Revisão das ligações entre a responsabilidade social empresarial e o desempenho empresarial: provas de empresas marroquinas listadas
DOI:
https://doi.org/10.18046/j.estger.2021.161.4010Palavras-chave:
responsabilidade social empresarial, desempenho empresarial, Marrocos, mínimos quadrados ordináriosResumo
O objetivo do artigo é analisar a complexidade das ligações entre responsabilidade social empresarial (RSE) e desempenho empresarial no Marrocos e decompor esta complexidade através de um sentido bidirecional de causalidade. Através da recolha de dados de 74 empresas marroquinas listadas, realizamos uma modelagem econométrica para medir esta relação em um sentido bidirecional e pesquisar os fatores subjacentes a esta associação. O estudo empírico mostra a existência de uma associação positiva entre a RSE e o desempenho empresarial em ambas as direções no contexto marroquino e sugere que quanto mais sociais as empresas forem, melhores serão seus resultados financeiros. A ligação mútua entre os aspectos sociais e financeiros permite deduzir algumas implicações para a gestão e estabelecer algumas vias de pesquisa futuras.
Downloads
Referências
Abbott, W., & Monsen, J. (1979). On the measurement of corporate social responsibility: self-reported disclosures as a method of measuring corporate social involvement. Academy of Management Journal, 22(3), 501-515. https://doi.org/10.5465/255740
Al Baali, A. (2008). La supervision efficace de la Charia dans les institutions financières islamiques, dans les Actes de la troisième. Conférence mondiale sur l’économie islamique à l’université Umm Al Qora.
Al Haïti, A. (2009). L’impact de la supervision de la charia sur la conformité des banques islamiques aux règles de la charia, dans Actes de la Conférence des banques islamiques entre réalité et attentes.
Alsairfi, M. (2007). La responsabilidad Social de la administración (en árabe), Ed. Dar Al-Wafaa.
Al-Zahi, A. (1998). Les implications de la structure du marché bancaire islamique sur le potentiel de risque et la stabilité financière, structure de la banque islamique.
Anselmsson, J., & Johansson, U. (2007). Corporate social responsibility and the positioning of grocery brands: An exploratory study of retailer and manufacturer brands at point of purchase. International Journal of Retail & Distribution Management, 35(10), 835-856.
Asatryan, R., & Březinová, O. (2014). Corporate social responsibility and financial performance in the airline industry in central and eastern Europe. Acta Universitatis, Agriculturae et Silviculturae Mendelianae Brunensis, 62, 633-639. https://doi.org/10.11118/actaun201462040633
Ayyash, M. S. (2010). Nature et importance de la responsabilité sociale des banques islamiques.
Aguinis, H., & Glavas, A. (2012). What We Know and Don’t Know About Corporate Social Responsibility: A Review and Research Agenda. Journal of Management, 38(4), 932-968. https://doi.org/10.1177/0149206311436079
Barnett, M., & Salomon, R. M. (2006). Beyond dichotomy: The curvilinear relationship between responsibility and financial performance. Strategic Management Journal, 27(11), 1101-1122. https://doi.org/10.1002/smj.557
Bayoud, N.S., Kavanagh, M., & Slaughter, G. (2012). Factors influencing levels of corporate social responsibility disclosure by Libyan firms: A mixed study. International Journal of Economics and Finance, 4, 13–29. https://doi.org/10.5539/ijef.v4n4p13
Becchetti, L. (2007). Corporate social responsibility: not only economic and financial performance. Revue Finance & Bien Commun, 3, 152-158. https://doi.org/10.2139/ssrn.928557
Bennouna, A. (2016). Impact du management stratégique de la RSE sur la performance globale de l’entreprise : Cas des entreprises marocaines labellisées RSE « Label CGEM ». Thèse de doctorat en Sciences Economiques et de Gestion. Fès : Université Sidi Mohamed Ben Abdellah.
