메뉴 건너뛰기




Volumn 33, Issue 11, 2012, Pages 1304-1320

Does it pay to be really good? addressing the shape of the relationship between social and financial performance

Author keywords

business case; corporate financial performance; corporate social performance; stakeholder influence capacity; stakeholder theory

Indexed keywords

BUSINESS CASE; FINANCIAL PERFORMANCE; SOCIAL PERFORMANCE; STAKEHOLDER INFLUENCE CAPACITY; STAKEHOLDER THEORY;

EID: 84866238516     PISSN: 01432095     EISSN: 10970266     Source Type: Journal    
DOI: 10.1002/smj.1980     Document Type: Article
Times cited : (912)

References (50)
  • 1
    • 25944456463 scopus 로고    scopus 로고
    • Perils of corporate philanthropy
    • 16 January, 1-2
    • Alsop R,. 2002. Perils of corporate philanthropy. Wall Street Journal, 16 January, 1-2.
    • (2002) Wall Street Journal
    • Alsop, R.1
  • 2
    • 34547340020 scopus 로고    scopus 로고
    • Stakeholder influence capacity and the variability of financial returns to corporate social responsibility
    • Barnett ML,. 2007. Stakeholder influence capacity and the variability of financial returns to corporate social responsibility. Academy of Management Review 32 (3): 794-816.
    • (2007) Academy of Management Review , vol.32 , Issue.3 , pp. 794-816
    • Barnett, M.L.1
  • 3
    • 33750080182 scopus 로고    scopus 로고
    • Beyond dichotomy: The curvilinear relationship between social responsibility and financial performance
    • Barnett ML, Salomon RM,. 2006. Beyond dichotomy: the curvilinear relationship between social responsibility and financial performance. Strategic Management Journal 27 (11): 1101-1122.
    • (2006) Strategic Management Journal , vol.27 , Issue.11 , pp. 1101-1122
    • Barnett, M.L.1    Salomon, R.M.2
  • 5
    • 56549100652 scopus 로고    scopus 로고
    • Does it pay to be different? An analysis of the relationship between corporate social and financial performance
    • Brammer S, Millington A,. 2008. Does it pay to be different? An analysis of the relationship between corporate social and financial performance. Strategic Management Journal 29 (12): 1325-1343.
    • (2008) Strategic Management Journal , vol.29 , Issue.12 , pp. 1325-1343
    • Brammer, S.1    Millington, A.2
  • 6
    • 0000758307 scopus 로고
    • A three-dimensional conceptual model of corporate performance
    • Carroll A,. 1979. A three-dimensional conceptual model of corporate performance. Academy of Management Review 4 (4): 497-505.
    • (1979) Academy of Management Review , vol.4 , Issue.4 , pp. 497-505
    • Carroll, A.1
  • 8
    • 0002182692 scopus 로고
    • Corporate social responsibility and financial performance
    • Cochran P, Wood R,. 1984. Corporate social responsibility and financial performance. Academy of Management Journal 27: 42-56.
    • (1984) Academy of Management Journal , vol.27 , pp. 42-56
    • Cochran, P.1    Wood, R.2
  • 10
    • 84936166194 scopus 로고
    • Absorptive capacity: A new perspective on learning and innovation
    • 35
    • Cohen W, Levinthal D,. 1990. Absorptive capacity: a new perspective on learning and innovation. Administrative Science Quarterly 35: 128-152.
    • (1990) Administrative Science Quarterly , pp. 128-152
    • Cohen, W.1    Levinthal, D.2
  • 11
    • 33646192705 scopus 로고    scopus 로고
    • The effects of CEO pay structure on corporate social performance
    • Deckop JR, Merriman KK, Gupta S,. 2006. The effects of CEO pay structure on corporate social performance. Journal of Management 32 (3): 329-342.
    • (2006) Journal of Management , vol.32 , Issue.3 , pp. 329-342
    • Deckop, J.R.1    Merriman, K.K.2    Gupta, S.3
  • 13
    • 67649556082 scopus 로고    scopus 로고
    • Investment, financing constraints, and internal capital markets: Evidence from the advertising expenditures of multinational firms
    • Fee CE, Hadlock CD, Pierce JR,. 2009. Investment, financing constraints, and internal capital markets: evidence from the advertising expenditures of multinational firms. Review of Financial Studies 22: 2361-2392.
    • (2009) Review of Financial Studies , vol.22 , pp. 2361-2392
    • Fee, C.E.1    Hadlock, C.D.2    Pierce, J.R.3
  • 14
    • 0038650313 scopus 로고    scopus 로고
    • Opportunity platforms and safety nets: Corporate citizenship and reputational risk
