Are firms that contribute to sustainable development better financially?

The aim of this study is to analyze the effect exerted by corporate social strategies on (short-term and long-term) corporate financial performance (CFP). To this end, we use data on firms listed in the Stoxx Europe 600 index and Stoxx Europe Sustainability index from 2007 to 2010. On the sample dat...

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Autores: Martí-Ballester, Carmen-Pilar|||0000-0003-4085-7677, Rovira Val, Mª Rosa|||0000-0003-0408-6270, Drescher, Lisa G. J.
Tipo de recurso: artículo
Fecha de publicación:2015
País:España
Institución:Universitat Autònoma de Barcelona
Repositorio:Dipòsit Digital de Documents de la UAB
Idioma:inglés
OAI Identifier:oai:ddd.uab.cat:141565
Acceso en línea:https://ddd.uab.cat/record/141565
https://dx.doi.org/urn:doi:10.1002/csr.1347
Access Level:acceso abierto
Palabra clave:Responsabilitat social de l'empresa
Corporate social responsibility
Sustainable development
Corporate social performance
Corporate financial performance
Panel data
European firms
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spelling Are firms that contribute to sustainable development better financially?Martí-Ballester, Carmen-Pilar|||0000-0003-4085-7677Rovira Val, Mª Rosa|||0000-0003-0408-6270Drescher, Lisa G. J.Responsabilitat social de l'empresaCorporate social responsibilitySustainable developmentCorporate social performanceCorporate financial performancePanel dataEuropean firmsThe aim of this study is to analyze the effect exerted by corporate social strategies on (short-term and long-term) corporate financial performance (CFP). To this end, we use data on firms listed in the Stoxx Europe 600 index and Stoxx Europe Sustainability index from 2007 to 2010. On the sample data, we implement random and fixed effects panel data methodology corrected by heteroskedasticity, serial correlation, and/or cross-sectional dependence. The results obtained show that the implementation of corporate social responsibility (CSR) strategy, the level of economic development of the country and firm size determine CFP. In addition, the investment in research and development influences the return on assets while the company's financial slack affects the Tobin's Q. So, companies that contribute to sustainable development incur higher CFP Environment. 22015-01-0120152015-01-01Articlehttp://purl.org/coar/resource_type/c_6501AMhttp://purl.org/coar/version/c_ab4af688f83e57aainfo:eu-repo/semantics/articleapplication/pdfhttps://ddd.uab.cat/record/141565https://dx.doi.org/urn:doi:10.1002/csr.1347reponame:Dipòsit Digital de Documents de la UABinstname:Universitat Autònoma de BarcelonaInglésengopen accesshttp://purl.org/coar/access_right/c_abf2Aquest material està protegit per drets d'autor i/o drets afins. Podeu utilitzar aquest material en funció del que permet la legislació de drets d'autor i drets afins d'aplicació al vostre cas. Per a d'altres usos heu d'obtenir permís del(s) titular(s) de drets.https://rightsstatements.org/vocab/InC/1.0/info:eu-repo/semantics/openAccessoai:ddd.uab.cat:1415652026-06-06T12:50:31Z
dc.title.none.fl_str_mv Are firms that contribute to sustainable development better financially?
title Are firms that contribute to sustainable development better financially?
spellingShingle Are firms that contribute to sustainable development better financially?
Martí-Ballester, Carmen-Pilar|||0000-0003-4085-7677
Responsabilitat social de l'empresa
Corporate social responsibility
Sustainable development
Corporate social performance
Corporate financial performance
Panel data
European firms
title_short Are firms that contribute to sustainable development better financially?
title_full Are firms that contribute to sustainable development better financially?
title_fullStr Are firms that contribute to sustainable development better financially?
title_full_unstemmed Are firms that contribute to sustainable development better financially?
title_sort Are firms that contribute to sustainable development better financially?
dc.creator.none.fl_str_mv Martí-Ballester, Carmen-Pilar|||0000-0003-4085-7677
Rovira Val, Mª Rosa|||0000-0003-0408-6270
Drescher, Lisa G. J.
author Martí-Ballester, Carmen-Pilar|||0000-0003-4085-7677
author_facet Martí-Ballester, Carmen-Pilar|||0000-0003-4085-7677
Rovira Val, Mª Rosa|||0000-0003-0408-6270
Drescher, Lisa G. J.
author_role author
author2 Rovira Val, Mª Rosa|||0000-0003-0408-6270
Drescher, Lisa G. J.
author2_role author
author
dc.subject.none.fl_str_mv Responsabilitat social de l'empresa
Corporate social responsibility
Sustainable development
Corporate social performance
Corporate financial performance
Panel data
European firms
topic Responsabilitat social de l'empresa
Corporate social responsibility
Sustainable development
Corporate social performance
Corporate financial performance
Panel data
European firms
description The aim of this study is to analyze the effect exerted by corporate social strategies on (short-term and long-term) corporate financial performance (CFP). To this end, we use data on firms listed in the Stoxx Europe 600 index and Stoxx Europe Sustainability index from 2007 to 2010. On the sample data, we implement random and fixed effects panel data methodology corrected by heteroskedasticity, serial correlation, and/or cross-sectional dependence. The results obtained show that the implementation of corporate social responsibility (CSR) strategy, the level of economic development of the country and firm size determine CFP. In addition, the investment in research and development influences the return on assets while the company's financial slack affects the Tobin's Q. So, companies that contribute to sustainable development incur higher CFP Environment.
publishDate 2015
dc.date.none.fl_str_mv 2
2015-01-01
2015
2015-01-01
dc.type.none.fl_str_mv Article
http://purl.org/coar/resource_type/c_6501
AM
http://purl.org/coar/version/c_ab4af688f83e57aa
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.none.fl_str_mv https://ddd.uab.cat/record/141565
https://dx.doi.org/urn:doi:10.1002/csr.1347
url https://ddd.uab.cat/record/141565
https://dx.doi.org/urn:doi:10.1002/csr.1347
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
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https://rightsstatements.org/vocab/InC/1.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
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eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Dipòsit Digital de Documents de la UAB
instname:Universitat Autònoma de Barcelona
instname_str Universitat Autònoma de Barcelona
reponame_str Dipòsit Digital de Documents de la UAB
collection Dipòsit Digital de Documents de la UAB
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