Abnormal CSR and financial performance
dc.contributor.author | Lopatta, K | |
dc.contributor.author | Canitz, F | |
dc.contributor.author | Tideman, SA | |
dc.date.accessioned | 2022-07-01T13:56:27Z | |
dc.date.issued | 2022-06-10 | |
dc.date.updated | 2022-07-01T13:30:02Z | |
dc.description.abstract | This study develops a corporate social responsibility (CSR) measure for abnormal CSR. Based on a microeconomic framework, we argue and show that firm-level variables determine a firm-specific, normal (expected) level of CSR performance, where the marginal costs of CSR equal its marginal benefits. Any deviation from these equilibrium points is a proxy for abnormal CSR, which is negatively related to a firm’s short-term financial performance (i.e., profitability). Hereby, larger values result in proportionally larger decreases in financial performance (inverted U-shape). We conduct our empirical analyses using cross-sectional CSR performance data for U.S. listed companies from 1991 to 2013. Further analyses reveal that this negative effect of abnormal CSR exists for both positive and negative abnormal CSR. Our results hold for alternative measures of firm and CSR performance, an instrumental variable regression, and propensity score matching. Our model could serve as a first indicator for abnormal CSR for investors and other stakeholders | en_GB |
dc.format.extent | 1-27 | |
dc.identifier.citation | Published online 10 June 2022 | en_GB |
dc.identifier.doi | https://doi.org/10.1080/09638180.2022.2084134 | |
dc.identifier.uri | http://hdl.handle.net/10871/130122 | |
dc.identifier | ORCID: 0000-0003-1735-457X (Tideman, Sebastian Andreas) | |
dc.language.iso | en | en_GB |
dc.publisher | Routledge | en_GB |
dc.rights | © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercialNoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. | en_GB |
dc.subject | Corporate Social Responsibility | en_GB |
dc.subject | CSR | en_GB |
dc.subject | Profitability | en_GB |
dc.subject | Abnormal CSR | en_GB |
dc.subject | Financial Performance | en_GB |
dc.title | Abnormal CSR and financial performance | en_GB |
dc.type | Article | en_GB |
dc.date.available | 2022-07-01T13:56:27Z | |
dc.identifier.issn | 0963-8180 | |
dc.description | This is the final version. Available from Routledge via the DOI in this record. | en_GB |
dc.description | Data Availability Statement: The data that support the findings of this study are available from public sources as described in the manuscript. Restrictions apply to the availability of these data, which were used under license for this study | en_GB |
dc.identifier.eissn | 1468-4497 | |
dc.identifier.journal | European Accounting Review | en_GB |
dc.relation.ispartof | European Accounting Review | |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | en_GB |
dcterms.dateAccepted | 2022-05-23 | |
rioxxterms.version | VoR | en_GB |
rioxxterms.licenseref.startdate | 2022-06-10 | |
rioxxterms.type | Journal Article/Review | en_GB |
refterms.dateFCD | 2022-07-01T13:49:23Z | |
refterms.versionFCD | VoR | |
refterms.dateFOA | 2022-07-01T13:56:34Z | |
refterms.panel | C | en_GB |
refterms.dateFirstOnline | 2022-06-10 |
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Except where otherwise noted, this item's licence is described as © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group
This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercialNoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use,
distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered,
transformed, or built upon in any way.