A Second Look at Organizational Values and Their Impact on Corporate Governance

Author : Robert Lloyd

Abstract : Much research has been conducted on the impact of CSR efforts on firm performance. However, to date, no such study has empirically tested how corporate social values of firms engaged in CSR impact performance. This study investigated the relationship between corporate values, sustainability activities, and distinguishable results in 52 f irms within the global energy sector found on the Dow Jones Sustainability Indices between 2015 and 2020. Findings suggest that no single corporate value generated higher performance outcomes, nor did the firms out perform their localized stock market returns (p values 0.12 to 0.49). What can be concluded from these findings is that corporate values could be contributing to other elements of the organization performance (culture, norms, etc), but no evidence suggests that they contribute to improved financial performance.

Keywords : CSR, Corporate Values, Global Energy Sector, DJSI, ROI

Conference Name : International Conference on Human Resources and Corporate Governance - (ICHRCOG-26)

Conference Place : Munich, Germany

Conference Date : 12th Jan 2026