Corporate social responsibility, customer satisfaction, corporate reputation, and firms’ market valueevidence from the automobile industry

  1. J. García Madariaga
  2. F. Rodríguez Rivera 1
  1. 1 Universidad Complutense de Madrid

    Universidad Complutense de Madrid

    Madrid, España

    ROR 02p0gd045

Spanish journal of marketing-ESIC

ISSN: 2444-9695 2444-9709

Year of publication: 2017

Volume: 21

Issue: 1

Pages: 39-53

Type: Article

DOI: 10.1016/J.SJME.2017.05.003 DIALNET GOOGLE SCHOLAR lock_openOpen access editor

More publications in: Spanish journal of marketing-ESIC

Sustainable development goals


How does corporate social responsibility (CSR) impact on firms’ market value? Academy had found it difficult to give a suitable answer to this question, considered as the “Holy Grail” of CSR. In contrast to previous research that stressed subjective measures to rate CSR performance, was multi-sector focused and encompassed short periods, we propose a different insight. Using an objective CSR performance rating (Ethical Portfolio Management [EPM] owned by EIRIS), taking a single industry—the automobile industry—, and spanning 8 years, in this paper, we try to make a difference. Our results suggest that certain CSR issues—those related to corporate core business and critical stakeholders—may lead to companies’ better financial performance.

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