Corporate social responsibility in housing management : is it profitable?

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Corporate social responsibility in housing management : is it profitable?

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Publication Article, peer reviewed scientific
Title Corporate social responsibility in housing management : is it profitable?
Author(s) Blomé, Gunnar
Date 2012
English abstract
Purpose – The purpose of this paper is to evaluate corporate social responsibility (CSR) in the context of real estate management. Different operation cost indicators are identified and related to the estates’ social condition. Design/methodology/approach – The empirical material was collected from the company's accounts and by interviews with the staff and is based on a comparison between two similar areas that mainly differed in how much resources the company invested in social projects and maintenance. Findings – The results indicate that CSR leads to approximately 4.5 percent lower annual operating and maintenance costs, which improved the company's profitability, especially if higher maintenance standards made higher rents possible. Other advantages were improved goodwill, which led to new business opportunities. Research limitation/implications – The primary issue of the study is to identify consequences of CSR. However, more research is needed about landlord incentives and economic effects of initiated landlord investments. The evaluation method also needs to be further developed and refined. Originality/value – From a practical perspective, the paper gives a deeper insight into the possible economic advantages of CSR. From the perspective of the scientific community, the paper shows the possibilities in using a comparative evaluation model together with detailed company data in order to identify important indicators and effects.
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Publisher Emerald Group Publishing Limited
Host/Issue Property Management;4
Volume 30
ISSN 0263-7472
Pages 351-361
Language eng (iso)
Subject(s) business policy
company policy
corporate social responsibility
economic valuation
property management
Humanities/Social Sciences
Research Subject Categories::SOCIAL SCIENCES
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