ABSTRACT
Since the early 1970s, there has been a long-standing research interest in the potential of corporate social responsibility (CSR) for creating value (Bragdon and Marlin 1972; Moskowitz 1972), as evidenced by hundreds of studies that investigated the correlation between CSR and fi nancial performance (for reviews, see Margolis and Walsh 2003; Molina-Azorín et al. 2009). Since the late 1990s, CSR has been increasingly linked to strategic management and strategic CSR research has emphasized CSR as a mechanism for enhancing differentiation and achieving a competitive advantage (e.g. Russo and Fouts 1997; Sharma and Vredenburg 1998; Porter and Kramer 2006).
