• Inmaculada Carrasco University of Castilla-La Mancha
  • Inmaculada Buendía-Martínez University of Castilla-La Mancha


Over recent decades corporate social responsibility (CSR) has become a major topic in economic literature, especially from a business perspective. This is due to the positive connection between responsible behaviour and profitability. The increasing role of CSR in sustainable growth and employment generation in the world’s economies means that it is now a priority in political agendas across the globe. This work proposes a study of CSR from an international comparative perspective, conducting an analysis of CSR as an intermediate variable. The results confirm the role of CSR as an interface between levels of internationalisation and business innovation, on one hand, and economic development and social change, on the other.


Download data is not yet available.


Acemoglu, D., Johnson, S., Robinson, J.A., & Yared, P. (2009). Reevaluating the modernization hypothesis. Journal of Monetary Economics, 56 (8), 1043–1058.

Albareda, L., Lozano, J.M., & Ysa, T. (2007). Public Policies on Corporate Social Responsibility: The Role of Governments in Europe. Journal of Business Ethics, 74 (4), 391-407.

Ashley, P.A. (2002). Ética e responsabilidade social nos negocios, São Paulo: Saraiva

Asongu, J.J. (2007). Innovation as an argument for corporate social responsibility. Journal of Business and Public Policy, 1 (3), 2-21.

Barclay, D., Higgins, C., & Thompson, R. (1995). The Partial Least Squares (PLS) Approach to Causal Modelling: Personal Computer Adoption and Use as an Illustration. Technology Studies, 2 (2), 285 – 309.

Bevan, D., Corvellec, H., & Faÿ, E. (2011). Responsibility Beyond CSR. Journal of Business Ethics, 101, 1-4.

Blowfield, M., & Murray, A. (2011). Corporate responsibility. Oxford: Oxford University Press.

Boehe, D.M., & Barin-Cruz, L. (2010). Corporate Social Responsibility, Product Differentiation Strategy and Export Performance. Journal of Business Ethics, 91 (2), 325 – 346.

Bouquet, C., & Deutsch, Y. (2008). The Impact of Corporate Social Performance on a Firm’s Multinationality. Journal of Business Ethics, 80 (4), 755 – 769.

Carrasco, I., & Buendía-Martínez, I. 2013. Corporate social responsibility: a crossroad between changing values, innovation and internationalization. European Journal of International Management, 7 (3), 295-314.

Chapple, W., & Moon, J. (2005). Corporate Social Responsibility (CSR) in Asia. Business and Society, 44 (4), 415-441.

Commission of the European Communities. (2001). Green Paper. Promoting a European framework for Corporate Social Responsibility. Document COM(2001) 366 final.

Council of the European Union. (2003). Council Resolution of 6 February 2003 on Corporate Social Responsibility, OJ C 39, 18.2.2003

Council of the European Union. (2002). Council Resolution of 3 December 2001 on follow-up to the Commission's Green Paper, OJ C 86, 10.4.2002

Dickson, M., BeShears, R., & Gupta, V. (2004). The Impact of Societal Culture and Industry on Organizational Culture: Theoretical Explanations In R.J. House, P.J. Hanges, M.Javidan, P.W. Dorfman & V. Gupta (eds.) Culture, Leadership, and Organizations: The GLOBE Study of 62 Societies, 4.93. Thousand Oaks: Sage, CA.

DiMaggio, P., & Powell, W. (1983). The iron cage revisited: institutional isomorphism and collective rationality in organization fields. American Sociological Review, 48, 147-160.

Dixit, A., & Stiglitz, J.E. (1977). Monopolistic Competition and Optimum Product Diversity, American Economic Review, 67, 297 - 308

Egri, C.P., & Ralston, D.A. (2008). Corporate Responsibility: A Review of International Management Research from 1998 to 2007. Journal of International Management, 14 (4), 319-339

European Commission. (2009). European competitiveness report 2008. Luxembourg: Office for Official Publication of the European Communities.

European Commission. (2011). Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of Regions: A renewed EU strategy for Corporate Social Responsibility. European Commission, Brussels (COM(2011)681 final). Available from: [Accessed 16 December 2011]

Falk, R.F., & Miller, N.B. (1992). A Primer for Soft Modelling. Akron: University of Akron.

Fornell, C., & Larcker, D.F. (1981). Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. Journal of Marketing Research, 18 (1), 39 - 50

Fornell, C. (1982). A Second Generation of Multivariate Analysis: An Overview. In C. Fornell (Ed.), A Second Generation of Multivariate Analysis, 1-21. New York: Praeger Publishers.

Funke, M., & Ruhwedel, R. (2002). Export Variety and Export Performance: Empirical Evidence for the OECD countries, Review of World Economics, 138 (1), 97 – 114.

