Current Search: Corporate Social Responsibility (x)
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(1 - 9 of 9)
- Title
- THE EFFECT OF CORPORATE SOCIAL RESPONSIBILITY ON FIRM VALUE AND PERFORMANCE.
- Creator
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Maxey, Jennifer E, Frye, Melissa, University of Central Florida
- Abstract / Description
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In this thesis, I test the effects of corporate social responsibility (CSR) on firm valuation and performance from the financial crisis of 2007 to year 2013. Prior research on CSR suggests that CSR is related to firm performance, but the results have not been consistent. My study focuses on the time period following the crisis since trust between firms and stakeholders may be more important following a negative shock. The components of CSR are broken out into environmental, human rights,...
Show moreIn this thesis, I test the effects of corporate social responsibility (CSR) on firm valuation and performance from the financial crisis of 2007 to year 2013. Prior research on CSR suggests that CSR is related to firm performance, but the results have not been consistent. My study focuses on the time period following the crisis since trust between firms and stakeholders may be more important following a negative shock. The components of CSR are broken out into environmental, human rights, diversity, community impact, employee relations, product, and corporate governance. I find evidence that at least some measures of firm performance are positively related to CSR. Specifically, I find that a high CSR score is associated with a high return on assets. I also find a positive relation with Tobin's Q in certain model specifications. The components of CSR that hold the greatest weight in terms of ROA are environmental, employee relations, diversity, and product strengths. Given the importance of these financial performance measures, my results provide support for corporate spending on social capital.
Show less - Date Issued
- 2019
- Identifier
- CFH2000570, ucf:45638
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH2000570
- Title
- GOOD GUYS DON'T ALWAYS FINISH LAST: THE MODERATING ROLE OF BRAND EXTENSION FIT ON PRODUCT EVALUATIONS BASED ON CORPORATE ABILITY (CA) AND CORPORATE SOCIAL RESPONSIBILITY (CSR) ASSOCIATIONS.
- Creator
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Johnson, Zachary, Mao, Huifang, University of Central Florida
- Abstract / Description
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Termed corporate associations, consumer corporate brand perceptions influence evaluations of new products made by consumers. Corporate associations are conceptualized as falling within two categories (Brown and Dacin 1997): a corporation may develop a reputation for Corporate Ability (CA) by developing quality products or for Corporate Social Responsibility (CSR) through its corporate commitment to societal obligations. Past research suggests that product-related CA associations lead to more...
Show moreTermed corporate associations, consumer corporate brand perceptions influence evaluations of new products made by consumers. Corporate associations are conceptualized as falling within two categories (Brown and Dacin 1997): a corporation may develop a reputation for Corporate Ability (CA) by developing quality products or for Corporate Social Responsibility (CSR) through its corporate commitment to societal obligations. Past research suggests that product-related CA associations lead to more favorable product evaluations than CSR, which is a contextual association that is less product-related. However, past research has been limited to line extensions, which are evaluated in a piecemeal cognitive process. Unlike line extensions, evaluations of brand extensions include an intervening categorization process that determines consumers' evaluative strategies. This research merges the corporate association and brand extension literature streams and, in four studies, contributes to the literature by establishing that brand extension fit moderates the influence of corporate associations on product evaluations. This finding is developed further by demonstrating that both individual differences (self-construal) and brand-related attributes moderate this interaction.
Show less - Date Issued
- 2011
- Identifier
- CFE0004015, ucf:49164
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0004015
- Title
- THE COST OF FEELING GOOD.
- Creator
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Field, Casey M, Sturm, Ray, University of Central Florida
- Abstract / Description
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The Cost of Feeling Good attempts to quantify the optimum portfolio returns of Socially Responsible Investment Funds and Dual-Purpose Portfolios. In order to meet the demands of investors who want to create a social impact and generate financial returns, investors can choose two methods. For the purpose of this study, the social returns were quantified and the financial returns were quantified using net present value. In every scenario, the socially responsible investment decision generated...
Show moreThe Cost of Feeling Good attempts to quantify the optimum portfolio returns of Socially Responsible Investment Funds and Dual-Purpose Portfolios. In order to meet the demands of investors who want to create a social impact and generate financial returns, investors can choose two methods. For the purpose of this study, the social returns were quantified and the financial returns were quantified using net present value. In every scenario, the socially responsible investment decision generated higher financial returns. Because of the immediate loss to an investor after choosing the DPP strategy, financially, the SRI fund appears to be the better approach for a financially driver investor. In terms of social returns, the DPP has a more clear impact on society. Measured as the charitable contribution given on an $1,000 investment, the socially responsible fund contributes far less to society on a per investor basis. Therefore, if an investor is interested in generating higher social returns and wants to be selective in terms of their charitable donation, they should choose the DPP model. In terms of tax brackets, investors in higher tax brackets have to generate higher financial returns on socially responsible investments in order to match the returns of a DPP. This is also true with investors who invest less in charity. Therefore, the investors that are in the highest tax bracket and contribute little to charity will need to generate far higher SRI returns according to the constructed theory. This finding is important to the growing millennial trend in sustainable investing.
