Press Event: Study Shows ‘Corporate Social Responsibility’ May Hurt Bottom Line
Washington, D.C., Jan. 13, 2005 – “Corporate social responsibility” has become a trendy international business philosophy, hailed as good for business and the bottom line. But a forthcoming study finds no benefit for companies that have adopted the CSR model and, in some cases, may have led to decreased profitability.
The study was conducted by renowned economists, including Arthur Laffer, the father of supply-side economics. The study examined the economic performance of 28 companies considered most socially responsible by Business Ethics magazine from 2000-2004 and found no significant positive correlation between CSR and business profitability.
** EVENT INFO **
WHAT: A roundtable discussion in New York City, sponsored by the Competitive Enterprise Institute and CSR Watch, will feature Dr. Laffer and CEI President Fred Smith, who will outline the paper’s findings and offer their perspectives on how this will affect business.
WHEN: Tuesday, January 18, 2005 at 4 p.m. ET
WHERE: Journalists may join a live audio Web cast by clicking here.