The effects of corporate social responsibility on firm performance: A stakeholder approach

By Borham Yoon, Yeasun K. Chung. Journal of Hospitality and Tourism Management, 2018

216 citations recorded by the source corpus.

Abstract The primary purpose of this study is to compare the internal and external stakeholder effect of corporate social responsibility (CSR) on a restaurant firm's financial performance. Two financial measures (i.e., return on asset and Tobin's q) were used to capture a firm's short-term profitability and the market's evaluation of a firm's future profitability. The study found that external CSR enhances a firm's market value but is negatively related to operational profitability. Internal CSR increases a firm's operational profitability but has no effect on a firm's market value. This study examines the stakeholder perspective of CSR, considering a variety of performance indicators, to provide a more in-depth understanding of CSR.

Subfields: Accounting, Marketing, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/8562b1e81a22b416b90f0df36a5308ab2d8d62fa