The relationship between corporate social responsibility and sustainable financial performance: firm‐level evidence from Taiwan
Abstract
This study examines the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) in Taiwan. Using CSR awards as a social responsibility indicator, this study finds that socially responsible firms can achieve financial results superior to those of firms which do not pursue CSR initiatives. The relationship remains after endogeneity is treated. The Google Search Volume Index (SVI) is used as a specific proxy for firm visibility, observing that it has a positive influence on the CSR–CFP relationship. On further separation of the sample into electronics and non‐electronics industries, the results demonstrate that SVI has a positive influence on the CSR–CFP relationship in the electronics industry. For the non‐electronics industries, the results reveal that board ownership has a significant positive influence on the CSR–CFP relationship, and a negative relationship if it is a family business.
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These companies will be able to obtain better resources, better employees and better opportunities.
“These companies will be able to obtain better resources, better employees and better opportunities.50”
From Artificial Intelligence and Sustainable Decisions (2023) · cites this paper as Hou (2019)
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- Authors
- Hou, T. C.
- Affiliations
- National Dong Hwa University (TW)
- Corresponding author
- Hou, Tony Chieh‐Tse
- ORCID
- Hou, Tony Chieh‐Tse
- Venue
- Corporate Social Responsibility and Environmental Management
- Publisher
- Wiley
- Published
- 2018-07-20
- Volume
- 26
- Issue
- 1
- Pages
- 19-28
- ISSN
- 1535-3958 (ISSN-L)
- 1535-3966
- OpenAlex
- W2884775719
- Cited by
- 290
- References
- 57
- Citations by year
- 2026: 16 · 2025: 28 · 2024: 54 · 2023: 50 · 2022: 52 · 2021: 40 · 2020: 30 · 2019: 18 · 2018: 2
- FWCI
- 37.60
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Corporate Social Responsibility and Environmental Management (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Governance and Financial Management
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Identity and Reputation
- Keywords
- corporate social responsibility, financial performance, CSR awards, firm visibility, Google Search Volume Index, board ownership, family business, electronics industry, Taiwan
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