Study on Corporate Social Responsibility and Financial Performance: The Spanish Case

Abstract

This study is set against the backdrop of the immense interest that Corporate Social Responsibility has sparked in both the academic and business worlds. Its goal is to investigate the connection between corporate social responsibility and financial results, as there is some disagreement in the literature on the topic. The study focuses on a sample of Spanish companies taken from the IBEX 35 stock market index, using panel data methodology, which offers advantages by comparison to the methodologies used in other studies. The research was conducted between 2003 and 2010, so it is current. The results found suggest that there is no obvious relationship between Corporate Social Responsibility and corporate results, at least in the case of Spain.