CSR perception and financial performance: Evidences from Italian and UK asset management companies

Abstract

AbstractThis work fits into a stream of research dealing with the role of the Internet and social networks as effective disclosure tools. We argue that the asset management company's (AMC) self‐presentation, its product disclosure, and how it communicates in the social media can be positively associated to its performance. In this paper we have studied these relationships on 21 Italian and UK AMCs in the EUROSIF Panel by adopting an experimental study asking business ethics course university students to evaluate the AMCs' ethical commitment. Our research shows that a high corporate social performance (CSP) disclosure through Web and social media is positively associated to AMCs' economic performance. Even a high perceived coherency between AMCs' self‐presentation and ethical financial product communication can enhance AMCs' financial success. In reverse, a high perceived coherency between financial products and corporate social responsibility communication through Web and social media networks does not seem to improve AMCs' economic performance.