Economics & Sociology

Corporate social responsibility (CSR) has emerged as an important strategy in business contexts. This study’s main objective was to identify and characterize the basic elements of CSR in micro, small, and medium enterprises (MSMEs) that can contribute to improving these companies’ competitiveness and legitimacy. The research was based on the premises defining CSR’s scope laid out by the Spanish Association of Accounting and Business Administration and the conceptual framework for corporate responsibility proposed by the European Commission’s Directorate-General Enterprise and Industry. A 2004 compilation of good practices in small and medium-sized enterprises in Europe provided the foundation for a systematic analysis isolating elements common to the two cited organizations’ frameworks. This is a descriptive study, on a sample of 23 companies belonging to the Autonomous Community of Extremadura, in Spain, involved in the practice of CSR and very sensitized to implement this strategy. Based on this list of features, a theoretical framework of CSR was constructed in order to identify the most significant elements and distinguish those of greatest importance to MSMEs’ competitiveness and legitimacy. The originality of this study combined public and private CSR frameworks to categorize the distinctive elements of CSR in MSMEs.

1. Abdelmotaleb, M., Eldin Mohamed Metwally, A.B., Saha, S.K. (2018). Exploring the impact of being perceived as a socially responsible organization on employee creativity. Management Decision, 56(11), 2325-2340. https://doi.org/10.1108/MD-06-2017-0552

2. Adams, R., Jeanrenaud, S., Bessant, J., Denyer, D., Overy, P. (2016). Sustainability‐oriented innovation: a systematic review. International Journal of Management Reviews, 18(2), 180-205.

3. Aerts, W., Cormier, D. (2009). Media legitimacy and corporate environmental communication. Accounting, Organization and Society, 34(1), 1-27.

4. Akintayo, D. (2010). Work-family role conflict and organizational commitment among industrial workers in Nigeria. International Journal of Psychology Counseling, 2(1), 1-8.

5. Alcántara, L., Mitauhashi, H., & Hoshino, Y. (2006). Legitimacy in international joint ventures: it is still needed. Journal of International Management, 12(4), 389-407. doi:10.1016/j.intman.2006.08.002

6. Ali, I., Rehman, K. U., Ali, S. I., Yousaf, J., & Zia, M. (2010). Corporate social responsibility influences, employee commitment and organizational performance. African Journal of Business Management, 4(12), 2796-2801.

7. Appiah, M. K., Possumah, B. T., Ahmat, N., & Sanusi, N. A. (2019). Small and medium enterprise’s internal resources and investment decisions in Ghana: The resource-based approach. Economics and Sociology, 12(3), 37-53. doi:10.14254/2071-789X.2019/12-3/3

8. Aragón-Correa, J. A., Hurtado-Torres, N., Sharma, S., & García-Morales, V. J. (2008). Environmental strategy and performance in small firms: a resource-based perspective. Journal of Environmental Management, 86(1), 88-103. doi:10.1016/j.jenvman.2006.11.022

9. Asociación Española de Contabilidad y Administración de Empresas. (2004). Marco conceptual de la responsabilidad social corporativa, Documento nº 1 de la Comisión de RSC de AECA. Madrid: AECA.

10. Baldarelli, M.G., & Gigli, S. (2014). Exploring the drivers of corporate reputation integrated with a corporate responsibility perspective: some reflections in theory and in praxis. Journal of Management and Governance, 18(2), 589-613. Doi: 10.1007/s10997

11. Bitektine, A. (2011). Toward a theory of social judgments of organizations: the case of legitimacy, reputation, and status. Academy of Management Review, 36(1), 151-179.

12. Bitektine, A., & Haack, P. (2015). The ‘macro’ and the ‘micro’ of legitimacy: toward a multilevel theory of the legitimacy process. Academy of Management Review, 40(1), 49-75.

13. Boulouta, I., & Pitelis, C. N. (2014). Who needs CCSR? The impact of corporate social responsibility on national competitiveness. Journal of Business Ethics, 119(3), 349-364. doi: 10.1007/s10551-013-1633-2

14. Bradford, J., & Fraser, E. D. G. (2008). Local authorities, climate change and small and medium enterprises: identifying effective policy instruments to reduce energy use and carbon emissions. Corporate Social Responsibility and Environmental Management,

15. Brunton, M., Eweje, G., & Taskin, N. (2017). Communication corporate social responsibility to internal stakeholders: Walking the walk or just talking the talk? Business Strategy and the Environment, 26, 31-48. Doi: 10.1002/bse.1889

16. Business, Innovations and Skills. (2008). SME statistics for the UK and regions 2009. London: Department for Business, Innovations & Skills.

