Article | Harvard Business Review | January 2008

Do Well by Doing Good? Don't Count on It

by Joshua D. Margolis, Hillary Anger Elfenbein and James P. Walsh


Research over 35 years shows only a weak link between socially responsible corporate behavior and good financial performance. However, there's no evidence of risk in doing good, only in being exposed for misdeeds.

Keywords: Values and Beliefs; Profit; Corporate Social Responsibility and Impact; Performance Effectiveness; Behavior;


Margolis, Joshua D., Hillary Anger Elfenbein, and James P. Walsh. "Do Well by Doing Good? Don't Count on It." Social Responsibility. Special Issue on HBS Centennial. Harvard Business Review 86, no. 1 (January 2008): 19.