The impact of corporate social responsibility on the financial performance of companies: a systematic literature review

L'impact de la responsabilité sociale sur la performance financière des entreprises: une revue de la littérature systématique

Abdelati El Arfaoui and Nouredine Marchoud
Additional contact information
Abdelati El Arfaoui: UMI - جامعة مولاي إسماعيل = Université Moulay Ismaïl
Nouredine Marchoud: UMI - جامعة مولاي إسماعيل = Université Moulay Ismaïl

Post-Print from HAL

Abstract: Companies are currently focusing on activities that increasingly benefit stakeholders, within the framework of corporate responsibility (CSR). Moreover, environmental, social and governance (ESG) aspects are the main dimensions of corporate responsibility practices and efforts.Companies engage in ESG activities in order to signal their compliance to the market, but also to improve their financial returns. However, the link between ESG performance and financial performance is not yet well established. Our analysis seeks to synthesise the literature on the following theme: ESG performance and its impact on financial performance. We therefore seek to better understand the relationship between the financial performance of companies and CSR activities (in terms of ESG performance).In other words, can the allocation of company resources to environmental, social and governance (ESG) aspects be a source of improved financial performance for the benefit of the company and its stakeholders? As part of a systematic literature review and in order to shed light on this question, we analysed the content of 63 articles identified as dealingwith the relationship between ESG performance and financial performance. This analysis shows that although most of the studies carried out indicate a positive relationship, others have concluded the existence of negative or even mixed relationships. It therefore confirms the need for more in-depth research into this relationship and the variables that may influence it.

Keywords: Sustainable development; corporate social responsibility; ESG performance; financial performance; Développement durable; Responsabilité sociale des entreprises; performance ESG; performance financière (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-cfn, nep-eff and nep-env
Note: View the original document on HAL open archive server: https://hal.science/hal-04864136v1
References: Add references at CitEc
Citations:

Published in International Journal of Accounting, Finance, Auditing, Management and Economics, 2024, ⟨10.5281/zenodo.13885266⟩

Downloads: (external link)
https://hal.science/hal-04864136v1/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04864136

DOI: 10.5281/zenodo.13885266

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().