Our study has several limitations. As the first step
toward examining the financial performance of SRI in
emerging markets, this study focuses on one of the fast
growing emerging markets − China. It would be helpful
to generalize our findings if future works can examine
other emerging markets such as Brazil, India, South
Africa, etc. Furthermore, this study only uses three years’
data. It would provide valuable insights to the research
on if future research can study the long term impact of
MNE’s CSR on product-market and keep tracked for
consecutive years. Furthermore, future research can also
consider different ways of measuring both CSR
performance and market performance of MNE’s
branches or controlling more marketing environmental
variables