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Pinheiro, C. M. & Silva, P. (2023). Corporate social responsibility and technical efficiency: A stochastic frontier approach. In António Ramos Pires, Margarida Saraiva (Ed.), Livro de atas do XIII Encontro da RIQUAL - Rede de Investigadores da Qualidade 2023. (pp. 94-112).:  RIQUAL - Rede de Investigadores da Qualidade.

C. M. Pinheiro and P. P. Silva,  "Corporate social responsibility and technical efficiency: A stochastic frontier approach", in Livro de atas do XIII Encontro da RIQUAL - Rede de Investigadores da Qualidade 2023, António Ramos Pires, Margarida Saraiva, Ed.,  RIQUAL - Rede de Investigadores da Qualidade, 2023, pp. 94-112

@inproceedings{pinheiro2023_1783959779052,
	author = "Pinheiro, C. M. and Silva, P.",
	title = "Corporate social responsibility and technical efficiency: A stochastic frontier approach",
	booktitle = "Livro de atas do XIII Encontro da RIQUAL - Rede de Investigadores da Qualidade 2023",
	year = "2023",
	editor = "António Ramos Pires, Margarida Saraiva",
	volume = "",
	number = "",
	series = "",
	pages = "94-112",
	publisher = " RIQUAL - Rede de Investigadores da Qualidade",
	address = "",
	organization = "",
	url = "https://publicacoes.riqual.org/wp-content/uploads/2023/12/troia_xiii_94_112.pdf"
}

TY  - CPAPER
TI  - Corporate social responsibility and technical efficiency: A stochastic frontier approach
T2  - Livro de atas do XIII Encontro da RIQUAL - Rede de Investigadores da Qualidade 2023
AU  - Pinheiro, C. M.
AU  - Silva, P.
PY  - 2023
SP  - 94-112
SN  - 2183-1408
UR  - https://publicacoes.riqual.org/wp-content/uploads/2023/12/troia_xiii_94_112.pdf
AB  - Sustainability has become the new normal for value creation in the long haul, and
is on the top of board agendas. We assess the relationship between the social pillar
of ESG and a firm’s output gap justified by systematic inefficiency. To do so we
apply a stochastic frontier model to a large sample of U.S. listed firms, spanning
2005 to 2019. Focusing on measures of companies’ management commitment and
effectiveness towards catering closely to their workforce job conditions and wellbeing, we document an economically sizable and statistically significant positive
association between technical efficiency and social responsibility performance.
Employee-oriented CSR practices appear to be relevant aspects in explaining the
association of socially responsible practices with technical efficiency. Firm
inefficiency is explained by firm specific factors and is a decreasing (increasing)
function of size and external monitoring (leverage, blockholdings and foreign
sales). It is mitigated by CSR practices and external governance mechanisms, as
well as market surveillance. The association between CSR and technical efficiency
is non-linear and varies across industry sectors. Our results should interest
managers and stakeholders in general. 
ER  -