Corporate Social Responsibility and Firms’ Performance: A Stratigraphical Analysis

33 Pages Posted: 20 Aug 2012 Last revised: 21 Aug 2012

See all articles by Nicola Comincioli

Nicola Comincioli

University of Brescia

Laura Poddi

University of Ferrara

Sergio Vergalli

University of Brescia - Department of Economics; Fondazione Eni Enrico Mattei (FEEM), Milan

Multiple version iconThere are 2 versions of this paper

Date Written: August 19, 2012

Abstract

Over the last two decades in OECD countries an increasing number of firms are obtaining certification as Socially Responsible (CSR is the acronym for Corporate Social Responsibility). Several studies (including Preston and O’Bannon, 1997; Waddock and Graves, 1997; McWilliams and Sieger, 2001; Ullman, 1985) have sought to test whether there is a relation between Social Responsibility certification and the firms’ performance.

Our work builds a CSR index that intersects two of the three main international indices (Domini 400 Social Index, Dow Jones Sustainability World Index, FTSE4Good Index), in order to overcome some problems related to the multiplicity of CSR definitions and certifications. By using this database, our work carries out a stratigraphical analysis in order to verify whether some variables are statistically different in the CSR group with respect to the benchmark case (non-CSR).

The main results show that there are several interesting differences in some economic indicators between CSR and non-CSR firms and between USA and EU, and among different industrial sectors.

Keywords: Corporate Social Responsibility, Growth

JEL Classification: M14, C23, O10

Suggested Citation

Comincioli, Nicola and Poddi, Laura and Vergalli, Sergio, Corporate Social Responsibility and Firms’ Performance: A Stratigraphical Analysis (August 19, 2012). Available at SSRN: https://ssrn.com/abstract=2132202 or http://dx.doi.org/10.2139/ssrn.2132202

Nicola Comincioli

University of Brescia ( email )

Piazza del Mercato, 15
25122 Brescia
Italy

Laura Poddi

University of Ferrara ( email )

Via del Gregorio 13
Ferrara, 44100
Italy

Sergio Vergalli (Contact Author)

University of Brescia - Department of Economics ( email )

Via San Faustino 74B
Brescia, 25122
Italy

Fondazione Eni Enrico Mattei (FEEM), Milan ( email )

Corso Magenta 63
20123 Milan
Italy

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