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The Impact Of Corporate Social Responsibility (CSR) On Corporate Financial Performance (CFP) In The Listed Swedish Financial Institutions.Alkhalili, Shatha, Namayanja, Victoria January 2021 (has links)
Given that Sweden is one of the most sustainable countries in the world (RobecoSAM, 2018), with a big number of its companies as active participants in CSR, we investigate the impact that these CSR activities could have on CFP with a focus on the Financial sector, using in 26 listed Financial Institutions. As we will find out from the existing literature, the CSR-CFP relationship is neither strictly negative nor positive. If it is positive, then the firm will allocate more resources to CSR to achieve better financial performance, and the firm may fore-go or approach CSR initiatives with caution if they affect CFP negatively. Past researchers have studied this relationship before and found that the reason why financial institutions get involved in socially responsible activities is to gain public trust and justification usually after a public financial scandal. So, we explore this further expecting that if it is indeed a matter of fact that these institutions gain the justification from the public that they so desire when they choose to get involved in socially responsible activities, then it should be that the public trust and justification would translate into improved financial performance. Therefore, the research question that we seek to answer is “Does Corporate Social Responsibility (CSR) have an Impact on Corporate Financial Performance (CFP) in the Listed Swedish Financial Institutions” We examined the relationship between CSR and CFP using 26 Swedish financial institutions that are listed on Nasdaq Nordic stock exchange market (Stockholm) for the period between 2015 and 2019. The Fixed Effects Model regression analysis for panel data was used to test this relationship and we found that when Swedish financial institutions get involved in CSR, their financial performance is neither worsened or improved because of the insignificant ESG coefficients that we found. Swedish financial institutions' engagement in socially responsible activities does not guarantee an impact on their financial performance.
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Social and environmental practices and corporate financial performance of multinational corporations in emerging markets: Evidence from 20 oil-rich African countriesAdams, D., Adams, Kweku, Attah-Boakye, R., Ullah, S., Rodgers, W., Kimani, D. 11 January 2023 (has links)
Yes / Studies find that oil-rich African countries (OACs) suffer slow socio-economic growth and development. The petroleum operations in these countries are also primarily in the hands of multinational corporations (MNCs). Motivated by their profit maximisation prospects (PMPs), the MNCs face significant corporate social responsibility (CSR) dilemmas with reference to their contribution to the socio-economic growth of these African economies. Even though there are few studies on CSR and corporate financial performance (CFP) within the African context, little or no attention has been paid to how and the extent to which MNCs' PMPs, CSR and CFP interact to affect the socio-economic growth of OACs. Drawing from legitimacy, institutional, and agency theories we employ a panel data approach covering 14 years (2003–2017) to understand the drivers of these PMPs, how PMPs affect corporate ethical considerations, and CFP and their implications on OACs' socio-economic growth. We find that PMPs of MNCs within OACs impede their CSR commitment. There is a significant positive relationship between CSR and CFP; efficient CSR practices impact CFP positively, and MNCs' contribution to OACs' socio-economic growth is significantly constrained by weak institutional environments. We conclude that institutional reforms and strategic investment in CSR could foster rapid socio-economic growth and development within OACs. Our study contributes to policy and knowledge on MNC's PMPs, CSR practices, CFP and literature on business ethics and the natural resource-curse.
