Corporate Social Responsibility Behavior: Impact on Firm’s Financial Performance in an Information Technology Driven Society

Abstract:

Corporate social responsibility (CSR) and its impacts on financial performance has been studied exhaustively, however proponents reports differing findings. A number of studies have shown that there exist a significantly positive correlation between research and development (R&D) and profitability. Between the period 2009 and 2013, we analyzed 500 Ghanaian cases in which companies’ integrate R&D investments as one of their business sustainable development strategies for feasible advancement; they additionally recognize their altruistic “give-away” as commitments to CSR. In view of hypothetical affirmations and observational confirmation in this study, we recognized a positive relationship between CSR and financial performance.

• Periodical: International Journal of Engineering Research in Africa (Volume 23)
• Pages: 162-173
• DOI: https://doi.org/10.4028/www.scientific.net/JERA.23.162
• Online since: April 2016
• Authors: Li Zhen Chen, Emmanuel Opoku Marfo, Xu Hua Hu
• Keywords: Corporate Social Responsibility (CSR), Firm’s Financial Performance, Information Technology, R&D

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