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Journal article

The worth of values - A literature review on the relation between corporate social and financial performance

Van Beurden P, Gössling T...(+2 more)

Journal of Business Ethics, vol. 82, issue 2 (2008) pp. 407-424

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Abstract

One of the older questions in the debate about Corporate Social Responsibility (CSR) is whether it is worthwhile for organizations to pay attention to societal demands. This debate was emotionally, norma- tively, and ideologically loaded. Up to the present, this question has been an important trigger for empirical research in CSR. However, the answer to the question has apparently not been found yet, at least that is what many researchers state. This apparent ambivalence in CSR consequences invites a literature study that can clarify the debate and allow for the drawing of conclu- sions. The results of the literature study performed here reveal that there is indeed clear empirical evidence for a positive correlation between corporate social and financial performance. Voices that state the opposite refer to out- dated material. Since the beginnings of the CSR debate, societies have changed. We can therefore clearly state that, for the present Western society, ‘‘Good Ethics is Good Business.’’ KEY

Author-supplied keywords

  • Corporate financial performance
  • Corporate social performance
  • Corporate social responsibility
  • Friedman
  • Literature review

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