IDEAS home Printed from https://ideas.repec.org/a/kap/ecopln/v57y2024i2d10.1007_s10644-024-09656-3.html
   My bibliography  Save this article

RETRACTED ARTICLE: Fostering sustainability: integrating social responsibility, green finance, and corporate performance

Author

Listed:
  • Bing Han

    (Zhanjiang University of Science and Technology
    Zhanjiang University of Science and Technology)

Abstract

This study delves into the interrelationship between corporate social responsibility (CSR) and green finance, investigating their collective impact on corporate performance through a comprehensive survey spanning various industries, business years, and company sizes. Advanced analytical tools, including SmartPLS and SPSS Impact, were employed in this research. The findings highlight that green finance significantly influences CSR performance, elucidating the specific mechanism of this relationship through path analysis and neural network analysis. The results indicate that the implementation of green finance not only facilitates the fulfillment of corporate social responsibilities but also yields positive effects by enhancing corporate brand value, thereby improving customer satisfaction and fostering employee loyalty. This revelation signifies a novel paradigm for enterprise development, accentuating the integration of economic profitability, social responsibility, and environmental protection. Such an approach not only assists companies in establishing a positive brand image but also propels sustainable development and fosters common interests.

Suggested Citation

  • Bing Han, 2024. "RETRACTED ARTICLE: Fostering sustainability: integrating social responsibility, green finance, and corporate performance," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-34, April.
    • Handle: RePEc:kap:ecopln:v:57:y:2024:i:2:d:10.1007_s10644-024-09656-3
    DOI: 10.1007/s10644-024-09656-3
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10644-024-09656-3
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10644-024-09656-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hazwan Haini, 2020. "Examining the relationship between finance, institutions and economic growth: evidence from the ASEAN economies," Economic Change and Restructuring, Springer, vol. 53(4), pages 519-542, November.
    2. David E. Guest & Jonathan Michie & Neil Conway & Maura Sheehan, 2003. "Human Resource Management and Corporate Performance in the UK," British Journal of Industrial Relations, London School of Economics, vol. 41(2), pages 291-314, June.
    3. He, Junnan & Calder, Bobby J., 2020. "The experimental evaluation of brand strength and brand value," Journal of Business Research, Elsevier, vol. 115(C), pages 194-202.
    4. Zhou, Guangyou & Zhu, Jieyu & Luo, Sumei, 2022. "The impact of fintech innovation on green growth in China: Mediating effect of green finance," Ecological Economics, Elsevier, vol. 193(C).
    5. C. Bhattacharya & Daniel Korschun & Sankar Sen, 2009. "Strengthening Stakeholder–Company Relationships Through Mutually Beneficial Corporate Social Responsibility Initiatives," Journal of Business Ethics, Springer, vol. 85(2), pages 257-272, April.
    6. Zhang, Dayong & Zhang, Zhiwei & Managi, Shunsuke, 2019. "A bibliometric analysis on green finance: Current status, development, and future directions," Finance Research Letters, Elsevier, vol. 29(C), pages 425-430.
    7. Yuan-Shuh Lii & Monle Lee, 2012. "Doing Right Leads to Doing Well: When the Type of CSR and Reputation Interact to Affect Consumer Evaluations of the Firm," Journal of Business Ethics, Springer, vol. 105(1), pages 69-81, January.
    8. Ying Guo & LiFang Wang & Yanyu Chen, 2020. "Green Entrepreneurial Orientation and Green Innovation: The Mediating Effect of Supply Chain Learning," SAGE Open, , vol. 10(1), pages 21582440198, January.
