IDEAS home Printed from https://ideas.repec.org/a/wly/corsem/v30y2023i3p1258-1272.html
   My bibliography  Save this article

The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance

Author

Listed:
  • Francisco Javier Forcadell
  • Antonio Lorena
  • Elisa Aracil

Abstract

Since stakeholders cannot directly observe corporate social responsibility (CSR) efforts, companies attempt to back up their increasing sustainability claims by sending CSR signals. The environment in which signaling takes place influences the credibility of the signals. Among the factors that make up the signaling environment, the overall exposure of the company to different stakeholders (i.e., stakeholder scrutiny) has been neglected by the literature. Using signaling and stakeholder theories, we argue how stakeholder scrutiny shapes CSR signals' credibility. We empirically analyze a sample of 5762 firms across several sectors from 23 developed countries from 2013 to 2017. Stakeholder scrutiny exercises a positive effect on the credibility of CSR signals through a mediated‐moderated impact of CSR (across environmental, social, and governance dimensions) on firm performance.

Suggested Citation

  • Francisco Javier Forcadell & Antonio Lorena & Elisa Aracil, 2023. "The firm under the spotlight: How stakeholder scrutiny shapes corporate social responsibility and its influence on performance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1258-1272, May.
    • Handle: RePEc:wly:corsem:v:30:y:2023:i:3:p:1258-1272
    DOI: 10.1002/csr.2417
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/csr.2417
    Download Restriction: no
    File URL: https://libkey.io/10.1002/csr.2417?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
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Tamas Barko & Martijn Cremers & Luc Renneboog, 2022. "Shareholder Engagement on Environmental, Social, and Governance Performance," Journal of Business Ethics, Springer, vol. 180(2), pages 777-812, October.
    2. Donald D. Bergh & Brian L. Connelly & David J. Ketchen Jr & Lu M. Shannon, 2014. "Signalling Theory and Equilibrium in Strategic Management Research: An Assessment and a Research Agenda," Journal of Management Studies, Wiley Blackwell, vol. 51(8), pages 1334-1360, December.
    3. Michael Spence, 2002. "Signaling in Retrospect and the Informational Structure of Markets," American Economic Review, American Economic Association, vol. 92(3), pages 434-459, June.
    4. Thomas Lyon & A. Montgomery, 2013. "Tweetjacked: The Impact of Social Media on Corporate Greenwash," Journal of Business Ethics, Springer, vol. 118(4), pages 747-757, December.
    5. Bertrand P. Quéré & Geneviève Nouyrigat & C. Richard Baker, 2018. "Erratum to: A Bi-Directional Examination of the Relationship Between Corporate Social Responsibility Ratings and Company Financial Performance in the European Context," Journal of Business Ethics, Springer, vol. 148(3), pages 545-547, March.
    6. Richard A. Bettis & Constance E. Helfat & J. Myles Shaver & Xiaoping Zhao & Audrey J. Murrell, 2016. "Revisiting the corporate social performance-financial performance link: A replication of Waddock and Graves," Strategic Management Journal, Wiley Blackwell, vol. 37(11), pages 2378-2388, November.
    7. Manfred Moldaschl & Dirk Fischer, 2004. "Beyond the Management View: A Ressource-Centered Socio-Economic Perspective," management revue. Socio-economic Studies, Rainer Hampp Verlag, vol. 15(1), pages 122-151.
    8. Dirk Boehe & Luciano Barin Cruz, 2010. "Corporate Social Responsibility, Product Differentiation Strategy and Export Performance," Journal of Business Ethics, Springer, vol. 91(2), pages 325-346, February.
