How good deeds can boost your company’s stock price

peter diamond/The Globe and Mail

Paul Polman, but has doubled down on it. He inveighed against “woke-washing” and ordered up an all-brand promotional campaign. Those ads show how some of the 400 products made by the US$73-billion corporate behemoth make the planet better, with measures ranging from skinnier plastic packaging for Hellmann’s mayo to using the marketing of Ben & Jerry’s Baked Alaska ice cream to advocate against climate change.

Fresh research shines a new light on the complicated dynamic between CSR and stock performance. According to Ira Yeung, an assistant professor of accounting at UBC's Sauder School of Business, a new study he has co-authored found that investors are drawn to corporate CSR initiatives, but the bump tends to be shortterm and more pronounced when society is paying more attention to CSR, like right now.

Strategic management expert Sarah Kaplan argues in a new book, The 360° Corporation, that expecting corporate CSR to justify itself financially is asking the wrong question. “That will only take you so far,” she says. “The companies that get stuck always think of CSR as an add-on, as opposed to an essential part of the way they do business.

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