Chapter 2 The Impact of Corporate Social Responsibility on Financial Performance and Firm Value
Luca Provaroni, Francesco Checcacci
Abstract: The relationship between sustainable practices and firm’s value and performance is an open debate among practitioners and scholars, but there is still a lack of unanimous consensus. Thus, we decided to analyze the impact of Corporate Social Responsibility (CSR) on financial performance and on market value of firms: to do that, we employed a multivariate regression analysis with fixed effects, on a sample of companies corresponding to the constituents of the S&P 500 index, across a 13-year period, from 2009 to 2021. As measure of CSR performance, we adopted the ESG (Environmental, Social, and Governance) ...
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