    9. Prajogo, Daniel & Olhager, Jan, 2012. "Supply chain integration and performance: The effects of long-term relationships, information technology and sharing, and logistics integration," International Journal of Production Economics, Elsevier, vol. 135(1), pages 514-522.
    10. Mbaye Fall Diallo & Norchène Ben Dahmane Mouelhi & Mahesh Gadekar & Marie Schill, 2021. "CSR Actions, Brand Value, and Willingness to Pay a Premium Price for Luxury Brands: Does Long-Term Orientation Matter?," Journal of Business Ethics, Springer, vol. 169(2), pages 241-260, March.
    11. Bhattarai, Charan Raj & Kwong, Caleb C.Y. & Tasavori, Misagh, 2019. "Market orientation, market disruptiveness capability and social enterprise performance: An empirical study from the United Kingdom," Journal of Business Research, Elsevier, vol. 96(C), pages 47-60.
    12. Cristina Raluca Gh. Popescu & Gheorghe N. Popescu, 2019. "An Exploratory Study Based on a Questionnaire Concerning Green and Sustainable Finance, Corporate Social Responsibility, and Performance: Evidence from the Romanian Business Environment," JRFM, MDPI, vol. 12(4), pages 1-79, October.
    13. Gunday, Gurhan & Ulusoy, Gunduz & Kilic, Kemal & Alpkan, Lutfihak, 2011. "Effects of innovation types on firm performance," International Journal of Production Economics, Elsevier, vol. 133(2), pages 662-676, October.
    14. Liu, Yu & Wei, Zuobao & Xie, Feixue, 2014. "Do women directors improve firm performance in China?," Journal of Corporate Finance, Elsevier, vol. 28(C), pages 169-184.
    15. Carlson, Jamie & Wyllie, Jessica & Rahman, Mohammad M. & Voola, Ranjit, 2019. "Enhancing brand relationship performance through customer participation and value creation in social media brand communities," Journal of Retailing and Consumer Services, Elsevier, vol. 50(C), pages 333-341.
    16. Govindan, Kannan & Kilic, Merve & Uyar, Ali & Karaman, Abdullah S., 2021. "Drivers and value-relevance of CSR performance in the logistics sector: A cross-country firm-level investigation," International Journal of Production Economics, Elsevier, vol. 231(C).
    17. Yu-Shan Chen, 2010. "The Drivers of Green Brand Equity: Green Brand Image, Green Satisfaction, and Green Trust," Journal of Business Ethics, Springer, vol. 93(2), pages 307-319, May.
    18. Aydiner, Arafat Salih & Tatoglu, Ekrem & Bayraktar, Erkan & Zaim, Selim, 2019. "Information system capabilities and firm performance: Opening the black box through decision-making performance and business-process performance," International Journal of Information Management, Elsevier, vol. 47(C), pages 168-182.
    19. Schwartz, Mark S. & Carroll, Archie B., 2003. "Corporate Social Responsibility: A Three-Domain Approach," Business Ethics Quarterly, Cambridge University Press, vol. 13(4), pages 503-530, October.
    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. Miethlich, Boris & Oldenburg, Anett G., 2019. "Social Inclusion Drives Business Sales: A Literature Review on the Case of the Employment of Persons With Disabilities," EconStor Conference Papers 200752, ZBW - Leibniz Information Centre for Economics.
    2. Onyeka Osuji, 2011. "Fluidity of Regulation-CSR Nexus: The Multinational Corporate Corruption Example," Journal of Business Ethics, Springer, vol. 103(1), pages 31-57, September.
    3. Smirti Kutaula & Alvina Gillani & Diana Gregory-Smith & Boris Bartikowski, 2024. "Ethical Consumerism in Emerging Markets: Opportunities and Challenges," Journal of Business Ethics, Springer, vol. 191(4), pages 651-673, May.
    4. Mobin Fatma & Zillur Rahman, 2016. "Consumer responses to CSR in Indian banking sector," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 13(3), pages 203-222, October.
    5. Ghi-Feng Yen & Hui-Chun Tsao, 2020. "Reexamining Consumers’ Cognition and Evaluation of Corporate Social Responsibility via a DANP and IPA Method," Sustainability, MDPI, vol. 12(2), pages 1-26, January.
