Relationship between corporate social responsability and competitive performance in Spanish SMEsempirical evidence from a stakeholders perspective

  1. Jesús Herrera-Madueño 1
  2. Manuel Larrán Jorge 1
  3. Isabel Martínez Conesa 2
  4. Domingo Martínez-Martínez 1
  1. 1 Universidad de Cádiz
    info

    Universidad de Cádiz

    Cádiz, España

    ROR https://ror.org/04mxxkb11

  2. 2 Universidad de Murcia
    info

    Universidad de Murcia

    Murcia, España

    ROR https://ror.org/03p3aeb86

Revista:
Business Research Quarterly

ISSN: 2340-9444,  2340-9436

Año de publicación: 2016

Volumen: 19

Número: 1

Páginas: 55-72

Tipo: Artículo

DOI: 10.1016/J.BRQ.2015.06.002 DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: Business Research Quarterly

Resumen

En un escenario económico financiero en el que la supervivencia empresarial de las pequeñas y medianas empresas (PYMES) está más condicionada que nunca por el desempeño competitivo, este trabajo tiene como objetivo mostrar que la incorporación estratégica de acciones socialmente responsables, más preocupadas y comprometidas con los grupos de interés, contribuye a mejorar la competitividad de estas organizaciones. Así, se ha analizado la existencia de una relación directa o mediada entre el desarrollo de prácticas de Responsabilidad Social Empresarial (RSC) y el desempeño competitivo desde una perspectiva multiactor. Para realizar esta tarea se recogieron datos de una muestra de 481 pymes españolas y se utilizó la técnica de mínimos cuadrados parciales (PLS). Los resultados muestran que el desarrollo de prácticas de RSE contribuye a incrementar el desempeño competitivo tanto directa como indirectamente, a través de la capacidad de estas organizaciones para gestionar a sus grupos de interés. Este estudio, por tanto, apoya la hipótesis del impacto social y ofrece evidencia sobre algunos intangibles como la capacidad relacional de mediar el efecto causal entre RSE y desempeño competitivo.

€ Ver financiación

Información de financiación

This research has been developed as part of the project titled ‘‘Corporate Social Responsibility, SMEs, Region of Murcia’’ (ref.: 12003/PHCS/09) funded by the Seneca Foundation, the Regional Agency for Science and Technology, through the call for ‘‘Aid for the Completion of Research Projects in Humanities & Social Sciences’’ Seneca Program 2009.

