International Journal of Productivity and Performance Management

The main part of this paper is based upon an exploration of the relationship between corporate social responsibility and financial performance in developing countries. The authors do this by investigating the Istanbul Stock Exchange (ISE) 100 index companies and their social responsibility policy and financia.
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International Journal of Productivity and Performance ManagementInternational Journal of Productivity and Performance ManagementEmerald Article: Managing corporate performance: Investigating therelationship between corporate social responsibility and financialperformance in emerging marketsGüler Aras, Asli Aybars, Ozlem KutluArticle information:To cite this document: Güler Aras, Asli Aybars, Ozlem Kutlu, (2010),Managing corporate performance: Investigating therelationship between corporate social responsibility and financial performance in emerging markets, International Journal ofProductivity and Performance Management, Vol. 59 Iss: 3 pp. 229 - 254Permanent link to this document:http://dx.doi.org/10.1108/17410401011023573Downloaded on: 17-10-2012References: This document contains references to 57 other documentsTo copy this document: permissions@emeraldinsight.comUsers who downloaded this Article also downloaded: *Honghui Chen, Xiayang Wang, (2011),Corporate social responsibility and corporate financial performance in China: an empiricalresearch from Chinese firms, Corporate Governance, Vol. 11 Iss: 4 pp. 361 - 370http://dx.doi.org/10.1108/14720701111159217Sebastian Arendt, Malte Brettel, (2010),Understanding the influence of corporate social responsibility on corporate identity,image, and firm performance, Management Decision, Vol. 48 Iss: 10 pp. 1469 - 1492http://dx.doi.org/10.1108/00251741011090289Hui Chen, Miguel Baptista Nunes, Lihong Zhou, Guo Chao Peng, (2011),Expanding the concept of requirements traceability: The roleof electronic records management in gathering evidence of crucial communications and negotiations, Aslib Proceedings, Vol. 63Iss: 2 pp. 168 - 187http://dx.doi.org/10.1108/00012531111135646Access to this document was granted through an Emerald subscription provided by UNIVERSITY OF ECONOMICS HO CHI MINHFor Authors:If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service.Information about how to choose which publication to write for and submission guidelines are available for all. Please visitwww.emeraldinsight.com/authors for more information.About Emerald www.emeraldinsight.comWith over forty years experience, Emerald Group Publishing is a leading independent publisher of global research with impact inbusiness, society, public policy and education. In total, Emerald publishes over 275 journals and more than 130 book series, aswell as an extensive range of online products and services. Emerald is both COUNTER 3 and TRANSFER compliant. The organization isa partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archivepreservation. *Related content and download information correct at time of download. The current issue and full text archive of this journal is available at www.emeraldinsight.com/1741-0401.htm ManagingManaging corporate performance corporate Investigating the relationship between performance corporate social responsibility and financial performance in emerging markets 229 ¨ Guler Aras Received October 2008 Yildiz Technical University, Istanbul, Turkey Revised April 2009 Accepted April 2009 Aslı Aybars Bahcesehir University, Istanbul, Turkey, and Ozlem Kutlu Yildiz Technical University, Istanbul, TurkeyAbstractPurpose – Corporate social responsibility is important and fundamental to the sustainableoperations of corporations. Similarly financial performance is undoubtedly fundamental to thecontinuing operating of any corporation. This paper aims to investigate the relationship betweencorporate social responsibility and firm financial performance.Design/methodology/approach – The main part of this paper is based upon an exploration of therelationship between corporate social responsibility and financial performance in developingcountries. The authors do this by investigating the Istanbul Stock Exchange (ISE) 100 indexcompanies and their social responsibility policy and financial indicators. The relationship betweenCSR and financial performance is empirically examined between 2005 and 2007 with differentapproaches and measurement methods. The authors show that some causality is related to laggingbetween periods for financial performance and CSR. Based upon previous empirical studies, this studyconducts the analysis based on the assumption that there may be a relationship between firm size,profitability, risk level and CSR.Findings – In doing this analysis the authors found a relationship between firm size and corporatesocial responsibility. However the authors were not able to find any significant relationship betweencorporate social responsibility and financial performance/profitability.Research limitations/implications – The paper has implications in enhancing the understandingof performance management through unders ...