To determine whether the strategic commitment of the company to its stakeholders is positively related to its social and financial performance.
This paper analyses the mission statements and the sustainability reports, of a sample of 52 Spanish listed firms (70 per cent Madrid stock index capitalization). The vision, mission and values of the company will define its strategic stakeholder or shareholder orientation. In the process of evaluation of the social performance of the firm it is built a scale (strategic consistency index (SCI)) which considers the quality of the sustainability reporting using the GRI Guidelines. Some traditional financial and economic indicators are used to analyse the company's financial performance.
Results show a not very high level of the stakeholder approach in Spanish companies, a high level of publication and quality of sustainability reports and, finally, a positive and not significant relationship between these variables and a positive financial performance.
The unavailability of a long series of sustainability reports is an obstacle for a broader analysis. This research could transmit to companies the positive relationship between social and financial performance.
The use of GRI sustainability reports as a component of a broader corporate sustainability index and the analysis of the strategic commitment to their stakeholders through the construction of a SCI and the relationship with their financial results.