17. Calabrese, A., Costa, R., Menichini, T., Rosati, F., & Sanfelice, G. (2013). Turning corporate social responsibility‐driven opportunities into competitive advantages: a two‐dimensional model. Knowledge and Process Management, 20(1), 50-58. doi:10.1002/kpm

18. Castilla-Polo, F., Gallardo-Vázquez, D., Sánchez-Hernández, M.I., & Ruíz-Rodríguez, M.C. (2018). An empirical approach to analyse the reputation-performance linkage in agrifood cooperatives. Journal of Cleaner Production, 195, 163-175. https://doi.org/10.

19. Chang, R. D., Zuo, J., Zhao, Z. Y., Soebarto, V., Lu, Y., Zillante, G., & Gan, X. L. (2018). Sustainability attitude and performance of construction enterprises: a China study. Journal of Cleaner Production, 172, 1440-1451. doi:10.1016/j.jclepro.2017.10.2

20. Choi, J.H., Kim, S., & Yang, D.H. (2018). Small and medium enterprises and the relation between social performance and financial performance: Empirical evidence from Korea. Sustainability, 10, 1816, doi:10.3390/su10061816

21. Choongo, P. (2017). A longitudinal study of the impact of corporate social responsibility on firm performance in SMEs in Zambia. Sustainability, 9(8), 1-19.

22. D’Aprile, G., & Talo`, C. (2014). Measuring corporate social responsibility as a psychosocial construct: A new multidimensional scale. Employee Responsibilities and Rights Journal, 26(3), 153-175. https://doi.org/10.1007/s10672-013-9228-8

23. De Roeck, K., & Maon, F. (2018). Building the theoretical puzzle of employees’ reactions to corporate social responsibility: An integrative conceptual framework and research agenda. Journal of Business Ethics, 149(3), 609-625. doi:10.1007/s10551-016-3081-

24. Deegan, C. (2002). The legitimising effect of social and environmental disclosures – a theoretical foundation. Accounting, Auditing and Accountability Journal, 15(3), 282-311. doi:10.1108/09513570210435852

25. Deephouse, D.L., & Suchman, M. (2008). Legitimacy in organizational institutionalism. In: Greenwood, R., Oliver, C., Sahlin, K., Suddaby, R. (Eds.), The Sage Handbook of Organizational Institutionalism. Sage, Thousand Oaks, pp. 49-77.

26. Delgado Ferraz, F. A., & Gallardo-Vázquez, D. (2016). Measurement tool to assess the relationship between corporate social responsibility, training practices and business performance. Journal of Cleaner Production, 129, 659-672. doi:10.1016/j.jclepro.2016

27. Derakhshan, R., Mancini, M., & Turner, J.R. (2019). Community´s evaluation of organizational legitimacy: Formation and reconsideration. International Journal of Project Management, 37, 73-86.

28. Dilling, P.F.A., & Caykoylu, S. (2019). Determinants of companies that disclose high-quality integrated reports. Sustainability, 11, 3744, doi:10.3390/su11133744

29. Edinger-Schons, L.M., Lengler-Graiff, L., Scheidler, S., & Wieseke, J. (2019). Frontline Employees as Corporate Social Responsibility (CSR) Ambassadors: A Quasi-Field Experiment. Journal of Business Ethics, 157(2), 359-373. https://doi.org/10.1007/s10551-

30. El Akremi, A., Gond, J.P., Swaen, V., Roeck, K.D., & Igalens, J. (2015). How do employees perceive corporate responsibility? Development and validation of a multidimensional corporate stakeholder responsibility scale. Journal of Management, 44(2), 619-657

31. European Commission. (2001). Libro verde. Fomentar un marco Europeo para la responsabilidad social de las empresas. Luxemburg: Oficina de Publicaciones de las Comunidades Europeas. Retrieved from http://eur-lex.europa.eu/LexUriServ/site/es/com/2001/com200

32. European Commission. (2003). Recomendación de la Comisión de 6 de Mayo de 2003 sobre la definición de microempresas, pequeñas y medianas empresas. Luxemburg: Oficina de Publicaciones de las Comunidades Europeas. Retrieved from http://www.idepa.es/sites/we

