- Implementing CSR programs may be a way to improve relationships with customers that appreciate sustainable practices (e.g., Baron 2008, McWilliams and Siegel 2001, Reinhardt 1998).
- It could be that CSR programs attract, motivate, and retain talented employees in the industry. Employee satisfaction may correlate with unobservable firm characteristics that investors have not fully incorporated into stock prices.
- CSR initiatives may encourage the use of more efficient technologies or production processes such as environment-friendly technologies. In particular, Porter (1991) argues that efforts to reduce pollution might not only reduce a company’s environmental footprint but also strengthen its competitiveness.
- Caroline Flammer (2015) Does Corporate Social Responsibility Lead to Superior Financial Performance? A Regression
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- Baron DP (2008) Managerial contracting and corporate social responsibility. J. Public Econom. 92(1–2):268–288.
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