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Corporate Social Responsibility as a Voluntary Initiative But a Mandatory Non-financial Reporting Link Between the Social and Financial Performance of Romanian Companies

In: Current Issues in Corporate Social Responsibility

Author

Listed:
  • Marian Siminica

    (University of Craiova)

  • Mirela Sichigea (Ganea)

    (University of Craiova)

Abstract

This chapter covers the issue of social responsibility in a double sense: a pragmatic research on how Romanian companies publish information on social responsibility and an empiric research on the connection between the social (CSR) and financial performance of companies (CFP). The conclusion drawn from the study of the official websites of 665 companies shows quite a low interest in CSR reporting. The link between CSR and CFP was only analysed for companies identified as publishing non-financial information. A linear regression model with a numeric endogenous variable (the turnover index, IT) and a dummy exogenous variable (CSR, with value 1 - for involvement in CSR projects; 0 - for non-involvement in CSR projects). The results of tests show a very weak connection between IT and CSR, with a slight trend to disfavour companies showing CSR-related concerns, compared to those who do not have such a focus.

Suggested Citation

  • Marian Siminica & Mirela Sichigea (Ganea), 2018. "Corporate Social Responsibility as a Voluntary Initiative But a Mandatory Non-financial Reporting Link Between the Social and Financial Performance of Romanian Companies," CSR, Sustainability, Ethics & Governance, in: Samuel O. Idowu & Catalina Sitnikov & Dalia Simion & Claudiu George Bocean (ed.), Current Issues in Corporate Social Responsibility, pages 77-96, Springer.
    • Handle: RePEc:spr:csrchp:978-3-319-70449-4_6
    DOI: 10.1007/978-3-319-70449-4_6
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    Cited by:

    1. George H. Ionescu & Daniela Firoiu & Ramona Pîrvu & Roxana Bădîrcea & Cristian Drăgan, 2018. "Implementation of Integrated Management Systems and Corporate Social Responsibility Initiatives—A Romanian Hospitality Industry Perspective," Sustainability, MDPI, vol. 10(10), pages 1-15, October.
    2. Valentina Vasile & Mirela Panait & Paolo Piciocchi & Maria Antonella Ferri & Maria Palazzo, 2022. "Performance management and sustainable development: an exploration of non-financial performance of companies with foreign capital in Romania," Italian Journal of Marketing, Springer, vol. 2022(3), pages 371-400, September.

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