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conservation, labor rights, and consumer protection (see the next chapter for further details).
From this context, the idea of Corporate Social Responsibility (CSR) steadily gained ground in

academic discussions.

CSR first entered scholarly prominence through Howard Bowen’s 1953 article (Bowen, 1953, cited
in Angudelo, Jóhannsdóttir, and Davídsdóttir, 2019), which called on business leaders to align
decision-making with societal values. This early period also saw works like Corporate Giving in a
Free Society by Eells (1956) and A Moral Philosophy for Management by Selekman (1959, cited in
Angudelo, Jóhannsdóttir, and Davídsdóttir, 2019), which introduced discussions on corporate
philanthropy. Over time, CSR evolved beyond charitable giving to assert that private firms should
be accountable not only to shareholders, but to a wider circle of stakeholders. Initially, these

stakeholders were linked directly to the production chain. Examples include customers, suppliers,
local communities, and activist groups. But this perspective deepened significantly in 1984, when
R. Edward Freeman published Strategic Management: A Stakeholder Approach. Freeman’s
argument that attending to all stakeholders contributes to long‑term corporate success and risk
reduction shifted the role of companies from passive entities to proactive agents of societal
progress.

In 1991, Archie B. Carroll introduced a now widely cited model known as the Pyramid of Corporate
Social Responsibility. This framework defined four tiers of responsibility. At the base is economic
responsibility: the duty to generate profits and operate efficiently, which serves as the foundation
for all others. Next is legal responsibility, which demands compliance with laws and government
regulations. Above that is ethical responsibility, which requires firms to uphold moral standards
that often go beyond legal requirements, responding to evolving societal norms and acting in
ways deemed fair and just. Finally, philanthropic responsibility captures the voluntary dimension
of CSR. This includes support for cultural preservation, charitable giving, educational programs,
and community initiatives, such as volunteering, knowledge-sharing, or fundraising. The upper

two levels, ethics and philanthropy, signal a shift from legal obligation to value-driven corporate
citizenship, grounded in moral accountability (Carroll, 1991).

Academic efforts to promote CSR found a practical outlet through the formation of Business for
Social Responsibility (BSR) in the United States. Launched in 1992 with an initial membership of
51 companies, BSR was established to uphold human dignity, protect natural resources, and
champion transparent and responsible business practices (Business for Social Responsibility,
2018). Another pivotal development in CSR theory was the emergence of strategic CSR, proposed
by Burke and Logsdon in 1996. This framework emphasized that corporate social initiatives could,
and should, yield both public value and business returns. It outlined five defining characteristics

of effective strategic CSR:

1. Centrality – alignment with the company’s core mission and strategic priorities.

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