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Kulturens modererande effekter på sambandet mellan CSR och CFP : En kvantitativ studie av 3230 börsnoterade företag från 46 olika länderForoughi, Ferdous, Hasan, Shabab January 2019 (has links)
Titel: Kulturens modererande effekter på sambandet mellan CSR och CFP Nivå: Examensarbete på grundnivå (kandidatexamen) i ämnet företagsekonomi. Författare: Ferdous Foroughi och Shabab Hasan Handledare: Jan Svanberg Datum: 2019 - juni Syfte: Företagens sociala ansvar (CSR) har utvecklats till ett viktigt ämne både för företag och dess intressenter. Varierande resultat gällande effekten av CSR-insatser på företagsprestanda har tidigare rapporterats. Tidigare studier undersöker och fokuserar på en liten del av CSR med många olösta teoretiska och empiriska frågor till följd av detta. Det har även visats att kultur påverkar beslutsfattandet i synnerhet i relation till CSR. Syftet är därmed att undersöka om nationell kultur har modererande effekter på sambandet mellan CSR och finansiell prestation (CFP) hos börsnoterade bolag i världen. Metod: Studiens vetenskapsteoretiska utgångspunkt är positivism med hypotetiskt-deduktiv ansats. En kvantitativ forskningsstrategi används för 3230 börsnoterade företag med data från en femårsperiod 2013 - 2017. Datan baseras på sekundärdata inhämtad från Thomson Reuters Eikon, Världsbanken och Hofstedes kulturindex, vilken analyserats med univariata och bivariata statistiska tester samt multipla regressionsanalyser i statistikprogrammet IBM SPSS Statistics. Resultat & slutsats: Det finns ett positivt samband mellan CSR och CFP. Nationella kulturer har modererande effekter på det sambandet. Genom att använda Hofstedes kulturdimensioner har det visats att maktdistans (PD), osäkerhetsundvikande (UAI), maskulinitet (MAS) och långtidsorientering (LTO) har negativ modererande effekter, medan individualism (IDV) och tillfredsställelse (IND) har positiv modererande effekter på sambandet mellan CSP och CFP. Examensarbetets bidrag: Studien bidrar med ny kunskap för att fylla forskningsgapet gällande nationella kulturers modererande effekter på sambandet mellan CSR och finansiell prestation. Studien bidrar på ett värdefullt sätt till både tidigare teori och empiri samt lyfter fram nationella kulturers påverkande roll för företagens finansiella prestation. Förslag till vidare forskning: Det behövs flera liknande studier med andra variabler som kontrollerar och analyserar sambandet. Vidare föreslår vi också att genomföra en liknande studie som även inkluderar icke-börsnoterade bolag, för att omfatta flera länder och dessutom en längre tidsperiod än fem år för att se om nationella kulturer påverkar sambandet på ett annat sätt. Nyckelord:Corporate social responsibility, corporate social performance, corporate financial performance, nationell kultur, Hofstedes kulturdimensionsteori. / Title: Culture’s moderating effects on the relationship between CSR and CFP Level: Student thesis for Bachelor’s Degree in Business Administration Authors: Ferdous Foroughi och Shabab Hasan Supervisor: Jan Svanberg Date: 2019 - june Aim: Corporate Social Responsibility (CSR) has been developed to become an important subject for both corporates and their stakeholders. Varying results have been reported regarding the effect of CSR initiatives. Prior studies investigate and focus on a small part of CSR with following unresolved theoretical and empirical questions. It has also been shown that culture affects decision making, particularly in relation to CSR. The aim of this study is hence to investigate whether national culture has moderating effects on the relationship between CSR and corporate financial performance (CFP) among listed corporations in the world. Method: A positive research methodology has been applied with a hypothetical-deductive approach. A quantitative research strategy is used for 3230 listed corporations with data from a five-year time period 2013 - 2017. Data is based on secondary data from Thomson Reuters Eikon, World Bank and Hofstedes cultural index, which were analyzed with univariate, bivariate and multivariate analyses in the statistical software IBM SPSS Statistics. Result & Conclusion: There is a positive correlation between CSR and CFP. National cultures have moderating effects on that correlation. Using Hofstede's cultural dimensions, it has been shown that power distance (PD), uncertainty avoidance index (UAI), masculinity (MAS) and long-term orientation (LTO) have negative moderating effects, while individualism (IDV) and indulgence (IND) have positive moderating effects on the relationship between CSP and CFP. Contribution of the thesis: The study contributes with new knowledge to fill the research gap regarding national cultures’ moderating effects on the relationship between CSR and financial performance. The study contributes in an insightful way to both prior theory and empirical data and emphasizes the role of national cultures on the corporates’ financial performance. Suggestion for future research: Several similar studies are needed with other variables that control and analyze the relationship. Furthermore, we also propose to carry out a similar study that also includes non-listed companies, to include several countries and, moreover, a longer time period than five years to see if national cultures affect the relationship in another way. Keywords:Corporate social responsibility, corporate social performance, corporate financial performance, national culture, Hofstede’s cultural dimension theory.