    6. Hong, Jiangtao & Liao, Yi & Zhang, Yibin & Yu, Zhefu, 2019. "The effect of supply chain quality management practices and capabilities on operational and innovation performance: Evidence from Chinese manufacturers," International Journal of Production Economics, Elsevier, vol. 212(C), pages 227-235.
    7. Nilashi, Mehrbakhsh & Ali Abumalloh, Rabab & Keng-Boon, Ooi & Wei-Han Tan, Garry & Cham, Tat-Huei & Cheng-Xi Aw, Eugene, 2024. "Unlocking sustainable resource management: A comprehensive SWOT and thematic analysis of FinTech with a focus on mineral management," Resources Policy, Elsevier, vol. 92(C).
    8. Cristel Antonia Russell & Dale W. Russell & Heather Honea, 2016. "Corporate Social Responsibility Failures: How do Consumers Respond to Corporate Violations of Implied Social Contracts?," Journal of Business Ethics, Springer, vol. 136(4), pages 759-773, July.
    9. Won‐Moo Hur & Tae‐Won Moon & Hanna Kim, 2020. "When and how does customer engagement in CSR initiatives lead to greater CSR participation? The role of CSR credibility and customer–company identification," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(4), pages 1878-1891, July.
    10. Wolter, Jeremy S. & Bacile, Todd J. & Smith, Jeffery S. & Giebelhausen, Michael, 2019. "The entitlement/forgiveness conflict of self-relevant and self-neutral relationships during service failure and recovery," Journal of Business Research, Elsevier, vol. 104(C), pages 233-246.
    11. Moazzam Abbas & Yongqiang Gao & Sayyed Sadaqat Hussain Shah, 2018. "CSR and Customer Outcomes: The Mediating Role of Customer Engagement," Sustainability, MDPI, vol. 10(11), pages 1-15, November.
    12. Zia ur Rehman & Asad Khan & Asim Rahman, 2020. "Corporate social responsibility's influence on firm risk and firm performance: the mediating role of firm reputation," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(6), pages 2991-3005, November.
    13. T.C. Melewar & Rohail Ashraf & Dwight Merunka, 2013. "The impact of customer‐company identification on consumer reactions to new corporate initiatives," Post-Print hal-01822311, HAL.
    14. Shang, Xiaoting & Niu, Huayong, 2023. "Does the digital transformation of banks affect green credit?," Finance Research Letters, Elsevier, vol. 58(PB).
    15. Won-Moo Hur & Tae-Won Moon & Hanna Kim, 2020. "When does customer CSR perception lead to customer extra-role behaviors? The roles of customer spirituality and emotional brand attachment," Journal of Brand Management, Palgrave Macmillan, vol. 27(4), pages 421-437, July.
    16. Olukorede Adewole, 2022. "“Issues emanating from business impact on climate, environmental sustainability and CSR (Corporate Social Responsibility): steps towards pragmatism in extant realities”: “Brand translation to equity f," International Journal of Corporate Social Responsibility, Springer, vol. 7(1), pages 1-18, December.
    17. Erifili Papista & Athanasios Krystallis, 2013. "Investigating the Types of Value and Cost of Green Brands: Proposition of a Conceptual Framework," Journal of Business Ethics, Springer, vol. 115(1), pages 75-92, June.
    18. Yeunjae Lee, 2020. "Toward a Communality with Employees: The Role of CSR Types and Internal Reputation," Corporate Reputation Review, Palgrave Macmillan, vol. 23(1), pages 13-23, February.
    19. Maziriri E T & Chinomona E, 2016. "Modeling the Influence of Relationship Marketing, Green Marketing and Innovative Marketing on the Business Performance of Small, Medium and Micro Enterprises (SMMES)," Journal of Economics and Behavioral Studies, AMH International, vol. 8(3), pages 127-139.
    20. Mohsin Abdur Rehman & Muhammad Kashif & Michela Mingione, 2019. "Corporate Social Responsibility and Sustainability (CSRS) Initiatives among European and Asian Business Schools: A Web-based Content Analysis," Global Business Review, International Management Institute, vol. 20(5), pages 1231-1247, October.

    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:kap:ecopln:v:57:y:2024:i:2:d:10.1007_s10644-024-09656-3. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.