Show less - Date Issued
- 2016
- Identifier
- CFH2000141, ucf:45940
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH2000141
- Title
- THE EFFECTS OF CORPORATE SOCIAL RESPONSIBILITY ON FINANCIAL PERFORMANCE.
- Creator
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Mentor, Marly, Roberts, Robin, Gatchev, Vladimir, University of Central Florida
- Abstract / Description
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Companies have taken the initiative to be socially responsible over the years. In the past, the focus for companies has been on maximizing wealth. With the growth of corporate social responsibility (CSR), there has been many debates regarding its benefits. More companies are beginning to realize the value of being socially responsible and how critical it is to business function. This paper researches past studies on the relationship between corporate social responsibility and financial...
Show moreCompanies have taken the initiative to be socially responsible over the years. In the past, the focus for companies has been on maximizing wealth. With the growth of corporate social responsibility (CSR), there has been many debates regarding its benefits. More companies are beginning to realize the value of being socially responsible and how critical it is to business function. This paper researches past studies on the relationship between corporate social responsibility and financial performance. This relationship is then tested using a reliable source of data on corporate social responsibility performance. This study uniquely looks at the accounting and market-based measurements of financial performance. The dataset includes most of the S&P 500 firms and covers years 2005-2014. An empirical model is constructed which includes factors that were found significant in the works of Capon, Farley, and Hoenig (1990). The relationships are tested using cross-sector/panel data time-series regressions. Results indicate that CSR and the accounting measurements of financial performance are positively related. CSR and the market-based measurements of financial performance are negatively related. This suggests that CSR positively affects a company�s profits and negatively affects future stock returns. One interpretation of this result is that socially responsible stocks have a lower required rates of return. The results indicate that since investors are more willing to invest in CSR stocks, these firms end up experiencing lower future stock returns. The results are consistent with past studies and support the hypotheses.
Show less - Date Issued
- 2016
- Identifier
- CFH2000047, ucf:45506
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFH2000047
- Title
- GENERAL MANAGERS‟ PERCEPTIONS OF CORPORATE SOCIAL RESPONSIBILITY IN FLORIDA HOTELS.
- Creator
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Holcomb, Judith, Pizam, Abraham, University of Central Florida
- Abstract / Description
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The objective of the study was to identify and measure the magnitude of the gap that may exist between the corporate level Corporate Social Responsibility (CSR) culture and its ensuing policies and their equivalent at the property level. This gap was hypothesized to be a function of a number of personal characteristics of the General Managers (GMs) coupled with the organizational profile of the hotel. The data were collected via an online survey based on a CSR scale developed by Turker (2009)...
Show moreThe objective of the study was to identify and measure the magnitude of the gap that may exist between the corporate level Corporate Social Responsibility (CSR) culture and its ensuing policies and their equivalent at the property level. This gap was hypothesized to be a function of a number of personal characteristics of the General Managers (GMs) coupled with the organizational profile of the hotel. The data were collected via an online survey based on a CSR scale developed by Turker (2009) in combination with other original and previously used smaller scales. The study‟s population consisted of general managers of hotels that were managed by a corporate office and were members of the Central Florida Hotel and Lodging Association and the Florida Restaurant and Lodging Association. In total, 564 hotel GMs were contacted by email by their perspective associations and invited to participate in the study. A total of 123 surveys were returned which equated to a 22% response rate. The results indicated that the gaps for all factors were very small. This suggested that based on the GMs‟ perceptions, there was not much variation between their corporations‟ CSR policies and their properties‟ CSR policies. Hence, because of this small variation, it can be speculated that, in this study, hotel GMs were committed to follow precisely the corporate CSR policies and initiatives at their property levels. Notwithstanding the above, the results supported three hypotheses as follows: (a) the more GMs were involved in the community, the less they were committed to CSR policies relating to the government; (b) the more hours per week GMs spent in community volunteerism, the higher was their commitment to overall CSR policies; and c) the higher was the demonstrated commitment of GMs to their corporation‟s CSR policy regarding responsibility to employees, the more they were rewarded through non-monetary perceived personal success. This study and its ensuing results were of significant importance to the general CSR body of knowledge and unique in terms of their contribution to CSR in the hotel industry. The practical implication from this study was that it sets a number of benchmarks relating to CSR corporate and property level policies and initiatives in a given sector of the hotel industry. In addition, due to the fact that few, if any, gaps were found between the corporate and property level cultures, corporate officers can at least feel fairly comfortable that from the GMs‟ perspectives, CSR initiatives are being implemented at the property level in accordance with corporate policy.
