RT Journal Article
T1 Sustainability, brand image, reputation and financial value: Manager perceptions in an emerging economy context
A1 Flores, Alfredo
A1 Cambra-Fierro, Jesús
A1 Vázquez-Carrasco, Rosario
K1 Brand image
K1 CSR
K1 Emerging economy
K1 Financial value
K1 Reputation
K1 Sustainability
AB Sustainability has become a fundamental concern in today' world—one which firms can no longer remain oblivious to. Through CSR, companies can shore up financial sustainability by acting in responsible, socially and environmentally sustainable ways. Yet the vast majority of literature addressing this phenomenon to date has focused almost exclusively on developed economies. The objective of the present study, therefore, is to contribute to filling this gap by analyzing the potential impact of CSR on sustainable financial value in the context of an emerging economy, Peru. To this end, we used the PLS technique to carry out quantitative analysis of data from a sample of over 200 managers at Peruvian companies. Our model is based on the premises of Social Capital Theory and Theory of Resources. Specifically, we analyze the extent to which CSR impacts corporate reputation, brand image and financial value in the context of an emerging economy. Our data indicate that—unlike more developed economies—in emerging economy contexts, direct relationships linking CSR and company financial value are lacking, though may occur by way of the path CSR > reputation > brand image > financial value. We also find that size moderates this path, while the sector of activity does not moderate the causal model. Hence, we suggest that both the cross-cultural component and differing degrees of economic development and market maturity affect the perceived impact of CSR on financial value. The present study is pioneering in that it analyzes the impact of sustainability on financial value from the perspective of managers in an emerging economy context.Key theoretical and practical implications of our findings are provided in the final section of the paper.
PB Wiley
YR 2020
FD 2020-02-19
LK https://hdl.handle.net/10433/22158
UL https://hdl.handle.net/10433/22158
LA en
NO Sustainable Development, 28, pp. 935–945
NO Generés research project (S09) from the European Social Fund and Gobierno de Aragón., Grant/Award Number: S09; I+D+i (ECO2017-83933-P) from the Spanish Ministry of Science and Innovation, Grant/ Award Number: ECO2017-83933-P; Gobierno de Aragón; European Social Fund; Spanish Ministry of Science and Innovation; I+D+i, Grant/Award Number: ECO2017-83933-P
NO Departamento de Organización de Empresas y Marketing. Universidad Pablo de Olavide.
DS RIO
RD May 14, 2026