Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/206343 
Erscheinungsjahr: 
2016
Quellenangabe: 
[Journal:] BRQ Business Research Quarterly [ISSN:] 2340-9436 [Volume:] 19 [Issue:] 2 [Publisher:] Elsevier España [Place:] Barcelona [Year:] 2016 [Pages:] 137-151
Verlag: 
Elsevier España, Barcelona
Zusammenfassung: 
The objective of this theoretical–empirical study is to investigate the bidirectional relationship between Corporate Social Responsibility and Financial Performance in Spanish listed companies. A complete theoretical framework – based on agency, stewardship, dependency resources, and stakeholder theories – provides the basis for the conceptual model. An important contribution is the use of a social behavioral index formed by four components: Global Reporting Initiative participation, Dow Jones Sustainability Index firm inclusion, Good Corporate Governance Recommendations compliance, and Global Compact signee. The conclusions drawn from the empirical study performed on the companies registered on the Madrid Stock Exchange demonstrate positive relationships in both directions, namely that the social is profitable and that the profitable is social, thereby originating a positive feedback virtuous circle. The results of this analysis have practical applications in the boardroom; they are proof that all social policies increment financial resources, and vice versa, that increased financial performances lead to greater social benefits. As a consequence, this paper encourages all board members to seriously weigh investing financial resources in developing policies that boost the levels of social behavior components in order to contribute globally to the improvement of society."
Schlagwörter: 
Corporate social responsibility
Financial performance
Good corporate governance
Spanish listed companies
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