Corporate social responsibility (CSR) theory emphasizes both CSR characteristics in products and CSR activities to enhance relationships with buyers. However, there are theoretical gaps regarding the factors that influence firms' CSR strategy choices in a competitive setting. This study develops a biform game model to study the trade-off between product-oriented strategies and relationship-oriented CSR strategies. The model demonstrates that factors such as information asymmetry, product value, market segment size, transaction costs, bargaining power, and other market conditions significantly influence firms' CSR strategies. It identifies conditions under which strategic heterogeneity, strategic homogeneity, and a parameter space with multiple strategic heterogeneity equilibria can exist. When the value derived from product- and relationship-oriented strategies is significantly high, firms tend to adopt these respective strategies. In a low information asymmetry context, firms with lower bargaining power are more likely to choose a relationship-oriented strategy, whereas in a high information asymmetry context, these firms are inclined to adopt a product-oriented strategy. Regardless of the level of information asymmetry, firms with larger market scales tend to favor a product-oriented strategy. Additionally, the model integrates the synergy between business strategy and CSR strategy, which further shapes the trade-offs firms encounter in their CSR strategy choices. This study offers new insights into CSR strategy choices and the resulting market outcomes in competitive environments.

Corporate Social Responsibility (CSR) has become a mandatory and strategic element of corporate governance in India following the enactment of the Companies Act, 2013. This study examines the influence of the nature of business on CSR spending and compliance among selected companies in Karnataka. A comparative case study approach is adopted by selecting Infosys Limited (IT services), Mangalore Refinery and Petrochemicals Limited (manufacturing), and Karnataka Power Transmission Corporation Limited (energy sector). The study relies on secondary data sourced from the National CSR Data Portal (csr.gov.in) maintained by the Ministry of Corporate Affairs, covering the period from 2019–20 to 2023–24. The analysis focuses on prescribed and actual CSR expenditure, compliance ratios, and sector-wise CSR spending trends. The findings reveal notable sectoral variations: Infosys demonstrates consistently high CSR spending with marginal unspent balances, KPTCL exhibits stable and near-complete compliance, while MRPL shows greater variability in CSR spending influenced by fluctuations in profitability. The study concludes that the nature of business significantly influences CSR expenditure patterns and compliance behavior, providing valuable insights for policymakers, corporate managers, and future researchers.

ABSTRACT Academic Summary Corporate social responsibility (CSR) is a key strategy to achieving (e.g., environmental) sustainability. While many studies report a positive effect of CSR on firm value, growing evidence suggests practice often fails to unlock such effect. This equivocality may arise from conflicting theoretical perspectives, insufficient consideration of granular CSR activities, and/or neglecting the role of new product development (NPD). We address this equivocality through a theoretically unprejudiced exploration of the effects of a comprehensive set of CSR activities on firm value and by investigating the underexplored moderating role of NPD alongside that of marketing moderators. Econometric analysis of 3,107 firms across industries unveils that the largely overlooked CSR activities addressing social concern avoidance (e.g., by protecting stakeholders from environmental hazards) account for the greatest number of significant effects on firm value. Second, all significant effects of CSR activities on firm value are negative. Third, while all significant interaction effects of CSR activities and NPD on firm value are positive, most interactions with marketing instruments are negative. Overall, the findings highlight the critical role of NPD in potentially unlocking a positive effect of CSR on firm value. Even more so, they suggest treating CSR and firm value as separate strategic goals—akin to sustainability's people, planet, and profit objectives. Managerial Summary While many firms invest in corporate social responsibility (CSR) initiatives not only to advance sustainability but also to drive firm value, this research shows that only a subset of CSR activities has a significant effect on firm value and that these effects are predominantly negative. Many of the CSR activities with significant effects relate to avoiding social or environmental harm, but their impact varies markedly across stakeholders, rendering aggregate CSR strategies misleading for managerial decision‐making. Further, whether CSR activities undermine or support firm value depends critically on how they are implemented. For innovation and R&D managers, the findings suggest that CSR activities are most effective when embedded in new product development. For marketing managers, the findings urge caution, as heavy reliance on branding and other marketing tools to advance the firm's CSR objectives can amplify negative effects on firm value. For senior executives, the results suggest a need to treat CSR and firm value as distinct strategic goals and carefully balancing specific CSR activities rather than assuming uniform financial payoffs. For policy makers and regulators, the findings indicate that markets may penalize sustainability efforts, at least in the short term, underscoring the need for targeted regulatory support and incentives.

