¿Influye la Responsabilidad Social Corporativa en el rendimiento financiero de las empresas del IBEX-35?un análisis empírico con datos de panel para el periodo 2003-2008
- Jorge Moreno, Justo de
- Olmo García, Francisco del
- Mata Yedra, Juan Ignacio
- Santos Vasco, Alberto
ISSN: 1888-2927
Year of publication: 2010
Issue: 8
Pages: 9-26
Type: Article
More publications in: Estudios de Economía y Empresa
Sustainable development goals
Abstract
The objective of this research is to determine the influence of corporate social responsibility (CSR) has on financial perfomance (FP) of the companies in the IBEX-35 for 2003-2008. To mesure CSR, we used the index published by the Centre for Corporate Social Responsibility. The main result obtained shows that the estimated models that we have obtained show a curvilinear relationship in the form of J, between the variables representing the PF and the RSC variable in two models, a linear one in the third. The J-shaped pattern indicates that it is necessary to carry out a certain level of CSR activities (threshold level) from which point additional actions are associated with higher levels RSC in a growing trend. The implications of the results achieved in this work, may decrease the existing skepticism about CSR. A higher reputation and transparency of business activities and lower risk in environmental terms could lead to a greater commitment on the part of leaders and managers to socially responsible business strategies which look beyond profit.