Corporate social responsibility and Brazilian firms' financial performance

Lilian Marques Freguete, Valcemiro Nossa and Bruno Funchal

RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), 2015, vol. 19, issue 2, 232-248

Abstract: Literature on Corporate Social Responsibility points out some long-term benefits. However, the literature doesn't say much on its potential short-term benefits, such as how socially responsible firms react in a Financial-Economic Crisis, a well-known short-term phenomenon. This paper aims to analyze the relationship between Corporate Social Responsibility and firms' financial performance under a crisis scenario. Using a difference-in-difference regression model with panel data and companies listed on the Brazilian stock exchange (ISE-BOVESPA) as a proxy for Brazilian firms that implement Corporate Social Responsibility, we find that during the 2008 crisis, socially responsible firms didn't have significant differences in financial performance compared to non-ISE firms. Such results are not aligned with theories that argue in favor of Corporate Social Responsibility in order to boost financial performance.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
https://rac.anpad.org.br/index.php/rac/article/view/1102/1098 (text/html)
https://rac.anpad.org.br/index.php/rac/article/download/1102/1098 (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:abg:anprac:v:19:y:2015:i:2:1102

Access Statistics for this article

RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration) is currently edited by Marcelo de Souza Bispo

More articles in RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration) from ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração
Bibliographic data for series maintained by Information Technology of ANPAD ().