Corporate Social Responsibility (CSR) has emerged as a statutory and ethical instrument for promoting inclusive development in India. The Companies Act, 2013 mandates eligible firms to allocate CSR funds toward socially relevant areas, including education and skill development. This study examines CSR investment patterns, compliance behaviour, and governance quality of top National Stock Exchange (NSE) listed companies selected on the basis of market capitalisation. Using secondary data from annual and sustainability reports of ten leading firms over the period 2020–21 to 2024–25, the study analyses mandated CSR, actual CSR expenditure, allocation toward skill development, and CSR compliance scores. “The findings reveal that most firms not only comply with statutory requirements but also engage in voluntary CSR overspending, reflecting ethical responsibility aligned with the Dharmic principle of duty. The study highlights the role of governance quality in strengthening CSR compliance and skill development initiatives.

This study aims to describe how MSME owners understand the concept of corporate social responsibility (CSR) and how this understanding relates to their practices. To explore the meaning, experiences, and interpretations of CSR by business actors, this study employs a phenomenological approach and an interpretive paradigm as a lens for addressing the research problem. This approach was chosen because it enables researchers to gain an in-depth understanding of the subjective experiences of MSME owners, including the values, beliefs, and considerations that shape their actions. The findings reveal that MSME owners' understanding of CSR is generally confined to informal social relationships, such as assisting neighbors, contributing to community activities, or maintaining good relations with the surrounding environment. CSR is not yet perceived as part of a structured business strategy nor as an ongoing responsibility inherent to business operations. Moreover, resource constraints including limitations in time, labor, and financial capacity emerge as key factors restricting CSR implementation at the MSME level. Business owners tend to prioritize the continuity of daily operations, leading them to view CSR activities as additional efforts undertaken only when circumstances allow.

Corporate Social Responsibility (CSR) has become an essential part of modern business strategy, especially in industries that have a significant impact on society and the environment. The automobile sector is one such industry, as it plays a major role in economic development. In India, the importance of CSR increased significantly after the implementation of the Companies Act, 2013, which made it mandatory for qualified companies to spend at least 2% of their average net profits on CSR activities. The present study aims is to analyse the impact of CSR on the financial performance of selected two-wheeler companies in India for the study time period from 2019 to 2024. It examines whether companies that invest more in CSR activities shows a better financial result and employed financial ratios such as Net Profit Ratio (N.P), Return on Equity (ROE), Return on Assets (ROA) and Return on Capital Employed (ROCE). Understanding this relationship is valuable for managers, policymakers, investors and society. The present study concluded that coefficient of N.P was positive but weak and statistically insignificant which indicates that CSR spending does not improve short-term profit. Similarly, Return on Capital Employed (ROCE) and Return on Equity (ROE) shows that no significant impact of CSR activities on company performance. The R-square values were very low across all models, pointing to minimum explanatory power of CSR in predicting financial outcomes. The correlation results also reveals that CSR spending does not create noticeable short-term financial benefits. However, profitability ratios like ROE, ROCE, and ROA were strongly related with each other which shows a consistent internal financial patterns of the two-wheeler companies. Overall, the study suggests that CSR expenditure does not act as a short-term financial performance driver. The results imply that CSR may provide long-term non-financial advantages such as goodwill, reputation, stakeholder trust and ethical positioning, rather than immediate profit or return benefits.

This study examines corporate social responsibility (CSR) performance among listed family and nonfamily firms in China. Family firms consistently achieve higher CSR scores, with stronger performance observed when led by highly educated, female, or older CEOs, or those with higher compensation. Additionally, family firms in noncoastal regions with strong government-market relations and political stability are more likely to outperform in CSR activities. These firms emphasize charitable contributions, employee welfare, conservative financial strategies, and reputational capital, underscoring their commitment to long-term value creation and highlighting the unique role of family ownership in shaping responsible business practices in emerging markets.