Financiadores

Referencias bibliográficas

  • Aguinis H., Glavas A. What we know and don't know about corporate social responsibility: a review and research agenda. J. Manage. 2012, 38(4):932-968.
  • Aragón-Correa J.A., García-Morales V.J., Hurtado-Torres N.E. Un Modelo Explicativo de las Estrategias Medioambientales Avanzadas para Pequeñas y Medianas Empresas y su Influencia en los Resultados. Cuadernos Econ. Dirección Empresa 2005, 25:29-52.
  • Bansal P. Evolving sustainably: a longitudinal study of corporate sustainable development. Strategic Manage. J. 2005, 26(3):197-218.
  • Barclay D., Higgins C., Thompson R. The partial least squares (PLS) approach to causal modeling: personal computer adoption and use as an illustration. Technol. Stud. 1995, 2(2):285-309. (Special Issue on Research Methodology).
  • Barnett M.L., Salomon R.M. Beyond dichotomy: the curvilinear relationship between social responsibility and financial performance. Strateg. Manage. J. 2006, 27(11):1101.
  • Barnett M.L. Stakeholder influence capacity and the variability of financial returns to corporate social responsibility. Acad. Manage. Rev. 2007, 32(3):794-816.
  • Barney J. Organizational culture; can it be a source sustained competitive advantage?. Acad. Manage. Rev. 1986, 11(3):656-665.
  • Baron R.M., Kenny D.A. The moderator-mediator variable distinction in social psychological research: conceptual, strategic, and statistical considerations. J. Pers. Soc. Psychol. 1986, 51(6):1173-1182.
  • Battaglia M., Testa F., Bianchi L., Iraldo F., Frey M. Corporate social responsibility and competitiveness within SMEs of the fashion industry: evidence from Italy and France. Sustainability 2014, 6(2):872-893.
  • Bear S., Rahman N., Post C. The impact of board diversity and gender composition on corporate social responsibility and firm reputation. J. Bus. Ethics 2010, 97(2):207-221.
  • Berman S.L., Wicks S.C., Kotha S., Jones T.M. Does stakeholder orientation matter? The relationship between stakeholder management models and firm performance. Acad. Manage. J. 1999, 42(5):488-509.
  • Beurden P., Gössling T. The worth of values - a literature review on the relation between corporate social and financial performance. J. Bus. Ethics 2008, 82(2):407-424.
  • Bhattacharya B.B., Sen S., Korschun D. Strengthening stakeholder-company relationships through mutually beneficial corporate social responsibility initiatives. J. Bus. Ethics 2009, 85(2 Suppl.):257-272.
  • Blanco B., Guillamon-Saorin E., Guiral A. Do non socially responsible companies achieve legitimacy through socially responsible actions? The mediating effect of innovation. J. Bus. Ethics 2013, 117(1):67-83.
  • Bollen K.A. Structural Equations with Latent Variables 1989, Wiley, New York.
  • Boyle E.J., Higgins M.M., Rhee S.G. Stock market reaction to ethical initiatives of defense contractors: theory and evidence. Crit. Perspect. Account. 1997, 8:541-561.
  • Carmines E.G., Zeller R.H. Reliability and validity assessment. Basic Measurement 1994, 1-58. Sage Publication, London. M.S. Lewis-Beck (Ed.).
  • Cegarra-Leiva D., Sánchez-Vidal E., Cegarra-Navarro J.G. Understanding the link between work life balance practices and organisational outcomes in SMEs. The mediating effect of a supportive culture. Pers. Rev. 2012, 41(3):359-379.
  • Chavan M. An appraisal of environment management systems: a competitive advantage for small businesses. Manag. Environ. Qual. 2005, 16(5):444-463.
  • Chin W.W. The partial least squares approach to structural equation modeling. Modern Methods for Business Research 1998, 295-336. Lawrence Erlbaum Associates, Mahwah, New Jersey. G.A. Marcoulides (Ed.).
  • Diamantopoulos A., Siguaw J. Formative versus reflective indicators in organizational measure development: a comparison and empirical illustration. Br. J. Manage. 2006, 17(4):263-282.
