doi:10.1111/acfi.12912engBadía, GuillermoGómez-Bezares, FernandoFerruz, LuisAre investments in material corporate social responsibility issues a key driver of financial performance?ART-2022-131336In this study, we address a lesser-studied aspect of corporate social respon-sibility (CSR): distinguishing between investments in material versus immate-rial CSR issues. The financial performance of stock portfolios formedaccording to material and general CSR issues is examined over the period2007 to 2018 in the European Union and the United States. We find thatmateriality is relevant to finding the best and worst firms both in terms of CSRand financial performance, more significantly in the EU than in the US market.However, general CSR scores, including material and immaterial issues, do notdiscriminate the best firms.2022http://zaguan.unizar.es/record/15065710.1111/acfi.12912http://zaguan.unizar.es/record/150657oai:zaguan.unizar.es:150657info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-11101info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-91101Accounting and Finance 62, 3 (2022), 3987-4011by-nc-ndhttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.esinfo:eu-repo/semantics/openAccess