This study examines how previous-year business strategy shapes firms' corporate social responsibility performance in an emerging market such as Indonesia. Building on the RBV, we argue that a strategic orientation in the prior period configures resources and capabilities that materialise in CSR activities, disclosures, and scores. Using data from Indonesian firms listed on the Indonesia Stock Exchange from 2018 to 2023, business strategy is classified according to the Miles and Snow (1978) typology and operationalised using Bentley et al.'s (2013) six-ratio measure, collapsed into an analyser–defender dummy, and lagged by 1 period. CSR performance is captured using a GRI-based disclosure score. Baseline regressions show that lagged business strategy is positively associated with CSR performance, and this relationship remains robust when year fixed effects are included. However, it weakens once sector fixed effects are introduced. A split-sample analysis shows that the effect of lagged business strategy is strong and significant only for non–Scope 1 disclosers and largely vanishes for Scope 1 disclosers, where external pressures are higher. Overall, the findings suggest that prior-year business strategy functions as an important upstream driver of CSR. Still, its impact is contingent on institutional and disclosure environments, particularly the degree of carbon transparency.

The proliferation of social media has transformed the fulfillment of corporate social responsibility (CSR) from traditional offline activities to emerging online methods, ushering in the era of Virtual CSR activities. This study focuses on the crucial issue of enhancing consumer engagement in Virtual CSR initiatives. Drawing upon the Theory of Planned Behavior and Perceived Risk Theory, this study empirically analyzes the factors influencing consumers’ willingness and behavior to participate in Virtual CSR activities through questionnaire surveys. Our findings reveal that behavioral attitudes, perceived behavioral control, and external scenarios positively impact consumer willingness to participate, which in turn significantly promotes participation behavior. Furthermore, willingness to participate serves as a mediator between these factors and actual participation behavior. Based on these insights, we propose practical recommendations for enterprises to optimize their Virtual CSR strategies.

Corporate social responsibility is a process in which all businesses band together and contributes to society's well- being and it's generally made up of two words i.e. ethics and responsibility in which ethics is always at the heart of CSR which means fastening on compensating society and other stakeholders who are directly concerned about society's quality of life and on the other side" responsibility" suggests that businesses have a duty to the communities in which they operate to address social issues and give further than simply fiscal services. Section 135 of the Companies Act, 2013 mandates that eligible Indian companies, including those in Tamil Nadu, devote two percent of their average net profits to particular social welfare projects as part of their Corporate Social Responsibility (CSR) obligations. CSR initiatives face a number of obstacles that may lessen their efficacy, despite the fact that they have gained popularity due to their capacity to improve corporate image and bring about positive social change. Even though Tamil Nadu has one of the highest levels of funding for corporate social responsibility (CSR), the execution of these programs still encounters challenges that impede the advancement of sustainable development. This paper's primary objective is to investigate the challenges Tamil Nadu businesses encounter when putting CSR initiatives into practice, with an emphasis on the discrepancy between the necessary expenditures and the real socioeconomic gains made. The study draws attention to issues like making sure businesses, the government, and civil society organizations work together.

Purpose This study aims to examine the institutionalization of corporate social responsibility (CSR) in the United Arab Emirates (UAE) by adapting Carroll’s (1991) four-part framework to the country’s unique legal, cultural, religious and economic context. Drawing on legal origins theory and institutional theory, the paper reconfigures Carroll’s model by merging the ethical and philanthropic tiers and introducing a distinct cultural dimension grounded in Islamic values such as Zakat, Waqf and Sadaqah. The analysis centers on Federal Law No. 2 of 2015 and Article 242 of the UAE Commercial Law, which mandate CSR disclosure and encourage firms to allocate a portion of net profits to community service. Design/methodology/approach Beyond this conceptual adaptation, the study empirically investigates the relationship between CSR engagement and firm performance using a panel dataset of listed UAE firms from 2020 to 2024. Findings Fixed-effects regression analysis reveals that CSR activities are positively associated with financial performance, measured by return on assets and Tobin’s Q, with results robust to alternative specifications and lagged structures. The findings suggest that the UAE’s hybrid “Hard–Soft” CSR model not only enhances compliance but also promotes value creation. Originality/value This paper contributes to global CSR discourse literature by illustrating how legal–cultural congruence can strengthen the developmental impact of CSR legislation in non-Western settings.

