Abstract
Purpose- This paper aims to analyze the relationship between firms’ corporate social responsibility (CSR) practices and economic performance. Additionally, this research explores the role of strategic flexibility (SF) which is the ability of a firm to adapt to changes in the external environment and make necessary organizational modifications quickly to direct its resources for a CSR activity, in this relationship. Methodology- The paper empirically investigates the CSR practices together with SF and their effects on firm performance with a study of 179 firms in Turkey using moderated multiple regression methods. Findings- The results show that CSR practices are significantly associated with firm performance, indicating that a higher amount of CSR may improve financial performance. Conclusion- Finally it was found SF plays a positive moderating role on the relationships between the CSR practices and firm performance. It is concluded that firms with higher skills of SF may obtain better economic performance from their CSR activities.
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