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- Title
A THEORETICAL FRAMEWORK FOR CSR PRACTICES: INTEGRATING LEGITIMACY THEORY, STAKEHOLDER THEORY AND INSTITUTIONAL THEORY.
- Authors
Fernando, Susith; Lawrence, Stewart
- Abstract
This paper constructs an integrated theoretical framework for explaining Corporate Social Responsibility (CSR) practices by organisations. Three mainstream theories, namely legitimacy theory, stakeholder theory and institutional theory all of which have been employed in the CSR literature are integrated by considering theoretical predictive motivations of CSR practices. The three theories have similarities and are interrelated; and we argue they are not competing, but complementary. Most importantly, they can be integrated and linked to CSR practices in order to explain motives of such practices in a multi-theoretical perspective. This theoretical framework can be employed as a theoretical foundation for empirical studies relating to the reasons for CSR practices in various contexts. It attempts to obtain deep insights through more than one single theory in order to obtain fuller understanding of CSR practices. Further, it can be employed to check the extent to which these theories help to explain such practices.
- Subjects
SOCIAL responsibility of business; ORGANIZATIONAL legitimacy; STAKEHOLDERS; INSTITUTIONAL theory (Sociology); PREDICTION theory; EMPIRICAL research
- Publication
Journal of Theoretical Accounting Research, 2014, Vol 10, Issue 1, p149
- ISSN
1556-5106
- Publication type
Academic Journal