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Påverkar äktheten i socialt ansvarstagande den finansiella lönsamheten i företag? : En kvantitativ studie av 280 europeiska bolagAdebäck, Julia, Eriksson, Ludvig January 2017 (has links)
Syfte: Det ställs idag högre krav på att företag inte enbart kan fokusera på att tjäna pengar utan att de också måste börja ta ansvar för miljö, samhälle och ekonomi. Till följd av de ökade kraven på företagen har vikten av begreppet Corporate social responsibility (CSR) ökat de senaste årtiondena. En populär inriktning hos tidigare studier inom området CSR är om CSR påverkar företagets finansiella prestation (CFP), vilka visat på motsägelsefulla resultat. Dock har forskning identifierat ett äkthets-gap mellan företags uttalade ansvarstagande och vad som i verkligheten utförs. Det har även konstaterats att en CSR-kommitté samt att konsekvent CSR påverkar äktheten i CSR. Syftet med denna studie är därför att undersöka hur äktheten hos investeringar i Corporate social responsibility, CSR, med avseende på hur en CSR-kommitté och konsekvent CSR, påverkar företagens lönsamhet, CFP. Metod: Studien antar en positivistisk forskningsfilosofi med en hypotetiskt deduktiv ansats. Utifrån ett kvantitativt tillvägagångssätt har sekundärdata inhämtats från databasen Thomson Reuters Datastream. En longitudinell design har använts där data har inhämtats över en sexårsperiod där det slutgiltiga urvalet har analyserats med hjälp av multipla regressionsanalyser i statistikprogrammet IBM SPSS. Resultat & slutsats: Studien visar att lönsamheten är högre hos företag som innehar en CSR-kommitté, än för företag utan CSR-kommitté, vilket indikerar att företag genom ett äkta engagemang i CSR uppnår ökad lönsamhet. Ledningens benägenhet att förmedla socialt ansvarstagande leder till ett bättre samarbete med företagets intressenter som ger ett högre finansiellt utfall. Förslag till fortsatt forskning: Studier som undersöker företags konsekventa CSR-aktiviteter över en längre tidsperiod för att identifiera effekterna av den nya hållbarhetslagen. Eftersom förekomsten av en CSR-kommitté påverkar företags lönsamhet önskar vi även ytterligare forskning angående vilka faktorer som kan förstärka eller försvaga utfallet. Uppsatsens bidrag: Ur ett teoretiskt perspektiv bidrar denna studie till redovisningslitteraturen genom att undersöka sambandet mellan finansiell prestation och äktheten hos bolagens CSR-motiv. Ur ett praktiskt perspektiv kan denna studie vara betydelsefull för företag som planerar att implementera en CSRkommitté eftersom detta bidrar till företags lönsamhet. / Aim: Todays’ companies are facing an increased demand from society that they need to shift their priorities from just making money to being socially responsible. Due to the increased demand, the importance of the concept Corporate social responsibility (CSR) has also increased in the last decades. A popular branch in prior CSR studies has been to investigate if CSR-investments affects the Corporate financial performance (CFP) which has shown conflicting results. However, previous research has identified an authentic gap between what companies are promising and what they implement in reality. Therefore the aim with this study is to investigate how authentic investments in CSR, with regard to how a CSR committee and consistent CSR, influence corporate financial performance (CFP). Method: The study is based on the philosophy of positivism with a hypothetical deductive approach. Secondary data has been collected from Thomson Reuters Datastream with a quantitative approach. A longitudinal design has been used where data has been collected over a period of six years and the final sample has been processed and analyzed with regression analysis in IBM SPSS. Result & Conclusions: This study shows that companies’ financial performance is higher in the presence of a CSR-committee, which indicates that a company by engaging in authentic CSR-activities gets a higher financial performance. Management preferences to communicate the company's social responsibility results in a better financial performance due to a better relationship with the stakeholders Suggestions for future research: Suggestions for future research may investigate how the consistency of companies CSR is influenced by the new legislation over a longer period of time. Since the CSR-committee is influential for the financial performance we would also like to see further studies involving factors that might weaken or strengthen this relationship. Contribution of the thesis: From a theoretical perspective this study contributes to the accounting literature by investigating the relationship between financial performance and authentic CSR motives. From a practical perspective this study can be of interest for companies that are planning to implement a CSR-committee since this is an influential factor for the financial performance.
