Financial performance and reviews of corporate social responsibility reports

Orhan Akisik and Graham Gal ()

Mathematical Methods of Operations Research, 2014, vol. 25, issue 3, 259-288

Abstract: The purpose of this study is to examine the relationship between financial performance and reviews—self, Global Reporting Initiative (GRI), and third party—of corporate social responsibility (CSR) reports provided by North American firms over the period from 2006 to 2012. Using data obtained from the Compustat North America and the GRI websites, the results indicate that reviews of CSR reports are significantly related to certain short and long-term measures of financial performance. In addition, for firms in particular industries; mining, chemical, and petroleum, third party review is significantly related to financial performance. Moreover, we find that the effect of sales, leverage, and growth on financial performance is influenced by CSR reviews. Conclusions drawn from this study indicate that there is a relationship between financial performance and reviews of CSR reports. Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: Financial performance; Corporate social responsibility; Reviews of corporate social responsibility reports; M40; M41; M42 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (12)

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DOI: 10.1007/s00187-014-0198-2

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