CSR & financial performance: Facing methodological and modeling issues commentary paper to the eponymous FRL article collection

Maria Giuseppina Bruna and Béchir Ben Lahouel

Finance Research Letters, 2022, vol. 44, issue C

Abstract: As a commentary paper to the FRL Article Collection on the relationship between Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP), the present essay addresses and investigates in depth the heterogeneity of results from existing empirical studies. After an historical excursus on the CSP-CFP link, it emphasizes the need to pay attention to theoretical inaccuracies, endogeneity, sample-selection and aggregation bias as well as to the risk of overinterpretation. Finally, it provides researchers with a documented statement to avoid the theoretical, methodological and technical flaws that have jeopardized antecedent works and shares a range of rationalized, valuable and practicable solutions.

Keywords: Social responsibility and performance; Financial performance; Sample selection; Endogeneity; Methodological and modeling issues; Nonlinearity (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612321001173
Full text for ScienceDirect subscribers only

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:eee:finlet:v:44:y:2022:i:c:s1544612321001173

DOI: 10.1016/j.frl.2021.102036

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().