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Strategic Corporate Social Responsibility and Economic Performance

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  • Belu, Constantin

    ()
    (Department of Economics, School of Business, Economics and Law, Göteborg University)

  • Manescu, Cristiana

    ()
    (Department of Economics, School of Business, Economics and Law, Göteborg University)

Abstract

This paper studies the link between Corporate Social Responsibility (CSR) and economic performance of companies. Acknowledging the argument that companies might behave socially responsible strategically, i.e. favoring the CSR dimensions that provide competitive advantages, we construct a novel CSR index based on a Data Envelopment Analysis (DEA) model. We argue that this index accounts for CSR achievements from a strategic perspective, and use it to analyze the link between CSR and economic performance expressed by Return on Assets (ROA). When explicitly accounting for strategic behavior of companies, our findings reveal a significant positive relationship between CSR and economic performance.

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File URL: http://hdl.handle.net/2077/20408
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Bibliographic Info

Paper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 362.

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Length: 26 pages
Date of creation: 11 Jun 2009
Date of revision: 01 Jan 2011
Publication status: Forthcoming as Belu, Constantin and Cristiana Manescu, 'Strategic Corporate Social Responsibility and Economic Performance' in Applied Economics, 2013, pages 2751-2764.
Handle: RePEc:hhs:gunwpe:0362

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research

Keywords: Corporate Social Responsibility; Data Envelopment Analysis; Strategic CSR; System-GMM;

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  1. Eugene F. Fama & Kenneth R. French, . "Forecasting Profitability and Earnings," CRSP working papers 358, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
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  4. Besley, Timothy & Ghatak, Maitreesh, 2007. "Retailing public goods: The economics of corporate social responsibility," Journal of Public Economics, Elsevier, Elsevier, vol. 91(9), pages 1645-1663, September.
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  6. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers, Institute for Fiscal Studies W95/17, Institute for Fiscal Studies.
  7. Elsayed, Khaled & Paton, David, 2005. "The impact of environmental performance on firm performance: static and dynamic panel data evidence," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 16(3), pages 395-412, September.
  8. Donald S. Siegel & Donald F. Vitaliano, 2006. "An Empirical Analysis of the Strategic Use of Corporate Social Responsibility," Rensselaer Working Papers in Economics, Rensselaer Polytechnic Institute, Department of Economics 0602, Rensselaer Polytechnic Institute, Department of Economics.
  9. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, Elsevier, vol. 2(6), pages 429-444, November.
  10. David P. Baron, 2009. "A Positive Theory of Moral Management, Social Pressure, and Corporate Social Performance," Journal of Economics & Management Strategy, Wiley Blackwell, Wiley Blackwell, vol. 18(1), pages 7-43, 03.
  11. R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, INFORMS, vol. 30(9), pages 1078-1092, September.
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Cited by:
  1. Yeh, Shu-Ling & Chen, Yu-Shan & Kao, Yi-Hui & Wu, Sou-Shan, 2014. "Obstacle factors of corporate social responsibility implementation: Empirical evidence from listed companies in Taiwan," The North American Journal of Economics and Finance, Elsevier, Elsevier, vol. 28(C), pages 313-326.

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