A relação entre a «performance» social e a «performance» económico-financeira

Daniel Taborda ¹

 

RESUMO: O debate em torno da responsabilidade social centra-se actualmente a um nível da avaliação da «performance» social da organização e da captura das relações de causa-efeito com a «performance» económico-financeira. As dificuldades em estabelecer uma relação universal entre estas dimensões da «performance» sugerem que a abordagem empírica deste problema deve ser orientada para o caso concreto.

Palavras-chave: Dimensões da Performance Organizacional, Performance Social, Performance Financeira

 

TITLE: The relationship between social performance and financial performance

ABSTRACT: Corporate social performance measurement and its relation to financial performance have been an important issue in the corporate social responsibility debate. The literature results suggest that the link between these performance dimensions should be studied in a specific context.

Key words: Corporate Performance Dimensions, Social Performance, Financial performance

 

TÍTULO: La relación entre la «performance» social y la «performance» económico-financeira

RESUMEN: El debate alrededor de la responsabilidad social centrase en la actualidad al nivel de la evaluación de la performance social de la organización y la integración de las relaciones causa-efecto con la performance económico-financiera. Las dificultades en el establecimiento de una relación universal entre estas dos dimensiones del performance sugieren que el análisis de este problema debe ser orientado para el caso concreto.

Palabras clave: Dimensiones del Performance de la Organización, Performance Social, Performance Financeira

 

 

Texto completo disponível apenas em PDF.

Full text only available in PDF format.

 

 

Referências bibliográficas

 

ALEXANDER, G. J. e BUCHHOLZ, R. A. (1978), «Corporate social responsibility and stock market performance”. Academy of Management Journal, 21, pp. 479-486.

BARNETT, M. L. e SALOMON, R. M. (2006), «Beyond dichotomy: the curvilinear relationship between social responsibility and financial performance». Strategic Management Journal, 27, pp. 1101-1122.

BRAMMER, S. e PAVELIN, S. (2006), «Corporate reputation and social performance: the importance of fit». Journal of Management Studies, 43, pp. 435-455.

BRAMMER, S.; BROOKS, C. e PAVELIN, S. (2006), «Corporate social performance and stock returns: UK evidence from disaggregate measures». Financial Management, 35, pp. 97-116.

COFFEY, B. S. e FRYXELL, G. E. (1991), «Institutional ownership of stock and dimensions of corporate social performance: an empirical examination». Journal of Business Ethics, 10, pp. 437-444.

CORNELL, B. e SHAPIRO, A. C. (1987), «Corporate stakeholders and corporate finance». Financial Management, Spring, pp. 5-14.

COX, P.; BRAMMER, S. e MILLINGTON, A. (2004), «An empirical examination of institutional investor preferences for corporate social performance». Journal of Business Ethics, 52, pp. 27-43.

DILLENBURG, S.; GREENE, T. e EREKSON, O. H. (2003),«Approaching socially responsible investment with a comprehensive ratings scheme: total social impact». Journal of Business Ethics, 43,pp. 167-177.

DUNFEE, T. W. (1998), «The market place of morality: first steps toward a theory of moral choice». Business Ethics Quarterly, 8, pp.127-145.

FRIEDMAN, M. (1970), «The social responsibility of business is to increase profit». New York Times Magazine, September, pp. 13-33.

GRAVES, S. B. e WADDOCK, S. A. (1994), «Institutional owners and corporate social performance». Academy of Management Journal, 37, pp. 1034-1046.

GRIFFIN, J. J. e MAHON, J. F. (1997), «The corporate social performance and corporate financial performance debate: twenty-five years of incomparable research». Business and Society Review, 36,pp. 5-31.

HARRISON, J. S. e FREEMAN, R. E. (1999), «Stakeholders, social responsibility, and performance empirical evidence and theoretical perspectives». Academy of Management Journal, 42, pp. 479-485.

HILLMAN, A. J. e KEIM, G. D. (2001), «Shareholder value, stake-holder management, and social issues: what’s the bottom line?». Strategic Management Journal, 22, pp. 125-139.

JOHNSON, R. A. e GREENING, D. W. (1999), «The effects of corporate governance and institutional ownership types on corporate social performance». Academy of Management Journal, 42, pp.564-576.

JONES, T. M. (1995), «Instrumental stakeholder theory: a synthesis of ethics and economics». Academy of Management Review, 20,pp. 404-437.

KAPSTEIN, E. B. (2001), «The corporate ethics crusade». Foreign Affairs, 80, pp. 105-119.

KPMG International Survey of Corporate Responsibility Reporting 2005. Consultar na Web em HYPERLINK http://ec.europa.eu/employment_social/soc-dial/csr/060403/kpmgsurvey2005_en.pdf.

MAROM, I. Y. (2006), «Toward a unified theory of the CSP-CFP link». Journal of Business Ethics, 67, pp. 191-200.

