Analysis of social responsibility in the financial performance of colombian companies

Diana Alejandra Hernández Pérez

SCT Proceedings in Interdisciplinary Insights and Innovations, 2024, vol. 2, 10.56294/piii2024233

Abstract: The study explored the relationship between Corporate Social Responsibility (CSR) and financial performance in Colombian companies. A comprehensive analysis of academic literature was conducted, and a survey was administered to 10 individuals from 5 different companies in Colombia. Results showed a positive association between CSR and financial performance, with 60% of the studies supporting this relationship. Additionally, the importance of CSR disclosure and the need for effective management aligned with international standards were highlighted. In the survey, it was found that the majority of companies had formal CSR policies and believed in their importance for future success. This suggests that investment in socially responsible practices can have positive impacts on both brand reputation and financial outcomes for Colombian companies. In conclusion, CSR emerges as a key factor for sustainable development in Colombian companies.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:dbk:procee:v:2:y:2024:i::p:1056294piii2024233:id:1056294piii2024233

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