Corporate Social Responsibility: Strategic Implications

Journal of Management Studies (Impact Factor: 4.26). 02/2006; 43(1):1-18. DOI: 10.1111/j.1467-6486.2006.00580.x
Source: RePEc

ABSTRACT We describe a variety of perspectives on corporate social responsibility (CSR), which we use to develop a framework for consideration of the strategic implications of CSR. Based on this framework, we propose an agenda for additional theoretical and empirical research on CSR. We then review the papers in this special issue and relate them to the proposed agenda. Copyright Blackwell Publishing Ltd 2006.

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Available from: Abagail Mcwilliams, Aug 12, 2015
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    • "As a consequence, the relationship between ESG performance and market value is expected to be negative. Second, in contrast, the value creation school regards ESG engagement as an instrument to generate competitive advantages and to improve nancial returns to shareholders (Alexander and Buchholz, 1978; Porter and VanDerLinde, 1995; McWilliams et al., 2006; Porter and Kramer, 2006). Therefore, the aforementioned relationship is expected to be positive. "
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    DESCRIPTION: This paper studies the effectiveness of a firm's strategy to report on its environmental, social and corporate governance (ESG) activities with regard to the extent and direction in which the firm's ESG performance gets valued by capital market investors. It is the first to disentangle different types of ESG reports and to analyze whether voluntarily following the current global trend of integrated report (IR) is worth the effort. Based on the empirical analysis of a large and diversified international set of exchange-listed firms, we find that ESG performance gets valued more strongly and in the (desired) positive direction in case a firm publishes an ESG report, irrespective of its type. Furthermore, results indicate that publishing an integrated report is not resulting in superior outcomes compared to a separate report. Similarly, signaling sustainability leadership by engaging in developing and moving towards an IR setup does not influence the value-relevance of ESG performance either. Our results are important for corporate managers as they help to understand investors' perception of ESG performance and provide guidance for formulating and evaluating the reporting strategy, accordingly.
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    • "showed that reputation and financial performance are positively correlated. The reputation can be enhanced or impaired as a result of the decision of whether or not to engage in environmental activities and to disclose environment-related information (Fombrun et al., 2000; Branco and Rodrigues, 2006; McWilliams et al., 2006; Husted and Allen, 2001). However, since proactive initiatives often lack a clear definition of the firm's goals, it can be received with skepticism from the external public, clients and even the regulation bodies. "
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    ABSTRACT: Why do firms that present low levels of (direct) carbon emissions participate in “carbon clubs”, which have the goal of managing and reducing greenhouse gas (GHG) emissions? In order to answer this question, we collected data from both primary and secondary sources from firms operating in the Brazilian banking sector, which are members of the Businesses for Climate Platform (Plataforma Empresas pelo Clima – EPC). We first looked for answers in the institutional theory and resource based view of the firm (RBV). By confronting the arguments presented by these streams of scientific enquiry with empirical data, we worked on theory testing. In particular, we analyzed the institutional pressures and resources and capabilities of the focus companies, in order to understand the rationales for proactive sustainability management. We found evidences of the arguments presented by both the institutional theory and the RBV. By studying an industry that is not a frequent subject to research on socio-environmental issues – for not being considered of high impact – in an emerging market economy, the research contributes to both the further development of the institutional theory and the advancement of sustainability management in corporations.
    Journal of Cleaner Production 06/2015; 96(Integrating Cleaner Production into Sustainability Strategies):387-396. DOI:10.1016/j.jclepro.2014.01.007 · 3.84 Impact Factor
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    • "eps related to inventory management and propose solu tions to enhance inventory efficiency ( high CSR levels ) . This study also shows that the outcome of an inventory system is influenced by the pressures of different stakeholders . Such finding is a contribution to the literature on the ability of stake holders to influence corporate decisions ( McWilliams et al . , 2006 ) . This study extends the literature on the implications of social and environmental efforts on manufacturing performance ( e . g . , Porter and Van Der Linde , 1995 ) by focusing on a particular dimension of this performance : the inventory policy ."
    Dataset: IJPE2013
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