Relationship between Corporate Social Responsibility and Financial Performance[Relation entre la Responsabilité Sociale des Entreprises et la Performance Financière]

Recently, attention has focused more on the importance of the social component and its contribution to the development of corporates, especially on their economic and financial aspects, where the parties concerned see that social responsibilityis of particular importance which will improve profitability and profitability of their businesses without endangering society. In this regard, this study aims to examine the relationship between Corporate Social Responsibility (CSR) and Financial Performance (FP) which have become two closely related concepts from an academic and practical point of view even if they appear different from each other. To measure the CSR variables, we used the (ESG) criteria, while to measure the CFP, we used the Return On Assets (ROA) financial ratio. These chosen variables have been widely used in previous studies and have confirmed their potential influences on the financial performance of companies. The study is conducted using a quantitative methodology based on the analysis of extra-financial data (ESG) collected from the "Covalence" database and financial data from 154 multinationals. However, the descriptive statistics and the analyzes of the statistical modeling by multiple regression, were carried out using the scientific environment of the development Spyder 4.2.5 for Python. The results of statistical tests carried out to test the validity of the sub-hypotheses putted to confirm the central hypothesis (H1) showed that Social (S) and Governance (G) practices have a positive and statistically significant impact on CSR. Conversely, they reported the absence of a statistically significant linear or complex relationship between Environmental (E) practices and CFP. As a result, the study revealed the existence of a positive and statistically significant relationship between CSR and financial performance, namely that social is profitable. The conclusions drawn from this empirical study are proof that social policies increase financial performance. As a result, the study recommends encouraging companies to double the effort and integrate the social component into their short-term and long-term strategies for the financial benefit it generates for the economic entity.