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Corporate Social and Financial Performance: An Extended Stakeholder Theory, and Empirical Test with Accounting Measures

Year: 2007

Type: article

Abstract: 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.

Source: Journal of Business Ethics

DOI: 10.1007/s10551-007-9398-0

Authors: Gerwin Van der Laan, Hans Van Ees, Arjen Van Witteloostuijn

Institutions: University of Groningen, University of Antwerp

Language: English

Topic: Corporate Social Responsibility Reporting

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $3,790

OpenAlex ID: W2167366195