This is a reply to the Research Note by Roman, Hayibor, and Agle in this issue. In this reply, the authors offer some constructive criticism of their analysis in an attempt to continue and further the debate on the relationship between corporate financial and social performance.
Get full access to this article
View all access options for this article.
References
1.
Alexander, G. J.
,& Buchholz, R. A. (1978). Corporate social responsibility and stock market performance. Academy of Management Journal, 21(3), 479-486.
2.
Anderson, J. C.
, & Frankle, A. W. (1980). Voluntary social reporting: An iso-beta portfolio analysis. The Accounting Review, 55, 467-479.
3.
Bowman, E. H.
,& Haire, M. (1975). Astrategic posture toward corporate social responsibility. California Management Review, 18(2), 49-58.
4.
Bragdon, J. H.
, & Marlin, J. T. (1972). Is pollution profitable?Risk Management, 19(2), 9-18.
5.
Cochran, P. L.
,& Wood, R. A. (1984). Corporate social responsibility and financial performance. Academy of Management Journal, 27(1), 42-56.
6.
Cowen, S. S.
, Ferreri, L. B., & Parker, D. B. (1987). The impact of corporate characteristics on social responsibility disclosure: A typology and frequency-based analysis. Accounting Organizations and Society, 12(2), 111-122.
7.
Freedman, M.
, & Jaggi, B. (1982). Pollution disclosures, pollution performance, and economic performance. Omega, 10(2), 167-176.
8.
Frooman, J.
(1997). Socially irresponsible and illegal behavior and shareholder wealth: A meta-analysis of event studies. Business & Society, 36(3), 221-249.
9.
Fry, E. L.
, & Hock, R. J. (1976). Who claims corporate responsibility? The biggest and the worst. Business and Society Review, 18, 62-65.
10.
Griffin, J. J.
, & Mahon, J. F. (1997). The corporate social performance and corporate financial performance debate: Twenty-five years of incomparable research. Business & Society, 36(1), 5-31.
11.
Hill, C. W.
, Kelley, P. C., & Agle, B. R. (1990). An empirical examination of the determinants of OSHA violations. In D. Wood & W. E. Martello (Eds.), Proceedings from the 1990 International Association for Business and Society, pp. 404-412.
12.
Holman, W. R.
, New, J. R., & Singer, D. (1990). The impact of corporate social responsiveness on shareholder wealth. In L. E. Preston (Ed.), Corporate and society research: Studies in theory and measurement(Vol. 12, pp. 265-279). Greenwich, CT: JAI.
13.
Lerner, L. D.
, & Fryxell, G. E. (1988). An empirical study of the predictors of corporate social performance: A multi-dimensional analysis. Journal of Business Ethics, 7, 951-959.
14.
Marcus, A. A.
, & Goodman, R. S. (1986). Compliance and performance: Toward a contingency theory. In L. E. Preston& J. E. Post (Eds.), Research in corporate social performance and policy(Vol. 8, 193-221). Greenwich, CT: JAI.
15.
McGuire, J. B.
, Sundgren, A., &Schneeweis, T. (1988). Corporate social responsibility and firm financial performance. Academy of Management Journal, 31(4), 854-872.
16.
Moskowitz, M.
(1975). Profiles in corporate responsibility: The ten worst and the ten best. Business and Society Review, 13, 28-42.
17.
Newgren, K. E.
, Rasher, A. A., LaRoe, M. E.,& Szabo, M. R. (1985). Environmental assessment and corporate performance: A longitudinal analysis using market-determined performance measures. In L. E. Preston (Ed.), Research in corporate social performance and policy(Vol. 7, pp. 153-164). Greenwich, CT: JAI.
18.
Rockness, J.
, Schlachter, P.,& Rockness, H. O. (1986). Hazardouswaste disposal, corporate disclosure, and financial performance in the chemical industry. Advances in Public Interest Accounting, 1, 167-191.
19.
Roman, R. M.
, Hayibor, S. G.,& Agle, B. R. (1999). The relationship between financial and social performance: Repainting a portrait. Business & Society, 38, 109-125.
20.
Shane, P. B.
, & Spicer, B. H. (1983). Market response to environmental information produced outside the firm. The Accounting Review, 58(3), 521-538.
21.
Vance, S. C.
(1975, August). Are socially responsible corporations good investment risks?Academy of Management Review, pp. 18-24.
22.
Waddock, S. A.
, & Graves, S. B. (1994, August). The corporate social performancefinancial performance link. Paper presented at the national meetings of the Academy of Management, Dallas, TX.
23.
Waddock, S. A.
, & Graves, S. B. (1997). The corporate social performance-financial performance link. Strategic Management Journal, 18(4), 303-319.
24.
Wood, D. J.
, & Jones, R. E. (1995). Stakeholder mismatching: A theoretical problem in empirical research on corporate social performance. International Journal of Organizational Analysis, 3, 229-267.