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The Relationship between Corporate Social and Financial Performance : Evidence from Chinese Heavy-polluting IndustriesJiang, Lijun, Yang, Qishen January 2015 (has links)
This study investigates the relationship between corporate social performance (CSP)and corporate financial performance (CFP) within the context of a particular CSPelement: environmental investment. Two models of the determinants of companies’environmental investment are estimated in order to capture the difference betweenfirms’ actual and expected level of environmental investment. The regressionresiduals are used as our measure of corporate social performance. Both market-basedand accounting-based measures of financial performance are applied to representcorporate financial performance. With the analysis of a sample encompassing 223Chinese heavy-polluting companies, we have found that it is more likely to observe asignificantly positive relationship between firms’ environmental endeavors and theiraccounting-based financial performance among firms that are more active to disclosecorporate information. Besides, building on our empirical findings that corporatesocial performance is positively correlated with accounting-based financialperformance but has no correlation with market-based financial performance, wesuggest a priority for managers from Chinese heavy-polluting industries when theyfulfill social demands of various stakeholders.
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Νεότερες εξελίξεις στην κοινωνική λογιστική των επιχειρήσεων : Η σχέση κοινωνικής με την οικονομικής τους απόδοσης / Recent developments in corporate social accounting : The relationship between social and financial performanceΦίλιος, Φίλιππος 04 December 2014 (has links)
Στην μελέτη αυτή εξετάζονται μία σειρά από συναφή ζητήματα τα οποία συνδέονται άρρηκτα μεταξύ τους:
Α) Πως μετριούνται οι κοινωνικές επιδόσεις των εταιρειών;
Β) Ποιες συνέπειες μπορεί να έχει μία καλή κοινωνικώς απόδοση;
Γ) Ποιες σχέσεις τεκμηριώνονται εμπειρικώς ανάμεσα στην απόδοση σε κοινωνικούς όρους και στην απόδοση σε οικονομικούς όρους.
Δ) Είναι εφικτό ένα κοινωνικό συμβόλαιο μεταξύ επιχειρήσεων και κοινωνίας; Ποια μορφή μπορεί αυτό να πάρει;
Ε) Τι ρόλους καλείται να παίξει και πως η Κοινωνική Λογιστική των Εταιρειών; Ποια επιμέρους είδη Κοινωνικής Λογιστικής έχουν αναπτυχθεί και ποιες σκοπιμότητες-χρησιμότητες υπηρετούν;
ΣΤ) Τι εννοείτε ως ηθική συμπεριφορά στον Τραπεζικό τομέα;
Ζ) Case-Study: «Η Alpha Bank» / In this study i examine, throw desk research, a series of related issuew which are closely connected:
A) How the Corporate Social Performance is measured?
B) What consequences can have a socially good performance?
C) Which relationships are empirically documented between corporate social performance and corporate financial performance?
D) Is it feasible a social Contract between corporation and society?
E) Which roles has been called the Micro-Social Accounting to play? What kinds of Micro-Social Accounting have been developed and which scope does each serve?
F) What do we mean as ethical behaviour in banking sector?
G) Case-Study: “Alpha Credit Bank”
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Relationship between corporate climate change adaptation and corporate financial performanceKynast, Luisa 11 January 2024 (has links)
Any mitigation action will neglect climate change impacts (CCI) (Gillett et al., 2011: 83; Parry et al., 2009: 1102) occurring in a change of average weather patterns as well as in an increase in frequency and magnitude of extreme weather events (EWE) (IPCC, 2007: 8 and 52 f.; IPCC, 2012: 119 f.). For this thesis of special interest are businesses of the construction industry. Construction activities are carried out in an open environment which makes the construction companies´ highly impacted on weather conditions compared to many other sectors (Wedawatta et al., 2010: 364). Furthermore, the construction sector is a fundamental part in any economy (Wedawatta, et al. 2010: 365; Squicciarini and Asikainen, 2011: 672). In mitigation literature a sound amount of studies researches on the relation of corporate fi-nancial performance (CFP) and emissions. Guenther et al. (2012) analyzed empirical studies with regard to their connection between environmental and financial performance of corpo-rations whereby the majority of results implement a positive as well as negative relation. Therefore, this thesis investigates a possible association of implemented measures as re-sponse to the CC and the financial performance on a corporate level. In particular, the aim of this thesis is to analyze the association between corporate financial performance (CFP) and implemented climate change adaptation measures (CCAM) especially for companies of the construction industry. For providing a solid base for this point of interest the affection for construction businesses by CC and the response to the CCI of construction businesses is in-vestigated in addition.
