AMTP Proceedings 2026

Document Type

Conference Proceeding

Publication Date

Spring 2026

Abstract

This study examines the evolving landscape of Corporate Social Responsibility (CSR) within the European Union (EU) and the dynamics of the consumer–brand relationship (CBR), proposing an integrated theoretical framework for investor analysis. The EU's regulatory trajectory, marked by the transition from the Non-financial Reporting Directive (NFRD) to the Corporate Sustainability Reporting Directive (CSRD) and the introduction of the Corporate Sustainability Due Diligence Directive (CSDDD) alongside European Sustainability Reporting Standards (ESRS), signifies a paradigm shift towards mandatory, standardized, and audited sustainability disclosures. Concurrently, the strength of CBR, built on dimensions such as trust, self-connection, and commitment, profoundly influences consumer behavior, brand equity, and, ultimately, firm value. Investors are increasingly scrutinizing the non-financial factors. However, a comprehensive model that systematically links EU-specific CSR disclosure with CBR strength for valuation purposes remains underdeveloped. This study addresses this gap by critically reviewing CSR in the EU and CBR theories. It then proposes the "CSR-CBR Value Relationship," an integrated framework designed to enable investors to assess how a company's verifiable CSR performance and the robustness of its consumer-brand relationships impact financial performance, risk profiles, and long-term value creation. The framework emphasizes that CBR acts as a critical mediator and validator of CSR's contribution to investor-relevant outcomes in an era of heightened transparency. Implications for investors, companies operating in the EU, and policymakers are discussed, along with the limitations and avenues for future empirical research.

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