Corporate social responsibility as a signaling technology

This study proposes a production framework in which capital, labor, and corporate social responsibility (CSR) generate sales. Estimating a stochastic frontier on an international sample of large manufacturing firms reveals that CSR has asymmetric effects on efficiency. In a matched sample, the proce...

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Detalles Bibliográficos
Autor: Epure, Mircea
Tipo de recurso: artículo
Estado:Versión aceptada para publicación
Fecha de publicación:2022
País:España
Institución:Universitat Pompeu Fabra
Repositorio:Repositorio Digital de la UPF
OAI Identifier:oai:repositori.upf.edu:10230/59314
Acceso en línea:http://hdl.handle.net/10230/59314
http://dx.doi.org/10.1007/s11846-021-00472-x
Access Level:acceso abierto
Palabra clave:Corporate social responsibility
Efciency
Crisis
Proftability
Signaling
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spelling Corporate social responsibility as a signaling technologyEpure, MirceaCorporate social responsibilityEfciencyCrisisProftabilitySignalingThis study proposes a production framework in which capital, labor, and corporate social responsibility (CSR) generate sales. Estimating a stochastic frontier on an international sample of large manufacturing firms reveals that CSR has asymmetric effects on efficiency. In a matched sample, the processes of high as compared to low CSR firms are affected less by a crisis shock. This can be largely attributed to the role of CSR as an insurance signal of processes sustainability, especially in market-based as compared to network-oriented contexts. Finally, results show that higher CSR helps firms to mitigate a crisis shock on real effects such as profitability and sales growth; this is mostly because these firms have a higher ability to adjust their operating margins and exhibit lower risk.This work received support from the Spanish Government through grants ECO2017-85763-R and CEX2019-000915-S.Springer202420242022info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersionapplication/pdfapplication/pdfhttp://hdl.handle.net/10230/59314http://dx.doi.org/10.1007/s11846-021-00472-xreponame:Repositorio Digital de la UPFinstname:Universitat Pompeu FabraInglésReview of Managerial Science. 2022;16:907-30.info:eu-repo/grantAgreement/ES/2PE/ECO2017-85763-Rinfo:eu-repo/grantAgreement/ES/2PE/CEX2019-000915-SThis version of the article has been accepted for publication, after peer review (when applicable) and is subject to Springer Nature’s AM terms of use, but is not the Version of Record and does not reflect post-acceptance improvements, or any corrections. The Version of Record is available online at: http://dx.doi.org/10.1007/s11846-021-00472-xinfo:eu-repo/semantics/openAccessoai:repositori.upf.edu:10230/593142026-06-12T07:21:37Z
dc.title.none.fl_str_mv Corporate social responsibility as a signaling technology
title Corporate social responsibility as a signaling technology
spellingShingle Corporate social responsibility as a signaling technology
Epure, Mircea
Corporate social responsibility
Efciency
Crisis
Proftability
Signaling
title_short Corporate social responsibility as a signaling technology
title_full Corporate social responsibility as a signaling technology
title_fullStr Corporate social responsibility as a signaling technology
title_full_unstemmed Corporate social responsibility as a signaling technology
title_sort Corporate social responsibility as a signaling technology
dc.creator.none.fl_str_mv Epure, Mircea
author Epure, Mircea
author_facet Epure, Mircea
author_role author
dc.subject.none.fl_str_mv Corporate social responsibility
Efciency
Crisis
Proftability
Signaling
topic Corporate social responsibility
Efciency
Crisis
Proftability
Signaling
description This study proposes a production framework in which capital, labor, and corporate social responsibility (CSR) generate sales. Estimating a stochastic frontier on an international sample of large manufacturing firms reveals that CSR has asymmetric effects on efficiency. In a matched sample, the processes of high as compared to low CSR firms are affected less by a crisis shock. This can be largely attributed to the role of CSR as an insurance signal of processes sustainability, especially in market-based as compared to network-oriented contexts. Finally, results show that higher CSR helps firms to mitigate a crisis shock on real effects such as profitability and sales growth; this is mostly because these firms have a higher ability to adjust their operating margins and exhibit lower risk.
publishDate 2022
dc.date.none.fl_str_mv 2022
2024
2024
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/acceptedVersion
format article
status_str acceptedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/10230/59314
http://dx.doi.org/10.1007/s11846-021-00472-x
url http://hdl.handle.net/10230/59314
http://dx.doi.org/10.1007/s11846-021-00472-x
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Review of Managerial Science. 2022;16:907-30.
info:eu-repo/grantAgreement/ES/2PE/ECO2017-85763-R
info:eu-repo/grantAgreement/ES/2PE/CEX2019-000915-S
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Springer
publisher.none.fl_str_mv Springer
dc.source.none.fl_str_mv reponame:Repositorio Digital de la UPF
instname:Universitat Pompeu Fabra
instname_str Universitat Pompeu Fabra
reponame_str Repositorio Digital de la UPF
collection Repositorio Digital de la UPF
repository.name.fl_str_mv
repository.mail.fl_str_mv
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