  • Falk R.F., Miller N.B. A Primer for Soft Modelling 1992, The University of Akron, Akron, OH.
  • Fisher K., Geenen J., Jurcevic M., McClintock K., Davis G. Applying asset-based community development as a strategy for CSR: a Canadian perspective on a win-win for stakeholders and SMEs. Bus. Ethics: Eur. Rev. 2009, 18(1):66-82.
  • Fitjar R.D. Little big firms? Corporate social responsibility in small businesses that do not compete against big ones. Bus. Ethics: Eur. Rev. 2011, 20(1):30-44.
  • Freeman R.E. Strategic Management: a Stakeholder Approach 1984, Pitman, Boston.
  • Gallardo-Vázquez D., Sánchez-Hernández M.I. Análisis de la Incidencia de la Responsabilidad Social Empresarial en el Éxito Competitivo de las Microempresas y el Papel de la Innovación. Univ. Bus. Rev. 2013, 38(segundo trimestre):14-31.
  • Gallardo-Vázquez D., Sánchez-Hernández M.I., Corchuelo Martínez-Arzúa M.B. Validación de un Instrumento de Medida para la Relación entre la Orientación a la Responsabilidad Social Corporativa y otras Variables Estratégicas de la Empresa. Span. Account. Rev. 2013, 16(1):11-23.
  • Gallardo-Vázquez D., Sánchez-Hernández M.I. Measuring corporate social responsibility for competitive success at a regional level. J. Cleaner Prod. 2014, 72(1):14-22.
  • Gallardo-Vázquez D., Sánchez-Hernández M.I. Structural analysis of the strategic orientation to environmental protection in SMEs. Bus. Res. Q. 2014, 17(2):115-128.
  • García-Castro R., Ariño M., Canela M. Does social performance really lead to financial performance? Accounting for endogeneity. J. Bus. Ethics 2010, 92(1):107-126.
  • Godos-Díez J.L., Fernández-Gago R., Cabeza-García L., Martínez-Campillo A. Determinants of CSR practices: analysis of the influence of ownership and the management profile mediating effect. Span. J. Finance Account. 2014, 43(1):47-90.
  • Hammann E., Habisch A., Pechlaner H. Values that create value: socially responsible business practices in SMEs - empirical evidence from German companies. Bus. Ethics: Eur. Rev. 2009, 18(1):37-51.
  • Hull C.E., Rothenberg S. Firm performance: the interactions of corporate social performance with innovation and industry differentiation. Strateg. Manage. J. 2008, 29(7):781-789.
  • Hulland J., Ryan M.J., Rayner R.K. Modeling customer satisfaction: a comparative performance evaluation of covariance structure analysis versus partial least squares. Handbook of Partial Least Squares: Concepts, Methods and Applications 2010, 307-325. Springer Handbooks, Berlin. V. Esposito Vinzi, W.W. Chin, J. Henseler, H. Wang (Eds.).
  • Iturrioz C., Aragón C., Narbaiza L., Ibañez A. Social responsibility in SMEs: a source of business value. Soc. Responsibility J. 2009, 5(3):423-434.
  • Jamali D., Zanhour M., Keshishian T. Peculiar strengths and relational attributes of SMEs in the context of CSR. J. Bus. Ethics 2009, 87(3):355-377.
  • Jenkins H. A critique of conventional CSR theory: an SME perspective. J. Gen. Manage. 2004, 29(4):37-57.
  • Jenkins H. Small business champions for corporate social responsibility. J. Bus. Ethics 2006, 67(3):241-256.
  • Jensen M. Value maximization, stakeholder theory and the corporate objective function. J. Appl. Corp. Finance 2001, 14(3):8-21.
  • Jones T.M. Instrumental stakeholder theory: a synthesis of ethics and economics. Acad. Manage. Rev. 1995, 20(2):404-437.
  • Lechuga P. Design and Validation of an Instrument for Measuring the Social Responsibility Practices in Small and Medium Enterprises (written in Spanish) 2012, (PhD thesis), University of Cadiz.
  • Lepoutre J., Heene A. Investigating the impact of firm size on small business social responsibility: a critical review. J. Bus. Ethics 2006, 67(3):257-273.
  • López-Gamero M.D., Molina-Azorín J.F., Claver-Cortés E. Análisis de los factores que condicionan la percepción del directivo sobre el medio ambiente. Un estudio Qual/Quan. Cuadernos Econ. Dirección Empresa 2008, 37:123-172.
