CSR Policies on Community Relationships as Value Drivers of Spanish Firms

Sonia Benito-Hernandez (), Cristina Lopez-Cozar Navarro () and Gracia Rubio Martin ()
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Sonia Benito-Hernandez: Universidad Politecnica de Madrid
Cristina Lopez-Cozar Navarro: Universidad Politecnica de Madrid
Gracia Rubio Martin: Universidad Complutense de Madrid

No 20002, EconWorld Working Papers from WERI-World Economic Research Institute

Abstract: This paper provides empirical evidence of efforts to enable Spanish manufacturing companies to boost their economic profitability rates through the development of Corporate Social Responsibility (CSR) policies. This study aims to develop new approaches and sensibilities towards work from an ethical, values (virtues) and CSR perspective, showing how internal and externaldimensions of CSR -such as those related to relationships with employees, relationship with the community and responsibility in process quality management -contribute to improve the economic profitability of the company (ROA) in addition to improving society. The results of a sample of 6,186 businesses show that, in general, the implementation of collaboration policies have increased relationships with the community. Alliances with competitors, institutions and suppliers had a significant positive effecton increased ROA. Nevertheless, as we anticipated, cooperation with customers had a negative impact on ROA. In addition, to improve relationships with employees, the implementation of quality policies had a positive and relevant impact on the ROA.

Keywords: Economic Profitability; Policies of CSR; Employees’ Relations; Responsibility in Quality Management; Community Relations (search for similar items in EconPapers)
JEL-codes: L20 M14 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2020-05, Revised 2020-05
New Economics Papers: this item is included in nep-cse, nep-eur and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:ana:wpaper:20002

DOI: 10.22440/EconWorld.WP.2020.002

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