    9. Timothy Kiessling & Lars Isaksson & Burze Yasar, 2016. "Market Orientation and CSR: Performance Implications," Journal of Business Ethics, Springer, vol. 137(2), pages 269-284, August.
    10. Marc Orlitzky & Céline Louche & Jean-Pascal Gond & Wendy Chapple, 2017. "Unpacking the Drivers of Corporate Social Performance: A Multilevel, Multistakeholder, and Multimethod Analysis," Journal of Business Ethics, Springer, vol. 144(1), pages 21-40, August.
    11. El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck C.Y. & Mishra, Dev R., 2011. "Does corporate social responsibility affect the cost of capital?," Journal of Banking & Finance, Elsevier, vol. 35(9), pages 2388-2406, September.
    12. Haemin Dennis Park & Pankaj C. Patel, 2015. "How Does Ambiguity Influence IPO Underpricing? The Role of the Signalling Environment," Journal of Management Studies, Wiley Blackwell, vol. 52(6), pages 796-818, September.
    13. Fabrizio Zerbini, 2017. "CSR Initiatives as Market Signals: A Review and Research Agenda," Journal of Business Ethics, Springer, vol. 146(1), pages 1-23, November.
    14. Bertrand Quere & Geneviève Nouyrigat & C. Richard Baker, 2018. "A Bi-Directional Examination of the Relationship Between Corporate Social Responsibility Ratings and Company Financial Performance in the European Context," Post-Print hal-02013902, HAL.
    15. Maretno Harjoto & Indrarini Laksmana & Robert Lee, 2015. "Board Diversity and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 132(4), pages 641-660, December.
    16. Emanuele L. M. Bettinazzi & Maurizio Zollo, 2022. "Stakeholder Orientation and Experiential Learning: Evidence from Corporate Acquisitions," Journal of Management Studies, Wiley Blackwell, vol. 59(6), pages 1422-1459, September.
    17. Vicentiu M. Covrig & Mark L. Defond & Mingyi Hung, 2007. "Home Bias, Foreign Mutual Fund Holdings, and the Voluntary Adoption of International Accounting Standards," Journal of Accounting Research, Wiley Blackwell, vol. 45(1), pages 41-70, March.
    18. Juana M. Rivera & Maria J. Muñoz & Jose M. Moneva, 2017. "Revisiting the Relationship Between Corporate Stakeholder Commitment and Social and Financial Performance," Sustainable Development, John Wiley & Sons, Ltd., vol. 25(6), pages 482-494, November.
    19. Benlemlih, Mohammed, 2019. "Corporate social responsibility and dividend policy," Research in International Business and Finance, Elsevier, vol. 47(C), pages 114-138.
    20. Nuttaneeya Torugsa & Wayne O’Donohue & Rob Hecker, 2012. "Capabilities, Proactive CSR and Financial Performance in SMEs: Empirical Evidence from an Australian Manufacturing Industry Sector," Journal of Business Ethics, Springer, vol. 109(4), pages 483-500, September.
    21. Sandra A. Waddock & Samuel B. Graves, 1997. "The Corporate Social Performance–Financial Performance Link," Strategic Management Journal, Wiley Blackwell, vol. 18(4), pages 303-319, April.
    22. Jacob Brower & Vijay Mahajan, 2013. "Driven to Be Good: A Stakeholder Theory Perspective on the Drivers of Corporate Social Performance," Journal of Business Ethics, Springer, vol. 117(2), pages 313-331, October.
    23. Saeidi, Sayedeh Parastoo & Sofian, Saudah & Saeidi, Parvaneh & Saeidi, Sayyedeh Parisa & Saaeidi, Seyyed Alireza, 2015. "How does corporate social responsibility contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction," Journal of Business Research, Elsevier, vol. 68(2), pages 341-350.
    24. Stephen J. Brammer & Stephen Pavelin, 2006. "Corporate Reputation and Social Performance: The Importance of Fit," Journal of Management Studies, Wiley Blackwell, vol. 43(3), pages 435-455, May.
    25. Dima Jamali, 2008. "A Stakeholder Approach to Corporate Social Responsibility: A Fresh Perspective into Theory and Practice," Journal of Business Ethics, Springer, vol. 82(1), pages 213-231, September.
    26. Oksana Seroka‐Stolka & Kamil Fijorek, 2022. "Linking stakeholder pressure and corporate environmental competitiveness: The moderating effect of ISO 14001 adoption," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1663-1675, September.
    27. Zyglidopoulos, Stelios C. & Georgiadis, Andreas P. & Carroll, Craig E. & Siegel, Donald S., 2012. "Does media attention drive corporate social responsibility?," Journal of Business Research, Elsevier, vol. 65(11), pages 1622-1627.
    28. Hui-Cheng Yu & Lopin Kuo & Mao-Feng Kao, 2017. "The relationship between CSR disclosure and competitive advantage," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 8(5), pages 547-570, November.
    29. Tingting Zhang & Zhengyi Zhang & Jingyu Yang, 2022. "When Does Corporate Social Responsibility Backfire in Acquisitions? Signal Incongruence and Acquirer Returns," Journal of Business Ethics, Springer, vol. 175(1), pages 45-58, January.
    30. Josefina L. Murillo‐Luna & Concepción Garcés‐Ayerbe & Pilar Rivera‐Torres, 2008. "Why do patterns of environmental response differ? A stakeholders' pressure approach," Strategic Management Journal, Wiley Blackwell, vol. 29(11), pages 1225-1240, November.
    31. Pushpika Vishwanathan & Hans (J.) van Oosterhout & Pursey P. M. A. R. Heugens & Patricio Duran & Marc van Essen, 2020. "Strategic CSR: A Concept Building Meta‐Analysis," Journal of Management Studies, Wiley Blackwell, vol. 57(2), pages 314-350, March.
    32. Liqi Yi & Tao Li & Xiangyi Wang & Gentana Ge & Ting Zhang, 2022. "Corporate social responsibility performance evaluation from the perspective of stakeholder heterogeneity based on fuzzy analytical hierarchy process integrated TOPSIS," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 918-935, July.
    33. Jiang, Guoliang Frank & Jung, Jae C. & Makino, Shige, 2020. "Parent Firm Corporate Social Responsibility and Overseas Subsidiary Performance: A Signaling Perspective," Journal of World Business, Elsevier, vol. 55(6).
    34. Weichieh Su & Mike W. Peng & Weiqiang Tan & Yan-Leung Cheung, 2016. "The Signaling Effect of Corporate Social Responsibility in Emerging Economies," Journal of Business Ethics, Springer, vol. 134(3), pages 479-491, March.
    35. Jordi Surroca & Josep A. Tribó & Sandra Waddock, 2010. "Corporate responsibility and financial performance: the role of intangible resources," Strategic Management Journal, Wiley Blackwell, vol. 31(5), pages 463-490, May.
    36. Manfred Moldaschl & Dirk Fischer, 2004. "Beyond the Management View: A Ressource-Centered Socio-Economic Perspective," management revue - Socio-Economic Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 15(1), pages 122-151.
    37. Pierre Chollet & Blaise Sandwidi, 2018. "CSR engagement and financial risk: A virtuous circle? International evidence," Post-Print hal-02048716, HAL.
    38. Pascual Berrone & Andrea Fosfuri & Liliana Gelabert, 2017. "Does Greenwashing Pay Off? Understanding the Relationship Between Environmental Actions and Environmental Legitimacy," Journal of Business Ethics, Springer, vol. 144(2), pages 363-379, August.
    39. Jonathan P. Doh & Terrence R. Guay, 2006. "Corporate Social Responsibility, Public Policy, and NGO Activism in Europe and the United States: An Institutional‐Stakeholder Perspective," Journal of Management Studies, Wiley Blackwell, vol. 43(1), pages 47-73, January.
    40. Christopher Wickert, 2021. "Corporate Social Responsibility Research in the Journal of Management Studies: A Shift from a Business‐Centric to a Society‐Centric Focus," Journal of Management Studies, Wiley Blackwell, vol. 58(8), pages 1-17, December.
    41. Jyotirani Gupta & Niladri Das, 2022. "Multidimensional corporate social responsibility disclosure and financial performance: A meta‐analytical review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 731-748, July.
    42. Christopher Marquis & Michael W. Toffel & Yanhua Zhou, 2016. "Scrutiny, Norms, and Selective Disclosure: A Global Study of Greenwashing," Organization Science, INFORMS, vol. 27(2), pages 483-504, April.
    43. Ioannis Ioannou & George Serafeim, 2012. "What drives corporate social performance? The role of nation-level institutions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 43(9), pages 834-864, December.
    44. Hui-Cheng Yu & Lopin Kuo & Mao-Feng Kao, 2017. "The relationship between CSR disclosure and competitive advantage," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 8(5), pages 547-570, November.
    45. Samuel Drempetic & Christian Klein & Bernhard Zwergel, 2020. "The Influence of Firm Size on the ESG Score: Corporate Sustainability Ratings Under Review," Journal of Business Ethics, Springer, vol. 167(2), pages 333-360, November.
    46. Krishna Raj Bhandari & Mikko Ranta & Jari Salo, 2022. "The resource‐based view, stakeholder capitalism, ESG, and sustainable competitive advantage: The firm's embeddedness into ecology, society, and governance," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1525-1537, May.
    47. Pornsit Jiraporn & Napatsorn Jiraporn & Adisak Boeprasert & Kiyoung Chang, 2014. "Does Corporate Social Responsibility (CSR) Improve Credit Ratings? Evidence from Geographic Identification," Financial Management, Financial Management Association International, vol. 43(3), pages 505-531, September.
    48. Douglas A. Bosse & Robert A. Phillips & Jeffrey S. Harrison, 2009. "Stakeholders, reciprocity, and firm performance," Strategic Management Journal, Wiley Blackwell, vol. 30(4), pages 447-456, April.
    49. Witold J. Henisz & Sinziana Dorobantu & Lite J. Nartey, 2014. "Spinning gold: The financial returns to stakeholder engagement," Strategic Management Journal, Wiley Blackwell, vol. 35(12), pages 1727-1748, December.
    50. Bertrand P. Quéré & Geneviève Nouyrigat & C. Richard Baker, 2018. "A Bi-Directional Examination of the Relationship Between Corporate Social Responsibility Ratings and Company Financial Performance in the European Context," Journal of Business Ethics, Springer, vol. 148(3), pages 527-544, March.
    51. Janet Adams & Armen Tashchian & Ted Shore, 2001. "Codes of Ethics as Signals for Ethical Behavior," Journal of Business Ethics, Springer, vol. 29(3), pages 199-211, February.
    52. Peter J. Lane & Michael Lubatkin, 1998. "Relative absorptive capacity and interorganizational learning," Post-Print hal-02311860, HAL.
    53. Frank de Bakker & Dirk Matten & Laura Spence & Christopher Wickert, 2020. "The Elephant in the Room: The Nascent Research Agenda on Corporations, Social Responsibility, and Capitalism," Post-Print hal-02992710, HAL.
    54. Clyde Eiríkur Hull & Sandra Rothenberg, 2008. "Firm performance: the interactions of corporate social performance with innovation and industry differentiation," Strategic Management Journal, Wiley Blackwell, vol. 29(7), pages 781-789, July.
    55. Isabel Lourenço & Jeffrey Callen & Manuel Branco & José Curto, 2014. "The Value Relevance of Reputation for Sustainability Leadership," Journal of Business Ethics, Springer, vol. 119(1), pages 17-28, January.
    56. Heather Dixon-Fowler & Daniel Slater & Jonathan Johnson & Alan Ellstrand & Andrea Romi, 2013. "Beyond “Does it Pay to be Green?” A Meta-Analysis of Moderators of the CEP–CFP Relationship," Journal of Business Ethics, Springer, vol. 112(2), pages 353-366, January.
    57. Chollet, Pierre & Sandwidi, Blaise W., 2018. "CSR engagement and financial risk: A virtuous circle? International evidence," Global Finance Journal, Elsevier, vol. 38(C), pages 65-81.
