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Innovation and CSR Impact on Financial Performance of Selected Companies in Mexico

Author

Listed:
  • Rocío Durán-Vázquez

    (Department of Finance and Accounting, Universidad de las Américas Puebla)

  • Arturo Lorenzo-Valdés

    (Department of Finance and Accounting, Universidad de las Américas Puebla)

  • G. Einar Moreno-Quezada

    (Department of Finance and Accounting, Universidad de las Américas Puebla)

Abstract

This study analyzes the behavior of the companies in the index of México’s Precios y Cotizaciones (IPC), with respect to measures of financial performance and its relationship with the two main approaches of innovation, according to the Bogota and Oslo manuals; assessing their impact on the stock price. The data is used on a quarterly basis from January 2000 to December 2011. It also makes reference to the impact of having the distinction “Socially Responsible Company” (Corporate Social Responsibility), in the Mexican stock market price reaction. Our main interest is to be pioneers in the search for relationships between topics that are currently treated as “alien” (CSR and Innovation) in formal academic publications, but we intuitively know that they are related inside organizations.

Suggested Citation

  • Rocío Durán-Vázquez & Arturo Lorenzo-Valdés & G. Einar Moreno-Quezada, 2012. "Innovation and CSR Impact on Financial Performance of Selected Companies in Mexico," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 8(3), pages 5-20.
    • Handle: RePEc:aae:journl:v:8:y:2012:i:3:p:5-20
    DOI: 10.7341/2012831
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    References listed on IDEAS

    as
    1. Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
    2. Collins, Daniel W. & Maydew, Edward L. & Weiss, Ira S., 1997. "Changes in the value-relevance of earnings and book values over the past forty years," Journal of Accounting and Economics, Elsevier, vol. 24(1), pages 39-67, December.
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    Cited by:

    1. Cláudia Ferreira Leitão & Jorge Gomes & Denise Capela dos Santos & Bruno Melo Maia, 2021. "Impact of Leadership on the Relationship Between Innovation and Performance: Portuguese Hotel Sector," International Journal of Tourism and Hospitality Management in the Digital Age (IJTHMDA), IGI Global, vol. 5(2), pages 29-49, July.
    2. Tebogo Sethibe & Renier Steyn, 2016. "Organizational Climate, Innovation and Performance: A Systematic Review," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 2(2), pages 161-174, July.

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