Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 548873
Title The value of being socially responsible : A primal-dual approach
Author(s) Puggioni, Daniela; Stefanou, Spiro E.
Source European Journal of Operational Research 276 (2019)3. - ISSN 0377-2217 - p. 1090 - 1103.
DOI https://doi.org/10.1016/j.ejor.2019.01.065
Department(s) WASS
Business Economics
Publication type Refereed Article in a scientific journal
Publication year 2019
Keyword(s) Corporate social responsibility - Data envelopment analysis - Decision processes - Productivity and competitiveness - Shadow values
Abstract

This study attempts to formalize and explain the process through which Corporate Social Responsibility (CSR) is created incorporating it into a production model as one of the outputs comprising the technology. Our framework allows for analyzing technical efficiency and deriving a system of internal shadow prices to quantify the overall value as well as the marginal impact of implementing socially responsible activities. The empirical application focuses on the food and beverage manufacturing sector where we encounter high levels of technical efficiency among the firms included in the analysis. Our findings also document a positive average shadow price of CSR activities, implying that the net value of implementing these activities is positive as their benefit exceeds the cost. Regarding the value at the margin, we show that increasing the socially responsible commitment positively contributes to the creation of firm value. Conversely, reducing the CSR engagement has a negative marginal impact, indicating that firms perceive lower levels of CSR as very costly and damaging.

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