My Master Thesis

The Influence of Corporate Environmental and Social Responsibility on Financial Performance­

—a Comparison Between the USA and the EU*

Tilburg University 
School of Economics and Management
Master International Management
Finance Department
Supervisor: dr. M.F. Penas
2nd Reader: dr. J. Kuilman

Student:
Julia Pabst
Student nr. 782380
Date: 22.12.2014

Download Link: https://drive.google.com/file/d/0B-DN1OZs_jSoWmFRa0xHOS0tQjQ/view?usp=sharing

Abstract

This master thesis investigates the relationship of corporate social responsibility on financial performance for the years 2009-2013. It distinguishes between social and environmental performance and analysis data on a company level separately for the USA and the EU. The results of the regression analysis provide empirical evidence that social and environmental performance have a small but significant positive effect on firm performance (measured in Tobin’s Q) for the US and the EU. This research finds a moderating effect of integrated reporting for the EU and a moderating effect of rule of law for social performance in the US and the EU. 

Keywords: Corporate Social Responsibility, European Union, United States, Integrated Reporting, Rule of Law

* Nominated for Best Thesis Award