    58. Jonathan Luffarelli & Amrou Awaysheh, 2018. "The Impact of Indirect Corporate Social Performance Signals on Firm Value: Evidence from an Event Study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(3), pages 295-310, May.
    59. Thomas Thijssens & Laury Bollen & Harold Hassink, 2015. "Secondary Stakeholder Influence on CSR Disclosure: An Application of Stakeholder Salience Theory," Journal of Business Ethics, Springer, vol. 132(4), pages 873-891, December.
    60. Richard H. Lester & S. Trevis Certo & Catherine M. Dalton & Dan R. Dalton & Albert A. Cannella, 2006. "Initial Public Offering Investor Valuations: An Examination of Top Management Team Prestige and Environmental Uncertainty," Journal of Small Business Management, Taylor & Francis Journals, vol. 44(1), pages 1-26, January.
    61. R. Edward Freeman & Andrew C. Wicks & Bidhan Parmar, 2004. "Stakeholder Theory and “The Corporate Objective Revisited”," Organization Science, INFORMS, vol. 15(3), pages 364-369, June.
    62. Zhi Tang & Clyde Eiríkur Hull & Sandra Rothenberg, 2012. "How Corporate Social Responsibility Engagement Strategy Moderates the CSR–Financial Performance Relationship," Journal of Management Studies, Wiley Blackwell, vol. 49(7), pages 1274-1303, November.
    63. Ya‐Ching Lee, 2020. "Communicating sustainable development: Effects of stakeholder‐centric perceived sustainability," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(4), pages 1540-1551, July.
    64. Carmelo Reverte, 2009. "Determinants of Corporate Social Responsibility Disclosure Ratings by Spanish Listed Firms," Journal of Business Ethics, Springer, vol. 88(2), pages 351-366, August.
    65. Lee, Eun Mi & Park, Seong-Yeon & Lee, Hyun Jung, 2013. "Employee perception of CSR activities: Its antecedents and consequences," Journal of Business Research, Elsevier, vol. 66(10), pages 1716-1724.
    66. Teece, David J., 1980. "Economies of scope and the scope of the enterprise," Journal of Economic Behavior & Organization, Elsevier, vol. 1(3), pages 223-247, September.
    67. Luis Perez-Batres & Jonathan Doh & Van Miller & Michael Pisani, 2012. "Stakeholder Pressures as Determinants of CSR Strategic Choice: Why do Firms Choose Symbolic Versus Substantive Self-Regulatory Codes of Conduct?," Journal of Business Ethics, Springer, vol. 110(2), pages 157-172, October.
    68. Julia Wolf, 2014. "The Relationship Between Sustainable Supply Chain Management, Stakeholder Pressure and Corporate Sustainability Performance," Journal of Business Ethics, Springer, vol. 119(3), pages 317-328, February.
    69. Paul C. Godfrey & Craig B. Merrill & Jared M. Hansen, 2009. "The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis," Strategic Management Journal, Wiley Blackwell, vol. 30(4), pages 425-445, April.
    70. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(3), pages 355-374.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xue, Qinyuan & Jin, Yifei & Zhang, Cheng, 2024. "ESG rating results and corporate total factor productivity," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    2. Simphiwe Lincon Hlophe & Debbie Ellis, 2024. "Changing consumer attitudes to make the Corporate Social Responsibility investment in sustainable fish production, a worthwhile investment to corporates," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 344-356, January.
    3. Ubeda, Fernando & Mendez, Alvaro & Forcadell, Francisco Javier & López, Belén, 2024. "How socially sustainable multinational banks promote financial inclusion in developing countries," LSE Research Online Documents on Economics 124260, London School of Economics and Political Science, LSE Library.