Gallego-Álvarez, I., Prado-Lorenzo, J.M., & García-Sánchez, I.M. (2011). Corporate social responsibility and innovation: a resource based theory. Management Decision, 49 (10), 1709-1727.

Garriga, E., & Melé, D.N. (2004). Corporate Social Responsibility: Mapping the territory Journal of Business Ethics, 53 (1-2), 51 - 71.

Gjolberg, M. (2009). The Origin of Corporate Social Responsibility: Global Forces or National Legacies?. Socio-Economic Review, 7 (4), 605 – 637.

Gladwin, T.N., & Kennelly, J.J. (1995). Shifting Paradigms for Sustainable Development: Implications for Management Theory and Research. Academy of Management Review, 20 (4), 874–904.

Grayson, D.A., & Hodges, A. (2004). Corporate Social Opportunity! Seven Steps to Make Corporate Social Responsibility Work for Your Business. Uk: Greenleaf Publishing.

Gunther, M. (2005). Cops of the global village, Fortune, 151, 158–166.

Habermas, J. (1998). Three normative models of democracy In Habermas, J. (Ed.), The Inclusion of the Other: Studies in Political Theory: 239-252. Cambridge, MA: MIT Press.

Habermas, J. (2001). The Postnational Constelation. Cambridge, MA: MIT Press.

Habisch, A.; Jonker, J.; Wegner, M. & Schmidpeter, R. eds. (2005). Corporate social responsibility across Europe. Berlin: Springer Berlin.

Hair, J., Anderson, R., Tatham, R., & Black, W. (1998). Multivariate Data Analysis. Upper Saddle River: Prentice Hall International.

Helpman, E., & Krugman, P.R. (1985). Market Structure and Foreign Trade. Increasing Returns, Imperfect Competition, and the International Economy. Cambridge: The MIT Press.

Henderson, D. (2004). The Role of Business in the Modern World. London: Institute of Economic Affaires.

Hockerts, K. (2008). Managerial Perceptions of the Business case for Corporate Social Responsibility, CBS Center for Corporate Social Responsibility, Copenhagen Business School, Copenhagen (CBSCSR Working Paper Series: 03-2007). Available from: [Accessed 14 December 2011].

Hopkins, M. (2003). The Planetary Bargain: Corporate Social Responsibility Matters. London: Earthscan Publications.

Husted, B.W., & Allen, D.B. (2000). Is it ethical to use ethics as strategy?. Journal of Business Ethics, 27 (1-2), 21-31.

Inglehart, R. (2006). Mapping Global Values. Comparative Sociology, 5 (2-3), 15 – 136.

Inglehart, R. (Eds.). (2003). Human Values and Social Change: Findings from the Values Surveys. Leiden: Brill.

Kanter, R.M. (1999). From Spare Change to real Change – The Social Sector as beta site for

Business Innovation. Harvard Business Review, 77 (3), 122 – 132.

Knight, G.A., & Cavousgil, S.T. (2004). Innovation, Organizational Capabilities, and the Born-Global Firm. Journal of International Business Studies, 35 (2), 124 – 141.

Kolk, A., & van Tulder, R. (2010). International business, corporate social responsibility and sustainable development. International Business Review, 19 (1), 119-125.

Kolk, A., van Tulder, R., & Welters, C. (1999). International codes of conduct and corporate social responsibility: can transnational corporations regulate themselves?. Transnational Corporations, 8 (1), 143-180.

Krugman, P.R. (1979). Increasing Returns, Monopolistic Competition, and International Trade. Journal of International Economics, 9, 469 – 479.

Lantos, G.P. (2002). The boundaries of strategic corporate social responsibility. Journal of Consumer Marketing, 18 (2), 595-630.

Laudal, T. (2011). Drivers and barriers of CSR and the size and internationalization of firms. Social Responsibility Journal, 7 (2), 234-256.

Lewis, S. (2003). Reputation and corporate responsibility. Journal of Communication Management, 7 (4), 356-394.

Liedtka, J. (2002). Ethics and the New Economy. Business and Economic Review, 107 (1), 1-19.

Little, A.D. (2006). The Innovation Highground – Winning tomorrow’s Customers Using Sustainability driven Innovation. Strategic Direction, 22, 35-37.

MacGillivray, A., Begley, P., & Zadek, S. (Eds.). (2007). The State of Responsible Competitiveness 2007. Making Sustainable Development Count in Global Markets, AccountAbility, London. Available from: [Accessed 10 December 2011].

MacGregor, S.P., & Fontrodona, J. (2008). Exploring the fit between CSR and innovation. Center for Business and Society, Working Paper WP-759.

McWilliams, A., & Siegel, D. S. (2011). Creating and Capturing Value: Strategic Corporate Social Responsibility, Resource-Based Theory, and Sustainable Competitive Advantage. Journal of Management, 37 (5), 1480 – 1495.

