Journal title CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES
Author/s Francesco Gangi, Eugenio D'Angelo, Lucia Michela Daniele, Maria Coscia
Publishing Year 1 Issue 2022/1
Language English Pages 26 P. 55-80 File size 0 KB
DOI 10.3280/cgrds1-2022oa13806
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Using a sample of 21 centenarian family firms from European countries over the 2008-2020 study period, we verify if corporate social responsibility (CSR) engagement can help the longevity of the centenarian family firms. In particular, consistent with the stakeholder theory and resource-based view, we find that the corporate social performance (CSP) has a positive impact on the corporate financial performance of family firms, even during a period affected by international financial crisis that stressed the survival of firms. Hence, based on the concept of CSR as a co-specialized asset that improves other assets, such as resilience, corporate identity, reputation and stakeholder influence capability, our results show that CSR engagement represents a key to longevity and a solution to the potential trade-off between the socioemotional wealth and the financial performance of centenarian family firms
Francesco Gangi, Eugenio D'Angelo, Lucia Michela Daniele, Maria Coscia, Does corporate social responsibility help the longevity of centenarian family firms in Europe? in "CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES" 1/2022, pp 55-80, DOI: 10.3280/cgrds1-2022oa13806