Positive, Negative, or Inconclusive Relationship Between Shareholder’s Wealth Creation and Corporate Social Responsibility: A Literature Review
摘要
Extant literature available shows the varied impact of corporate social responsibility (CSR) contribution on corporate financial performance (CFP) thereby its impact on shareholders’ wealth creation. This study aims to review past literature to identify the relationship between contribution toward corporate social responsibility and shareholders’ wealth creation. For this purpose, research articles which has analyzed the relationship between corporate social responsibility, corporate financial performance, and shareholder wealth creation under have been reviewed. Reasons behind varied results have been analyzed. The study concludes with how future research determining the relationship between CSR and CFP can be shaped to provide conclusive results.