Abstract: Modern times call organizations to have an active role
in the social arena, through Corporate Social Responsibility (CSR).
The objective of this research was to test the hypothesis that there is a
positive relation between social performance and economic
performance, and if there is a positive correlation between social
performance and financial-economic performance. To test these
theories a measure of social performance, based on the Green Book
of Commission of the European Community, was used in a group of
nineteen Portuguese top companies, listed on the PSI 20 index,
through a period of five years, since 2005 to 2009. A clusters
analysis was applied to group companies by their social performance
and to compare and correlate their economic performance. Results
indicate that companies that had a better social performance are not
the ones who had a better economic performance, and suggest that
the middle path might provide a good relation CSR-Economic
performance, as a basis to a sustainable development.