Corporate Social Responsibility and Financial Performance among Energy Sector Companies

Corporate social responsibility (CSR) is one of the main drivers corporate reputation. Many studies show that CSR can positively affect financial performance (FP) and vice versa. However, relationship between FP depends on type industry in which company operates, there little research regarding energy sector this area. The basis empirical study slack resource theory argues cause performance. This paper aims to analyze if affects adoption companies. In order achieve goal, specifically examines selected indicators adoption. Analyzing an international sample 219 companies from thirty-two countries for 2020, we observed statistically significant relations implementing strategy Return Assets measure (ROA) Earnings Before Interest Taxes (EBIT) were significantly higher among strategy. Enterprise Value earnings before interest, taxes, depreciation, amortization ratio (EV EBITDA) was lower adopted CSR. We did not confirm Equity (ROE), Beta coefficient, EBITDA per Share correlated with Our had implications firms’ investment policies initiatives highlighted relation