Social Responsibility and Corporate Performance Nexus: An In-depth Analysis of Selected Firms in Ghana
Abstract
Some scholars and practitioners view CSR as a vital investment needed for the survival, effective and efficient functioning of the firm (Porter & Kramer, 2006). Management of other firms has resisted CSR activities, with the argument that additional investment in such activities is incoherent with efforts to maximize profits (Reich, 2010). Kang, Lee and Huh believe that CSR initiatives add to the operational costs of the firm (Kang, Lee, & Huh, 2010). The ultimate question to be answered from the seemingly increasing number of companies engaging in socially responsible acts is whether the adoption of CSR activities by companies lead to improvements in corporate performance and what impact do such activities have on the society. There is an unclear relation between CSR approaches and organization’s performance.
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