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The mediating role of natural and social resources in the corporate social responsibility—corporate financial performance relationship
Author(s) -
Ratajczak Piotr
Publication year - 2021
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.3216
Subject(s) - corporate social responsibility , mediation , business , reputation , natural resource , accounting , social responsibility , resource (disambiguation) , natural (archaeology) , path analysis (statistics) , positive relationship , public relations , political science , psychology , social psychology , biology , paleontology , statistics , mathematics , computer network , computer science , law
Failure to obtain definitive results regarding the influence of corporate social responsibility (CSR) on corporate financial performance (CFP) has prompted scholars to investigate mechanisms behind this relationship. This paper follows the same path and distinguishes two dimensions of CSR (social and environmental) to expand the pool of potential mediators on the basis of natural‐ and social resource‐based view (RBV) of the firm. In a unique dataset comprising seven potential mediators for 300 companies, a direct relationship only existed between environmental CSR and CFP, in contrast to the “new road” from social CSR to CFP that goes through external reputation and innovativeness—variables that form an opposing mediation.