CORPORATE SOCIAL RESPONSIBILITY AND PROFITABILITY OF COMPANIES: THE MODERATING ROLE CONCEPT OF COMPANY REPUTATION AND ACCESS TO CAPITAL
Abstract
The purpose of the article is to study the impact of corporate social responsibility on the financial indicators of companies using access to capital and the reputation of the firm as intermediary indicators. The study outlines the component concepts of the mechanism by which CSR leads to financial performance of firms: companies with developed CSR practices tend to have better opportunities to achieve a better reputation, which translates into improved financial performance, and companies can reduce capital limitations, participating in CSR activities. As a result, the findings recommend that companies strengthen their reputation and expand access to capital, which will ultimately lead to improved financial performance, so that corporate social responsibility becomes a core part of their operations.
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