Автори: А. Дорніан, ORCID ID 0000000280094961, доктор наук (фінанси), доцент, факультет економіки і бізнес-адміністрування, Ясський універси- тет імені О.І. Кузи, Ясси, Румунія
Д.-К. Оанія, ORCID ID 0000000200479758, доктор наук (фінанси), доцент, Бухарестський економічний університет, Бухарест, Румунія
Анотація: Аналізується зв’язок між корпоративною соціальною відповідальністю (КСВ) і корпоративними фінансовими показниками (КФП) на прикладі компаній, зареєстрованих на румунському ринку. Для цього спочатку р озглядається існуюча література, а далі використано дані за період із 2007 по 2015 рік (панельні дані), до яких застосовано просту модель регресії. Із загальної кількості компаній, що котиру- ються на Бухарестській фондовій біржі (БФБ), ми вибрали 59 компаній, які не виключали з торгів і за якими були доступні фінансові результати за весь досліджуваний період. Ці дані свідчать про зростання фінансових показників у компаній, що виконують КСВ (тільки 16 із 59 компаній здійснюють діяльність відповідно до КСВ), порівняно з компаніями, що не мають КСВ. Це дослідження має важливе практичне значення для політиків, менеджерів, інвесторів та інших зацікавлених сторін.
Ключові слова: корпоративна соціальна відповідальність, корпоративні фінансові показники, Бухарестська фондова біржа
Received: 13/07/2017
1st Revision: 27/08/2018
Accepted: 02/09/2018
DOI: https://doi.org/10.17721/1728-2667.2018/201-6/7
References
The present paper aims at analysing the link between Corporate Social Responsibility (CSR) and Corporate Financial Performance (CFP) in the case of Romanian listed companies. For accomplishing this, we will start from the existing literature and we will use data for period 2007–2015 (panel data) to which will apply a simple regression model. From the total number of companies listed on Bucharest Stock Exchange (BSE), we selected 59 companies without being excluding from trading and for which financial data were available for the entire period. The results indicated increased financial performance for CSR companies (only 16 of 59 companies have CSR activities) compared with NON-CSR companies. This study has important implications for policy makers, managers, investors, stakeholders, in generally.
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