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Does it pay to be different? An analysis of the relationship between corporate social and financial performance
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Brammer, Stephen and Millington, Andrew (2008) Does it pay to be different? An analysis of the relationship between corporate social and financial performance. Strategic Management Journal, Vol.29 (No.12). 1325 - 1343. doi:10.1002/smj.714 ISSN 0143-2095.
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Official URL: http://dx.doi.org/10.1002/smj.714
Abstract
This study explores the relationship between corporate social performance (CSP) and corporate financial performance (CFP) within the context of a specific component of CSP: corporate charitable giving. A model of the determinants of the extent of corporate charitable giving is estimated and used as the basis of a classification that groups firms according to the difference between their actual and their predicted intensity of gift giving. The financial performance attributes of the classification are explored. We found that firms with both unusually high and low CSP have higher financial performance than other firms, with unusually poor social performers doing best in the short run and unusually good social performers doing best over longer time horizons. Copyright © 2008 John Wiley & Sons, Ltd. ABSTRACT FROM AUTHOR
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HF Commerce H Social Sciences > HG Finance |
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Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
Library of Congress Subject Headings (LCSH): | Social responsibility of business, Corporations -- Finance -- Management | ||||
Journal or Publication Title: | Strategic Management Journal | ||||
Publisher: | John Wiley & Sons Ltd. | ||||
ISSN: | 0143-2095 | ||||
Official Date: | December 2008 | ||||
Dates: |
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Volume: | Vol.29 | ||||
Number: | No.12 | ||||
Page Range: | 1325 - 1343 | ||||
DOI: | 10.1002/smj.714 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access | ||||
Date of first compliant deposit: | 17 December 2015 |
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