مقاله انگلیسی رایگان در مورد آیا بهره وری سرمایه فکری، رابطه مسئولیت اجتماعی شرکت و عملکرد شرکت را توضیح می دهد؟ – الزویر 2021

Abstract

Keywords

JEL classification

1. Introduction

2. Theoretical framework

3. Research methodology

4. Results and discussion

5. Conclusion and implications

Appendix A. Supplementary data

Conflict of interest

References

Abstract

This paper examines the effect of corporate social responsibility on firm performance by accounting for the role of Intellectual capital efficiency as a mechanism underlying Corporate Social Responsibility (CSR)– firm performance association. In this study, we consider 2132 US companies and develop a structural model for CSR, Intellectual Capital (IC), and firm performance while contemplating endogeneity issues in analyses over the period of 2009–2018. The value-added intellectual capital co-efficient is employed as a proxy measure for IC performance, taking into consideration corporate performance and governance measures. The findings suggest that CSR has a significant effect on firm performance. In particular, the findings reveal that CSR has a link with IC, indirectly affecting a firm performance, and the association between CSR and firm performance is partially mediated by Intellectual capital efficiency.

1. Introduction

Increased globalization and the emergence of knowledge-based economies revolutionized the meaning of Corporate Social Responsibility (CSR) via altering the basic philosophy of society and businesses. CSR practices drive contemporary businesses to contemplate social along with the economic aspects. Thus, a modern enterprise deems both economic and social aspects imperative during decision-making (Sarkar, 2005). Enterprises participate in CSR activities to overcome agency problems thus generating relatitnal assets and moral capital consequently boosting a firm’s performance. When firms engage in CSR activities, several benefits are achieved which include reduced employees’ turnover rates, increased employees’ commitment, increased satisfaction level of customers and enhanced customer loyalty consequently, all of which improve a firm’s reputation (Rehman, Baloch, & Sethi, 2015).

This new route for an enterprise is guided by CSR-forced modern corporate entities to implement practices that are in line with stakeholders’ perceptions and expectations. Consequently, the nexus between enterprises and society transformed the roles and responsibilities of businesses in society. The inclusion of societal aspects in enterprise decision-making is not without challenges and is imperiled by a trade-off between the cost and benefits for a business. On the contrary, Porter and Kramer (2006) view CSR facets as a competitive advantage rather than a cost or constraint if they are incorporated into the strategic framework of an enterprise.