CSR vs. Value Creation: What Relationship? An Overview of the Literature
Abstract
Social and Environmental Responsibility represent nowadays an opportunity to be seized by a Companies to improve their competitive market position and to achieve their best level of performance and thereby create value. This article aims to analyze the different approaches that have demonstrated the existence of a link between CSR (Corporate Social Responsibility) and value creation, through a literature review and a conceptual framework.
References
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[27] Griffin, J. J. and Mahon, J. F. 1997. The Corporate Social Performance and Corporate Financial Performance Debate. Business & Society, 36(1): 5–31. DOI: 10.1177/000765039703600102
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[29] Jakub, S., Viera, B. and Eva, K. 2015. Economic Value Added as a measurement tool of financial performance. Procedia Economics and Finance, 26: 484-489. DOI: https://doi.org/10.1016/S2212-5671(15)00877-1
[30] Peeters, A. 2004. The Belgian social label. A pilot project for involving governments in CSR. Transfer: European Review of Labour and Research, 10(3): 393–400. DOI:10.1177/102425890401000306
[31] Remaud, H. 2001. Modes de gouvernance et" création de valeur" en petite entreprise: application au secteur agroalimentaire du Languedoc-Roussillon. In 10. Conférence de l’AIMS: Les perspectives en management stratégique (pp. 23-p), Juin 2001.
[32] Rochmah, H. N. and Ardianto, A. 2020. Catering dividend: Dividend premium and free cash flow on dividend policy. Cogent Business & Management, 7(1): 1812927. DOI:https://doi.org/10.1080/23311975.2020.1812927
[33] Russo, A. and Pogutz, S. 2009. Eco-efficiency vs Eco-effectiveness. Exploring the link between GHG emissions and firm performance. Academy of Management Proceedings, 2009(1): 1–6. DOI:10.5465/ambpp.2009.44263752
[34] Schwartz, M. S. and Carroll, A. B. 2003. Corporate social responsibility: A three-domain approach. Business ethics quarterly, 13(4): 503-530. DOI: 10.2307/3857969
[35] Simpson, W. G. and Kohers, T. 2002. The link between corporate social and financial performance: Evidence from the banking industry. Journal of business ethics, 35(2): 97109. DOI:10.1023/a:1013082525900
[36] Surroca, J., Tribó, J. A. and Waddock, S. 2009. Corporate responsibility and financial performance: the role of intangible resources. Strategic Management Journal, 31(5): 463–490. DOI:10.1002/smj.820
[37] Tazi, A. and Ibenrissoul, A. 2020. Strategic Corporate Social Responsibility and investment decision in extractive industries. Revue Internationale des Sciences de Gestion, 6(1): 611 – 627. DOI:https://doi.org/10.5281/zenodo.3660761
[38] Tokoro, N. 2007. Stakeholders and Corporate Social Responsibility (CSR): A New Perspective on the Structure of Relationships. Asian Business & Management, 6(2): 143–162. DOI:10.1057/palgrave.abm.9200218
[39] Ullmann, A.E. 1985. Data in Search of a Theory: A Critical Examination of the Relationship’s among Social Performance, Social Disclosure and Economic Performance of US Firms. Academy of Management Review, 10: 540-557.
[40] Van Tulder, R. and Kaptein, M. 2003. Toward Effective Stakeholder Dialogue. Business and Society Review, 108(2): 203–224. DOI: 10.1111/1467-8594.00161
[41] Vatteville, E. 2008. La création de valeur: de l'exclusivité actionnariale à la diversité partenariale. Management Avenir, 4: 88-10. DOI: 10.3917/mav.018.0088
[42] Voguel, D. 1978. Lobbying the corporation: Citizen challenges to business authority. New York: Basic Books.
[43] Waddock, S.A. and Graves, S.B. 1997. The Corporate Social Performance—Financial performance Link. Strategic Management Journal, 18(4): 303-319.
[2] Acquier, A., and Aggeri, F. 2015. Une généalogie de la pensée managériale sur la RSE. Revue Française de Gestion, 41(253): 387–413. DOI: 10.3166/rfg.180.131-157
[3] Aggeri, F. and Acquier, A. 2005. La théorie des stakeholders permet-elle de rendre compte des pratiques d'entreprise en matière de RSE? In XIVème Conférence de l'AIMS, Juin 2005.
