CSR – more than corporate storytelling?

Abstract

Since the subject of corporate social responsibility (CSR) gained sufficient attention of the researchers over the last 25 years, numerous attempts were globally made to examine the nature of the relationship between the corporate social responsibility of company and its financial performance (FP). The literature in this area is scattered, the findings are heterogeneous and do not provide a clear answer if CSR goes beyond corporate storytelling. In our meta-analysis of more than 135 studies we try to bring a structure in this discussion. In analyzing the literature over the last decades we find a strong correlation between CSR and financial performance. Based on our findings we present implications in discussing how “good CSR” can be fostered. We focus on the financial sector.