33. European Commission. (2004). Responsabilidad empresarial. Recopilación y casos de buenas prácticas entre pequeñas y medianas empresas de Europa. Luxemburg: Oficina de Publicaciones de las Comunidades Europeas. Retrieved from http://www.xertatu.net/fitxate

34. European Commission. (2011). Comunicación de la Comisión al Parlamento Europeo, al Consejo, al Comité Económico y Social Europeo y al Comité de las Regiones. Estrategia renovada de la UE para 2011-2014 sobre la responsabilidad social de las empresas. Brus

35. Farooq, O., Payaud, M., Merunka, D., & Valette-Florence, P. (2014). The impact of corporate social responsibility on organizational commitment: Exploring multiple mediation mechanisms. Journal of Business Ethics, 125(4), 563-580. doi:10.1007/s10551-013-19

36. Farooq, O., Rupp, D. E., & Farooq, M. (2017). The multiple pathways through which internal and external corporate social responsibility influence organizational identification and multifoci outcomes: The moderating role of cultural and social orientations

37. Fassin, Y. (2008). SMEs and the fallacy of formalising CSR. Business Ethics: A European Review, 17(4), 364-379. doi:10.1111/j.1467-8608.2008.00540.x

38. Fassin, Y., Van Rossem, A., & Buelens, M. (2011). Small-business owner-managers’ perceptions of business ethics and CSR-related concepts. Journal of Business Ethics, 98(3), 425-453. doi:10.1007/s10551-010-0586-y

39. Ferreira, P., & Real de Oliveira, E. (2014). Does corporate social responsibility impact on employee engagement? Journal of Workplace Learning, 26(3/4), 232-247. doi:10.1108/JWL-09-2013-0070

40. Gallardo-Vázquez, D., Moneva-Abadía, J.M., & Sánchez-Hernández, M.I. (2016). Responsabilidad Social Corporativa Interna. Delimitación Conceptual e Información, AECA, Madrid.

41. Gallardo-Vázquez, D., & Sánchez-Hernández, M. I. (2012). Information on corporate social responsibility and sme´s environmental responsiveness: a regional study. Economics & Sociology, 5(2), 103-115.

42. Gallardo-Vázquez, D., & Sánchez-Hernandez, M. I. (2014a). Measuring corporate social responsibility for competitive success at a regional level. Journal of Cleaner Production, 72, 14-22. doi:10.1016/j.jclepro.2014.02.051

43. Gallardo-Vázquez, D., & Sánchez-Hernández, M. I. (2014b). Structural analysis of the strategic orientation to environmental protection in SMEs. Business Research Quarterly, 17(2), 115-128.

44. Gallardo-Vázquez, D., Sánchez-Hernández, M. I., & Corchuelo Martínez-Azúa, M. B. (2013). Validación de un instrumento de medida para la relación entre la orientación a la responsabilidad social corporativa y otras variables estratégicas de la empresa. Spa

45. Gallardo-Vázquez, D., Valdez-Juárez, L.E., & Castuera-Díaz, A.M. (2019a). Corporate social responsibility as an antecedent of innovation, reputation, performance, and competitive success: A multiple mediation analysis. Sustainability, 11, 5614. doi:10.339

46. Gallardo-Vázquez, D., Valdez-Juárez, L.E., & Lizcano-Álvarez, J.L. (2019b). Corporate social responsibility and intelectual capital: Sources of competitiveness and legitimacy in organizations´ management practices. Sustainability, 11, 5843. doi:10.3390/su

47. Gallego-Álvarez, I., Formigoni, H., & Pompa Antunes, M.T. (2014). Corporate social responsibility practices at Brazilian firms. RAE Revista de Administração de Empresas, 54(1), 12-27.

48. Gallo, M. (2004). The family business and its social responsibilities. Family Business Review, 17(2), 135-147. doi:10.1111/j.1741-6248.2004.00009.x

49. Gherghina, Ş. C., & Vintilă, G. (2016). Exploring the impact of corporate social responsibility policies on firm value: The case of listed companies in Romania. Economics and Sociology, 9(1), 23-42. doi: 10.14254/2071- 789X.2016/9-1/2

50. Glavas, A., & Aguinis, H. (2012). What we know and don’t know about corporate social responsibility: A review and research agenda. Journal of Management, 38(4), 932-968. https://doi.org/10.1177%2F0149206311436079

51. Goergen, M., Chahine, S., Wood, G., & Brewster, C. (2016). Public listing, context and CSR: The effects of legal origin. Journal of Comparative International Management, 19(1), 47-73.

