Why do companies launch social-responsibility programs (CSR)? Is it a genuine effort? Or is it merely window dressing? A study of 4,500 American firms, executed over a 19-year span, aims to explain the rise of CSR. The outcome generates a sense of hope and optimism. The researchers found that many companies invest in CSR because they think it’s the right thing to do or a good move for the business. Their courage is more often rewarded by improving the overall financial performance of the company. That gives some credence to the theory that firms can in fact “do well by doing good.”
Companies do good because “it’s the right thing to do”, study says
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