Corporate Social Responsibility, Customer Satisfaction, and Market Value  

Oleh:

Luo, Xueming ; C. B. Bhattacharya

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Marketing (EBSCO) vol. 70 no. 4 (Okt. 2006), page 1-18.
Topik: CORPORATE; corporate social; customer satisfaction; market value
Fulltext: 2.pdf (276.29KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ94.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Although prior research ahs addressed the influence of corporate social responsibility (CSR) on perceived customer responses, it is not clear whether CSR affects market value of the firm. This study develops and tests a conceptual framework, which predicts that : 1. customer satisfaction partially mediates the relationship between CSR and firm market value (i.e. tobin's q and stock return) 2. corporate abilities (innovativeness capability and product quality) moderate the financial returns to CSR, and 3. these moderated relationships are mediated by customer satisfaction. Based on a large scale secondary data set, the results show support for this framework. Notably the authors find that in firms with low innovativeness capability. CSR actually reduces customer satisfaction levels and through the lowered satisfaction, harms market value. The uncovered mediated and asymmetrically moderated results offer important implications for marketing theory and practice.

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