[4] Albouy, M. 1999. Théorie, applications et limites de la mesure de la création de valeur. Revue française de gestion, 81-90.
[5] Allouche, J. and Laroche, P. 2005. Responsabilité Sociale et Performance Financière: une revue de la littérature, Colloque : La responsabilité sociétale des entreprises: réalité, mythe ou mystification ? Université de Nancy 2, 17 et 18 mars.
[6] Arcimoles, Ch-H. and Trebucq 2003. "Etude de l'influence de la performance sociétale sur la performance financière et le risque des société françaises cotées (1995-2002)", actes du colloque interdisciplinaire La Responsabilité Globale de l'Entreprise: un nouveau modèle de régulation?. AUDENCIA Nantes. Éco de management. 16 et 17 octobre 2003.
[7] Aupperle, K. E., Carroll, A. B. and Hatfield, J. D. 1985. An Empirical Examination of the Relationship between Corporate Social Responsibility and Profitability. Academy of Management Journal, 28(2): 446–463. DOI: 10.5465/256210
[8] Balabanis, G., Phillips, H. C. and Lyall, J. 1998. Corporate social responsibility and economic performance in the top British companies: are they linked? European Business Review, 98(1): 25–44. DOI: 10.1108/09555349810195529
[9] Ben Larbi, S. and Ohanessian, R. 2008. Politiques RSE et création de valeur: Vers un modèle de gouvernance responsable?. In Archives CONGRES ADERSE.
[10] Caby, J., Clerc-Girard, M-F. and Koehl, J. 1996. Le processus de création de valeur. Revue Française de Gestion, pp 49-57.
[11] Callon, M., Lascoumes, P. and Barthe, Y. 2001. Agir dans un monde incertain: Essai sur la De´mocratie Technique. Seuil, Paris.
[12] Carroll, A. B. 1979. A Three-Dimensional Conceptual Model of Corporate Performance. Academy of Management Review, 4(4): 497–505. DOI:10.5465/amr.1979.4498296
[13] Carroll, A. B. 1999. Corporate Social Responsibility. Business & Society, 38(3): 268–295. DOI:10.1177/000765039903800303
[14] Charreaux, G. 1998. Le point sur la mesure de performance des entreprises. Banque et Marchés, 34: 46-51.
[15] Charreaux, G., and Desbrières, P. 1998. Gouvernance des entreprises : valeur partenariale contre-valeur actionnariale. Finance contrôle stratégie, 1(2): 57-88.
[16] Cochran, P. L., and Wood, R. A. 1984. Corporate Social Responsibility and Financial Performance. Academy of Management Journal, 27(1): 42–56. DOI: 10.5465/255956
[17] Costin, D. M. 2017. Economic Value Added - –A General Review of the Concept. “Ovidius” University Annals, Economic Sciences Series,17(1): 168-173.
[18] Davis, K. 1973. The Case for and against Business Assumption of Social Responsibilities. Academy of Management Journal, 16: 312-322. DOI: https://doi.org/10.2307/255331
[19] Denglos, G. 2003. La création de valeur: modèles, mesures et diagnostiques. Paris Dunod, Gestion Sup. 230 pages.
[20] Faiteh, A. and Aasri, M. R. 2022. Internal Audit and Added Value: What is the Relationship? Literature Review. Universal Journal of Accounting and Finance, 10(3): 666-675. DOI:10.13189/ujaf.2022.100304
[21] Faverjon, C. and Marion, A. 2005. Création de valeur et indicateurs comptables : enseignements tirés à partir d'un échantillon d'entreprises européennes, sur la période 2001-2005 ; Centre de Recherche Magellan de l'IAE de l'Université Jean Moulin Lyon III, Equipe Finance.
[22] Fernández-Guadaño, J. and Sarria-Pedroza, J. H. 2018. Impact of corporate social responsibility on value creation from a stakeholder perspective. Sustainability, 10(6): 2062. DOI:10.3390/su10062062
[23] Fombrun, C., and Shanley, M. 1990. What’s in a Name? Reputation Building and Corporate Strategy. Academy of Management Journal, 33(2): 233–258. DOI:10.5465/256324
[24] Freeman, R. E. and McVea, J. A. 2001. Stakeholder approach to strategic management. Available at SSRN 263511. DOI: 10.2139/ssrn.263511
[25] Freeman, R. E. and Reed, D. L. 1983. Stockholders and Stakeholders: A New Perspective on Corporate Governance. California Management Review, 25(3): 88–106. DOI: 10.2307/41165018
[26] Friedman, M. 1962.Capitalism and freedom. Chicago: University of Chicago Press.