For the investigation of an association between CCAM and CFP the statistical methodology of regression was applied. The results clearly support the raised hypothesizes by computing a relationship between these variables in both directions. The results gained in this thesis stress adaptation to CC as a crucial proxy to handle CCI by mitigating risks and exploiting oppor-tunities. Nevertheless, still a reluctant attitude of businesses exists for the implementation of CCAM. This was found in literature and could be reassured by the results of the content analysis since businesses connote CCAM often with increasing cost and expenses and do not draw back on the effect on financial performance. This thesis found a positive effect of im-plemented CCAM on ROA on the short-run. These findings do refer to appropriate CCAM in terms of the right amount. For the opposite direction it was investigated, that if a construc-tion business is financially impacted by CC, an increase in slack causes the implementation of adaptation measures. By the implementation of adaptation measures the dependency from environmental changes is increased (RDT) and the companies´ structure becomes more het-erogenic (RBV). Financial slack is proved to be important to keep the company flexible in taking action. Especially, if a company is financially impacted by CCI financial slack is used for implementing measures.:1 Introduction
2 Theory
2.1 Resource Dependence Theory
2.2 Resource Based View
2.3 Organizational Slack
3 State of Research
3.1 Introduction to Climate Change Adaptation
3.2 Climate Change Mitigation and Adaptation Literature dealing with CFP
3.3 Financial Implication of CCI and CCAM
3.4 Climate Change Impacts and Adaptations Measures on Construction Enterprises
3.4.1 Construction Enterprises and their specific Value Chain
3.4.2 CCI on Construction Enterprises
3.4.3 CCAM for Construction Enterprises
3.5 Hypothesis development
4 Methodology
4.1 Content Analysis
4.2 Regression Analysis
4.2.1 Multiple Linear Regression Analysis
4.2.2 Poisson and Negative Binominal Regression Analysis
4.3 Model description
4.3.1 Operationalization of the Content Analysis
4.3.2 Operationalization of the Regression Analysis
5 Results
5.1 Results of the Content Analysis
5.2 Results of the Regression Analysis
5.2.1 Results of the Multiple Linear Regression
5.2.2 Results of the Negative Binomial Regression
6 Discussion, Limitation, and Further Research
6.1 Discussion of Results for the Association between CFP and CCAM
6.2 Limitations and Further Research
7 Conclusion
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Sambandet mellan ESG-betygets socialdimension och finansiell prestation inom den globala banksektornGoldkuhl, Jesper, Gusén, Hanna January 2022 (has links)
Syfte: Det finns idag en förväntan från ägare, kunder och andra intressenter att företag ska rapportera sitt hållbarhetsarbete då hållbarhet vanligtvis syftar till att ta ansvar för sina egna behov samtidigt som den framtida generationen står i fokus. Banksektorn spelar en stor roll i samhället genom deras roll som kapitalleverantörer för den globala utvecklingen, vilket leder till att det också finns ett stort intresse av att de arbetar med hållbarhetsfrågor. En hållbar banksektor är av väsentlig betydelse för ett lands hållbarhetsmål och fortsatta utveckling. Syftet med studien är därmed att undersöka sambandet mellan bankers hållbarhetsprestation, mätt med SOC-Score, och lönsamheten inom den globala banksektorn med fokus på socialt ansvar. Metod: Detta är en kvantitativ studie utförd med en hypotetisk-deduktiv ansats. Sekundärdata har samlats in från Thomson Reuters databas Refinitiv Eikon där 341 banker har analyserats med en longitudinell design för åren 2016–2020. Univariat, bivariat samt multivariat analys av sekundärdata har skett i statistikprogrammet SPSS. Resultat & slutsats: Resultatet av studien visar att det saknas signifikant samband mellan SOC-Score och de beroende variablerna ROA och ROE på den globala banksektorn. Detta medför att studien inte kan dra några direkta slutsatser om det finns ett positivt samband eller inte mellan dessa variabler. Trots att studien saknar signifikant samband, visar studiens regressionsanalyser ändock på att SOC-Score och lönsamheten har en mer negativ relation än en positiv. Examenarbetets bidrag: Studien bidrar till ökad kunskap gällande sambandet mellan finansiell prestation och socialt hållbarhetstagande inom den globala banksektorn. Vi författare hoppas även kunna främja ett mer hållbart arbetssätt. Förslag till fortsatt forskning: Trots att studien inte genererade ett signifikant samband i banksektorn, visade studiens resultat på ett negativt samband mellan lönsamheten och SOC-score. Det vill säga att det uppstår en kostnad att hållbarhetsrapportera. Vi författare anser att det hade varit intressant att jämföra banker som inte hållbarhetsrapporterar, för att se om de bankerna har sämre lönsamhet än de banker som hållbarhetsrapporterar. Även om det är kostsamt att arbeta med hållbarhet, kanske det ändå är mer lönsamt än att inte göra det alls. Vidare skulle även avgränsningar kunna göras, eventuellt att fokusera på ett visst land eller världsdel.
