The association between corporate social-responsibility and financial performance: The paradox of social cost [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Ezio Di Nucci
Jack Alan Reynolds
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Journal of Business Ethics 15 (3):321 - 357 (1996)
It is generally assumed that common stock investors are exclusively interested in earning the highest level of future cash-flow for a given amount of risk. This view suggests that investors select a well-diversified portfolio of securities to achieve this goal. Accordingly, it is often assumed that investors are unwilling to pay a premium for corporate behavior which can be described as socially-responsible.Recently, this view has been under increasing attack. According to the Social Investment Forum, at least 538 institutional investors now allocate funds using social screens or criteria. In addition, Alice Tepper Marlin, president of the New York-based Council on Economic Priorities has recently estimated that about $600 billion of invested funds are socially-screened (1992).
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References found in this work BETA
Robert Nozick (1981). Philosophical Explanations. Harvard University Press.
Thomas Mulligan (1986). A Critique of Milton Friedman's Essay 'the Social Responsibility of Business is to Increase its Profits'. Journal of Business Ethics 5 (4):265 - 269.
Betty S. Coffey & Gerald E. Fryxell (1991). Institutional Ownership of Stock and Dimensions of Corporate Social Performance: An Empirical Examination. [REVIEW] Journal of Business Ethics 10 (6):437 - 444.
Melville T. Cottrill (1990). Corporate Social Responsibility and the Marketplace. Journal of Business Ethics 9 (9):723 - 729.
Rajib N. Sanyal & Joao S. Neves (1991). The Valdez Principles: Implications for Corporate Social Responsibility. [REVIEW] Journal of Business Ethics 10 (12):883 - 890.
Citations of this work BETA
Manuel Castelo Branco & Lúcia Lima Rodrigues (2006). Corporate Social Responsibility and Resource-Based Perspectives. Journal of Business Ethics 69 (2):111 - 132.
Duygu Turker (2009). How Corporate Social Responsibility Influences Organizational Commitment. Journal of Business Ethics 89 (2):189 - 204.
Roberto Garcia-Castro, Miguel A. Ariño & Miguel A. Canela (2010). Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity. Journal of Business Ethics 92 (1):107 - 126.
Hsiang-Lin Chih, Hsiang-Hsuan Chih & Tzu-Yin Chen (2010). On the Determinants of Corporate Social Responsibility: International Evidence on the Financial Industry. [REVIEW] Journal of Business Ethics 93 (1):115 - 135.
Andrea J. S. Stanaland, May O. Lwin & Patrick E. Murphy (2011). Consumer Perceptions of the Antecedents and Consequences of Corporate Social Responsibility. Journal of Business Ethics 102 (1):47-55.
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