Bhattacharya, C.B., & Sankar, S. (2004). Doing better at doing good: when, why, and how consumers respond to corporate social initiatives. California Management Review, 47(1), 9-24. https://doi.org/10.2307/41166284
Bowen, H. R. (1953). Social responsibility of the businessman. New York: Harpers and Brothers.
Broadstock, D., Meyer, M.R., & Tzeremes, N.G. (2019). Does corporate social responsibility impact firms’ innovation capacity? The indirect link between environmental & social governance implementation and innovation performance. Journal of Business Research, 119, 99-110. https://doi.org/10.1016/j.jbusres.2019.07.014
Chatterjee, S., Hadi, S., & Price, B. (2000). Regression Analysis by Examples (3rd Ed.). New York: Wiley.
Carrigan, M., & Attala, A. (2001). The myth of the ethical consumer – do ethics matter in purchase behaviour? Journal of Consumer Marketing, 18, 560-577. https://doi.org/10.1108/07363760110410263
Chetty, S., Naidoo, R., & Seetharam, Y. (2015). The Impact of Corporate Social Responsibility on Firms’ Financial Performance in South Africa. Contemporary Economics, 9(2), 193-214. https://doi.org/10.5709/ce.1897-9254.167
Colombo, S., Guerci, M., & Miandar, T. (2017). What do unions and employers negotiate under the umbrella of corporate social responsibility: Comparative evidence from the Italian metal and chemical industries. Journal of Business Ethics, 155(4), 1–18. https://doi.org/10.1007/s10551-017-3503-9
Cornell, B., & Shapiro, A. C. (1987). Corporate stakeholders and corporate finance. Financial Management, 16(1), 2-18. https://doi.org/10.2307/3665543
Crifo, P., & Rebérioux. A. (2015). Gouvernance et responsabilité so-ciétale des entreprises: nouvelle frontière de la finance durable? Revue d'Economie Financière, 1(117), 205–223.
Croker, N., & Barnes, L. R. (2016). Epistemological development of corporate social responsibility: The evolution continues. Social Responsibility Journal, 13(2), 279–291. http://dx.doi.org/10.1108/SRJ-02-2016-0029
Dahlsrud, A. (2008). How corporate social responsibility is defined: an analysis of 37 definitions. Corporate Social Responsibility and Environmental Management, 15(1), 1–13.
https://doi.org/10.1002/csr.132
Dkhili, H., Ansi. H., & Noubbigh, H. (2014). Responsabilité sociétale et performance financière dans les entreprises tunisiennes. La Revue des Sciences de Gestion, 3, 267–268.
Dumitrescu, D., & Simionescu, L. N. (2015). Empirical research regarding the influence of corporate social responsibility (CSR) activities on companies, employees and financial performance. Economic cybernetics studies, 49(3), 52–66.
Elouidani, A., & Faiçal. Z. (2015). Corporate social responsibility and financial Performance. African Journal of Accounting, Auditing and Finance, 4(1), 74–85. https://doi.org/10.1504/AJAAF.2015.071749
El Yaagoubi, J. (2019). Impact de la responsabilité sociale des entreprises cotées en bourse de casablanca sur leur performance financière. Centre des Etudes Doctorales: Sciences Economiques et Gestion. Laboratoire de Recherche: Entrepreneuriat et Management des Organisations (LABEMO).
Famiyeh, S. (2017). Corporate social responsibility and firm's performance: Empirical evidence. Social Responsibility Journal, 13(2), 390–406. https://doi.org/10.1108/SRJ-04-2016-0049
Feng, Y., Chen, H., & Tang, J. (2018). The Impacts of Social Responsibility and Ownership Structure on Sustainable Financial Development of China’s Energy Industry. Sustainability, 10(2), 1–15. https://doi.org/10.3390/su10020301
Fombrun, C., & Shanley, M. (1990). What’s in a name? Reputation building and corporate strategy. Academy of Management Journal, 33(2), 233–258. https://doi.org/10.5465/256324
Fox, J. (1991). Regression Diagnostics. Newbury Park: SAGE Pu-blications. https://dx.doi.org/10.4135/9781412985604
Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Boston: Pitman.
