The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness

• DOI: 10.1287/mnsc.1120.1630
• Publication Date: 2013-01-09T14:00:42Z
• Authors: Henri Servaes; Ane Tamayo
• Keywords: Value (mathematics); Customer value; Customer engagement; Customer Lifetime Value

This paper shows that corporate social responsibility (CSR) and firm value are positively related for firms with high customer awareness, as proxied by advertising expenditures. For low the relation is either negative or insignificant. In addition, we find effect of awareness on CSR–value reversed a poor prior reputation citizens. evidence consistent view CSR activities can add to but only under certain conditions. was accepted Bruno Cassiman, business strategy.