This dissertation investigates the role of corporate social responsibility in various theoretical perspectives through three essays. The first essay will study the cultural perspective of CSR by introducing the concept of market facing CSR (MFCSR) and its role in alliance partnerships. I use response surface analysis to test the effects of compatible (similar level of) MFCSRs, combining three different data sources – ASSET4, SDC, and Compustat. The results indicate that the compatibility of two firms’ MFCSRs is a necessary condition for the post-alliance learning and market response. High proximity between the two firms allows the firms’ learning under the condition of incompatible MFCSRs, and the brand assets further enhance the reputation effect of MFCSR on the market response.
The second essay will address the insufficient attention in the literature so far on the resource perspective of CSR. I investigate the CSR resource complementarity between alliance members and its impact on the instantaneous stock market response to the focal alliance announcement using event study methodology. The results indicate that the positive abnormal stock return to a strategic alliance announcement becomes stronger when a partner firm practices strong CSR but weaker when the partner firm has complementary CSR resource profile. The positive impact of the partner firm’s strong CSR on the abnormal stock return is enhanced by the complementary CSR resource profiles, but mitigated by the focal firm’s strong CSR.
While the first two essays study the role of CSR in the alliance context, the third essay will examine how firms’ institutional isomorphic efforts influence the CSR-performance relationship. The panel data analysis with over 21,000 firm-year samples indicates that the firm’s CSR isomorphic processes enhance the positive CSR-performance relationship. However, the firm’s passive strategy to match industry average CSIR further worsens the negative CSIR-performance relationship. The decrease in the industrial ethical norm (industry average growth in CSIR) amplifies the negative impact of CSIR. I hope this dissertation provides meaningful and practical suggestions to academics and practice.
|Advisor:||UMESH, UCHILA N.|
|Commitee:||Sa Vinhas, Alberto M., Sagatm, Arvin|
|School:||Washington State University|
|School Location:||United States -- Washington|
|Source:||DAI-A 76/11(E), Dissertation Abstracts International|
|Keywords:||Corporate social responsibility, Event study, Panel data analysis, Response surface analysis, Sustainable competitive advantage|
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