  • Luo X., Bhattacharya C.B. The debate over doing good: corporate social performance, strategic marketing levers, and firm-idiosyncratic risk. J. Mark. 2009, 73(6):198-213.
  • Margolis J.D., Walsh J.P. Misery loves companies: rethinking social initiatives by business. Adm. Sci. Q. 2003, 48(2):263-305.
  • Marín L., Rubio A. ¿Moda o Factor Competitivo? Un Estudio Empírico de Responsabilidad Social Corporativa en PYMEs. Inf. Comercial Española Rev. Economía 2008, 842:177-193.
  • Marín L., Rubio A., Ruiz de Maya S. Competitiveness as a strategic outcome of corporate social responsibility. Corp. Soc. Responsibility Environ. Manage. 2012, 19(6):364-376.
  • Mark-Herbert C., Von Schantz C. Communicating corporate social responsibility. Electron. J. Bus. Organ. 2007, 12(2):4-11.
  • Maron I.Y. Toward a unified theory of the CSP-CFP link. J. Bus. Ethics 2006, 67(2):191-200.
  • McWilliams A., Siegal D., Wright P. Guest Editors' Introduction: "corporate social responsibility: strategic implications. J. Manage. Stud. 2006, 43(1):1-18.
  • Miras M.M., Carrasco A., Escobar B. Corporate social responsibility and financial performance: a meta-analysis. Span. J. Finance Account. 2014, 43(2):193-215.
  • Mishra S., Suar D. Does corporate social responsibility influence firm performance of Indian companies?. J. Bus. Ethics 2010, 95(4):571-601.
  • Moneva J.M., Rivera J.M., Muñoz M.J. The corporate stakeholder commitment and social and financial performance. Ind. Manage. Data Syst. 2007, 107(1):84-102.
  • Moore S.B., Manring S.L. Strategy development in small and medium sized enterprises for sustainability and increased value creation. J. Cleaner Prod. 2009, 17(2):276-282.
  • Murillo D., Lozano J. SMEs and CSR: An approach to CSR in their own words. J. Bus. Ethics 2006, 67(3):227-240.
  • Niehm L.S., Swinney J., Miller N.J. Community social responsibility and its consequences for family business performance. J. Small Bus. Manage. 2008, 46(3):331-350.
  • Nielsen A.E., Thomsen C. Investigating CSR communication in SMEs: a case study among danish middle managers. Bus. Ethics: Eur. Rev. 2009, 18(1):83-93.
  • Orlitzky M., Schmidt F.L., Rynes S.L. Corporate social and financial performance: a meta-analysis. Organ. Stud. 2003, 24(3):403-441.
  • Orlitzky M. Corporate social performance and financial performance: a research synthesis. The Oxford Handbook of CSR 2008, 113-134. University Press, Oxford. A. Crane, A. McWilliams, D. Matten, J. Moon, D.S. Siegel (Eds.).
  • Orlitzky M., Siegel D.S., Waldman D.A. Strategic corporate social responsibility and environmental sustainability. Bus. Soc. 2011, 50(1):6-27.
  • Ortiz D., Kühne S. Implementing responsible business behavior from a strategic management perspective: developing a framework for Austrian SMEs. J. Bus. Ethics 2008, 82(2):463-475.
  • Parker L. Social and environmental accountability research: a view from the commentary box. Account. Auditing Account. J. 2005, 18(6):842-849.
  • Peloza J. The challenge of measuring financial impacts from investments in corporate social performance. J. Manage. 2009, 35(6):1518-1541.
  • Perrini F. SMEs and CSR theory: evidence and implications from an Italian perspective. J. Bus. Ethics 2006, 67(3):305-316.
  • Perrini F., Russo A., Tencati A., Vurro C. Deconstructing the relationship between corporate social and financial performance. J. Bus. Ethics 2011, 102(1 Supplement):59-76.
  • Polites G.L., Roberts N., Thatcher J. Conceptualizing models using multidimensional constructs: a review and guidelines for their use. Eur. J. Inf. Syst. 2012, 21:22-48.
  • Porter M., Kramer M. The competitive advantage of corporate philanthropy. Harv. Bus. Rev. 2002, 80(12):56-68.
  • Porter M.E., Kramer M.R. Strategy and society: the link between competitive advantage and corporate social responsibility. Harv. Bus. Rev. 2006, 84(12):78-92.