Purpose This study investigates how firms navigate conflicting stakeholder responsibilities during crises. Leveraging the unique context of the COVID-19 pandemic and drawing on signaling theory, it examines how anti-COVID-19 philanthropy (external CSR) and internal CSR (prioritizing employees) jointly influence firm performance. Design/methodology/approach The paper employs a dual-method design, using secondary data from 918 Chinese listed firms' CSR reports, financial databases and survey data from 232 middle managers. Heckman's two-stage model was applied to address potential sample selection bias in the archival study. Findings The results confirm that anti-COVID-19 philanthropy enhances firm performance. For internal CSR, the findings are nuanced: while preserving jobs (employee number growth) boosts performance and amplifies the benefits of philanthropy, an increase in the executive-employee pay gap (a weak internal CSR signal) weakens this positive effect. Sustaining pay levels alone does not show a significant positive impact. Originality/value This study extends signaling theory by revealing a reversed signaling mechanism under crisis conditions, where certain internal CSR actions (like pay growth) can be perceived negatively. In addition, it provides a more nuanced understanding of the internal-external CSR interaction by demonstrating that their joint effect depends on the specific moral prioritization during a crisis.

Purpose It is commonly recognized that the application of corporate social responsibility (CSR) can improve public perceptions of businesses. This paper aims to explore the influencing mechanism of CSR and brand attitude with a mediating effect from brand image and moderating effects from publicity intensity and consumer skepticism. Design/methodology/approach The data were collected via a survey administered in China, which yielded 526 valid responses from 568 respondents. Hierarchical regression was performed to verify the hypotheses. Findings This study suggests that CSR not only strengthens a brand's image but also optimizes consumers' attitudes toward the brand. While suitable intensity of CSR publicity can amplify the impact of CSR activities, excessive publicity diminishes the beneficial effect of CSR on company image. Moreover, when the triple interaction between CSR, publicity intensity and consumer skepticism was examined, it was found that existing consumer skepticism strengthens the negative effect of excessive publicity intensity. Practical implications Some useful suggestions have been put forth to help companies develop impactful CSR promotion strategies, reduce consumer skepticism, create a good brand image, improve brand attitude and achieve sustainable development. Originality/value This paper investigates the influencing mechanism of CSR on brand attitude, analyzes the mediating role of brand image and the moderating role of publicity intensity and consumer skepticism and verifies the triple interaction effect of publicity intensity, consumer skepticism and CSR. This paper expands the research on publicity intensity and skepticism in CSR. It also enriches past research achievements and further expands the CSR research path.

Purpose The aim of this research is to assess the level of online disclosure of corporate social responsibility (CSR) and to identify the factors which positively influence it. Design/methodology/approach From the perspective of legitimacy theory, CSR practices are an essential tool employed by companies to maintain their social support. By applying a configurational approach (fsQCA analysis), complex combinations of organisational factors that favour their disclosure are identified. This study focuses on a sector that has been little studied in this field, namely the agri-food sector. Findings The fieldwork results show the low level of online dissemination of CSR practices among the companies analysed. However, certain combinations of factors related to online market orientation (packaged wine, online shop and social networks) and organisational characteristics (board size and gender diversity) positively influence the greater disclosure of sustainability information. Research limitations/implications This study has focused on a single product and geographical area, Spain, although it is relevant at national and international levels. External factors (e.g. legislation) could have been considered as conditioning factors for the level of online dissemination of CSR. Originality/value CSR diffusion is a multifaceted phenomenon influenced by organisational and technological factors, among others. Therefore, a configurational approach (fsQCA method) is provided, which allows exploring complex interactions between variables and provides an innovative perspective in a sector such as the agri-food sector, traditionally less digitalised and particularly sensitive to CSR actions.

