Philanthropy, Integration or Innovation? Exploring the Financial and Societal Outcomes of Different Types of Corporate Responsibility

Abstract

corporate responsibility, corporate social responsibility, financial performance, corporate social performance,

The differentiated effects of CSR actions in the service industry

“…However, the majority of these studies on the relationship between CSR and firm performance document a positive relationship. As noted by Halme and Laurila (2009), and Stuebs and Sun (2009), a recent literature review (Beurden and Gössling, 2008), two meta-analyses (Margolis and Walsh, 2003;Orlitzky et al, 2003), and several recent studies (e.g., Brammer and Millington, 2008) support the positive link. Additionally, most of the studies have reached a common conclusion that CSR behavior contributes to a firm's long-term sustainability and growth (Taneja et al, 2011).…”

“…There have been claims to introduce more variables that relate to industry, culture, national systems, and context into this genre of research (e.g., Aguilera et al 2007;Goll and Rasheed, 2004;Salzmann et al, 2005;Simpson and Kohers, 2002). More specifically, Arendt and Brettel (2010), and Halme and Laurila (2009) argued that the financial performance outcomes of responsible corporate behavior might vary depending on firm-specific and industry-related factors. However, studies on CSR have mostly focused on the product-based industry (e.g., Sen et al, 2006) rather than the service industry (Kang et al, 2010;Vlachos et al, 2009).…”

Innovation and paths to social-ecological sustainability

“…private and public businesses monitoring compliance with ethical standards and international norms); green public procurement and Socially responsible investment /SRI (Tahia, 2010). According to Halme and Laurila (2009) CSR can contribute to sustainable development by promoting integration, innovation and engaging philanthropy. CSR innovation emphasizes on the development of new business models for solving social and environmental problems and seeks to develop new products or services that provide solutions to problems.…”

“…CSR is defined as a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis (Commission of the European (2002). Halme and Laurila (2009) argue that CSR can contribute to higher social performance by integrating responsibility aspects with core business operations such as engaging stakeholder management, ensuring high product quality, investments in R&D, supporting responsibility measures in the supply chain and applying environmentally benign practices and policies towards the local community as well as developing new business models and innovation for solving social and environmental problems. By promoting partnership among different stakeholders, increasing market power and networked mode of operation, CSR appeared to become new governance that pushed the inclusion of social criteria into market decision that reflect some compatibility of sociability and business success (Moon, 2007).…”

Corporate social responsibility: Playing to win, or playing not to lose? Doing good by increasing the social benefits of a company’s core activities

“…On the other, the proactive approach focuses on the effects of businesses for society. The confrontation of these streams has led to studies addressing the business case for CSR, showing that companies may sometimes thrive financially (see Margolis and Walsh, 2003;Halme and Laurila, 2009;Karnani, 2011a) and their corporate reputation may be enhanced (Gatti et al, 2012) when investing in CSR. However, given the variety of extant definitions of CSR, and the fact that the concept is sometimes used as a broad container construct, it is debatable whether focusing on the business case for CSR really provides useful insights for managers (Margolis and Walsh, 2003).…”