52. González-Loureiro, M., & Pita-Castelo, J. (2012). A model for assessing the contribution of innovative SMEs to economic growth: The intangible approach. Economics Letters, 116(3), 312-315.

53. Grabara, J., Dura, C., & Drigă, I. (2016). Corporate social responsibility awareness in romania and poland: A comparative analysis. Economics and Sociology, 9(4), 344-359. doi:10.14254/2071-789X.2016/9-4/22

54. Halim, E. H., Mustika, G., Sari, R. N., Anugerah, R., & Mohd-Sanusi, Z. (2017). Corporate governance practices and financial performance: The mediating effect of risk management committee at manufacturing firms. Journal of International Studies, 10(4), 27

55. Hao, Y., Farooq, Q., & Zhang, Y. (2018). Unattended social wants and corporate social responsibility of leading firms: Relationship of intrinsic motivation of volunteering in proposed welfare programs and employee attributes. Corporate Social Responsibili

56. Herrera-Madueño, J., Larrán-Jorge, M., Lechuga-Sancho, M.P., & Martínez-Martínez, D. (2016a). Responsabilidad Social en las PYMEs: Análisis Exploratorio de Factores Explicativos. Revista de Contabilidad, 19(1), 31-44. https://doi.org/10.1016/j.rcsar.2014.

57. Herrera-Madueño, J., Larrán-Jorge, M., Martínez-Conesa, I., & Martínez-Martínez, D. (2016b). Relationship between corporate social responsibility and competitive performance in Spanish SMEs: Empirical evidence from a stakeholders perspective. BRQ Business

58. Hoffman, R.C. (2007). Corporate social responsibility in the 1920s: An institutional perspective. Journal of Management History, 13(1), 55-73. https://doi.org/10.1108/17511340710715179

59. International Organization for Standardization (ISO). (2010). ISO 26000—Social Responsibility. Retrieved from http://www.iso.org/iso/home/standards/iso26000.htm

60. Jansson, J., Nilsson, J., Modig, F., Hed Vall, G. (2017). Commitment to sustainability in small and medium-sized enterprises: the influence of strategic orientations and management values. Business Strategy and the Environment, 26(1), 69-83. doi:10.1002/b

61. Jenkins, H. (2006). Small business champions for corporate social responsibility. Journal of Business Ethics, 67(3), 241-256.

62. Jo, H., Kim, H., & Park, K. (2015). Corporate environmental responsibility and firm performance in the financial services sector. Journal of Business Ethics, 131(2), 257-84.

63. Kaufmann, F., & Simons-Kaufmann, C. (2016). Corporate social responsibility in Mozambique. In S. Vertigans, S. O. Idowu, & R. Schmidpeter (Eds.), Corporate social responsibility in sub-Saharan Africa: sustainable development in its embryonic form (pp. 31-

64. Kengatharan, L., & Clamenthu, D.P. (2017). Use of capital investment appraisal practices and effectiveness of investment decisions: a study on listed manufacturing companies in Sri Lanka. University of Jaffna.

65. Kobe, K. (2007). The small business share of GDP, update 2002-2010. Retrieved from https://www.sba.gov/content/small-business-gdp-update-2002-2010

66. Kozlowski, R., & Matejun, M. (2016). Characteristic features of project management in small and medium-sized enterprises. Business Administration and Management, 1, XIX, 33-48. doi:10.1524/tul/001/2016-1-003

67. Lamberti, L., & Lettieri, E. (2011). Gaining legitimacy in converging industries: evidence from the emerging market of functional food. European Management Journal, 29(6), 462-475.

68. Lee, H. Y., Kwak, D. W., & Park, J. Y. (2017). Corporate social responsibility in supply chains of small and medium-sized enterprises. Corporate Social Responsibility and Environmental Management, 24(6), 634-647.

69. León, G., Benavides Gutiérrez, H.L., & Castán Farrero, J.M. (2017). Evaluation of the perception and application of social responsibility practices in micro, small and medium companies in Barranquilla. An analysis from the theory of Stakeholders. Estudios

70. Li, D., Xin, L., Chen, X., & Ren, S. (2017). Corporate social responsibility, media attention and firm value: empirical research on Chinese manufacturing firms. Quality & Quantity, 51(4), 1563-1577.