Friedman, M. (1970). The social responsibility of business is to increase its profits. New York Times Magazine, 32(33), 122–124.
Frynas, J., & Yamahaki, G. (2016). Corporate social responsibility: Review and roadmap of theoretical perspectives. Business Ethics a European Review, 25(3), 258–285. https://doi.org/10.1111/beer.12115
Galant, A., & Cadez, S. (2017). Corporate social responsibility and financial performance relationship: A review of measurement approaches. Economic Research- Ekonomska Istraživanja, 30(1), 676–693. https://doi.org/10.1080/1331677X.2017.1313122
Gujarati, D. (2003). Basic Econmetrics (4e ed). New York: McGraw-Hill.
Han, J. (2015). Study on Correlation between CSR Performance and Financial Performance. Proceedings of the 2015 International Conference on Economy, Management and Education Technology, Advances in Social Science, Education and Humanities Research. Atlantis Press. https://doi.org/10.2991/icemet-15.2015.27
Jamali, D., & Charlotte, K. (2018). Corporate social responsibility in developing countries as an emerging field of study. International Journal of Management Reviews, 20(1), 32–61. https://doi.org/10.1111/ijmr.12112
Jiang, L., & Qishen, Y. (2015). The Relationship between Corporate Social and Financial Performance: Evidence from Chinese Heavy-polluting Industries. Department of Business Studies. Upssala University. Retrieved from: http://www.diva-portal.se/smash/get/diva2:823296/FULLTEXT01.pdf
Jitaree, W. (2015). Corporate social responsibility disclosure and financial performance: Evidence from Thailand. Thèse de doctorat. Université de Wollongong.
Hirigoyen, G., & Poulain-Rehm, T. (2015). Relationships between Corporate Social Responsibility and Financial Performance: What is the Causality? Journal of Business & Management, 4(1), 18-43. https://doi.org/10.12735/jbm.v4i1p18
Kablan, M. (2017). A Comparative Study on the Financial Performance before and After the Implementation of Corporate Social Responsibility at the Company "Al madar Telecommunication Company as a Case Study”. Journal of Accounting and Auditing: Research & Practice, 993686. https://doi.org/10.5171/2017.993686
Kammoun, S., Loukil, S., & Ben Romdhane, Y. (2020a). The impact of Firm Performance and Corporate Governance on Corporate Social Responsibility: Evidence from France. In I.S. Paiva & L.C. Carvalho (Ed.), Conceptual and Theoretical Approaches to Corporate Social Responsibility, Entrepreneurial Orientation, and Financial Performance (pp. 266-288). Pennsylvania: IGI GLOBAL. https://doi.org/10.4018/978-1-7998-2128-1.ch014
Kammoun, S., Loukil, S., Ben Romdhane, Y., & Ibenrissoul, A. (2020b). The relationship between CSR, Corporate Governance and Firm Performance: Evidence from Moroccan listed firms. In I.S. Paiva & L.C. Carvalho (Ed.), Conceptual and Theoretical Approaches to Corporate Social Responsibility, Entrepreneurial Orientation, and Financial Performance (pp. 289-304). Pennsylvania: IGI GLOBAL. https://doi.org/10.4018/978-1-7998-2128-1.ch015
Karyawati, G P., Sutrisno, B., & Saraswati. E. (2018). The Complexity of Relationship between Corporate Social Responsibility (CSR) and Financial Performance. Emerging Markets Journal, 8(2), 18-25. https://doi.org/10.5195/emaj.2018.155
Kennedy, P.E.P. (1985). A Guide to Econometrics (2nd ed.). Cambridge: The MIT Press.