McGUIRE, J. B.; SUNDGREN, A. e SCHNEEWEIS, T. (1988), «Corporate social responsibility and firm financial performance», Academy of Management Journal, 31, pp. 854-872.

McWILLIAMS, A. e SIEGEL, D. (2000), «Corporate social responsibility and financial performance: correlation or misspecification?». Strategic Management Journal, 21, pp. 603-609.

McWILLIAMS, A. e SIEGEL, D. (2001), «Corporate social responsibility: a theory of the firm perspective». Academy of Management Review, 26, pp. 117-127.

MILL, G. (2006), «The financial performance of a socially responsible investment over time and a possible link with corporate social responsibility». Journal of Business Ethics, 63, pp. 131-148.

MINTZBERG, H.; SIMONS, R. e BASU, K. (2002), «Beyond selfishness». MIT Sloan Management Review, 44, pp. 67-74.

MITCHELL, R. K.; AGLE, B. R. e WOOD, D. J. (1997), «Toward a theory of stakeholder identification and salience: defining the principle of whom and what really counts». Academy of Management Review, 22, pp. 853-886.

NELLING, E. e WEBB, E. (2006), «Corporate social responsibilityand financial performance: the ‘virtuous circle’ revisited». Working Paper. Na Web em http://www.fma.org/SLC/Papers/CSR_and_Financial_Performance_FMA.pdf.

OLIVER, C. (1991), «Strategic responses to institutional processes». Academy of Management Review, 16, pp. 145-179.

PEARSON, G. (2000), «Making profits and sweet music». Business Ethics: A European Review, 9, pp. 191-199.

PORTER, M. E. e KRAMER, M. R. (2002), «The competitive advantage of corporate philanthropy». Harvard Business Review, 80, pp.56-68.

PRESTON, L. E. e O’BANNON, D. P. (1997), «The corporate social-financial performance relationship: a typology and analysis».Business and Society Review, 36, pp. 419-429.

RUF, B. M.; MURALIDHAR, K.; BROWN, R. M.; JANNEY, J. J. e PAUL, K. (2001), «An empirical investigation of the relationship between change in corporate social performance and financial performance: a stakeholder theory perspective». Journal of Business Ethics, 32, pp. 143-156.

RUF, B. M.; MURALIDHAR, K. e PAUL, K. (1998), «The development of a systematic, aggregate measure of corporate social performance». Journal of Management, 24, pp. 119-133.

SCHULER, D. e CORDING, M. (2006), «A corporate social performance-corporate financial performance behavioural model for consumers». Academy of Management Review, 31, pp. 540-558.

SCHOLTENS, B. (2006), «Finance as a driver of corporate social responsibility». Journal of Business Ethics, 68, pp. 19-33.

ULLMANN, A. A. (1985), «Data in search of a theory: a critical examination of the relationships among social performance, social disclosure, and economic performance of U.S. firms». Academy of Management Review, 10, pp. 540-557.

WADDOCK, S. A. (2000), «The multiple bottom lines of corporate citizenship: social investing, reputation, and responsibility audits».Business and Society Review, 105, pp. 323-345.

WADDOCK, S. A. e GRAVES, S. B. (1997), «The corporate social-financial performance link». Strategic Management Journal, 18,pp. 303-319.

WADDOCK, S. A. e SMITH, N. (2000), «Corporate responsibility audits: doing well by doing good». Sloan Management Review, 41,pp. 75-83.

WICKS, A. C. e FREEMAN, R. E. (1998), «Organization studies and the new pragmatism: positivism, anti-positivism, and the search for ethics». Organization Science, 9, pp. 123-140.

WOOD, D. J. e JONES, E. J. (1995), «Stakeholder mismatching:a theoretical problem in empirical research on corporate social performance». The International Journal of Organizational Analysis, 3,pp. 229-267.

 

¹Daniel Taborda

daniel.taborda@crioestaminal.pt

Doutorando em Gestão de Empresas (Universidade de Coimbra). Administrador da Crioestaminal. Docente na Escola Superior de Tecnologia e Gestão de Oliveira do Hospital (ESTGOH) do Instituto Politécnico de Coimbra, Coimbra, Portugal.

PhD student in Management (Universidade de Coimbra). Director at Crioestaminal. Teacher at Escola Superior de Tecnologia e Gestão of Oliveira do Hospital (ESTGOH) of Instituto Politécnico de Coimbra, Coimbra, Portugal.

Estudiante de Doctorado en Gestión Empresarial (Universidade de Coimbra). Administrador de la Crioestaminal. Docente en la Escola Superior de Tecnologia e Gestão de Oliveira do Hospital (ESTGOH) del Instituto Politécnico de Coimbra, Coimbra, Portugal.

 

Recebido em Agosto de 2006 e aceite em Abril de 2007.

Received in August 2006 and accepted in April 2007.