Does Innovation Play a Role in the Relationship Between Corporate Social and Financial Performance? A Systematic Literature Review

https://doi.org/10.35912/ijfam.v4i3.1146
Published: Dec 5, 2022

Abstract:

Purpose: This research aims to provide a comprehensive knowledge map of the intellectual structure of the field of study on the role of innovation in shaping the social and financial performance link.

Research methodology: Systematic literature review using the SALSA (Search, Appraisal, Synthesis, and Analysis) Method based on a 10-year data set (2012-2021) from the “Google Scholar” database.

Results: The findings point to the existence of a positive influence of innovation in linking Corporate Social Performance to firm Financial Performance and reveal the existence of five themes in the research, specifically complementarity between Corporate Social Responsibility and innovation, the special case of small and medium-sized enterprises, and the context of emerging countries. Also, we highlight a lack of research in this field and the theoretical, design, and methodological limitations of previous studies.

Limitations: The primary limitation of this study is the small number of studies that address the research question addressed by this systematic literature review, which was generated by the research protocol.

Contribution: The study suggests avenues for future research to address the previous shortcomings. Particularly, identifying the condition effects through which innovation may affect the studied relationship.

Keywords:
1. Corporate financial performance (CFP)
2. Corporate Social Responsibility (CSR)
3. Innovation
4. Mediation
5. Moderation
Authors:
1 . Fadwa El FALLAHI
LAREM- ISCAE Business School Casablanca, Morocco
https://orcid.org/0000-0002-1804-3928
2 . Abdelmajid Ibenrissoul
ISO-ENCG National School of Business and Management (ENCG) Casablanca, Morocco
3 . Adil EL AMRI
LERSEM Laboratory, National School of Business and Management (ENCG) El Jadida, Morocco
https://orcid.org/0000-0003-1849-8727
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El FALLAHI, F., Ibenrissoul, A., & EL AMRI , A. (2022). Does Innovation Play a Role in the Relationship Between Corporate Social and Financial Performance? A Systematic Literature Review. International Journal of Financial, Accounting, and Management, 4(3), 315–334. https://doi.org/10.35912/ijfam.v4i3.1146
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Vol. 4 No. 3 (2022): December
Articles
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  16. Branco, M., & Rodrigues, L. (2006). Communication of CSR by Portuguese banks: a legitimacy theory perspective. Corporate Communications: An International Journal, 11(3), 232-248.
  17. Busch, T., & Schnippering, M. (2022). Corporate social and financial performance: Revisiting the role of innovation. Corporate social responsibility and environmental management.
  18. Cegarra-Navarro, J.G., Reverte, C., Gomez-Melero, E., & Wensley, A.K. (2016). Linking Social and Economic Responsibilities with Financial Performance: The Role of Innovation. European Management Journal, 34(5), 530-539. https://doi.org/10.1016/j.emj.2016.02.006
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  26. Doh, J. P., Howton, S. D., Howton, S. W., & Siegel, D. S. (2010). Does the market respond to an endorsement of social responsibility? The role of institutions, information, and legitimacy. Journal of management, 36(6), 1461-1485.
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