Abstract
This study examines how an entrepreneurial orientation moderates the effect of corporate social responsibility (CSR) on family firm performance. Analysis of 174 family firms was conducted using second-generation, partial least squares structural equation modeling (PLS-SEM) in SmartPLS 3.2.6. A survey of family firms and compliant sustainability reports, made under the rules of the GRI (Global Reporting Initiative) for these firms yielded the empirical data. This study contributes to the literature in several ways. First, the analysis shows that GRI reports offer a suitable way for analyzing CSR because the proposed measures are reliable and valid. Second, CSR actions by family firms exert a substantial positive influence on these firms’ performance. Third, entrepreneurial orientation is a good predictor of the success of family firms, positively influencing their performance. Fourth, entrepreneurial orientation positively moderates the effect of CSR on family firm performance, enhancing this effect.
Highlights
Corporate social responsibility (CSR) and entrepreneurial orientation have been the focus of numerous studies in the business literature
Consistent with findings from previous studies for larger and smaller firms [2,22,128,129,130], our results imply that family firms that engage in corporate social responsibility (CSR) activities improve their performance
This improvement in performance is substantial because CSR is capable of explaining 65.8% of the variance in the performance of family firms
Summary
Corporate social responsibility (CSR) and entrepreneurial orientation have been the focus of numerous studies in the business literature. CSR is a potential source of competitive advantage [18] that positively influences firms’ performance [19,20,21,22], certain business behaviors may act as moderators in this relationship. We analyzed the way entrepreneurial orientation moderates the effect of CSR on business performance. Most of the studies try to analyze how the responsible behavior of the family companies improves their competitive position [57].
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