Corporate Social Responsibility – Analysing Social and Financial Performance The Case of Romania
Our paper emphasizes the strategic importance of CSR both for companies and society as well. A comprehensive literature review reflects the challenges mainly associated with two different approaches: CSR as a profitable business practice that consolidates a good corporate image, or CSR as an inefficient way of using corporate resources, negatively correlated with financial performance. Our paper brings theoretical and practical evidence proving that CSR improves the business commercial and financial performance; certain correlations should be established between social and financial indicators. As a case study, we analyze an international company on the Romanian market that has increased its business performance by adopting different CSR measures.
References listed on IDEAS
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- Paul C. Godfrey & Nile W. Hatch, 2007. "Researching Corporate Social Responsibility: An Agenda for the 21st Century," Journal of Business Ethics, Springer, vol. 70(1), pages 87-98, January.
- Salzmann, Oliver & Ionescu-somers, Aileen & Steger, Ulrich, 2005. "The Business Case for Corporate Sustainability:: Literature Review and Research Options," European Management Journal, Elsevier, vol. 23(1), pages 27-36, February.
- Ronald Hill & Thomas Ainscough & Todd Shank & Daryl Manullang, 2007. "Corporate Social Responsibility and Socially Responsible Investing: A Global Perspective," Journal of Business Ethics, Springer, vol. 70(2), pages 165-174, January.
- Irina Iamandi, 2007. "Corporate Social Responsibility and Social Responsiveness in a Global Business Environment. A Comparative Theoretical Approach," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 10(23), pages 3-18, June.
- Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
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