[27] Griffin, J. J. and Mahon, J. F. 1997. The Corporate Social Performance and Corporate Financial Performance Debate. Business & Society, 36(1): 5–31. DOI: 10.1177/000765039703600102
[28] Jacquet, D. 1997. Rentabilité et valeur: EVA et MVA. Analyse financière, (112).
[29] Jakub, S., Viera, B. and Eva, K. 2015. Economic Value Added as a measurement tool of financial performance. Procedia Economics and Finance, 26: 484-489. DOI: https://doi.org/10.1016/S2212-5671(15)00877-1
[30] Peeters, A. 2004. The Belgian social label. A pilot project for involving governments in CSR. Transfer: European Review of Labour and Research, 10(3): 393–400. DOI:10.1177/102425890401000306
[31] Remaud, H. 2001. Modes de gouvernance et" création de valeur" en petite entreprise: application au secteur agroalimentaire du Languedoc-Roussillon. In 10. Conférence de l’AIMS: Les perspectives en management stratégique (pp. 23-p), Juin 2001.
[32] Rochmah, H. N. and Ardianto, A. 2020. Catering dividend: Dividend premium and free cash flow on dividend policy. Cogent Business & Management, 7(1): 1812927. DOI:https://doi.org/10.1080/23311975.2020.1812927
[33] Russo, A. and Pogutz, S. 2009. Eco-efficiency vs Eco-effectiveness. Exploring the link between GHG emissions and firm performance. Academy of Management Proceedings, 2009(1): 1–6. DOI:10.5465/ambpp.2009.44263752
[34] Schwartz, M. S. and Carroll, A. B. 2003. Corporate social responsibility: A three-domain approach. Business ethics quarterly, 13(4): 503-530. DOI: 10.2307/3857969
[35] Simpson, W. G. and Kohers, T. 2002. The link between corporate social and financial performance: Evidence from the banking industry. Journal of business ethics, 35(2): 97109. DOI:10.1023/a:1013082525900
[36] Surroca, J., Tribó, J. A. and Waddock, S. 2009. Corporate responsibility and financial performance: the role of intangible resources. Strategic Management Journal, 31(5): 463–490. DOI:10.1002/smj.820
[37] Tazi, A. and Ibenrissoul, A. 2020. Strategic Corporate Social Responsibility and investment decision in extractive industries. Revue Internationale des Sciences de Gestion, 6(1): 611 – 627. DOI:https://doi.org/10.5281/zenodo.3660761
[38] Tokoro, N. 2007. Stakeholders and Corporate Social Responsibility (CSR): A New Perspective on the Structure of Relationships. Asian Business & Management, 6(2): 143–162. DOI:10.1057/palgrave.abm.9200218
[39] Ullmann, A.E. 1985. Data in Search of a Theory: A Critical Examination of the Relationship’s among Social Performance, Social Disclosure and Economic Performance of US Firms. Academy of Management Review, 10: 540-557.
[40] Van Tulder, R. and Kaptein, M. 2003. Toward Effective Stakeholder Dialogue. Business and Society Review, 108(2): 203–224. DOI: 10.1111/1467-8594.00161
[41] Vatteville, E. 2008. La création de valeur: de l'exclusivité actionnariale à la diversité partenariale. Management Avenir, 4: 88-10. DOI: 10.3917/mav.018.0088
[42] Voguel, D. 1978. Lobbying the corporation: Citizen challenges to business authority. New York: Basic Books.
[43] Waddock, S.A. and Graves, S.B. 1997. The Corporate Social Performance—Financial performance Link. Strategic Management Journal, 18(4): 303-319.
Published
2022-06-30
How to Cite
EL BADRI, Lamia; AASRI, Mohammed Rachid.
CSR vs. Value Creation: What Relationship? An Overview of the Literature.
Theoretical and Practical Research in Economic Fields, [S.l.], v. 13, n. 1, p. 19 - 30, june 2022.
ISSN 2068-7710.
Available at: <https://journals.aserspublishing.eu/tpref/article/view/7081>. Date accessed: 26 apr. 2024.
doi: https://doi.org/10.14505/tpref.v13.1(25).02.
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Articles
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