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The Effect of Corporate Social Performance on the Financial Performance of Business-to-Business and Business-to-Consumer Firms

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dc.contributor.authorStamatogiannakis, Antonios
dc.contributor.authorLuffarelli, Jonathan
dc.contributor.authorMarkou, Panos
dc.contributor.authorGonçalves, Dilney
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2025-02-19T12:40:43Z
dc.date.available2025-02-19T12:40:43Z
dc.date.issued2019-03-27
dc.description.abstractThere exists a widespread managerial belief that higher corporate social performance (CSP) increases both firm value and sales. Although numerous studies provide evidence of a positive effect of CSP on firm value, whether CSP can impact sales remains largely unknown. Can CSP influence sales? Is this effect contingent on the product-market profile, that is, on whether firms operate in business or consumer markets? We use a panel dataset comprising 23,769 firm-year observations to help address these questions. We find that higher CSP has a strong negative effect on sales for business-toconsumer firms but an insignificant or economically trivial effect for business-to-business firms. However, we also find that higher CSP has a positive effect on firm value for both types of firms. Taken together, these results demonstrate that higher CSP results in higher firm value but can hurt sales. We discuss the theoretical contributions and managerial implications of these findings.
dc.description.peerreviewedyes
dc.description.statusPublished
dc.formatapplication/pdf
dc.identifier.citationLuffarelli, J., Markou, P., Stamatogiannakis, A., & Gonçalves, D. (2019). The effect of corporate social performance on the financial performance of business‐to‐business and business‐to‐consumer firms. Corporate Social Responsibility and Environmental Management, 26(6), 1333-1350. https://doi.org/10.1002/csr.1750.
dc.identifier.doihttps://doi.org/10.1002/csr.1750
dc.identifier.issn1535-3966
dc.identifier.urihttps://hdl.handle.net/20.500.14417/3592
dc.issue.number6
dc.journal.titleCorporate Social Responsibility and Environmental Management
dc.language.isoen
dc.page.total36
dc.publisherWiley
dc.relation.departmentMarketing & Communication
dc.relation.entityIE University
dc.relation.schoolIE Business School
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.en
dc.subject.keywordB2C and B2B firms
dc.subject.keywordCorporate social performance
dc.subject.keywordFinancial performance
dc.subject.keywordProduct-market profile
dc.subject.keywordSales
dc.titleThe Effect of Corporate Social Performance on the Financial Performance of Business-to-Business and Business-to-Consumer Firms
dc.typeinfo:eu-repo/semantics/article
dc.version.typeinfo:eu-repo/semantics/acceptedVersion
dc.volume.number26
dspace.entity.typePublication
relation.isAuthorOfPublication8368891b-922d-4636-bed4-79babb4c29f2
relation.isAuthorOfPublication.latestForDiscovery8368891b-922d-4636-bed4-79babb4c29f2
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