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Corporate social responsibility and corporate interlocks: Fortune 500 companies’ performance on the Sustainable Development Goals

Dasom Lee (Graduate School of Science and Technology Policy, Korea Advanced Institute of Science and Technology, Daejeon, Republic of Korea)

International Journal of Organizational Analysis

ISSN: 1934-8835

Article publication date: 5 January 2023




The role that corporations play in environmental and social sustainability has become increasingly important due to their size and embeddedness in our everyday lives. This study aims to examine the relationship between corporate social responsibility (CSR) and corporate interlocks for the Fortune 500 companies.


To collect data, various sources were used including data web scraped from US Securities and Exchange Commission, Bloomberg ESG, ASSET4, Carbon Disclosure Project and data from each companies’ websites. To measure CSR, this paper uses an original United Nations Sustainable Development Goals (SDG) index, and to measure corporate interlocks, it uses the Bonacich centrality score and has a sample of 401 companies. To account for missing data, Bayesian multiple imputation was used. For the final analysis, linear regression analysis was conducted, for which all the assumptions are met.


The findings show that for most SDGs, corporate interlocks is an important predictor, but not for all SDGs. In other words, they indicate that corporate centrality remains to be an important variable in most aspects of CSR, but a more nuanced approach is required.


This paper uses the SDGs to provide a granular perspective of CSR, which is stronger and more methodologically rigorous compared to the existing metrics of CSR. Consequently, it provides an original insight into the corporate interlocks literature, which has not been empirically researched using granular CSR data.



Disclosure statement: The authors have no financial interest in the organizations described.


Lee, D. (2023), "Corporate social responsibility and corporate interlocks: Fortune 500 companies’ performance on the Sustainable Development Goals", International Journal of Organizational Analysis, Vol. ahead-of-print No. ahead-of-print.



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