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Essays on sustainability: the impact on firms' performance and innovationBrunelli, Giampaolo 20 July 2023 (has links)
Eco-innovation is crucial for companies to balance environmental compliance with profitability. It involves implementing more efficient resource use and reducing harmful environmental effects. However, eco-innovation requires significant resources and corporate commitment. This thesis examines how sustainability affects firms’ performance and how some firms’ structures influence this relationship. Three articles are included: one studies the moderating role of the supply chain network in the relationship between corporate environmental and financial performance; the second studies how board gender diversity impacts eco-innovation through a moderated mediation model introducing the CSR committee as a mediator and board-independent members as a moderator; and the third studies the link between eco-innovation and productivity in reducing GHG emissions.
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The impact of corporate social performance on corporate financial performance / Įmonės socialinės veiklos įtaka įmonės financiniams rezultatamsKanclerytė, Agnė 14 September 2010 (has links)
This thesis attempts to extend the research in the Corporate Social Performance – Corporate Financial Performance relationship. The studies conducted previously display mixed findings with no unified evidence of the relationship direction and impact. This study reviews the existing literature on CSP and CFP as well as their link, identifying main problems and brings forward the concepts of strategic CSP and ad-hoc CSP. These concepts in a wider term are referred as CSP maturity. The main aim of this study is to investigate whether there is a relationship between company’s financial performance and CSP maturity and if the relationship is present, the relationship direction and causality. A study sample was constructed from large European banks and insurance companies. A panel data containing the information of 86 companies measured separately three times in three years period was analyzed. The empirical study used return on asset (ROA), return on equity (ROE) and return on sales (ROS) ratios for CFP operationalisation. CSP maturity was measured as years of continuous involvement into strategic CSP. The correlation analysis was build in order to verify the hypothesis about the CSP maturity and CFP relationship direction. Additionally the average mean of ROA, ROE and ROS was compared between the companies engaged in strategic and ad-hoc CSP. The weighted least squares regression, including several control variables was constructed to test two models of CSP maturity and CFP... [to full text] / Šiuo magistriniu darbu autorė siekia praplėsti įmonės socialnės veiklos (CSP) ir įmonės finansinių resultatų (CFP) sąryšio tyrimus. Ankstesnių tyrimų rezultatai yra prieštaraujantys ir nepateikiantys vienalyčių įrodymų apie šių dviejų kintamųjų ryšio kryptį bei stiprumą. Šis tyrimas apžvelgia ankstesnius tyrimus, atliktus siekiant ištirti ryšį tarp CSP ir CFP, identifikuoja pagrindines problemas ir pristato strateginės ir atsitiktinės socialinės veiklos sampratas. Šios sampratos apibendrintai yra vadinamos CSP branda. Pagrindinis šio tyrimo tikslas yra ištirti ar egzistuoja priežastinis ryšys tarp CSP and CFP ir jei egzistuoja, nustatyti jo kryptį bei priežastingumą. Tyrimui naudojama imtis buvo sudaryta iš stambių Europos bankų bei draudimo kompanijų. Tyrimui buvo naudojami paneliniai duomenys, kurie buvo gauti 86 įmones matuojant 3 kartus tryjų metų periode. Tyrime įmonių finansiniai rezsultatai buvo matuojami turto grąžos (ROA), nuosavybės grąžos (ROE) bei pardavimų grąžos (ROS) rodikliais. CSP branda buvo matuojama nepertraukiamos strategines CSP veiklos metų skaičiumi. Koreliacijos analizė parodė neigiamą ryšį tarp CSP brandos ir įmonės finansinų rezultatų (koreliacijos koeficinetai kievienam finansiniam rodikiui buvo -0.438, -0.358, -0.350). Nepriklausomų imčių vidurkių palyginimo T-testas parodė statistiškai reikšmingą skirtumą tarp ROA ir ROS rodiklių lyginant įmones, kurios CSP vykdė strategiškai ir atsitiktinai. Įmonės, kurios vykdė CSP atsitiktinai, jų ROA ir ROS... [toliau žr. visą tekstą]
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