Moore, G. (2003). Hives and horseshoes, Mitzberg and McIntyre: what future for corporate social responsibility?. Business Ethics: a European Review, 12 (1), 41-53.

Misani, N. (2010). The convergence of corporate social responsibility practices. Management Research Review, 33 (7), 734-748.

Nicolosi, M., Grassi, S., & Stanghellini, E. (2011). How to measure corporate social responsibility. SIRP Working Paper 11-04, 23 .

Nidumolu, R., Prahalad, C.K., & Rangaswami, M.R. (2009). Why Sustainability Is Now the Key Driver of Innovation. Harvard Business Review, September, 2-9.

Nunnally, J.C., & Bernstein, I.H. (1994). Psychonnetric Theory, 3rd ed., New York: McGraw-Hill.

Petkoski, D., & Twose, N. (2003). Public policy for corporate social responsibility. Washington: The World Bank Institute, the World Bank and the International Finance Corporation.

Porter, M.E., & Kramer, M.R. (2006). Strategy & Society: The Link Between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, 84 (12), 78–92

Porter, M.E., & Kramer, M.R. (2011). Creating shared value: how to reinvent capitalism and unleash a wave of innovation and growth. Harvard Business Review, Jan/Feb 2011, 63-70.

Rexhepi, G., Kurtishi, S., & Bexheti, G. (2013). Corporate Social Responsibility (CSR) and innovation. The drivers of business growth. Procedia-Social and Behavioral Sciences, 75 (3). 532-541.

Ringle, C.M., Sarstedt, M., & Mooi, E.A. (2010). Response-Based Segmentation Using Finite Mixture Partial Least Squares: Theoretical Foundations and an Application to American Customer Satisfaction Index Data. Annals of Information Systems, 8, 19 – 49.

Saurwein, F. (2011). Regulatory Choice for Alternative Modes of Regulation: How Context Matters. Law & Policy, 33 (3). 334-366.

Schmitz, J., & Schrader, J. (2013). Corporate social responsibility: A microeconomic review of the literature. Journal of Economic Surveys. 28 Aug. 2013. Doi: 10.1111/joes.1203

Schwartz, M.S. (2001). The Nature of the Relationship Between Corporate Codes of Ethics and Behavior. Journal of Business Ethics, 32 (3), 247–262.

Shamir, R. (2011). Socially Responsible Private Regulation: World-Culture or World-Capitalism?, Law & Society Review, 45(2), 313 – 336.

Scherer, A.G., & Palazzo, G. (2011). The New Political role of Business in a Globalized World: a Review of a New Perspective on CSR and its Implications for the Firm, governance, and Democracy. Journal of Management Studies, 48 (4), 899-931.

Škare, M., & Golja, T. (2013). How important are CSR companies for nations' growth. Journal of Business Economics and Management, 14 (4), 776-790.

Tenenhaus, M. (1998). La régression PLS: théorie et pratique. Paris: Éditions Technip.

The World Bank. (2009). 2009 World Development Indicators. Washington: International Bank for Reconstruction and Development/The World Bank. United Nation Development Programme (UNDP). 2009. Human Development Report 2009. Overcoming Barriers: Human Mobility and Development [online]. New York: Palgrave Macmillan. Available from: [Accessed 15 July 2011].

United Nations. (2008). Measuring Sustainable Development. New York: United Nations.

Wan-Jan W. S. 2006. `Defining corporate social responsibility´ Journal of Public Affairs, 6, 176-184.

Westhead, P., Wright, M., & Ucbasaran, D. (2004). Internationalization of Private Firms: Environmental Turbulence and Organizational Strategies and Resources, Entrepreneurship and Regional Development, 16 (6), 501 – 522.

The authors thank the Chair of Innovation and Cooperative and Business Development of the University of Castilla-La Mancha (Spain) for the financial support received to develop this work. The authors also thank the anonymous reviewers for their valuable comments and suggestions to improve the quality of the paper.

Argentina, Belgium, Brazil, Chile, Colombia, Croatia, Dominican Republic, Finland, France, Germany, Guatemala, Hungary, Iceland, Israel, Italy, Jamaica, Lithuania, Netherlands, Norway, Panama, Perú, Romania, Russia, Serbia, Slovenia, South Africa, Spain, Switzerland, United Kingdom, USA, Uruguay and Venezuela.




How to Cite

Carrasco, I., & Buendía-Martínez, I. (2016). FROM THE BUSINESS STRATEGY RESULT TO A SOURCE OF ECONOMIC DEVELOPMENT: THE DUAL ROLE OF CSR. Journal of Small Business Strategy, 26(1), 69–86. Retrieved from