Corporate responsibility and financial performance: the role of intangible resources
Universidad Carlos III de Madrid · Boston College
Abstract
Abstract This paper examines the effects of a firm's intangible resources in mediating the relationship between corporate responsibility and financial performance. We hypothesize that previous empirical findings of a positive relationship between social and financial performance may be spurious because the researchers failed to account for the mediating effects of intangible resources. Our results indicate that there is no direct relationship between corporate responsibility and financial performance—merely an indirect relationship that relies on the mediating effect of a firm's intangible resources. We demonstrate our theoretical contention with the use of a database comprising 599 companies from 28…
Citation impact
- FWCI
- 87.34
- Percentile
- 100%
- References
- 123
Authors
3Topics & keywords
- Corporate social responsibility
- Spurious relationship
- Business
- Positive relationship
- Intangible good
- Empirical research
- Accounting
- Industrial organization