& marketing
Challenges for the Knowledge Society
ISSN 2069–8887
ISSN-L 1842-0206
The official journal of the
Society for Business Excellence
- Open acces -
  Search in site
Search in
  Social Media
  Databases listing
» RePEc
        › IDEAS
        › EconPapers
  Special Issues
» International Conference on Business Excellence, 18-19 October 2013 - Volume 8, Special Issue
  Manuscript submission

Submit manuscripts to
  General information

The journal is published by
Editura Economica, quaterly

Management & Marketing - authors Liliana Nicoleta SIMIONESCU

Corporate social responsibility and corporate performance: empirical evidence from a panel of the Bucharest Stock Exchange listed companies
Abstract. This paper aims at empirically investigating the relationship between CSR and corporate performance by using both accounting-based performance measures (e.g. ROA, ROE, and ROS), as well as market-based firm performance measures (e.g. PER, EPS, and PBV), for a sample of companies listed on the BSE during the period 2008-2011. In addition, there were considered several control variables that cover firm’s characteristics including size, indebtedness, as well as the company’s tenure. By employing panel data regression models without cross-section effects, we found a negative relationship between CSR and ROS, as well as a positive association between CSR and EPS. Furthermore, by estimating fixed-effects panel data regression models, the positive relationship between CSR and EPS was reinforced. In addition, we have performed several robustness checks such as the presence of autocorrelation in the residuals, as well as the variance inflation factors towards multicollinearity. The novelty of the current paper consists in the consideration of a multifarious set of performance ratios. This research is important for both managers and investors, since CSR undertakings improve corporate performance.
Keyword: corporate social responsibility, accounting-based performance, market-based performance, Romania, panel data regression models.
[ archives ]     
The Classes of Economic Concentration and the 80% Factor , Cezar Mereuță
Foreign Majority Ownership in the Node Companies of the Main Markets in Romania - Compendium , Cezar Mereuță, Ionuț Pandelică, Amalia Pandelică
[ journals archives ]     

Home | About us | Conferences | Publications | Archives | Submission guidelines | Contact