Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity

By Roberto García-Castro, Miguel Ángel Ariño, M. Canela. 2010

516 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/8705e9e8e49588786c5351a156f1f7512401b94d

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Citations in the corpus

Do Investors Value a Firm’s Commitment to Social Activities? (2013, unknown): “It has been widely used in prior research as a measure of a firm’s performance (Smith and Watts 1992; Kaplan and Zingales 1997; Pava and Krausz 1996; Garcia-Castro et al. 2010).”
Disclosure effects, carbon emissions and corporate value (2014, methodology): “While these studies address the same basic theme, one reason they provide such a range of results is that the relation between CSP and CFP is largely dependent upon the indicators used for the analysis (Ma, 2006; Garcia-Castro et al., 2010).”
Corporate social responsibility, board of directors, and firm performance: an analysis of their relationships (2014, background): “Keywords CSR Board composition Board independence Firm value Resources available JEL Classification M14 G30”
Revisiting the corporate social performance‐financial performance link: A replication of waddock and graves (2016, result): “However, recent studies have begun to question this generally held belief because prior studies on CSP-CFP relationships suffer from several conceptual and methodological problems (e.g., Bridoux and Stoelhorst, 2014; Garcia-Castro, Ariño, and Canela, 2010; Harrison and Bosse, 2013).”
Corporate Social Responsibility and Firm Value: Disaggregating the Effects on Cash Flow, Risk and Growth (2013, unknown): “Our first contribution has been to extend the analysis in Gregory and Whittaker (2013) by presenting a model that separately estimates the stock market’s valuation of CSR strengths and concerns across multiple dimensions.”
The Signaling Effect of Corporate Social Responsibility in Emerging Economies (2016, background): “Second, some may be concerned that there is an issue of endogeneity in our main relationship between CSR practices and firm financial performance (Garcia-Castro et al. 2010).”
Corporate Social Responsibility and Its Impact on Firms’ Investment Policy, Organizational Structure, and Performance (2012, methodology): “has been a popular measure for CSR in recent studies (e.g., Graves and Waddock 1994, 2000; Waddock and Graves 1997, 2000; Johnson and Greening 1999; Berman et al. 1999; McWilliams and Siegel 2000; Hillman and Keim 2001; Garcia-Castro et al. 2010; Surroca et al. 2010).”
Sustainability Matter and Financial Performance of Companies (2017, background): “In terms of financial performance, the academic literature has identified a wide variety of measures that can be grouped into two large blocks: market-based and accounting measures [15,18].”