Corporate Social Responsibility and Firm Financial Performance
- 1 December 1988
- journal article
- research article
- Published by Academy of Management in The Academy of Management Journal
- Vol. 31 (4) , 854-872
- https://doi.org/10.5465/256342
Abstract
Using Fortune magazine's ratings of corporate reputations, we analyzed the relationships between perceptions of firms’ corporate social responsibility and measures of their financial performance. Results show that a firm's prior performance, assessed by both stock-market returns and accounting-based measures, is more closely related to corporate social responsibility than is subsequent performance. Results also show that measures of risk are more closely associated with social responsibility than previous studies have suggested.Keywords
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