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Sources of variation in linking corporate social responsibility and financial performance

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  • Ali Quazi
  • Alice Richardson

Abstract

Purpose - This purpose of this paper is to identify the possible sources of variation of results in prior studies linking corporate social responsibility (CSR) with corporate financial performance (CFP). Design/methodology/approach - A meta‐analysis was performed on 51 prior studies included in Orlitzkyet al.in order to ensure compatibility with previous results. The meta‐analysis is based on sub‐groups of papers in five‐year time intervals focusing on sample size and methodology employed as the sources of variation concerning the nexus between CSR and CFP. Findings - The major finding of the study is that sample size and methodology are significant sources of variation in measuring the link between CSR and CFP. Research limitations/implications - The findings are likely to help develop a structural framework towards broadening and deepening our understanding of the debate regarding the sources of variation in the measurement of CSR and CFP link. This research is limited to papers published up to 1999 as included in Orlitzkyet al.Future research can update the findings by using data beyond 1999. Originality/value - This paper can be considered an advance on the previous research as it contributes to broadening our understanding of the possible source of causes of variation in results of studies linking CSR with CFP.

Suggested Citation

  • Ali Quazi & Alice Richardson, 2012. "Sources of variation in linking corporate social responsibility and financial performance," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 8(2), pages 242-256, June.
    • Handle: RePEc:eme:srjpps:v:8:y:2012:i:2:p:242-256
    DOI: 10.1108/17471111211234860
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    Citations

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    Cited by:

    1. Ionica Oncioiu & Anca-Gabriela Petrescu & Florentina-Raluca Bîlcan & Marius Petrescu & Melinda Timea Fülöp & Dan Ioan Topor, 2020. "The Influence of Corporate Governance Systems on a Company’s Market Value," Sustainability, MDPI, vol. 12(8), pages 1-15, April.
    2. Blasi, Silvia & Caporin, Massimiliano & Fontini, Fulvio, 2018. "A Multidimensional Analysis of the Relationship Between Corporate Social Responsibility and Firms' Economic Performance," Ecological Economics, Elsevier, vol. 147(C), pages 218-229.
    3. Cristian Carini & Nicola Comincioli & Laura Poddi & Sergio Vergalli, 2017. "Measure the Performance with the Market Value Added: Evidence from CSR Companies," Sustainability, MDPI, vol. 9(12), pages 1-19, November.
    4. Prakash J. Singh & Kannan Sethuraman & Jocelin Y. Lam, 2017. "Impact of Corporate Social Responsibility Dimensions on Firm Value: Some Evidence from Hong Kong and China," Sustainability, MDPI, vol. 9(9), pages 1-24, August.
    5. Agneta Sundström & Zahra Ahmadi, 2019. "The Mediating Role of CSR on the Market Orientation and Strategic Performance Relationship—A Study of the Public Housing Companies in Sweden," Sustainability, MDPI, vol. 11(6), pages 1-18, March.
    6. Bryl Łukasz, 2020. "Intangible assets in the process of internationalization," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 56(1), pages 63-78, March.
    7. Ionica Oncioiu & Delia-Mioara Popescu & Anca Elena Aviana & Alina Șerban & Florica Rotaru & Mihai Petrescu & Andreea Marin-Pantelescu, 2020. "The Role of Environmental, Social, and Governance Disclosure in Financial Transparency," Sustainability, MDPI, vol. 12(17), pages 1-16, August.
    8. Li, Chao & Wu, Mian & Chen, Xi & Huang, Wenli, 2022. "Environmental, social and governance performance, corporate transparency, and credit rating: Some evidence from Chinese A-share listed companies," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    9. Ali Alshehhi & Haitham Nobanee & Nilesh Khare, 2018. "The Impact of Sustainability Practices on Corporate Financial Performance: Literature Trends and Future Research Potential," Sustainability, MDPI, vol. 10(2), pages 1-25, February.
    10. Camelia Oprean-Stan & Ionica Oncioiu & Iulia Cristina Iuga & Sebastian Stan, 2020. "Impact of Sustainability Reporting and Inadequate Management of ESG Factors on Corporate Performance and Sustainable Growth," Sustainability, MDPI, vol. 12(20), pages 1-31, October.
    11. Md. Nurun Nabi & Mst. Marium Akter & Ahashan Habib & Abdullah Al Masud & Subrata Kumer Pal, 2021. "Influence of CSR stakeholders on the textile firms performances:The mediating role of organizational legitimacy," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(8), pages 25-38, December.
    12. Govindan, Kannan & Rajeev, A. & Padhi, Sidhartha S. & Pati, Rupesh K., 2020. "Supply chain sustainability and performance of firms: A meta-analysis of the literature," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 137(C).
    13. Pascal Nguyen & Anna Nguyen, 2015. "The effect of corporate social responsibility on firm risk," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 11(2), pages 324-339, June.
    14. María del Mar Miras‐Rodríguez & Amalia Carrasco‐Gallego & Bernabé Escobar‐Pérez, 2015. "Are Socially Responsible Behaviors Paid Off Equally? A Cross‐cultural Analysis," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 22(4), pages 237-256, July.
    15. Mahmoud Abdulai Mahmoud & Charles Blankson & Robert E. Hinson, 2017. "Market orientation and corporate social responsibility: towards an integrated conceptual framework," International Journal of Corporate Social Responsibility, Springer, vol. 2(1), pages 1-15, December.
    16. Malgorzata Wegrzynska, 2021. "Linking of Financial Data with Non-Financial Information on CSR of Companies Listed on the Warsaw Stock Exchange," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 851-873.

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