Corporate Social Responsibility Behavior: Impact on Firm’s Financial Performance in an Information Technology Driven Society

Abstract

Corporate social responsibility (CSR) and its impacts on financial performance has been studied exhaustively, however proponents reports differing findings. A number of studies have shown that there exist a significantly positive correlation between research and development (R&D) and profitability. Between the period 2009 and 2013, we analyzed 500 Ghanaian cases in which companies’ integrate R&D investments as one of their business sustainable development strategies for feasible advancement; they additionally recognize their altruistic “give-away” as commitments to CSR. In view of hypothetical affirmations and observational confirmation in this study, we recognized a positive relationship between CSR and financial performance.