Corporate Social Responsibility: a Theory of the Firm Perspective
Abstract
We outline a supply and demand model of corporate social responsibility (CSR). Based on this framework, we hypothesize that a firm's level of CSR will depend on its size, level of diversification, research and development, advertising, government sales, consumer income, labor market conditions, and stage in the industry life cycle. From these hypotheses, we conclude that there is an “ideal” level of CSR, which managers can determine via cost-benefit analysis, and that there is a neutral relationship between CSR and financial performance.
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CSR satisfies all stakeholder groups, including staff.
“McWilliams and Siegel (2001) believe that CSR satisfies all stakeholder groups, including staff.”
From Corporate social responsibility influences employee engagement (2018) · cites this paper as McWilliams and Siegel (2001)
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- Authors
- McWilliams, A., & Siegel, D.
- Affiliations
- University of Illinois Chicago (US)
- University of Nottingham (GB)
- Venue
- The Academy of Management Review
- Publisher
- Academy of Management
- Published
- 2001-01
- Volume
- 26
- Issue
- 1
- Pages
- 117
- ISSN
- 0363-7425 (ISSN-L)
- OpenAlex
- W2128264241
- Cited by
- 7,567
- References
- 3
- Citations by year
- 2026: 236 · 2025: 369 · 2024: 438 · 2023: 531 · 2022: 525 · 2021: 505 · 2020: 523 · 2019: 451 · 2018: 510 · 2017: 426 · 2016: 403 · 2015: 428 · 2014: 377 · 2013: 344 · 2012: 354
- FWCI
- 92.89
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Academy of Management Review (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Corporate Social Responsibility and Sustainability
- Social Sciences › Business, Management and Accounting › Marketing › Environmental Sustainability in Business
- Keywords
- corporate social responsibility, supply and demand model, firm size, diversification, research and development, advertising, government sales, consumer income, labor market conditions, industry life cycle, cost-benefit analysis, CSR and financial performance, theory of the firm
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