IDEAS home Printed from https://ideas.repec.org/a/vrs/subboe/v70y2025i1p33-50n1002.html
   My bibliography  Save this article

Green HRM and CSR as Antecedents of Organisation Financial Growth

Author

Listed:
  • Becea Lavinia-Mihaela

    (Babeș-Bolyai University, Romania)

  • Osoian Codruta

    (Babeș-Bolyai University, Romania)

Abstract

This paper aims to examine the impact of green HRM and corporate social responsibility on financial performance growth, measured by profit, revenue, ROA, and ROE growth. To test the hypotheses, we employed ordinary least squares (OLS) regression analysis. The findings revealed that green HRM is a significant predictor of growth indicators, including profit, ROA, and ROE. Furthermore, contrary to our expectations, the implementation of CSR practices negatively impacts the firm’s potential for economic growth. The empirical evidence shows that CSR is positively associated only with revenue growth. This study contributes to the literature by examining the debated impact of green HRM and CSR on financial performance growth while also offering valuable insights for practitioners and policymakers.

Suggested Citation

  • Becea Lavinia-Mihaela & Osoian Codruta, 2025. "Green HRM and CSR as Antecedents of Organisation Financial Growth," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 70(1), pages 33-50.
    • Handle: RePEc:vrs:subboe:v:70:y:2025:i:1:p:33-50:n:1002
    DOI: 10.2478/subboec-2025-0002
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/subboec-2025-0002
    Download Restriction: no
    File URL: https://libkey.io/10.2478/subboec-2025-0002?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Rafael Triguero-Sánchez & Jesús C. Peña-Vinces & Mercedes Sánchez-Apellániz, 2013. "Hierarchical distance as a moderator of HRM practices on organizational performance," International Journal of Manpower, Emerald Group Publishing Limited, vol. 34(7), pages 794-812, November.
    2. Hamann, P. Maik & Schiemann, Frank, 2021. "Organizational performance as a set of four dimensions: An empirical analysis," Journal of Business Research, Elsevier, vol. 127(C), pages 45-65.
    3. Inyong Shin & Won-Moo Hur & Seongho Kang, 2016. "Employees’ Perceptions of Corporate Social Responsibility and Job Performance: A Sequential Mediation Model," Sustainability, MDPI, vol. 8(5), pages 1-12, May.
    4. Muzammel Shah, 2019. "Green human resource management: Development of a valid measurement scale," Business Strategy and the Environment, Wiley Blackwell, vol. 28(5), pages 771-785, July.
    5. Andrea Stanaland & May Lwin & Patrick Murphy, 2011. "Consumer Perceptions of the Antecedents and Consequences of Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 102(1), pages 47-55, August.
    6. Maury, Benjamin, 2022. "Strategic CSR and firm performance: The role of prospector and growth strategies," Journal of Economics and Business, Elsevier, vol. 118(C).
    7. Delmar, Frederic & Davidsson, Per & Gartner, William B., 2003. "Arriving at the high-growth firm," Journal of Business Venturing, Elsevier, vol. 18(2), pages 189-216, March.
    8. Yusmani Mohd Yusoff & Mehran Nejati & Daisy Mui Hung Kee & Azlan Amran, 2020. "Linking Green Human Resource Management Practices to Environmental Performance in Hotel Industry," Global Business Review, International Management Institute, vol. 21(3), pages 663-680, June.
    9. Khawaja Fawad Latif & Aymen Sajjad & Rabia Bashir & Muhammad Bilal Shaukat & Muhammad Bilal Khan & Umar Farooq Sahibzada, 2020. "Revisiting the relationship between corporate social responsibility and organizational performance: The mediating role of team outcomes," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(4), pages 1630-1641, July.
    10. Susan E. Jackson & Douglas W. S. Renwick & Charbel J. C. Jabbour & Michael Muller-Camen, 2011. "State-of-the-Art and Future Directions for Green Human Resource Management: Introduction to the Special Issue," Zeitschrift fuer Personalforschung. German Journal of Research in Human Resource Management, Rainer Hampp Verlag, vol. 25(2), pages 99-116.
    11. Casey Ichniowski & Kathryn Shaw & Giovanna Prennushi, 1995. "The Effects of Human Resource Management Practices on Productivity," NBER Working Papers 5333, National Bureau of Economic Research, Inc.
    12. Don Y. Lee & Eric W. K. Tsang, 2001. "The effects of entrepreneurial personality, background and network activities on venture growth," Journal of Management Studies, Wiley Blackwell, vol. 38(4), pages 583-602, June.
    13. Chih-Wei Lin & Wei Peng Tan & Su-Shiang Lee & Tso-Yen Mao & Baogui Xin, 2021. "Is the Improvement of CSR Helpful in Business Performance? Discussion of the Interference Effects of Financial Indicators from a Financial Perspective," Complexity, Hindawi, vol. 2021, pages 1-9, November.
    14. Marc Vilanova & Josep Lozano & Daniel Arenas, 2009. "Exploring the Nature of the Relationship Between CSR and Competitiveness," Journal of Business Ethics, Springer, vol. 87(1), pages 57-69, April.
    15. Camelia-Daniela Hategan & Nicoleta Sirghi & Ruxandra-Ioana Curea-Pitorac & Vasile-Petru Hategan, 2018. "Doing Well or Doing Good: The Relationship between Corporate Social Responsibility and Profit in Romanian Companies," Sustainability, MDPI, vol. 10(4), pages 1-23, April.
    16. Baruch Lev & Christine Petrovits & Suresh Radhakrishnan, 2010. "Is doing good good for you? how corporate charitable contributions enhance revenue growth," Strategic Management Journal, Wiley Blackwell, vol. 31(2), pages 182-200, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Partanen, Jukka & Kohtamäki, Marko & Patel, Pankaj C. & Parida, Vinit, 2020. "Supply chain ambidexterity and manufacturing SME performance: The moderating roles of network capability and strategic information flow," International Journal of Production Economics, Elsevier, vol. 221(C).
    2. Besnik A. Krasniqi & Muhamet Mustafa, 2016. "Small firm growth in a post-conflict environment: the role of human capital, institutional quality, and managerial capacities," International Entrepreneurship and Management Journal, Springer, vol. 12(4), pages 1165-1207, December.
    3. Ayala, Juan-Carlos & Manzano, Guadalupe, 2014. "The resilience of the entrepreneur. Influence on the success of the business. A longitudinal analysis," Journal of Economic Psychology, Elsevier, vol. 42(C), pages 126-135.
    4. José Moleiro Martins & Hira Aftab & Mário Nuno Mata & Muhammad Ussama Majeed & Sumaira Aslam & Anabela Batista Correia & Pedro Neves Mata, 2021. "Assessing the Impact of Green Hiring on Sustainable Performance: Mediating Role of Green Performance Management and Compensation," IJERPH, MDPI, vol. 18(11), pages 1-18, May.
    5. Ekin Akdeniz, 2023. "Toward a Sustainable Human Resources Management: Linking Green Human Resources Management Activities with ISO Standards," SAGE Open, , vol. 13(3), pages 21582440231, August.
    6. Pankaj Goel & Sandhya Mehta & Raman Kumar & Fernando Castaño, 2022. "Sustainable Green Human Resource Management Practices in Educational Institutions: An Interpretive Structural Modelling and Analytic Hierarchy Process Approach," Sustainability, MDPI, vol. 14(19), pages 1-21, October.
    7. Mercedes Úbeda‐García & Bartolome Marco‐Lajara & Patrocinio C. Zaragoza‐Sáez & Encarnación Manresa‐Marhuenda & Esther Poveda‐Pareja, 2022. "Green ambidexterity and environmental performance: The role of green human resources," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(1), pages 32-45, January.