Kooskora, M., Juottonen, M., & Cundiff, K. (2019). The Relationship Between Corporate Social Responsibility and Financial Performance (A Case Study from Finland): How Businesses and Organizations Can Operate in a Sustainable and Socially Responsible Way. Sustainability, 4(25), 471–49. https://doi.org/10.1007/978-3-030-03562-4_25
Laskar, N. (2018). Impact of corporate sustainability reporting on firm performance: an empirical examination in Asia. Journal of Asia Business Studies, 12(4), 571–593. https://doi.org/10.1108/JABS-11-2016-0157
Lin, C., Chang, R., & Dang, V. T. (2015). An Integrated Model to Explain How Corporate Social Responsibility Affects Corporate Financial Performance. Sustainability, 7, 8292-8311.
Lin, L, Pi-Hsia, H., De-Wai, C., & Lai, C.W. (2018). Financial performance and corporate social responsibility: Empirical evidence from Taiwan. Asia Pacific Management Review, 1(11), 892-913. https://doi.org/10.1016/j.apmrv.2018.07.001
McWilliams, A., & Siegel, D. (2001). Corporate Social Responsibility A Theory of the Firm Perspective. Academy of Management Review, 26, 117-127. https://doi.org/10.5465/AMR.2001.4011987
Maqbool, S., & Zameer, M. (2018). Corporate social responsibility and financial performance: An empirical analysis of Indian banks. Future Business Journal, 4, 84-93. https://doi.org/10.1016/j.fbj.2017.12.002
Margolis, J. D, Elfenbein., H., & Walsh, J P. (2009). Does it Pay to Be Good. And Does it Matter? A Meta-Analysis of the Relationship between Corporate Social and Financial Performance. http://dx.doi.org/10.2139/ssrn.1866371
Meseguer-Sánchez, A., Abad-Segura, E., Belmonte-Ureña, L.J., & Molina-Moreno, V. (2020). Examen de l'évolution de la recherche sur les dimensions socio-économiques et environnementales de la responsabilité sociale des universités. International Journal of Environnemental Research and Public Health, 17, 4729. https://doi.org/10.3390/ijerph17134729
Mikołajek-Gocejna, M. (2016). The Relationship between Corporate Social Responsibility and Corporate Financial Performance–Evidence from Empirical Studies. Comparative Economic Research, 19(4), 67-84. https://doi.org/10.1515/cer-2016-0030
Mouatassim-Lahmini, H. (2018). Les stratégies de responsabilité sociétale des entreprises marocaines côtées à la bourse de Casablanca Performance Sociale—Performance Financière. Thèse de Doctorat Es Sciences de Gestions. Centre des Etudes Doctorales-FDC. Faculté des Sciences Juridiques, Economiques et Sociales de Casablanca. Université Hassan II.
Mouatassim-Lahmini, H., & Ibenrissoul, A. (2016). Y a-t-il un impact de la RSE sur la performance financière de l'entreprise : Etude empirique sur les sociétés marocaines cotées à la bourse de Casablanca. hal-01351951.
Nelling, E., & Webb, E. (2009). Corporate Social Responsibility and Financial Performance: The Virtuous Circle. Review of Quantitative Finance and Accounting, 32(2), 197-209. https://doi.org/10.1007/s11156-008-0090-y
Nollet, J., Filis, G., & Mitrokostas, E. (2016). Corporate social responsibility and financial performance: a non-linear and disaggregated approach. Economic Modelling, 52, 400-407. https://doi.org/10.1016/j.econmod.2015.09.019
Oyewumi, O., Ogunmeru, A., & Oboh, S. C. (2018). Investment in corporate social responsibility, disclosure practices, and financial performance of banks in Nigeria. Future Business Journal, 4, 195-205. https://doi.org/10.1016/j.fbj.2018.06.004
Peng, C. W., & Yang, M. (2014). The effect of corporate social performance on financial performance: The moderating effect of ownership concentration. Journal of Business Ethics, 123(1), 171-182. https://doi.org/10.1007/s10551-013-1809-9
Platonova, E., Asutay, M., Dixon, R., & Mohammad, S. (2018). The impact of corporate social responsibility disclosure on financial performance: Evidence from the GCC Islamic banking sector. Journal of Business Ethics, 151, 451-471. https://doi.org/10.1007/s10551-016-3229-0
Rodriguez-Fernandez, M. (2016). Social responsibility and financial performance: The role of good corporate governance. Business Research Quarterly, 19, 137-151. https://doi.org/10.1016/j.brq.2015.08.001
Schönborn, G., Berlin, C., Pinzone, M., Hanisch, C., Georgoulias, K., & and Lanz, M. (2019). Why social sustainability counts: The impact of corporate social sustainability culture on financial success. Sustainable Production and Consumption, 17, 1-10. https://doi.org/10.1016/j.spc.2018.08.008
Simionescu, L.N., & Cristian, G.Ș. (2014). Corporate social responsibility and corporate performance: empirical evidence from a panel of the Bucharest Stock Exchange listed companies. Management & Marketing. Challenges for the Knowledge Society, 9(4), 439-458.
