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A comparative approach to corporate social performance and corporate financial performance: Moderating effects of conformity tendency in the industry
Journal of General Management Pub Date : 2021-04-07 , DOI: 10.1177/0306307020961606
Nara Jeong 1
Affiliation  

This article attempts to revisit the corporate social performance (CSP)-corporate financial performance (CFP) relationship using a comparative approach. Drawing insights from institutional theory and a strategic management perspective, we take into account tensions between conformity and differentiation by industry and year. Using a sample of 1001 firms and 6006 observations from 1993 to 2015, we test and find data in support of the argument that a firm can expect the highest financial performance (CFP) when its social performance (CSP) is slightly higher than the industry average. We also show that a tendency toward low conformity in an industry has a negative impact on this relationship by weakening conformity pressure. Specifically, a firm belonging to an industry with low conformity tendency has more latitude to deviate its social performance without significantly affecting its financial performance. In sum, we show the importance of using comparative approaches in the CSP-CFP literature.



中文翻译:

企业社会绩效和企业财务绩效的比较方法:行业整合趋势的调节效应

本文试图使用一种比较方法来重新审视企业社会绩效(CSP)与企业财务绩效(CFP)的关系。我们从制度理论和战略管理的角度汲取见解,并考虑了行业和年份之间一致性和差异化之间的紧张关系。我们使用1993年至2015年的1001家公司样本和6006项观察数据进行测试并找到数据,以支持这样的论点,即当公司的社会绩效(CSP)略高于行业平均水平时,该公司可以预期最高的财务绩效(CFP) 。我们还表明,行业中趋于低合格的趋势会通过降低合格压力而对该关系产生负面影响。具体来说,属于低整合趋势行业的公司有更大的自由度可以偏离其社会绩效,而不会显着影响其财务绩效。总之,我们显示了在CSP-CFP文献中使用比较方法的重要性。

更新日期:2021-04-08
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