Anglia Ruskin University Faculty of Education

View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Anglia Ruskin Research Online Anglia Ruskin University Faculty of Education Corporate Social and Financial Performance: The Case of Companies in Israel Yeshayahu (Shaike) Marom Thesis in partial fulfillment of the Requirements of Anglia Ruskin University For the degree of DOCTOR OF PHILOSOPY Submitted: August 2010 ACKNOWLEDGEMENTS Special thanks to my supervisors: Prof. Vernon Trafford, ARU, Chelmsford, UK: Your wide knowledge and abstract thinking lighted my way into doctorateness thinking. Dr. Andy Armitage, ARU, Chelmsford, UK: Your practical advice helped me through the hard work of Ph.D. thesis. To the Anglia Ruskin University staff that was very supportive throughout my research: Dr. Gill Robinson, ARU, UK Professor. Gina Wisker, ARU, UK To the Israeli Ph.D. coordinators: Mr. Dani Shenkar Mr. Avishai Tal i TABLE OF CONTENTS ABSTRACT ............................................................................................................ viii CHAPTER 1 INTRODUCTION................................................................................1 CORPORATE SOCIAL RESPONSIBILITY .........................................................................1 CSR IMPACT ON FINANCIAL PERFORMANCE ...............................................................2 PREVIOUS EMPIRICAL RESEARCH ................................................................................5 CONTEXT SETTING ......................................................................................................5 STRUCTURE OF THE THESIS .........................................................................................9 CHAPTER SUMMARY..................................................................................................10 CHAPTER 2 CORPORATE SOCIAL RESPONSIBILITY .................................11 INTRODUCTION ..........................................................................................................11 THE CONCEPTUAL DEVELOPMENT OF CSR ...............................................................11 THE 3-D MODEL........................................................................................................13 THE EVOLUTION OF CSR SINCE THE 1980S ...............................................................18 CORPORATE SOCIAL PERFORMANCE .........................................................................25 CHAPTER SUMMARY..................................................................................................26 CHAPTER 3 THE IMPACT OF SOCIAL RESPONSIBILITY ON FINANCIAL PERFORMANCE..............................................................................27 INTRODUCTION ..........................................................................................................27 THE TRADE-OFF HYPOTHESIS....................................................................................28 THE STAKEHOLDER THEORY OF THE FIRM ................................................................30 STAKEHOLDER MANAGEMENT ..................................................................................34 SOCIAL IMPACT HYPOTHESIS ....................................................................................37 RESOURCE-BASED VIEW ...........................................................................................38 NON-LINEAR RELATIONSHIP......................................................................................40 THE UNIFIED THEORY ...............................................................................................41 CHAPTER SUMMARY..................................................................................................44 CHAPTER 4 EXTANT STUDIES ...........................................................................45 INTRODUCTION ..........................................................................................................45 THEORETICAL PERSPECTIVE ......................................................................................45 OPERATIONALISATION AND MEASUREMENT OF CSR ................................................51 ii OPERATIONALISATION AND MEASUREMENT OF CFP.................................................64 RESULTS OF PAST EMPIRICAL RESEARCH..................................................................74 CHAPTER SUMMARY..................................................................................................76 CHAPTER 5 CONCEPTUAL FRAMEWORK AND THE RESEARCH INQUIRY............................................................................................77 INTRODUCTION ..........................................................................................................77 THE RESEARCH PROBLEM .........................................................................................77 RESEARCH PURPOSE ..................................................................................................77 MAPPING OF THE RESEARCH AREA ...........................................................................79 THE FOCAL THEORY..................................................................................................80 BRIDGING THEORY AND PRACTICE............................................................................82 THE CONCEPTUAL FRAMEWORK ...............................................................................84 CHAPTER SUMMARY..................................................................................................87 CHAPTER 6 RESEARCH DESIGN .......................................................................88 INTRODUCTION ..........................................................................................................88 LINKING THE PARADIGMS..........................................................................................88 METHODOLOGY.........................................................................................................88 INDUCTIVE AND DEDUCTIVE RESEARCH.....................................................................89 QUANTITATIVE AND QUALITATIVE RESEARCH ...........................................................90 THE CHOICE OF METHODOLOGY FOR MY RESEARCH...................................................91 CROSS-SECTIONAL RESEARCH ..................................................................................93 METHODS ..............................................................................................................95 SAMPLE ..............................................................................................................97 ETHICS CONSIDERATION............................................................................................99 DATA ACCESS AND COLLECTION...............................................................................99 NUMBER OF CASES IN EACH GROUP OF CSR...........................................................101 TYPE OF DATA.........................................................................................................102 SOURCE FOR CSR DATA..........................................................................................103 SOURCE FOR CFP DATA ..........................................................................................104 CHAPTER 7 FINDINGS ........................................................................................106 INTRODUCTION ........................................................................................................106 TESTING OF THE FIRST HYPOTHESIS ........................................................................106 RESULTS OF TESTING FOR THE FIRST HYPOTHESIS ..................................................108 TESTING OF THE SECOND HYPOTHESIS ....................................................................112 iii RESULTS OF TESTING FOR THE SECOND HYPOTHESIS ..............................................114 TESTING THE INFLUENCE OF COMPANY SIZE ON CSR .............................................117 TEST EVALUATION ..................................................................................................118 CHAPTER SUMMARY................................................................................................121 CHAPTER 8 INTERPRETATION OF THE RESEARCH ................................122 INTRODUCTION ........................................................................................................122 THE INTERPRETIVE APPROACH................................................................................122 CONSISTENCY AND RIGOUR.....................................................................................123 INTERNAL CONSISTENCY .........................................................................................124 CHAPTER SUMMARY................................................................................................128 CHAPTER 9 CONCLUSIONS...............................................................................129 INTRODUCTION ........................................................................................................129 PURPOSES OF THE RESEARCH ..................................................................................129 FACTUAL CONCLUSIONS..........................................................................................131 CONCEPTUAL CONCLUSIONS ...................................................................................132 A CRITIQUE ............................................................................................................134

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