    • Fombrun CJ, Gardberg NA, Barnett ML,. 2000. Opportunity platforms and safety nets: corporate citizenship and reputational risk. Business and Society Review 105: 85-106.
    • (2000) Business and Society Review , vol.105 , pp. 85-106
    • Fombrun, C.J.1    Gardberg, N.A.2    Barnett, M.L.3
  • 16
    • 44449129627 scopus 로고    scopus 로고
    • Dialogue: Toward superior stakeholder theory
    • Freeman R,. 2008. Dialogue: toward superior stakeholder theory. Business Ethics Quarterly 18 (2): 153-190.
    • (2008) Business Ethics Quarterly , vol.18 , Issue.2 , pp. 153-190
    • Freeman, R.1
  • 17
    • 0001788578 scopus 로고
    • The social responsibility of business is to increase its profits
    • 13 September
    • Friedman M,. 1970. The social responsibility of business is to increase its profits. New York Times Magazine, 13 September, 122-126.
    • (1970) New York Times Magazine , pp. 122-126
    • Friedman, M.1
  • 18
    • 0041295400 scopus 로고
    • Institutional owners and corporate social performance
    • Graves SB, Waddock SA,. 1994. Institutional owners and corporate social performance. Academy of Management Journal 37 (4): 1035-1046.
    • (1994) Academy of Management Journal , vol.37 , Issue.4 , pp. 1035-1046
    • Graves, S.B.1    Waddock, S.A.2
  • 19
    • 0004296209 scopus 로고    scopus 로고
    • Prentice-Hall: Upper Saddle River, NJ
    • Greene WH,. 2000. Econometric Analysis. Prentice-Hall: Upper Saddle River, NJ.
    • (2000) Econometric Analysis
    • Greene, W.H.1
  • 20
    • 84992828769 scopus 로고    scopus 로고
    • Corporate social performance as a competitive advantage in attracting a quality workforce
    • Greening D, Turban W,. 2000. Corporate social performance as a competitive advantage in attracting a quality workforce. Business and Society 39 (3): 254-280.
    • (2000) Business and Society , vol.39 , Issue.3 , pp. 254-280
    • Greening, D.1    Turban, W.2
  • 21
    • 0000171195 scopus 로고    scopus 로고
    • The corporate social performance and corporate financial performance debate: Twenty-five years of incomparable research
    • Griffin JJ, Mahon JF,. 1997. The corporate social performance and corporate financial performance debate: twenty-five years of incomparable research. Business and Society 36 (1): 5-31.
    • (1997) Business and Society , vol.36 , Issue.1 , pp. 5-31
    • Griffin, J.J.1    Mahon, J.F.2
  • 22
    • 0033247290 scopus 로고    scopus 로고
    • Stakeholders, social responsibility and performance: Empirical evidence and theoretical perspectives
    • Harrison JS, Freeman RE,. 1999. Stakeholders, social responsibility and performance: empirical evidence and theoretical perspectives. Academy of Management Journal 42 (5): 479-485.
    • (1999) Academy of Management Journal , vol.42 , Issue.5 , pp. 479-485
    • Harrison, J.S.1    Freeman, R.E.2
  • 23
    • 0038159332 scopus 로고    scopus 로고
    • Shareholder value, stakeholder management, and social issues: What's the bottom line?
    • Hillman AJ, Keim GD,. 2001. Shareholder value, stakeholder management, and social issues: what's the bottom line? Strategic Management Journal 22 (2): 125-139.
    • (2001) Strategic Management Journal , vol.22 , Issue.2 , pp. 125-139
    • Hillman, A.J.1    Keim, G.D.2
  • 24
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs, and ownership structure
    • Jensen M, Meckling W,. 1976. Theory of the firm: managerial behavior, agency costs, and ownership structure. Journal of Financial Economics 3: 305-360.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.1    Meckling, W.2
  • 25
    • 0033247298 scopus 로고    scopus 로고
    • The effects of corporate governance and institutional ownership types on corporate social performance
    • Johnson RA, Greening DW,. 1999. The effects of corporate governance and institutional ownership types on corporate social performance. Academy of Management Journal 42 (5): 564-576.
    • (1999) Academy of Management Journal , vol.42 , Issue.5 , pp. 564-576
    • Johnson, R.A.1    Greening, D.W.2
  • 26
    • 21844519987 scopus 로고
    • Instrumental stakeholder theory: A synthesis of ethics and economics
    • Jones T,. 1995. Instrumental stakeholder theory: a synthesis of ethics and economics. Academy of Management Review 20 (2): 404-437.
