The Importance of Corporate Social Responsibility Strategic Fit and Times of Economic Hardship

Previous research investigating the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) reveals the importance of industry specificity. Drawing on strategic stakeholder theory, we argue that the strategic fit between CSR activities and value chain activities contributes to industry‐specific effects in the CSR–CFP relationship. Given the multidimensional nature of CSR, some CSR activities will be...