Strategic CSR and firm performance: The role of prospector and growth strategies
Benjamin Maury
Journal of Economics and Business, 2022, vol. 118, issue C, No S0148619521000497
Abstract:
This paper investigates the relations between CSR, business strategies, and future firm performance. The focus is on how strategies such as growth, prospector, and defender strategies affect the CSR-performance relation. Prospector strategies are associated with high R&D and advertising expenses but low capital intensity, while a general growth strategy is measured by revenue growth. Using a sample of listed companies from 23 developed countries by MSCI, CSR improvements are shown to be positively related to future profitability in prospector and growth firms. Both growth and prospector strategies improve the performance of CSR activities.
Keywords: Corporate social responsibility; Business strategy; Prospector firms; Growth; Firm performance (search for similar items in EconPapers)
JEL-codes: G32 M14 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jebusi:v:118:y:2022:i:c:s0148619521000497
DOI: 10.1016/j.jeconbus.2021.106031
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