Naslov
Relationship between corporate social responsibility and business success: Case of the global tobacco industry

Autori
Mišura, Marcela ; Cerović, Ljerka ; Buterin, Vesna

Izvornik
Management (1331-0194) 23 (2018), 1; 157-171

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, prethodno priopćenje, znanstveni

Ključne riječi
corporate social responsibility ; the tobacco industry ; financial performance

Sažetak
This study evaluates the relationship between corporate social responsibility (CSR) and the financial performance of companies operating within the global tobacco industry. According to the Forbes Global 2000 list, the research covers almost entire industry, more accurately nine companies whose value is about 99% of the total market capitalization of the industry. Analysis of this research problem covered a five-year period, from 2011 to 2015. To evaluate CSR of the companies involved in research, the CSRHub rating list was used. An aforementioned list gives ratings from the four criteria of CSR: community, employees, environment, and governance. To assess the financial performance of the companies and to obtain representative results, two indicators were used: ROA, as a measure based on the accounting records of the company and Tobin's Q ratio, as a measure of the market success of the company. The research results indicate that there is no statistically significant correlation between the CSR and financial performance at the tobacco industry level, but statistically significant correlation can be confirmed only selectively at the level of individual companies and individual indicators.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA