LAPSE:2023.33104
Published Article
LAPSE:2023.33104
Does CSR Affect the Profitability and Valuation of Energy Companies? An Example from Poland
April 20, 2023
The article refers to the issues of financial profitability of undertaking CSR activities, which is widely reported in literature. The four largest electricity producing companies in Poland were selected for the analysis. The research period covers the years 2009−2019, when the index of socially responsible companies was operating on the Warsaw Stock Exchange. The main purpose of the article is to compare the profitability ratios and quotations of energy companies in Poland declaring themselves socially responsible with companies of the same sector that have not expressed such a declaration. The results obtained on the basis of descriptive statistics, concerning profitability ratios and stock market quotations, indicate no relationship between their level and stability and the companies’ declarations of compliance with social responsibility. Companies declaring themselves socially responsible were placed in the ranking between the results of companies that did not belong to the indicated index. This may be the result of the specific situation of energy companies in Poland.
Keywords
corporate finance in the energy sector, Corporate Social Responsibility, energy companies
Subject
Suggested Citation
Zieliński M, Jonek-Kowalska I. Does CSR Affect the Profitability and Valuation of Energy Companies? An Example from Poland. (2023). LAPSE:2023.33104
Author Affiliations
Zieliński M: Faculty of Economics and Management, Opole University of Technology, 45-758 Opole, Poland [ORCID]
Jonek-Kowalska I: Faculty of Organization and Management, The Silesian University of Technology, 44-100 Gliwice, Poland [ORCID]
Journal Name
Energies
Volume
14
Issue
12
First Page
3668
Year
2021
Publication Date
2021-06-20
Published Version
ISSN
1996-1073
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Original Submission
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PII: en14123668, Publication Type: Journal Article
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LAPSE:2023.33104
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doi:10.3390/en14123668
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Apr 20, 2023
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