    8. Hany Hosny Abdelhamied & Ahmed Mohamed Elbaz & Bassam Samir Al-Romeedy & Tamer Mohamed Amer, 2023. "Linking Green Human Resource Practices and Sustainable Performance: The Mediating Role of Job Satisfaction and Green Motivation," Sustainability, MDPI, vol. 15(6), pages 1-18, March.
    9. Mónica Santana & Rafael Morales-Sánchez & Susana Pasamar, 2020. "Mapping the Link between Corporate Social Responsibility (CSR) and Human Resource Management (HRM): How Is This Relationship Measured?," Sustainability, MDPI, vol. 12(4), pages 1-28, February.
    10. Ahmed Marhfor & Kais Bouslah & Abdelmajid Hmaittane, 2022. "Does Firm Political Risk Affect the Relationship between Corporate Social Responsibility and Firm Value?," Sustainability, MDPI, vol. 14(18), pages 1-23, September.
    11. Boris Bauke & Thorsten Semrau & Zheng Han, 2016. "Relational trust and new ventures’ performance: the moderating impact of national-level institutional weakness," International Entrepreneurship and Management Journal, Springer, vol. 12(4), pages 1007-1024, December.
    12. Huirong Xie & Teck Chai Lau, 2023. "Evidence-Based Green Human Resource Management: A Systematic Literature Review," Sustainability, MDPI, vol. 15(14), pages 1-23, July.
    13. Yushi Jiang & Syed Imran Zaman & Sobia Jamil & Sharfuddin Ahmed Khan & Li Kun, 2024. "A triple theory approach to link corporate social performance and green human resource management," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(6), pages 15733-15776, June.
    14. Xinming Deng & Xianyi Long & Douglas A. Schuler & Huan Luo & Xiaofei Zhao, 2020. "External corporate social responsibility and labor productivity: A S‐curve relationship and the moderating role of internal CSR and government subsidy," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(1), pages 393-408, January.
    15. Jing Yi Yong & Mohd‐Yusoff Yusliza & Thurasamy Ramayah & Charbel Jose Chiappetta Jabbour & Simone Sehnem & Venkatesh Mani, 2020. "Pathways towards sustainability in manufacturing organizations: Empirical evidence on the role of green human resource management," Business Strategy and the Environment, Wiley Blackwell, vol. 29(1), pages 212-228, January.
    16. Efstathios Dimitriadis & Eleni Zilakaki, 2019. "The Effect of Corporate Social Responsibility on Customer Loyalty in Mobile Telephone Companies," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 433-450.
    17. Francis J. Greene & Kevin F. Mole & David J. Storey, 2004. "Does More Mean Worse? Three Decades of Enterprise Policy in the Tees Valley," Urban Studies, Urban Studies Journal Limited, vol. 41(7), pages 1207-1228, June.
    18. Adewole Olukorede, 2025. "Stakeholder engagement and participation in environmental contexts, social responsibility and society based on a study conducted in Rome, Italy," International Journal of Corporate Social Responsibility, Springer, vol. 10(1), pages 1-45, December.
    19. Liping Xu & Shuxia Zhang & Ning Liu & Li Chen, 2018. "Corporate Hypocrisy: Role of Non-Profit Corporate Foundations in Earnings Management of For-Profit Founder Firms," Sustainability, MDPI, vol. 10(11), pages 1-24, November.
    20. Anis Maaloul & Daniel Zéghal & Walid Ben Amar & Sari Mansour, 2023. "The Effect of Environmental, Social, and Governance (ESG) Performance and Disclosure on Cost of Debt: The Mediating Effect of Corporate Reputation," Corporate Reputation Review, Palgrave Macmillan, vol. 26(1), pages 1-18, February.

    More about this item

    Keywords

    HRM; Green HRM; Corporate social responsibility; Performance growth; OLS;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • J81 - Labor and Demographic Economics - - Labor Standards - - - Working Conditions
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:subboe:v:70:y:2025:i:1:p:33-50:n:1002. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.