RT Article
T1 Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity
JF Journal of business ethics
VO 92
IS 1
SP 107
OP 126
A1 Garcia-Castro, Roberto
A1 Ariño, Miguel A.
A1 Canela, Miguel A.
A2 Ariño, Miguel A.
A2 Canela, Miguel A.
LA English
YR 2010
UL https://ixtheo.de/Record/1785638149
AB The empirical relationship between a firm’s social performance and its financial performance is still not well established in the literature. Despite more than 30 years of research and more than 100 empirical studies on the issue, the results are still mixed. We argue that the heterogeneous results found in previous studies are not due exclusively to problems related with the measurement instruments or the samples used. Instead, we posit that a more fundamental problem related with the endogeneity of social strategic decisions could be driving most of the empirical findings. We show that, using a panel data of 658 firms from 1991 to 2005, how some of the results found in previous research change, and some are even reversed when endogeneity is properly taken into account.
K1 Stakeholder Management
K1 Social Performance
K1 Financial Performance
K1 Endogeneity
K1 Corporate Social Responsibility
DO 10.1007/s10551-009-0143-8