An Empirical Investigation of the Relationship between Change in Corporate Social Performance and Financial Performance: A Stakeholder Theory Perspective
Stakeholder theory provides a framework for investigating the relationship between corporate social performance (CSP) and corporate financial performance. This relationship is investigated by examining how change in CSP is related to change in financial accounting measures. The findings provide some...
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| Veröffentlicht in: | Journal of business ethics 2001-07, Vol.32 (2), p.143-156 |
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| container_end_page | 156 |
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| container_issue | 2 |
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| container_title | Journal of business ethics |
| container_volume | 32 |
| creator | Ruf, Bernadette M. Muralidhar, Krishnamurty Brown, Robert M. Janney, Jay J. Paul, Karen |
| description | Stakeholder theory provides a framework for investigating the relationship between corporate social performance (CSP) and corporate financial performance. This relationship is investigated by examining how change in CSP is related to change in financial accounting measures. The findings provide some support for a tenet in stakeholder theory which asserts that the dominant stakeholder group, shareholders, financially benefit when management meets the demands of multiple stakeholders. Specifically, change in CSP was positively associated with growth in sales for the current and subsequent year. This indicates that there are short-term benefits from improving CSP. Return on sales was significantly positively related to change in CSP for the third financial period, indicating that long-term financial benefits may exist when CSP is improved. |
| doi_str_mv | 10.1023/a:1010786912118 |
| format | Article |
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Return on sales was significantly positively related to change in CSP for the third financial period, indicating that long-term financial benefits may exist when CSP is improved.</description><subject>Business accounting</subject><subject>Business ethics</subject><subject>Business structures</subject><subject>Compliance</subject><subject>Cooperation</subject><subject>Costs</subject><subject>Economic performance</subject><subject>Economic theory</subject><subject>Economics</subject><subject>Equity</subject><subject>Expenditures</subject><subject>Financial investments</subject><subject>Financial performance</subject><subject>Investment strategies</subject><subject>Performance metrics</subject><subject>Return on equity</subject><subject>Sales growth</subject><subject>Shareholders</subject><subject>Shareholders wealth</subject><subject>Social accounting</subject><subject>Social responsibility</subject><subject>Social 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| fulltext | fulltext |
| identifier | ISSN: 0167-4544 |
| ispartof | Journal of business ethics, 2001-07, Vol.32 (2), p.143-156 |
| issn | 0167-4544 1573-0697 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38278189 |
| source | PAIS Index; SpringerNature Journals; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing; EBSCOhost Education Source |
| subjects | Business accounting Business ethics Business structures Compliance Cooperation Costs Economic performance Economic theory Economics Equity Expenditures Financial investments Financial performance Investment strategies Performance metrics Return on equity Sales growth Shareholders Shareholders wealth Social accounting Social responsibility Social welfare Stakeholder Stakeholders Stockholders Studies Terms of trade Transaction costs Variables |
| title | An Empirical Investigation of the Relationship between Change in Corporate Social Performance and Financial Performance: A Stakeholder Theory Perspective |
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