The empirical research has a long and rich history of investigating the relationship between financial performance (FP) and corporate social responsibility (CSR). Experts have stressed the need to ascertain whether actively promoting social and environmental good may also have a positive impact on the financial performance of the related business organization for over 40 years. If there is a financial incentive for decent corporate behaviour, the conversation should shift from the fields of moral philosophy and business ethics to modern economics. The foundation for concepts about how corporate social responsibility (CSR) can help establish and maintain trustworthy connections with an assortment of components that are essential to the business's long-term viability and financial well-being, such as staff members, clients, community members, environmental activists, and worried citizens, has been laid by the growth and development of the theory of stakeholders (Freeman, 1983; Al-Khazaleh et al., 2023), and especially its application-oriented elements (Jones, 1995). Not all scholars, meanwhile, concur that corporation’s profit monetarily from great achievements in society.

Famous economist Milton Friedman (Friedman, 2007) has previously opposed corporate social responsibility (CSR) with great voicer. He maintained that carrying out of CSR amounts to an unwarranted and essentially undemocratic tax on the stockholders, that the expenses of doing so exceed any possible advantages in the short term, and that, consequently, it is an improper use of important financial resources (Freeman, 1983, Jones, 1995). In his well-known 1970 paper, "The Social Responsibility of Business is to Increase its Profits," he presented this case.

Utilizing on these two opposing viewpoints (and any other perspective that collapses within the boundaries of what they define), scholars in the disciplines of, between others as well, managerial strategy, advertising, economics of sustainability, ethical business practices, and finance have empirically examined an extensive variety of angles about the degree to which (CSR) may contribute to clearly better firm financial performance or not. Because of the growing public interest in the notion of Corporate Social Responsibility (CSR) and the concomitant growth of the Socially Responsible Investment (SRI) business, researchers are now even more driven to investigate the supposed link between (CSR) and (FP) during the past 20 years.

The quantity and diversity of the (CSR-FP) literature contribute to its relevance. Prior researchers (Gryphon & Mahon, 1997; Faza’ et al., 2023) have noted that most empirical results are simply dissimilar to one another due to the complexity and unpredictability of the characteristics of the related corpus of research of their period. This argument has only become more compelling over time (Malik, 2015). The following research on the relationship between (CSR) and (FP): Distinctive concepts and interpretations of (CSR) and (FP). theories predicated on conceptual structures that can conflict. datasets with different attributes about the component of interest (CSR), the nature and scope of the (FP) measures used, the asset class in which the relationship is investigated, the industry, the country, and the time period under review (Badwan et al., 2023). The application of several econometric methods.

All of these problems have made it difficult to reach high level findings that may be used to provide an interested academic or practitioner with an overview of the field. This is bad since it adds to the intrinsic difficulty of the endeavour by lacking literature evaluations that seek to summarize what we know from all the research conducted in the subject and, as important, what we do not know and need to find out (Faza’ et al., 2023). The objective of this editorial paper is to present a critical and current overview of the SRI information available, as well as an introduction to the articles that will be published in the next issue of the Journal of Business Strategy Finance and Management. This is in response to the growing public interest in corporate social responsibility (CSR), the expansion of the SRI businesses, and the academic research that supports it.

The goal of this magazine is to promote these advancements. While the Middle East's new transparency framework, which included a legal need for environmental, social, and governance disclosures, had any impact on the reliability of experts' profit projections should be the subject of the first research, which ought to set up an appropriate experimentation context (Badwan & Awad, 2023). In example, reporting of environmental ESG has historically been associated with increased precision in forecasting. examining how environmental performance, market evaluations, and disclosures concerning the environment differ from one another. The presence of environmental regulations in an organization's environmental assessing makes it more valuable to shareholders than when it isn't; hence, the balancing sheet's representation of environmental regulations acts as a moderator among the business's stock price and its real environmental performance. It is discovered that, at least in the Middle East, there is a non-linear relationship between stated carbon dioxide emissions and company performance. Furthermore, clarify whether the decision to report carbon is influenced by disclosures opinions on corporate governance or social responsibility.

References

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2. Badwan, N., & Awad, A. W. (2023). “The influence of corona pandemic on stock returns of companies listed on the Palestine Stock Exchange.” Review of Accounting and Finance, 22(4), 466-488.
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3. Badwan, N., Saleh, B., & Hamdan, M. (2023). “Factors and determinants affecting banking sector stability: empirical evidence from conventional and Islamic banks listed on the Palestine stock exchange.” Journal of Financial Regulation and Compliance.
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6. Freeman, R.E. (2010). “Strategic management: Stakeholder approach.” Cambridge university press.
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7. Friedman, M. (2007). “The social responsibility of business is to increase its profits. In Corporate ethics and corporate governance” (pp. 173-178). Berlin, Heidelberg: springer berlin Heidelberg.
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8. Griffin, J. J., & Mahon, J. F. (1997). “The corporate social performance and corporate financial performance debate: Twenty-five years of incomparable research.” Business & society, 36(1), 5-31.
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9. Jones, T. M. (1995). “Instrumental stakeholder theory: A synthesis of ethics and economics.” Academy of management review, 20(2), 404-437.
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