Impact of CSR Activities on the Financial Performance of Firms

Kumar, Amit; Sinha, A.; Arora, Anish; Aggarwal, Apoorva

doi:10.17492/mudra.v5i01.13037

Cited by 4 publications

(4 citation statements)

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“…However, only three papers in our analysis address this question. With respect to the impact of CSR on financial performance in general (independent of the luxury industry), the evidence is mixed (Alshehhi et al 2018;Kumar et al 2018;Miller et al 2018). It would be interesting to determine whether this result can be replicated within the luxury industry or if, within this industry, with its particularities, a clear positive or even negative effect can be observed.…”

Section: Discussionmentioning

confidence: 99%

Sustainable luxury: current status and perspectives for future research

Kunz

May

Schmidt

2020

Bus Res

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Over the past decades, the luxury sector has been constantly growing; consequently, luxury products have attracted the interest of many scholars. Nevertheless, only recently research has been started to investigate possible relations between luxury and activities in terms of corporate social responsibility (CSR) and sustainability. This development was overdue: as luxury products often act as industry models, a shift towards sustainable luxury can pave the way for more sustainable mass products on a broad scope as well. Thus, a profound understanding of the mechanisms behind the successful combination of luxury and sustainability can provide insights for both enhancing individual firm success and achieving a shift towards more sustainable products, which is desirable from a societal perspective. To foster this research stream, the present paper provides a systematic literature review on luxury and sustainability in a broader sense, which, based on an inductive approach, identifies the various areas covered by existing research. This allows critical reflection of what is still missing in the ongoing discussions and shows where priorities within research have been set. We identify several major blind spots within extant research and discuss possible further research paths to close them.

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Section: Discussionmentioning

confidence: 99%

Sustainable luxury: current status and perspectives for future research

Kunz

May

Schmidt

2020

Bus Res

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“…Therefore, does that mean the higher level of environmental responsibility information a firm disclose, the better environmental performance it conducts? The vast majority of existing literature studied the relationship between a firm's social responsibility disclosure and its financial performance (Cavaco and Crifo, 2014;Waworuntu et al, 2014;Rhou et al, 2016;Kumar et al, 2018;Sun et al, 2019). However, little attention was paid to the relationship between the level of CERID and the firm's environmental performance.…”

Section: Literature Review and Hypothesismentioning

confidence: 99%

Cover-up or true? does CSR disclosure really contribute to corporate environmental performance?

Yun

Lan

Chen

2023

Front. Environ. Sci.

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Do companies disclose their environmental social responsibility to demonstrate their good environmental performance or to cover up their poor environmental performance? This study examines the relationship between the disclosure level of corporate environmental responsibility information and corporate environmental performance based on institutional pressure, using data from Chinese A-share listed companies between 2008 and 2021. The results showed a negative relationship between the two variables, indicating that many firms might disclose environmental information to cover up their poor environmental performance. This phenomenon was more evident among non-state-owned enterprises and the enterprises in the economically underdeveloped regions. This study provides a new theoretical perspective for relevant management institutions to study social responsibility reports and formulate environmental protection policies.

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“…Empirical evidence on CSR's effects is mixed. On the one hand, some studies reported that CSR could benefit firms and their stakeholders (Godfrey, 2005;Kumar et al, 2018;Margolis & Walsh, 2001;Zhou & Ki, 2018); on the other hand, there are studies showing that CSR might be costly and only a few firms could benefit from it (Margolis & Walsh, 2001;€ Oberseder et al, 2011;Skarmeas & Leonidou, 2013). There is not much consensus regarding the relationship between CSR and firm performance, and some previous studies also reported insignificant, U-shape or inverted U-shape, which have been reviewed in the literature (Beurden & Goessling, 2008;Orlitzky et al, 2003;Saha et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

From driver to enabler: the moderating effect of corporate social responsibility on firm performance

Lan

Chen

et al. 2021

Economic Research-Ekonomska Istraživanja

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Corporate social responsibility (CSR) is assumed to have a direct influence on firm performance. However, the existing literature provides a mixed depiction of the relationship between CSR and firm performance. In this study, CSR is considered as an enabler for firm performance, rather than a direct driving force. Using a sample of U.S. firms, we test the enabler hypothesis and find that CSR positively moderates the relationship between marketing investments and firm financial performance, i.e., the enabling hypothesis is supported. The moderating effect of CSR is further moderated by how firms treat their employees. Mistreating employees weakens CSR's moderating effect because it may make customers to perceive CSR activities as self-interested makeups rather than purely charitable actions in nature. Overall, our study suggests a logic shift from considering CSR as a driver for firm performance to an enabler and provides implications for both future research and practices.

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Impact of CSR Activities on the Financial Performance of Firms

Cited by 4 publications

References 0 publications

Sustainable luxury: current status and perspectives for future research

Sustainable luxury: current status and perspectives for future research

Cover-up or true? does CSR disclosure really contribute to corporate environmental performance?

From driver to enabler: the moderating effect of corporate social responsibility on firm performance

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