- Copyright Page
- List of Figures
- List of Tables
- List of Contributors
- New Developments in the Study of Corporate Social Responsibility
- The Psychology of CSR
- Good Intentions are Not Enough: Applying Best Practices from Humanitarian Aid to Evaluate Corporate Social Responsibility
- Corporate Social Responsibility and Meaningful Work
- Diversity and Corporate Social Responsibility: Exploring the Potential Connections between Top Management Team/Board Diversity, CSR, and Workforce Diversity
- Responsible Business and Individual Differences: Employee Externally-Directed Citizenship and Green Behaviors
- Corporate Volunteering: Who Really Wins?
- Corporate Social Irresponsibility in Spite of Efforts to Act Responsibly: The Nature, Measurement, and Contextual Antecedents of CSR and CSiR by Organizations
- When CSR Backfires: Understanding Stakeholders’ Negative Responses to Corporate Social Responsibility
- Environmental Responsibility: Theoretical Perspective
- CSR and Environmental Law: Concepts, Intersections, and Limitations
- Environmental Management and Strategy
- On the Links between Corporate Environmental and Financial Performance: Camera or Mirror?
- New Roles for Business: Responsible Innovators for a Sustainable Future
- Social Entrepreneurship: Prospects for the Study of Market-Based Activity and Social Change
- Corporate Responsibility and the Base of the Pyramid Proposition
- Bringing Together the Big and the Small: Multinational Corporation Approaches to Corporate Social Responsibility and Entrepreneurship in Africa
- Entrepreneurship <i>by</i> and <i>for</i> Disadvantaged Populations: Global Evidence
- Stakeholder Management: A Managerial Perspective
- The Consequences of Mandatory Corporate Sustainability Reporting
- Profit-with-Purpose Corporations: An Innovation in Corporate Law to Meet Contemporary CSR Challenges
- Redefining the Strategy Field in the Age of Sustainability
- A Researcher’s Guide to Business and Society Archival Datasets
- Mightier than the Sword: How Activists Use Rhetoric to Facilitate Perception Change in Industries
- Institutions and Corporate Social Responsibility
- Social Movements and Corporate Social Responsibility: From Contention to Engagement
- Corporate Social Responsibility in Emerging Markets
Abstract and Keywords
Three main theoretical strands propose a mutually reinforcing relationship between corporate environmental performance (CEP) and financial performance (CFP): the natural resource-based view of the firm, Porter’s extensions of the industrial organization model, and instrumental stakeholder theory. In contrast, neoclassical economics is the major theory invoked by researchers that argue for an inverse relationship between CEP and CFP. Like other literature reviews, this chapter identifies a small positive relationship between the two constructs. At the same time, numerous contingency factors (e.g. measurement differences in CEP and CFP) hint at the project specificity of economic payoffs from environmental management. Finally, we also raise questions about the objectivity of this research stream because the research community’s institutional logics may significantly affect the conclusions. So, we are left to wonder whether the conclusions about CEP and CFP mirror researchers’ value commitments rather than capture, camera-like, objective reality.
Keywords: corporate environmental performance, corporate financial performance, environmental management, industrial organization theory, natural resource-based view of the firm, stakeholder theory, sustainability
Timo Busch, Chair of Management and Sustainability, University of Hamburg
Marc Orlitzky, Chair in Management, UniSA Business School, University of South Australia
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