Sustainable development has emerged as a strategic agenda for state-owned enterprises, prompting the alignment of Corporate Social Responsibility (CSR) initiatives with the Sustainable Development Goals (SDGs). In practice, however, the linkage between CSR activities and SDGs indicators is often presented descriptively and lacks systematic assessment. This study examines the implementation of CSR programs and evaluates their relevance to the SDGs at PT Kereta Api Indonesia (Persero) Divre III Palembang, hereafter referred to as PT KAI. Employing a qualitative descriptive design, data were obtained through interviews, field observations, and document analysis, and subsequently examined using the interactive analytical framework of Miles and Huberman. The results demonstrate that PT KAI has implemented CSR initiatives in a structured manner across social, economic, and environmental dimensions. Social programs enhance community welfare and educational access, economic initiatives support local economic empowerment, while environmental activities emphasize conservation efforts and the maintenance of cleanliness within operational areas. Furthermore, the findings indicate alignment with several SDGs, particularly SDG 1, SDG 4, SDG 8, SDG 11, and SDG 13. Nonetheless, the association between CSR programs and specific SDGs indicators has not been systematically formulated. Overall, the study concludes that although CSR implementation has produced tangible benefits, stronger strategic planning and impact-based evaluation are necessary to optimize its contribution to sustainable development.

Corporate governance and corporate social responsibility (CSR) are two important essentials of rece nt business practices that have gained major concentration in current years. The association between these two concepts has turned into more and more significant as firms face growing pressure from stakeholders to not only achieve efficiently but also to act in a communally accountable way. The purpose of this research topic is to explore this study is to examine the Corporate Governance and corporate social responsibility disclosure in listed companies in Sri Lanka. The determine factors are CEO duality, board size, gender diversity, board independent. The CSR disclosure variables are economic, social and environmental using content analysis method. Researcher looked at data from 80 companies in different industries between the period from 2019 to 2023 was selected to capture recent and relevant trends in corporate governance and CSR disclosure practices among listed companies in Sri Lanka. Importantly, it also encompasses the COVID-19 pandemic and the subsequent recovery period, during which firms faced heightened scrutiny regarding social, environmental, and economic responsibilities. In this analysis board size and board independent are positively associated with the level of CSR disclosure, indicating that larger companies tend to disclose more information about their CSR activities. Secondly, board independent has a significant positive impact on CSR disclosure.

Corporate Social Responsibility (CSR), which in most countries is merely a social obligation, has gained legal recognition and compulsion in India for certain companies as prescribed in the Companies Act, 2013. Section 135 mandates eligible companies to allocate at least 2% of their average net profits towards CSR activities along with prescribing measures to be taken and provisions to be made to facilitate this allocation and transfer of funds. However, significant challenges persist in the CSR framework. Through this research, we try to understand and analyze the existing statutes, laws, guidelines and other legal frameworks that govern allocation and distribution of CSR funds. We try to explore several loopholes, fallacies and shortcomings in the present laws. To further understand the extent of the implications of these loopholes on sectors of spending in detail, the slum development sector is taken as a case study. Data such as change in the amount of yearly spendings on slum development, change in these spendings in accordance to geographical locations etc. is taken into consideration in order to try and understand behavioral patterns observed in companies while allocating funds to CSR sectors. This paper examines potential solutions to mitigate the existing gaps within India’s legal framework. These solutions involve policies and regulations that complement the current framework, enabling the resolution of these gaps without necessitating a complete overhaul of the system. In conclusion, this research aims to provide a holistic understanding of the CSR framework in India, highlighting the challenges and inconsistencies that hinder its effective implementation. By examining the nuances of statutory requirements and behavioral patterns in CSR spending, particularly in the context of slum development, this paper seeks to propose actionable solutions that align with the existing legal structure. These recommendations are designed to enhance accountability, transparency, and impact in CSR initiatives, contributing to a more equitable and sustainable approach to corporate social responsibility in India.

