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Does it pay to be different? An analysis of the relationship between corporate social and financial performance

Brammer, Stephen, Millington, Andrew·2008·Strategic Management Journal

Abstract

This study explores the relationship between corporate social performance (CSP) and corporate financial performance (CFP) within the context of a specific component of CSP: corporate charitable giving. A model of the determinants of the extent of corporate charitable giving is estimated and used as the basis of a classification that groups firms according to the difference between their actual and their predicted intensity of gift giving. The financial performance attributes of the classification are explored. We found that firms with both unusually high and low CSP have higher financial performance than other firms, with unusually poor social performers doing best in the short run and unusually good social performers doing best over longer time horizons. Copyright © 2008 John Wiley & Sons, Ltd.

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Citations

Cites

Research works printed but not linked: 54

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Metadata

Authors
Brammer, S., & Millington, A.
Venue
Strategic Management Journal
Publisher
Wiley
Published
2008-09-19
Volume
29
Issue
12
Pages
1325-1343
ISSN
  • 0143-2095 (ISSN-L)
  • 1097-0266
OpenAlex
W2037689620
Cited by
1,367
References
9
FWCI
63.14
Type
journal article
Language
en
Open access
closed

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