Corporate Social and Financial Performance: An Extended Stakeholder Theory, and Empirical Test with Accounting Measures
Although agreement on the positive sign of the relationship between corporate social and financial performance is observed in the literature, the mechanisms that constitute this relationship are not yet well-known. We address this issue by extending management's stakeholder theory by adding ins...
Veröffentlicht in: | Journal of Business Ethics. - Springer Science + Business Media. - 79(2008), 3, Seite 299-310 |
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Weitere Verfasser: | , |
Format: | Online-Aufsatz |
Sprache: | English |
Veröffentlicht: |
2008
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Zugriff auf das übergeordnete Werk: | Journal of Business Ethics |
Schlagworte: | Panel data analysis Prospect decision theory Resource dependence theory Social responsibility Stakeholder theory Business Philosophy Behavioral sciences Economics |
Zusammenfassung: | Although agreement on the positive sign of the relationship between corporate social and financial performance is observed in the literature, the mechanisms that constitute this relationship are not yet well-known. We address this issue by extending management's stakeholder theory by adding insights from psychology's prospect decision theory and sociology's resource dependence theory. Empirically, we analyze an extensive panel dataset, including information on disaggregated measures of social performance for the S&P 500 in the 1997-2002 period. In so doing, we enrich the extant literature by focusing on stakeholder heterogeneity, perceptional framing, and disaggregated measures of corporate social performance. |
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ISSN: | 15730697 |