. 14(14), pages 1-17, July.
    3. Yusheng Kong & Andrew Agyemang & Noha Alessa & Maxwell Kongkuah, 2023. "The Moderating Role of Technological Innovation on Environment, Social, and Governance (ESG) Performance and Firm Value: Evidence from Developing and Least-Developed Countries," Sustainability, MDPI, vol. 15(19), pages 1-16, September.
    4. Radka MacGregor Pelikánová & Robert K. MacGregor, 2020. "The EU Puzzling CSR Regime and the Confused Perception by Ambassadors of Luxury Fashion Businesses: A Case Study from Pařížská," Central European Business Review, Prague University of Economics and Business, vol. 2020(3), pages 74-108.
    5. Bai, Min & Ho, Ly, 2022. "Corporate social performance and firm debt levels: Impacts of the covid-19 pandemic and institutional environments," Finance Research Letters, Elsevier, vol. 47(PB).
    6. Saeed, Asif & Alnori, Faisal & Yaqoob, Gohar, 2023. "Corporate social responsibility, industry concentration, and firm performance: Evidence from emerging Asian economies," Research in International Business and Finance, Elsevier, vol. 64(C).
    7. Martin Hála & Radka MacGregor Pelikánová & Filip Rubáček, 2024. "Negative Determinants of CSR Support by Generation Z in Central Europe: Gender-Sensitive Impacts of Infodemic in 'COVID-19' Era," Central European Business Review, Prague University of Economics and Business, vol. 2024(2), pages 89-115.
    8. Wafa Ghardallou & Noha Alessa, 2022. "Corporate Social Responsibility and Firm Performance in GCC Countries: A Panel Smooth Transition Regression Model," Sustainability, MDPI, vol. 14(13), pages 1-21, June.
    9. Radka MacGregor Pelikánová & Martin Hála, 2021. "CSR Unconscious Consumption by Generation Z in the COVID-19 Era—Responsible Heretics Not Paying CSR Bonus?," JRFM, MDPI, vol. 14(8), pages 1-19, August.
    10. Jin Zhu & Fei Huang, 2023. "Transformational Leadership, Organizational Innovation, and ESG Performance: Evidence from SMEs in China," Sustainability, MDPI, vol. 15(7), pages 1-23, March.
    11. Paitoon Varadejsatitwong & Ruth Banomyong & Puthipong Julagasigorn, 2022. "A Proposed Performance-Measurement System for Enabling Supply-Chain Strategies," Sustainability, MDPI, vol. 14(19), pages 1-25, September.
    12. Qi Zhang & Lawrence Loh & Weiwei Wu, 2020. "How do Environmental, Social and Governance Initiatives Affect Innovative Performance for Corporate Sustainability?," Sustainability, MDPI, vol. 12(8), pages 1-18, April.
    13. Radka MacGregor Pelikánová & Tereza Němečková & Robert K. MacGregor, 2021. "CSR Statements in International and Czech Luxury Fashion Industry at the Onset and during the COVID-19 Pandemic—Slowing Down the Fast Fashion Business?," Sustainability, MDPI, vol. 13(7), pages 1-19, March.

    More about this item

    Keywords

    social performance; ROA; sustainability; health sector;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aio:fpvfcf:v:1:y:2023:i:25:p:37-45. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alina Manta (email available below). General contact details of provider: https://edirc.repec.org/data/fecraro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.