    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. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    2. Shantanu Dutta & Supriya Katti & B. V. Phani & Pengcheng Zhu, 2022. "Corporate social responsibility spending as a building block for sustainable corporate ethical identity: Lessons from Indian business groups," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(3), pages 696-717, April.
    3. Monica Singhania & Dimple Gupta, 2024. "Impact of Environmental, Social and Governance (ESG) disclosure on firm risk: A meta‐analytical review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 3573-3613, July.
    4. Yongyi Shou & Xueshu Shan & Jinan Shao & Kee-hung Lai & Qing Zhou, 2024. "How Do Foreign SMEs Mitigate Violent Conflict Risk by Doing Good? An Instrumental Stakeholder Theory Perspective," Journal of Business Ethics, Springer, vol. 192(2), pages 407-422, June.
    5. Tobias Bauckloh & Stefan Schaltegger & Sebastian Utz & Sebastian Zeile & Bernhard Zwergel, 2023. "Active First Movers vs. Late Free-Riders? An Empirical Analysis of UN PRI Signatories’ Commitment," Journal of Business Ethics, Springer, vol. 182(3), pages 747-781, January.
    6. Iram Hasan & Shveta Singh & Smita Kashiramka, 2022. "Does corporate social responsibility disclosure impact firm performance? An industry-wise analysis of Indian firms," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(8), pages 10141-10181, August.
    7. Jacob Brower & Peter A. Dacin, 2020. "An Institutional Theory Approach to the Evolution of the Corporate Social Performance – Corporate Financial Performance Relationship," Journal of Management Studies, Wiley Blackwell, vol. 57(4), pages 805-836, June.
    8. Kais Bouslah & Abdelmajid Hmaittane & Lawrence Kryzanowski & Bouchra M’Zali, 2023. "CSR Structures: Evidence, Drivers, and Firm Value Implications," Journal of Business Ethics, Springer, vol. 185(1), pages 115-145, June.
    9. Raja Abid, 2023. "Corporate social (ir)responsibility towards employees and financial performance: using time to solve the chicken-egg problem," Review of Managerial Science, Springer, vol. 17(2), pages 635-659, February.
    10. Lin, Woon Leong & Law, Siong Hook & Ho, Jo Ann & Sambasivan, Murali, 2019. "The causality direction of the corporate social responsibility – Corporate financial performance Nexus: Application of Panel Vector Autoregression approach," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 401-418.
    11. Chen, Chung-Jen & Guo, Ruey-Shan & Hsiao, Yung-Chang & Chen, Kuo-Liang, 2018. "How business strategy in non-financial firms moderates the curvilinear effects of corporate social responsibility and irresponsibility on corporate financial performance," Journal of Business Research, Elsevier, vol. 92(C), pages 154-167.
    12. Ozgur Ozdemir & Fatemeh Binesh & Ezgi Erkmen, 2022. "The effect of target’s CSR performance on M&A deal premiums: a case for service firms," Review of Managerial Science, Springer, vol. 16(4), pages 1001-1034, May.
    13. Jennifer J. Griffin & Yoo Na Youm, 2018. "Voluntarily Disclosing Prosocial Behaviors in Korean Firms," Journal of Business Ethics, Springer, vol. 153(4), pages 1017-1030, December.
    14. Franck Brulhart & Sandrine Gherra & Bertrand V. Quelin, 2019. "Do Stakeholder Orientation and Environmental Proactivity Impact Firm Profitability?," Journal of Business Ethics, Springer, vol. 158(1), pages 25-46, August.
    15. Shin, Jiyoung & Moon, Jon Jungbien & Kang, Jingoo, 2023. "Where does ESG pay? The role of national culture in moderating the relationship between ESG performance and financial performance," International Business Review, Elsevier, vol. 32(3).
    16. Daewoung Choi & Hyunju Shin & Kyoungmi Kim, 2023. "CEO’s Childhood Experience of Natural Disaster and CSR Activities," Journal of Business Ethics, Springer, vol. 188(2), pages 281-306, November.
    17. Hasan, Mostafa Monzur & Wong, Jin Boon & Al Mamun, Mohammed Abdullah, 2022. "Oil shocks and corporate social responsibility," Energy Economics, Elsevier, vol. 107(C).
    18. Giovanni Catello Landi & Francesca Iandolo & Antonio Renzi & Andrea Rey, 2022. "Embedding sustainability in risk management: The impact of environmental, social, and governance ratings on corporate financial risk," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 1096-1107, July.
    19. José M. Brotons & Manuel E. Sansalvador, 2020. "The relation between corporate social responsibility certification and financial performance: An empirical study in Spain," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(3), pages 1465-1477, May.
    20. Saridakis, Charalampos & Angelidou, Sofia & Woodside, Arch G., 2023. "How historical and social aspirations reshape the relationship between corporate financial performance and corporate social responsibility," Journal of Business Research, Elsevier, vol. 157(C).

    More about this item

    JEL classification:

    • J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - 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:wly:corsem:v:30:y:2023:i:3:p:1258-1272. 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: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1535-3966 .

    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.