Are investments in material corporate social responsibility issues a key driver of financial performance?

Badía, Guillermo ; Gómez-Bezares, Fernando ; Ferruz, Luis (Universidad de Zaragoza)

Resumen: In 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.

Idioma: Inglés

DOI: 10.1111/acfi.12912

Año: 2022

Publicado en: Accounting and Finance 62, 3 (2022), 3987-4011
ISSN: 0810-5391

Factor impacto JCR: 2.6 (2022)

Categ. JCR: BUSINESS, FINANCE rank: 57 / 111 = 0.514 (2022) - Q3 - T2

Factor impacto CITESCORE: 4.5 - Economics, Econometrics and Finance (Q1) - Business, Management and Accounting (Q2)

Factor impacto SCIMAGO: 0.742 - Economics, Econometrics and Finance (miscellaneous) (Q1) - Finance (Q2) - Accounting (Q2)

Financiación: info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-11101
Financiación: info:eu-repo/grantAgreement/ES/DGA/17030G-5423-440030-91101

Tipo y forma: Article (Published version)

Área (Departamento): Área Economía Finan. y Contab. (Dpto. Contabilidad y Finanzas)