Naslov
Corporate social responsibility and financial performance relationship: a review of measurement approaches

Autori
Galant, Adriana ; Cadez, Simon

Izvornik
Ekonomska istraživanja (1331-677X) 30 (2017), 1; 676-693

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, pregledni rad, znanstveni

Ključne riječi
corporate social responsibility ( CSR) ; financial performance ; stakeholders ; corporate social accounting ; CSR measurement

Sažetak
The relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) has been subject to extensive empirical enquiry. Yet the body of evidence that has accumulated about the nature of the relationship is equivocal. A commonly identified reason for the diverse and contradictory results is measurement issues pertaining to both concepts of interest. This article aims to review alternative operationalisations and measurement approaches for the CSR and CFP concepts that have been deployed in empirical literature concerned with the CSR–CFP relationship. Several findings emanate from our study. First, CSR operationalisations in empirical literature range from multidimensional to one-dimensional. Second, CSR measurement approaches include reputation indices, content analyses, questionnaire-based surveys and one-dimensional measures, whereas CFP measurement approaches include accounting-based measures, market-based measures and combined measures. Third, no CSR measurement approach is without drawbacks. In addition to approach specific drawbacks, two problems inherent in most approaches are researcher subjectivity and selection bias that may influence the nature of CSR–CFP relationship detected in empirical literature. Finally, potential pathways to remedy these drawbacks are suggested.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA