Abstract
The relationship between corporate social performance (CSP) and financial performance (CFP) has been analyzed for decades. Despite these efforts, the results remain ambiguous. The omission of important variables in the econometrical estimation process is expected to be one reason for the mixed results. Accordingly, this study is focused on the role of R&D as pointed out by McWilliams and Siegel (Strateg Manag J 21(5):603–609, 2000). A quantitative literature and vote count review has been conducted in order to evaluate the acceptance, significance and influence of R&D as a control variable for analyzing the relationship between CSP and CFP. The results of this review are contrary to the initial assumptions stipulated by McWilliams and Siegel (Strateg Manag J 21(5):603–609, 2000). While a growing number of statistically significant R&D variables can be found in estimation models, the integration has rather led to an increase in findings with a positive CSP–CFP relation instead of findings with a neutral relation. These results have been used to derive implications for future research with regards to the materiality and operationalization of R&D.
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Notes
Here, CSP will be used as an umbrella term that incorporates social and environmental aspects.
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Schnippering, M. R&D: the missing link between corporate social performance and financial performance?. Manag Rev Q 70, 243–255 (2020). https://doi.org/10.1007/s11301-019-00166-5
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DOI: https://doi.org/10.1007/s11301-019-00166-5