  • Porter M.E., Kramer M.R. Creating shared value. Harv. Bus. Rev. 2011, 89(1/2):62-77.
  • Preacher K.J., Hayes A.F. Asymptotic and resampling strategies for assessing and comparing indirect effects in multiple mediator models. Behav. Res. Methods 2008, 40(3):879-891.
  • Preston L.E., O'Bannon D.P. The corporate social-financial performance relationship. A typology and analysis. Bus. Soc. 1997, 36(4):419-429.
  • Revell A., Stokes D., Chen H. Small businesses and the environment: turning over a new leaf?. Bus. Strategy Environ. 2010, 19(5):273-288.
  • Rodgers W., Choy H.L., Guiral A. Do investors value a firm's commitment to social activities?. J. Bus. Ethics 2013, 114(4):607-623.
  • Russo A., Tencati A. Formal vs. informal CSR strategies: evidence from italian micro, small, medium-sized, and large firms. J. Bus. Ethics 2009, 85(2 Supplement):339-353.
  • Sarbutts N. Can SMEs 'do' CSR? A practitioner's view of the ways small-and medium-sized enterprises are able to manage reputation through corporate social responsibility. J. Commun. Manage. 2003, 7(4):340-347.
  • Sharma S., Vredenburg H. Proactive corporate environmental strategy and the development of competitively valuable organizational capabilities. Strateg. Manage. J. 1998, 19(8):729-753.
  • Sobel M.E. Asymptotic confidence intervals for indirect effects in structural equation models. Sociological Methodology 1982, 290-312. American Sociological Association, Washington DC. S. Leinhardt (Ed.).
  • Spence L.J. CSR and small business in a European policy context: The five 'C's of CSR and small business research agenda 2007. Bus. Soc. Rev. 2007, 112(4):533-552.
  • Stanaland A.J.S., Lwin M.O., Murphy P.E. Consumer perceptions of the antecedents and consequences of corporate social responsibility. J. Bus. Ethics 2011, 102(1):47-55.
  • Surroca J., Tribo J.A., Waddock S. Corporate responsibility and financial performance: the role of intangible resources. Strateg. Manage. J. 2010, 31(5):463-490.
  • Sweeney L. A Study of Current Practice of Corporate Social Responsibility (CSR) and an Examination of the Relationship between CSR and Financial Performance Using Structural Equation Modelling (SEM) 2009, (PhD thesis), Dublin Institute of Technology.
  • Tomomi T. Environmental management strategy for small and medium-sized enterprises: why do SMBs practice environmental management?. Asian Bus. Manage. 2010, 9(2):265-280.
  • Torugsa N.A., O'Donohue W., Hecker R. Capabilities, proactive CSR and financial performance in SMEs: empirical evidence from an Australian manufacturing industry sector. Jo. Bus. Ethics 2012, 109(4):483-500.
  • Turker D. Measuring corporate social responsibility: a scale development study. J. Bus. Ethics 2009, 85(4):411-427.
  • Turyakira P., Venter E., Smith E. The impact of corporate social responsibility factors on the competitiveness of small and medium-sized enterprises. S. Afr. J. Econ. Manage. Sci. 2014, 17(1):157-172.
  • Waddock S., Graves S.B. The corporate social performance-financial performance link. Strateg. Manage. J. 1997, 18(4):303-319.
  • Worthington I., Ram M., Jones T. 'Giving something back': a study of corporate social responsibility in UK South Asian small enterprises. Bus. Ethics 2006, 15(1):95-108.
  • Wright R.T., Campbell D.E., Thatcher J.B., Roberts N. Operationalizing multidimensional constructs in structural equation modeling: recommendations for IS research. Commun. Assoc. Inf. Syst. 2012, 30. article 23.
  • Wright P., Ferris S.P. Agency conflict and corporate strategy: the effect of divestment on corporate value. Strategy Manage. J. 1997, 18(1):77-83.
  • Wu M.L. Corporate social performance, corporate financial performance, and firm size: a meta-analysis. J. Am. Acad. Bus. 2006, 8(1):163-171.
  • Zhao X., Lynch J.G., Quimei C. Reconsidering Baron and Kenny: myths and truths about mediation analysis. J. Consum. Res. 2010, 37(2):197-206.
Fuente de los datos: Dialnet