    • (1995) Academy of Management Review , vol.20 , Issue.2 , pp. 404-437
    • Jones, T.1
  • 28
    • 0003114405 scopus 로고    scopus 로고
    • Competencies and firm performance: Examining the causal ambiguity paradox
    • King AW, Zeithaml CP,. 2001. Competencies and firm performance: examining the causal ambiguity paradox. Strategic Management Journal 22 (1): 75-99.
    • (2001) Strategic Management Journal , vol.22 , Issue.1 , pp. 75-99
    • King, A.W.1    Zeithaml, C.P.2
  • 30
    • 36148970813 scopus 로고    scopus 로고
    • Alliance portfolios and firm performance: A study of value creation and appropriation in the U.S. software industry
    • Lavie D,. 2007. Alliance portfolios and firm performance: a study of value creation and appropriation in the U.S. software industry. Strategic Management Journal 28 (12): 1187-1212.
    • (2007) Strategic Management Journal , vol.28 , Issue.12 , pp. 1187-1212
    • Lavie, D.1
  • 31
    • 84989029859 scopus 로고
    • The resource-based view within the conversation of strategic management
    • Mahoney JT, Pandian JR,. 1992. The resource-based view within the conversation of strategic management. Strategic Management Journal 13 (5): 363-380.
    • (1992) Strategic Management Journal , vol.13 , Issue.5 , pp. 363-380
    • Mahoney, J.T.1    Pandian, J.R.2
  • 32
    • 0347569255 scopus 로고    scopus 로고
    • Misery loves company: Rethinking social initiatives by business
    • Margolis J, Walsh J,. 2003. Misery loves company: rethinking social initiatives by business. Administrative Science Quarterly 48: 268-305.
    • (2003) Administrative Science Quarterly , vol.48 , pp. 268-305
    • Margolis, J.1    Walsh, J.2
  • 33
    • 68249162375 scopus 로고    scopus 로고
    • Agency problems at dual-class companies
    • Masulis RW, Wang C, Xei F,. 2009. Agency problems at dual-class companies. Journal of Finance 64: 1697-1727.
    • (2009) Journal of Finance , vol.64 , pp. 1697-1727
    • Masulis, R.W.1    Wang, C.2    Xei, F.3
  • 34
    • 42149121444 scopus 로고    scopus 로고
    • The performance implications of participating in an acquisition wave: Early mover advantages, bandwagon effects, and the moderating influence of industry characteristics and acquirer tactics
    • McNamara GM, Haleblian J, Dykes BJ,. 2008. The performance implications of participating in an acquisition wave: early mover advantages, bandwagon effects, and the moderating influence of industry characteristics and acquirer tactics. Academy of Management Journal 51 (1): 113-30.
    • (2008) Academy of Management Journal , vol.51 , Issue.1 , pp. 113-130
    • McNamara, G.M.1    Haleblian, J.2    Dykes, B.J.3
  • 35
    • 0036474938 scopus 로고    scopus 로고
    • Examining the effect of complexity in strategic group knowledge structures on firm performance
    • McNamara GM, Luce RA, Tompson GH,. 2002. Examining the effect of complexity in strategic group knowledge structures on firm performance. Strategic Management Journal 23 (2): 153-170.
    • (2002) Strategic Management Journal , vol.23 , Issue.2 , pp. 153-170
    • McNamara, G.M.1    Luce, R.A.2    Tompson, G.H.3
  • 36
    • 0000253595 scopus 로고    scopus 로고
    • Corporate social responsibility and financial performance: Correlation or misspecification?
    • McWilliams A, Siegel D,. 2000. Corporate social responsibility and financial performance: correlation or misspecification? Strategic Management Journal 21 (5): 603-609.
    • (2000) Strategic Management Journal , vol.21 , Issue.5 , pp. 603-609
    • McWilliams, A.1    Siegel, D.2
  • 37
    • 0035529262 scopus 로고    scopus 로고
    • Corporate social responsibility: A theory of the firm perspective
    • McWilliams A, Siegel D,. 2001. Corporate social responsibility: a theory of the firm perspective. Academy of Management Review 26 (1): 117-127.
    • (2001) Academy of Management Review , vol.26 , Issue.1 , pp. 117-127
    • McWilliams, A.1    Siegel, D.2
  • 38
    • 0042090748 scopus 로고    scopus 로고
    • Corporate social and financial performance: A meta-analysis
    • Orlitzky M, Schmidt F, Rynes S,. 2003. Corporate social and financial performance: a meta-analysis. Organization Studies 24: 403-441.
    • (2003) Organization Studies , vol.24 , pp. 403-441
