The Impact of CSR on Corporate Financial Performance
We provide one of the first analyses of corporate social responsibility (CSR) and firm performance using only
annual financial reports. We document a link between corporate financial performance (CFP) and CSR, although this is not
always positive. Specifically, we investigate whether CSR performance can be implied from financial reporting and provide
evidence that CSR information implied by financial reports have a significant association with CFP. Furthermore, we
provide the first comprehensive study of CSR reporting and link it with CFP in New Zealand.
Keywords - Corporate Social Responsibility (CSR), Corporate Governance, Corporate Financial Performance (CFP),