Re-Thinking the CSP-CFP Linkage: Analyzing the Mechanisms Involved in Translating Socially-Responsible Behavior to Financial Performance


Advances in Strategic Management

2018, vol. 38, pp.227-255

Départements : Comptabilité et Contrôle de Gestion, GREGHEC (CNRS)

Mots clés : Business ethics; corporate social performance; corporate financial performance; corporate social responsibility; mechanisms

In this chapter, we reexamine the notion that socially responsible behavior byfirms will lead to increased financial performance. By identifying the underlyingprocesses, institutional settings, and actors involved, we present a frameworkthat is more attentive to the multiplicity and conditionality of themechanisms operating in the often tenuous connection between firms’ socialbehavior and financial performance. Building and expanding upon existinganalyses of the CSPCFP linkage, our model helps to explain the mixedresults from a wide range of empirical studies which examine this link. It alsoprovides a novel theoretical account to help guide future researches that aremore attentive to conditionalities and contextual contingencies