    • Orlitzky, M.1    Schmidt, F.2    Rynes, S.3
  • 39
  • 41
    • 84992904020 scopus 로고    scopus 로고
    • A brand new brand of corporate social performance
    • Rowley T, Berman S,. 2000. A brand new brand of corporate social performance. Business and Society 39 (4): 397-418.
    • (2000) Business and Society , vol.39 , Issue.4 , pp. 397-418
    • Rowley, T.1    Berman, S.2
  • 42
    • 0032325320 scopus 로고    scopus 로고
    • The development of a systematic, aggregate measure of corporate social performance
    • Ruf BM, Muralidhar K, Paul K,. 1998. The development of a systematic, aggregate measure of corporate social performance. Journal of Management 24 (1): 119-133.
    • (1998) Journal of Management , vol.24 , Issue.1 , pp. 119-133
    • Ruf, B.M.1    Muralidhar, K.2    Paul, K.3
  • 43
    • 0035845117 scopus 로고    scopus 로고
    • An empirical investigation of the relationship between change in corporate social performance and financial performance: A stakeholder theory perspective
    • Ruf BM, Muralidhar K, Brown RM, Janney JJ, Paul K,. 2001. An empirical investigation of the relationship between change in corporate social performance and financial performance: a stakeholder theory perspective. Journal of Business Ethics 32: 143-156.
    • (2001) Journal of Business Ethics , vol.32 , pp. 143-156
    • Ruf, B.M.1    Muralidhar, K.2    Brown, R.M.3    Janney, J.J.4    Paul, K.5
  • 44
    • 0002453048 scopus 로고
    • Are socially responsible corporations good investment risks?
    • Vance S,. 1975. Are socially responsible corporations good investment risks? Management Review 64: 18-24.
    • (1975) Management Review , vol.64 , pp. 18-24
    • Vance, S.1
  • 45
    • 0001640778 scopus 로고    scopus 로고
    • The corporate social performance-financial performance link
    • Waddock SA, Graves SB,. 1997. The corporate social performance-financial performance link. Strategic Management Journal 18 (4): 303-319.
    • (1997) Strategic Management Journal , vol.18 , Issue.4 , pp. 303-319
    • Waddock, S.A.1    Graves, S.B.2
  • 46
    • 0037298038 scopus 로고    scopus 로고
    • Home country environments, corporate diversification strategies, and firm performance
    • Wan WP, Hoskisson RE,. 2003. Home country environments, corporate diversification strategies, and firm performance. Academy of Management Journal 46 (1): 27-45.
    • (2003) Academy of Management Journal , vol.46 , Issue.1 , pp. 27-45
    • Wan, W.P.1    Hoskisson, R.E.2
  • 47
    • 0032261297 scopus 로고    scopus 로고
    • A typology of consumer responses to cause-related marketing: From skeptics to socially concerned
    • Webb D, Mohr L,. 1998. A typology of consumer responses to cause-related marketing: from skeptics to socially concerned. Journal of Public Policy and Marketing 17: 226-238.
    • (1998) Journal of Public Policy and Marketing , vol.17 , pp. 226-238
    • Webb, D.1    Mohr, L.2
  • 48
    • 0033249247 scopus 로고    scopus 로고
    • The structure of optimal trust: Moral and strategic implications
    • Wicks AC, Berman SL, Jones TM,. 1999. The structure of optimal trust: moral and strategic implications. Academy of Management Review 24 (1): 99-116.
    • (1999) Academy of Management Review , vol.24 , Issue.1 , pp. 99-116
    • Wicks, A.C.1    Berman, S.L.2    Jones, T.M.3
  • 49
    • 84055180761 scopus 로고    scopus 로고
    • On the use and misuse of ratio variables in strategic management research
    • In Berg D. Ketchen D. Jr, (eds). Emerald Ltd: Bingley, UK
    • Wiseman RM,. 2009. On the use and misuse of ratio variables in strategic management research. In Research Methodology in Strategy in Management (Volume 5), Berg D, Ketchen D Jr, (eds). Emerald Ltd: Bingley, UK; 75-110.
    • (2009) Research Methodology in Strategy in Management (Volume 5) , pp. 75-110
    • Wiseman, R.M.1
  • 50
    • 0002628714 scopus 로고    scopus 로고
    • Agency conflict and corporate strategy: The effect of divestment on corporate value
    • Wright P, Ferris SP,. 1997. Agency conflict and corporate strategy: the effect of divestment on corporate value. Strategic Management Journal 18 (1): 77-83.
    • (1997) Strategic Management Journal , vol.18 , Issue.1 , pp. 77-83
    • Wright, P.1    Ferris, S.P.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.