Show less - Date Issued
- 2010
- Identifier
- CFE0003466, ucf:48960
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0003466
- Title
- More Than Money: Corporate Social Performance and Reporting and the Effect on Economic Performance.
- Creator
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Zahller, Kimberly, Roberts, Robin, Arnold, Vicky, Trompeter, Gregory, Folger, Robert, University of Central Florida
- Abstract / Description
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The three studies in this dissertation explore the relationship between Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP). CSR consists of social, ethical, and environmental performance dimensions that have not traditionally appeared in mandated financial reports and largely reflect societal expectations for corporate behavior beyond legal and regulatory constraints. CSR is reflected in both corporate actions (performance outcomes) and voluntary reporting ...
Show moreThe three studies in this dissertation explore the relationship between Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP). CSR consists of social, ethical, and environmental performance dimensions that have not traditionally appeared in mandated financial reports and largely reflect societal expectations for corporate behavior beyond legal and regulatory constraints. CSR is reflected in both corporate actions (performance outcomes) and voluntary reporting (disclosure), and the two are not necessarily equivalent due to managerial discretion in disclosure. Although the mechanisms remain unclear, the general consensus is that there is a positive relationship between CSR and CFP. In considering the drivers and goals of CSR, two themes emerge and are used to inform these papers: a stakeholder view of organizational relationships and the need to signal legitimacy in the face of changing social norms. A stakeholder view asserts that a wide range of groups across society are important to the long-term success and health of the organization. Legitimacy theory provides the explanation of why the stakeholder view is important to organizational success and can produce significant strategic advantages. The first study utilizes archival data in an exploration of how to model the relationship between Corporate Social Performance (CSP) and CFP. Using independent evaluations of organizational CSP from KLD STATS, I explore the CSP-CFP relationship at four different levels (overall CSP, component CSP, directional component CSP, and issue-based component CSP). I consider the effect of CSP on a range of outcome measures of CFP performance, at different levels of aggregated performance measures and linkage to stakeholder groups. Finally, I explore the pattern of significant CSP components on individual CFP outcome measures to determine if there is evidence for changing associations based on relevant stakeholder groups, in answer to concerns raised by prior research (Wood and Jones 1995; Orlitzky, Schmidt, and Rynes 2003). I find that (a) stock market measures are extremely insensitive to CSP; (b) the appropriate measurement level of CSP varies with the degree to which the CFP measure is aggregated and attributable to a more focused group of stakeholders; and (c) significant CSP aspects and associated CFP outcomes do vary in patterns and sensitivity. The second study examines the role voluntary social disclosure plays in economic performance through an attribute I term resilience. Resilience influences stakeholder resource allocation decisions in the face of unexpected poor performance attributable to an exogenous shock and is associated with perceived organizational legitimacy. To test this model, an experiment is conducted in which participants are asked to assess the perceived legitimacy of an organization based on information characteristics of voluntary CSR disclosure and then to make reallocation decisions in the face of poor performance caused by an industry crisis not involving the underlying organization. I find that high quality disclosure (driven by reporting accuracy) is significantly associated with greater perceived legitimacy. In turn, the legitimacy construct is significantly associated with resilience following an exogenous shock. The final study considers organizational choices in CSR disclosure to preserve credibility in the face of a crisis threatening the legitimacy of the institutional framework. Using qualitative data surrounding the turbulent 2001 (-) 2002 period encompassing the Enron and WorldCom scandals and the fall of Andersen, I examine organizational voluntary disclosure decisions to ascertain how they sought to preserve their own informational credibility and legitimacy in the face of a threat that did not directly involve their actions. I find that organizations responded throughout this period by increasing signals of both transparency (greater CSR disclosure) and credibility (greater use of external sources of assurance of that disclosure). I also find that third-party assurance was not widely used, and remained at a steady, minimal percentage over time. Overwhelmingly, organizations turned to the implementation of an independent, external reporting framework (e.g., the Global Reporting Initiative's widespread guidelines) that provided consistency and comparability in their reporting, made use of standardized measurements and definitions, and required specific items and measures.
Show less - Date Issued
- 2012
- Identifier
- CFE0004465, ucf:49328
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0004465
- Title
- Nike(&)#191;s Corporate Social Advocacy (CSA) Practices as Related to Strategic Issues Management (SIM) and Threats to Organizational Legitimacy.
- Creator
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Heffron, Eve, Dodd, Melissa, Spence, Patric, Yu, Nan, University of Central Florida
- Abstract / Description
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This research examined how corporate social advocacy (CSA) and corporate social responsibility (CSR) efforts impacted perceptions of authenticity. Using an experimental survey, participants were randomly exposed to Nike's actions related to the Black Lives Matter (BLM) movement via mock-online news articles. Participants completed a survey that contained Likert-type scale items regarding attitudes (perceived corporate intent, perceived authenticity, brand trust, and brand credibility) and...
