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CSR Policies on Community Relationships as Value Drivers of Spanish Firms

Author

Listed:
  • Sonia Benito-Hernandez

    (Universidad Politecnica de Madrid)

  • Cristina Lopez-Cozar Navarro

    (Universidad Politecnica de Madrid)

  • Gracia Rubio Martin

    (Universidad Complutense de Madrid)

Abstract

This paper provides empirical evidence of efforts to enable Spanish manufacturing companies to boost their economic profitability rates through the development of Corporate Social Responsibility (CSR) policies. This study aims to develop new approaches and sensibilities towards work from an ethical, values (virtues) and CSR perspective, showing how internal and externaldimensions of CSR -such as those related to relationships with employees, relationship with the community and responsibility in process quality management -contribute to improve the economic profitability of the company (ROA) in addition to improving society. The results of a sample of 6,186 businesses show that, in general, the implementation of collaboration policies have increased relationships with the community. Alliances with competitors, institutions and suppliers had a significant positive effecton increased ROA. Nevertheless, as we anticipated, cooperation with customers had a negative impact on ROA. In addition, to improve relationships with employees, the implementation of quality policies had a positive and relevant impact on the ROA.

Suggested Citation

  • Sonia Benito-Hernandez & Cristina Lopez-Cozar Navarro & Gracia Rubio Martin, 2020. "CSR Policies on Community Relationships as Value Drivers of Spanish Firms," EconWorld Working Papers 20002, WERI-World Economic Research Institute, revised May 2020.
    • Handle: RePEc:ana:wpaper:20002
    DOI: 10.22440/EconWorld.WP.2020.002
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    More about this item

    Keywords

    Economic Profitability; Policies of CSR; Employees’ Relations; Responsibility in Quality Management; Community Relations;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General

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