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Measuring the economic performance of socially responsible companies

Josefina Fernández-Guadaño orcid id ; Finance Department, Faculty of Economics Sciences Complutense University Campus Somosaguas, Pabellón de Sexto, Despacho 46, E-28223 Pozuelo de Alarcón, Madrid, SPAIN

Puni tekst: engleski pdf 730 Kb

str. 207-233

preuzimanja: 624



The aim of this research is to use different economic variables to establish whether
there are differences in economic performance between companies as a result of
their inclusion in the sustainability index. This paper presents a one-dimensional
exploratory study which compares the socially responsible companies included in
the Spanish sustainability index, FTSE4Good Ibex, with the rest of the indices in
the IBEX family. Parametric testing was used to study whether there are differences
between the two types of companies. The results demonstrate that there are no
statistically significant differences in economic performance between the two
groups. Morover, it is confirmed that companies with good practices are as
profitable as the rest, but it also demonstrates that the economic-financial
behaviour is not better as a result of being in the sustainability index. The basic
conclusion is that adhering to social and environmental standards does not harm a
firm’s competitive position and, therefore, provide support for the development
policy of responsible practices so that they become a tool to help improve the
resilience of the economy and investor trust.

Ključne riječi

Corporate social responsibility (CRS); corporate financial performance (CFP); Spain; sustainability index; good practices

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