Innovation and CSR Impact on Financial Performance of Selected Companies in Mexico

Abstract

This study analyzes the behavior of the companies in the index of México’s Precios y Cotizaciones (IPC), with respect to measures of financial performance and its relationship with the two main approaches of innovation, according to the Bogota and Oslo manuals; assessing their impact on the stock price. The data is used on a quarterly basis from January 2000 to December 2011. It also makes reference to the impact of having the distinction “Socially Responsible Company” (Corporate Social Responsibility), in the Mexican stock market price reaction. Our main interest is to be pioneers in the search for relationships between topics that are currently treated as “alien” (CSR and Innovation) in formal academic publications, but we intuitively know that they are related inside organizations.

Keywords: value of relevance, innovation and financial, distinctive of corporate social responsibility