Corporate performance patterns of Canadian listed firms: Balancing financial and corporate social responsibility outcomes
基于利益相关者理论，对加拿大771个公司年样本进行聚类分析，发现三种绩效模式：财务优先型、平衡型和CSR优先型，其中平衡型绩效虽可持续性高但占比最小。
Abstract Based on stakeholder theory and considering the conflicting performance interests of a wide range of stakeholders, this research investigates corporate performance patterns using a cluster analysis of financial, social, and environmental performance dimensions. An analysis of a Canadian sample of 771 company‐year observations for the period 2014–2018 reveals three types of corporate performance: financially focused performance, balanced performance, and corporate social responsibility (CSR)‐focused performance. Firms in the largest cluster, financially focused performance, deliver poor sustainable performance and prioritize financial performance over social and environmental performance. The CSR‐focused performance cluster scores low for financial performance and high for environmental and social performance. The balanced‐performance cluster also has higher levels of sustainable performance but is the smallest cluster, accounting for a quarter of the sample. Overall, this study presents a portrait of corporate performance balancing financial and CSR objectives and the evolution of this activity over the research period.