THE ROLE OF STAKEHOLDER HETEROGENEITY IN THE CORPORATE SOCIAL RESPONSIBILITY-CORPORATE FINANCIAL PERFORMANCE RELATIONSHIP

被引：1

作者：

Cadez, Simon ^{[1
]}

Galant, Adriana ^{[2
]}

机构：

[1] Univ Ljubljana, Sch Econ & Business, Ljubljana, Slovenia

[2] Juraj Dobrila Univ Pula, Fac Econ & Tourism Dr Mijo Mirkovic, Petra Preradovica 1, Pula 52100, Croatia

来源：

DRUSTVENA ISTRAZIVANJA | 2023年 / 32卷 / 01期

关键词：

corporate social responsibility; financial performance; stakeholders; stakeholder pressures; PLS-SEM; Croatia; SHAREHOLDER VALUE; MANAGEMENT; STRATEGIES; PERCEPTIONS; FRAMEWORK; RESPONSES; MODEL; RISK; CSR;

D O I：

10.5559/di.32.1.06

中图分类号：

D58 [社会生活与社会问题]; C913 [社会生活与社会问题];

学科分类号：

摘要：

Empirical evidence on the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) remains contentious in terms of both its direction and causality. The presented study explores the intervening roles of stakeholder heterogeneity and the time dimension in the CSR-CFP relation-ship. We posit that there is a positive relationship between CSR activities towards market stakeholders (employees, customers, competitors) and future CFP and a negative relationship between CSR activities towards non-market stakeholders (NGOs, society, natural environment) and future CFP. A conceptual mod-el is analysed using a sample of 115 Croatian companies. Countering expectations, a positive relationship is observed for all stakeholder groups considered (market and non-market), showing that CSR is a coherent construct regardless of the stake-holder group being studied. The key managerial implication is that socially responsible action is also in a company's economic interest.

引用

页码：115 / 136

页数：22

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