ABSTRACT In recent years, brands have increasingly leveraged social media to communicate corporate social responsibility (CSR) activities, taking advantage of its broad reach and ability to foster consumer interaction. However, how the content of CSR messages—whether the brand engages in tangible actions or simply raises awareness through informational content—affects consumers' willingness to share such messages on social media remains underexplored, particularly in the context of brand–cause fit (i.e., how well the brand and the cause are perceived to align) and consumer attributions (i.e., whether the brand's motives are seen as positive—specifically, values‐driven and strategic). This study employed a 2 (CSR message type: informational vs. action‐oriented) × 2 (brand–cause fit: low vs. high) factorial design. Across two studies ( N = 390; Study 1: N = 193; Study 2: N = 197), results indicate that action‐oriented messages generate more favorable brand attitudes and greater sharing intentions in low‐fit scenarios, whereas informational messages are more effective in high‐fit contexts. Furthermore, inferences of positive motives mediate the effects of CSR message type and brand–cause fit on brand attitudes and sharing intentions. The influence of message type on positive motive perceptions varies by brand–cause fit and is further moderated by advertising skepticism. These findings provide theoretical and managerial implications for optimizing CSR messaging strategies on social media.

Purpose This paper examines corporate water disclosure in Bangladesh, an emerging economy, shedding light on how companies communicate water-related information. Design/methodology/approach To achieve this objective, both form-oriented and meaning-oriented content analyses were conducted on water-related disclosures found in Bangladeshi companies’ annual reports. The findings were interpreted using Suchman's (1995) framework of legitimacy, encompassing pragmatic, moral, and cognitive perspectives. Findings The analysis revealed that corporate water disclosure in Bangladesh is minimal, with only a few companies reporting on water-related issues. Key areas of disclosure included water sources, management, pollution, consumption, CSR activities related to water, and water-related products. Companies primarily aimed to establish pragmatic and moral legitimacy through their disclosures. Research limitations/implications The paper's findings contribute to the corporate water disclosure literature by examining empirical data from annual reports of corporations in a transitional economy. SDG 6 emphasizes access to clean water, and corporate water reporting can significantly contribute to achieving this goal, as the water management systems of the corporations are highlighted in these reports. This paper highlights concerns that need to be addressed by both report preparers and practitioners for water disclosure to be successfully implemented. Originality/value By exploring corporate water disclosure in an emerging economy, Bangladesh, this study addresses a gap in the existing literature. The dual application of form-oriented and meaning-oriented content analyses not only examines what information was disclosed but also how it was presented. Additionally, the study's interpretation through the lens of Suchman’s (1995) legitimacy forms offers a unique perspective on corporate water disclosure practices.

The presence of multinational corporations (MNCs) in Nigeria’s Niger Delta has long been justified through Corporate Social Responsibility (CSR) programmes that promise to support development and improve local welfare. Yet the everyday realities of the region tell a different story. Despite the heavy investment in CSR, the Niger Delta remains mired in environmental degradation, poverty, and recurring social unrest. This study explores the paradox of CSR in the region, questioning why initiatives that appear progressive on paper often yield minimal impact in practice. Guided by stakeholder theory and legitimacy theory, the paper examines how CSR has frequently been deployed less as a vehicle for genuine development than as a strategy for corporate image-building and conflict management. Methodologically, this study was guided by mixed-method data sources and collection, including primary (questionnaires and interviews) and secondary sources (scholarly articles in peer-reviewed journals). The questionnaire and interview instruments were distributed across four (4) selected oil communities with the presence of multinational oil corporations in Bayelsa and Akwa Ibom States. Data presentation and analysis were quantitatively and qualitatively implemented in the study. The findings of this study revealed that CSR projects have failed to effectively address local needs. Hence, poor CSR implementation fuels grievances, and the exclusion from CSR benefits drives youth militancy in the Niger Delta. Conclusively, this study postulates that in the planning, design, and implementation of CSR programmes and activities, there is a need to consider the needs of both parties for mutual benefit. This will enable oil MNCs to derive maximum benefits from their CSR initiatives, be less prone to community conflict, and gain legitimacy within their host communities.