Title: Relationship between CSR and financial performance: the first comparative study on listed companies in Thailand and the USA

Authors: Pradit Withisuphakorn

Addresses: NIDA Business School, National Institute of Development Administration (NIDA), 118 Serithai Rd, Bangkapi, Bangkok, 10240 Thailand

Abstract: Corporate social responsibility (CSR) is gaining more popularity and becoming realistic strategies for corporate value creation and play increasing roles for sustainable socio-economic development. If the rule is right, we can painlessly create the condition for win-win social lead business model globally. There are two key areas in this study: first, the relationship between internal factors and CSR implementation and second, the relationship between CSR and potential revenue in the future. Result from the first area of study indicates that the bigger firm size and higher capital investment per total asset have a positive impact leading to increases in the CSR rating. On second area of study, I have found that higher CSR ratings or CSR implementation associate with higher revenues in the future. Thus, CSR is proved to be a valuable investment option (not perishable expenses) for smart and sustainable firms.

Keywords: corporate social responsibility; CSR; social enterprises; financial performance; Thai and US listed companies; sustainable development.

DOI: 10.1504/IJEPEE.2018.094524

International Journal of Economic Policy in Emerging Economies, 2018 Vol.11 No.4, pp.367 - 377

Received: 06 Nov 2015
Accepted: 20 Nov 2015
Published online: 05 Sep 2018 *

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