CSR and firm profitability: Evidence from a meta‐regression analysis

We analyze the literature on relationship between corporate social performance (CSP) and financial (CFP) by applying meta-regression analysis (MRA) to 7800 results of 512 empirical studies. Our findings reveal a small positive link CSP CFP as well presence publication bias that favors statistically significant CSP–CFP regression coefficients. also evaluate impact underlying research design heterogeneity in published effects using Bayesian frequentist model-averaging (FMA). consider 42 contextual characteristics our show reported are smaller cases where binary index is used measure or when dependent variable. In contrast, firms industrial sectors operating China rather than United States exhibit stronger effects. Finally, effect driven choice econometric estimator inclusion firm size control