Show moreThis research examined how corporate social advocacy (CSA) and corporate social responsibility (CSR) efforts impacted perceptions of authenticity. Using an experimental survey, participants were randomly exposed to Nike's actions related to the Black Lives Matter (BLM) movement via mock-online news articles. Participants completed a survey that contained Likert-type scale items regarding attitudes (perceived corporate intent, perceived authenticity, brand trust, and brand credibility) and behavioral intentions (word of mouth intentions (WOM), and purchase intention (PI)). Results indicated that positive attitudes significantly increased when Nike implemented an action step after taking a public stance on a controversial social-political issue. Further, results revealed significant differences for positive WOM intentions and PI, given the experimental prompt. This study extends public relations scholarship through expanding our understanding of stakeholder perceptions of authenticity when companies engage in CSA and CSR practices. To earn legitimacy, companies must meet stakeholder expectations through successfully executing socially responsible actions. This study illustrates a need for future research on stakeholder perceptions of authenticity when various action steps are added to a company stance on divisive social-political issues.
Show less - Date Issued
- 2019
- Identifier
- CFE0007650, ucf:52461
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0007650
- Title
- The Effects of Corporate Social Responsibility on Service Recovery Evaluations in Casual Dining Restaurants.
- Creator
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Albus, Heidi, Ro, Hee Jung, Parsa, Haragopal, Kwun, David, University of Central Florida
- Abstract / Description
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This study examined the effects of Corporate Social Responsibility (CSR) on service recovery in terms of customer satisfaction, repeat patronage, word of mouth, and consumer trust in casual dining restaurants. More specifically, this study proposed that CSR will have a halo effect on negative service recovery incidents and mitigate the adverse effects of the poor recovery. An experimental study consisting of a 3x2 between subjects factorial design was used. Three CSR conditions (positive,...
Show moreThis study examined the effects of Corporate Social Responsibility (CSR) on service recovery in terms of customer satisfaction, repeat patronage, word of mouth, and consumer trust in casual dining restaurants. More specifically, this study proposed that CSR will have a halo effect on negative service recovery incidents and mitigate the adverse effects of the poor recovery. An experimental study consisting of a 3x2 between subjects factorial design was used. Three CSR conditions (positive, negative, and no CSR) were matched with two service recovery conditions (positive or negative). Four hundred and eighteen subjects were recruited by a reputed marketing research firm. Results of this study showed that CSR and service recovery have a significant effect on customer satisfaction, repeat patronage, word of mouth, and consumer trust in casual dining restaurants. Furthermore, the results showed that CSR enhances the positive effects of good service recovery.
Show less - Date Issued
- 2012
- Identifier
- CFE0004348, ucf:49418
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0004348
- Title
- Good Works: The Topoi of Corporate Social Responsibility in the Travel and Tourism Industry.
- Creator
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Culler, Connie, Scott, Blake, Jones, Dan, Rounsaville, Angela, Dingo, Rebecca, University of Central Florida
- Abstract / Description
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This dissertation focuses on the identification and analysis of Corporate Social Responsibility (CSR) topoi in the travel and tourism industry. A sample set of six companies was selected for the study due to their size and prominence in the industry -- namely Disney, Hilton, Intercontinental, Marriott, Starwood, and Wyndham. Topoi were identified through a blended method of research that employed rhetorical analysis, modified grounded theory, and NVIVO content analysis software. The research...
Show moreThis dissertation focuses on the identification and analysis of Corporate Social Responsibility (CSR) topoi in the travel and tourism industry. A sample set of six companies was selected for the study due to their size and prominence in the industry -- namely Disney, Hilton, Intercontinental, Marriott, Starwood, and Wyndham. Topoi were identified through a blended method of research that employed rhetorical analysis, modified grounded theory, and NVIVO content analysis software. The research followed three guiding principles to recognize textual cues and drive analysis: common and special topoi; topoi as heuristic; topoi for association and amplification; and topoi as fluid and movable. The common CSR topoi, triple bottom line and shared value, were also used as overarching categories for coding the texts. The results of the method yielded six unique topoi that were specific to each company; these included Inspiration, Higher Purpose, Collaborative Innovation, Leadership, The Age of Great Change, and Green. Results also included a set of seven special industry topoi that were common across all of the sample companies; these included Commitment, Management, Alignment, Environment, Engagement, Achievement, and Sustainability. The rhetorical synergy and topological levels identified through this research can inform other studies of CSR about the generative potential of topoi and its fluidity when viewed from different conceptual vantage points.
Show less - Date Issued
- 2015
- Identifier
- CFE0005936, ucf:50851
- Format
- Document (PDF)
- PURL
- http://purl.flvc.org/ucf/fd/CFE0005936