71. Looser, S., & Wehrmeyer, W. (2015). Stakeholder mapping of CSR in Switzerland. Social Responsibility Journal, 11(4), 780-830.

72. Lu, R.X.A., Lee, P.K.C., & Cheng, T.C.E. (2012). Socially responsible supplier development: Construct development and measurement validation. International Journal of Production Economics, 140(1), 160-167. doi:10.1016/j.ijpe.2012.01.032

73. Machová R., Huszárik E.S., & Šimonová M. (2016). Selected aspects of innovation policy for small and medium sized enterprises. Journal of International Studies, 9(2), 219-232. doi:10.14254/2071-8330.2016/9-2/17

74. Madorran, C., & García, T. (2016). Corporate social responsibility and financial performance: The Spanish case. RAE, Revista de Administração de Empresas, 56(1), 20-28.

75. Marín, L., Rubio, A., & Maya, S. R. (2012). Competitiveness as a strategic outcome of corporate social responsibility. Corporate Social Responsibility and Environmental Management, 19(6), 364-376. doi:10.1002/csr.1288

76. Maignan, I., & Ferrell, O. C. (2000). Measuring corporate citizenship in two countries: The case of the United States and France. Journal of Business Ethics, 23(3), 283-297. https://doi.org/10.1023/A:1006262325211

77. Martínez-Conesa, I., Soto-Acosta, P., & Palacios-Manzano, M. (2017). Corporate social responsibility and its effect on innovation and firm performance: An empirical research in SMEs. Journal of Cleaner Production, 142, 2374-2383.

78. Moneva‐Abadía, J. M., Gallardo‐Vázquez, D., & Sánchez‐Hernández, M. I. (2018). Corporate Social Responsibility as a Strategic Opportunity for Small Firms during Economic Crises. Journal of Small Business Management, 57(sup2), 172-199. https://doi.org/10.1

79. Moore, G., Slack, R., & Gibbon, J. (2009). Criteria for responsible business practice in SMEs: an exploratory case of UK fair trade organisations. Journal of Business Ethics, 89(2), 173-188.

80. Mory, L., Wirtz, B. W., & Göttel, V. (2016). Factors of internal corporate social responsibility and the effect on organizational commitment. The International Journal of Human Resource Management, 27(13), 1393-1425. https://doi.org/10.1080/09585192.2015.

81. Murillo, D., & Lozano, J. M. (2006). SMEs and CCSR: an approach to CCSR in their own words. Journal of Business Ethics, 67(3), 227-240.

82. Myšková, R., & Hájek, P. (2019). Relationship between corporate social responsibility in corporate annual reports and financial performance of the US companies. Journal of International Studies, 12(1), 269-282.

83. Niehm, L. S., Swinney, J., & Miller, N. K. (2007). Community social responsibility and its consequences for family business performance. Journal of Small Business Management, 46(3), 331-350. doi:10.1111/j.1540-627X.2008.00247.x

84. Ongori, H. (2007). A review of the literature on employee turnover. African Journal of Business Management, 1(3), 49-54. doi: 10.5897/AJBM

85. Pastrana, N. A., & Sriramesh, K. (2014). Corporate social responsibility: perceptions and practices among SMEs in Colombia. Public Relations Review, 40(1), 14-24. doi:10.1016/j.pubrev.2013.10.002

86. Perrini, F., Russo, A., & Tencati, A. (2007). CSR strategies of SMEs and large firms: evidence from Italy. Journal of Business Ethics, 74(3), 285-300. doi:10.1007/s10551-006-9235-x

87. Pivato, S., Misani, N., & Tencati, A. (2008). The impact of corporate social responsibility on consumer trust: the case of organic food. Business Ethics: A European Review, 17, 3-12.

88. Platonova, E., Asutay, M., Dixon, R., & Mohammad, S. (2018). The impact of corporate social responsibility disclosure on financial performance: evidence from the GCC Islamic banking sector. Journal of Business Ethics, 151(2), 451-471.

