مشارکت در رویه های مسئولیت دار اجتماعی و محیط زیست
Abstract
1- Introduction
2- Literature review and hypothesis development
3- Methodology
4- Results
5- Discussion, limitations and avenues for further research
References
Abstract
Purpose - This paper aims to reconcile the conflicting understanding on the nexus between corporate governance (CG), corporate financial performance (CFP) and corporate social responsibility (CSR) by investigating how companies engage with CSR practices. Design/methodology/approach – The study carries out a multivariate linear regression analysis on a sample of 361 listed companies from five countries in Europe: France, Germany, Italy, Spain and the UK. Findings – CG mechanisms and CFP have an impact on CSR because they affect social and environmental practices strongly and significantly. Furthermore, the findings describe the capacity of CSR to influence both the CG structure and the CFP.
Research limitations/implications - The present research limits the analysis on the social and environmental performance of companies that communicate their commitment to stakeholders without distinguishing between ‘‘greenwashing’’ companies that implement CSR to improve corporate reputation and those companies that pursue effective societal benefits, taking care of stakeholder relationships.
Practical implications - The CSR approach can drive the CG structure and improve CFP if managers perceive the implementation of sustainable practices as an integrated process rather than a mere outcome.
Originality/value - This paper seeks to disentangle the nexus between CG, CFP and CSR, not yet precisely defined by scholars in the context of five countries in Europe.
Introduction
Corporate social responsibility (CSR) is based on the concept that business should go beyond enhancement of socially responsible actions (Croker and Barnes, 2017). The European Commission defines CSR as “actions by companies over and above their legal obligations toward society and the environment” (European Commission, 2011, p. 3). As a matter of fact, during the past decades, the planet has registered a scarcity of tangible resources due to extensive overconsumption, and there has also been a rise of social iniquities along with steady economic growth (Rezaee, 2017). Hence, fostering of social and environmental responsibility in order to deliver sustainable outcomes and the inclusion of social and environmental practices into business processes is likely to become increasingly necessary. Therefore, companies are calling for the imperative need to go beyond mere corporate financial performance (CFP) and shortage results by integrating economic, social and environmental objectives into the core of their business activities. Two main promising challenges are at the forefront in the CSR discourse.