Siew, R., Balatbat, M., & Carmichael, D. (2013). The relationship between sustainability practices and financial performance of construction companies. Smart and Sustainable Built Environment, 2(1), 6-27. https://doi.org/10.1108/20466091311325827
Soloman, R., & Hansen, K. (1985). It’s good business. New York: Atheneum.
Spence, L. J., Frynas, J. G., Muthuri, J. N., & Navare, J. (2018). Introduction. In L. J. Spence, J. G. Frynas, J. N. Muthuri & J. Navare, Research Handbook on Small Business social responsibility: Global perspectives. Cheltenham: Edward Elgar Publishing.
Taoukif, F. (2014). Analyse perceptuelle des déterminants de l’engagement sociétal des entreprises marocaines labellisées RSE. Thèse de doctorat en Sciences de Gestion. Université Moulay Ismail-Meknès/Université du Sud Toulon Var. Retrieved from https://tel.archives-ouvertes.fr/tel-01198977/document
Taleb, B. (2013). Les motivations d’engagement des entreprises dans la responsabilité sociale : le cas du secteur industriel algérien. Thèse de doctorat en Sciences de Gestion. AixMarseille Université
Vitezić, N., Vuko, T., & Mörec, B. (2012). Does financial performance have an impact on corporate sustainability and CSR disclosure – A case of Croatian Companies. Journal of Business Management, 5, 40-47.
Wahba, H., & Elsayed, K. (2015). The mediating effect of financial performance on the relationship between social responsibility and ownership structure. Future Business Journal, 1(2), 1-12. https://doi.org/10.7819/rbgn.v20i1.3600
Waworuntu, S.R, Wantah, M., & Rusmanto, T. (2014). CSR and financial performance analysis: evidence from top ASEAN listed companies. Procedia - Social and Behavioral Sciences, 164, 493–500. https://doi.org/10.1016/j.sbspro.2014.11.107
Williamson, D, Lynch-Wood, G., & Ramsay, J. (2006). Drivers of Environmental Behaviour in Manufacturing SMEs and the Implications for CSR. Journal of Business Ethics, 67(3), 317-330. https://doi.org/10.1007/s10551-006-9187-1
Wright, P., & Ferris, S. (1997). Agency conflict and corporate strategy: The effect of divestment on corporate value. Strategic Management Journal, 18(1), 77-83. https://doi.org/10.1002/(SICI)1097-0266
Downloads
Publicado
Edição
Seção
Licença
Os autores dos artigos serão responsáveis dos mesmos e, assim, não comprometam os princípios ou políticas da Universidade Icesi nem do Conselho Editorial da revista Estudios Gerenciales. Os autores autorizam e aceitam a transferência de todos os direitos para a revista Estudios Gerenciales para a publicão impressa ou eletrônica. Após a publicação do artigo, pode ser reproduzido sem a permissão do autor ou da revista, se mencionar o(s) autor(es), o ano, o título, o volume e o número e o intervalo de páginas da publicação, e Estudios Gerenciales como fonte (se abster de utilizar Revista Estudios Gerenciales).