Corporate Social Responsibility and Financial Performance: A Typology for Service Industries.

Keywords

corporate social rsponsibility, financial performance, typology, services

Abstract

This paper presents a model that encapsulates a firm’s financial performance and its performance relative to CSR initiatives. The model was developed to fill a gap by providing stakeholders with a quick way to ascertain both a firm’s CSR initiatives and its financial viability simultaneously. The proposed model was developed based on a review of financial and corporate social responsibility related literature and incorporates widely used and empirically tested CSR and financial performance assessment measures. The Corporate Socially Responsible and Financial Performance (CSRFINP) model proposes that a firm can be assessed and assigned a score based on its performance on predetermined CSR dimensions as well as it financial performance on predetermined financial criteria. Firms can fall into one of the model’s four quadrants based on their CSR and financial performance scores. If a company is pursuing purely financial initiatives and performs well on those initiatives, it will find itself in the black or the “Aggressive” quadrant. Conversely, if a company is a nonprofit entity and pursues purely social responsibility initiatives, then this company will be a truly “Green” company and be placed in the “Green” quadrant. Companies that perform well on both social responsibility and financial initiatives will fall into the “Blue” or progressive quadrant. Companies that underperform on both financial and socially responsible initiatives fall into the yellow or “Repressive” quadrant.

Publication Date

9-1-2009

Original Citation

Jackson, L.A. & Parsa, H.G. (2009). Corporate social responsibility and financial performance: A typology for service industries. International Journal of Business Insights and Transformation. 2(2), 13-21.

Number of Pages

13-21

Document Type

Paper

Language

English

Source Title

International Journal of Business Insights and Transformation

Volume

2

Issue

2

College

Rosen College of Hospitality Management

Location

Rosen College of Hospitality Management

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