89. Popovic, T., Kraslawski, A., Barbosa-Póvoa, A., & Carvalho, A. (2017). Quantitative indicators for social sustainability assessment of society and product responsibility aspects in supply chains. Journal of International Studies, 10(4), 9-36. doi:10.14254

90. Preuss, L., & Perschke, J. (2010). Slipstreaming the larger boats: social responsibility in medium-sized businesses. Journal of Business Ethics, 92, 531-551. doi:10.1007/s10551-009-0171-4

91. Quazi, A.M., & O´Brien, D. (2000). An empirical test of a cross-national model of Corporate Social Responsibility. Journal of Business Ethics, 25, 33-51. https://doi.org/10.1023/A:1006305111122

92. Raza, J., & Majid, A. (2016). Perceptions and practices of corporate social responsibility among SMEs in Pakistan. Quality & Quantity, 50(6), 2625-2650. doi:10.1007/s11135-015-0281-2

93. Rettab, B., Brik, A. B., & Mellahi, K. A. (2009). Study of management perceptions of the impact of corporate social responsibility on organisational performance in emerging economies: the case of Dubai. Journal of Business Ethics, 89, 371-390. doi:10.1007

94. Russo, A., & Tencati, A. (2009). Formal vs. informal CSR strategies: evidence from Italian micro, small, medium-sized, and large firms. Journal of Business Ethics, 85, 339-353. doi:10.1007/s10551-008-9736-x

95. Simões, M., Freitas, C. L., Barbosa-Póvoa, A. P., & Carvalho, A. (2016). Social Life Cycle Assessment- A framework for mid- and end-point impact categories. Working-paper #1-2016, CEG-IST, Instituto Superior Tėcnico (Technical University of Lisbon), Portu

96. Stoian, C., & Gilman, M. (2017). Corporate social responsibility that “Pays”: A strategic approach to CSR for SMEs. Journal of Small Business Management, 55(1), 5-31. doi:10.1111/jsbm.12224

97. Stubblefield Loucks, E., Martens, M. L., & Cho, C. H. (2010). Engaging small- and medium-sized businesses in sustainability. Sustainability Accounting, Management and Policy Journal, 1(2), 178-200.

98. Suchman, M. C. (1995). Managing legitimacy: strategic and institutional approaches. The Academy of Management Review, 20(3), 571-610. doi: 10.2307/258788

99. Taghian, M., D’Souza, C., & Polonsky, M. (2015). A stakeholder approach to corporate social responsibility, reputation and business performance. Social Responsibility Journal, 11(2), 340-363. https://doi.org/10.1108/SRJ-06-2012-0068

100. Tornikoski, E. T., & Newbert, S. L. (2007). Exploring the determinants of organizational emergence: a legitimacy perspective. Journal of Business Venturing, 22(2), 311-335. doi:10.1016/j.jbusvent.2005.12.003

101. Turker, D. (2009). Measuring Corporate Social Responsibility: a scale development study. Journal of Business Ethics, 85(4), 411-427. https://doi.org/10.1007/s10551-008-9780-6

102. Valdez-Juárez, L.E., Gallardo-Vázquez, D., & Ramos-Escobar, E.A. (2018). CSR and the Supply Chain: Effects on the results of SMEs. Sustainability, 10, 2356. https://doi.org/10.3390/su10072356

103. Valenzuela Fernánez, L., Jara-Bertin, M., & Villegas Pineaur, F. (2015). Prácticas de responsabilidad social, reputación corporativa y desempeño financiero. RAE, Revista de Administração de Empresas, 55(3), 329-344.

104. Vance, R. J. (2006). Employee engagement and commitment. A guide to understanding, measuring and increasing engagement in your organization. Alexandria, VA: SHRM Foundation.

105. Westman, L., Luederitz, C., Kundurpi, A., Mercado, A.J., Weber, O., & Burch, S.L. (2019). Conceptualizing businesses as social actors: A framework for understanding sustainability actions in small- and medium-sized enterprises. Business Strategy and the E

106. Williamson, D., & Lynch-Wood, G. (2008). Social and environmental reporting in UK company law and the issue of legitimacy. Corporate Governance: The International Journal of Business in Society, 8(2), 128-140.

107. Yeh, Y. P. (2015). Corporate social responsibility and service innovation on customer loyalty: An empirical investigation in wealth management services. International Journal of Bank Marketing, 33(6), 823-839. https://doi.org/10.1108/IJBM-09-2014-0130

108. Youssef, K., Leicht, T., Pellicelli, M., & Kitchen, P.J. (2018). The importance of corporate social responsibility (CSR) for branding and business success in small and medium-sized enterprises (SME) in a business-to-distributor (B2D) context. Journal of S

109. Zhang, J.J., Mei, Q., & Liu, S.X. (2019). Study of the influence of employee safety voice on workplace safety level of small- and medium-sized enterprises. Nankai Business Review International, 10(1), 67-90.