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Social Indicators Research
Published in: Social Indicators Research 2/2018

08-11-2017

Twenty Years of Research on the Relationship Between Economic and Social Performance: A Meta-analysis Approach

Authors: Francisco J. López-Arceiz, Ana J. Bellostas, Pilar Rivera

Published in: Social Indicators Research | Issue 2/2018

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Abstract

The aim of this paper is to analyze the relationship between economic and social performance in an organizational context. We perform a meta-analysis to test this relationship and to examine the influence of the measurement criteria and organizational characteristics, such as activity, social orientation, technology and cultural environment. We find 678 effect sizes in 83 papers. Our results reveal a positive relationship between economic and social performance, although differences in the sign are detected depending on the measurement instrument and the type of organization.
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Appendix
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Footnotes
1
We included studies of environmental management and financial performance in the meta-analysis. First, some studies, especially earlier ones, use environmental management as a proxy for social performance. Second, we found stakeholders related to environmental aims (Starik 1995). Finally, the business community tends to regard social responsibility as including both social and environmental performance (for example, BusinessWeek 1999).
 
2
We started the research process using this sequence of Boolean operators: (Social performance OR Corporate social responsibility OR Social value) AND (Economic performance OR Profitability OR Financial performance OR Economic value). We obtained 167,132 papers in SCOPUS and 452 in Web of Science. After this process, we added three elements: type of organization (socially responsible business, social enterprise and nonprofit), relationship and correlation. Web of Science offered 16 articles, and SCOPUS offered 83 papers. Those papers from Web of Science were included in SCOPUS.
 
3
A meta-analysis takes into account individual studies, but also previous meta-analyses that are introduced with a mean correlation and a SD. Consequently, this technique provides a complete set of information about the studied item.
 
4
According to Hofmann et al. (2005), there are three advantages related to the use of the correlation coefficient. First, the accumulation of findings across studies allows for a proper estimation of the mean population correlation being controlled variability. Second, the variance of population can be estimated. Finally, we can model the variability among population through the effect of potential moderators.
 
5
To evaluate the publication bias, we use Egger's test for small-study effects. The obtained results do not enable us to reject the null hypothesis (p value > 0.10). Thus, there is a little evidence of this type of bias in the studied sample.
 
6
We include in this category indicators with a frequency lower than one: financial sustainability, economic efficiency, economic efficacy, self-values, utilitarian identity, quality of service, organizational satisfaction, organizational success, and volunteer-worker relationship.
 
7
We include in this category indicators with a frequency lower than one: promotion of cultural development, existence of pension plans, promotion of research and development, definition of organization values, normative identity, knowledge update, creation of shared value, commitment to stakeholders, community development, and promotion of trust.
 
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Metadata
Title
Twenty Years of Research on the Relationship Between Economic and Social Performance: A Meta-analysis Approach
Authors
Francisco J. López-Arceiz
Ana J. Bellostas
Pilar Rivera
Publication date
08-11-2017
Publisher
Springer Netherlands
Published in
Social Indicators Research / Issue 2/2018
Print ISSN: 0303-8300
Electronic ISSN: 1573-0921
DOI
https://doi.org/10.1007/s11205-017-1791-1

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