1 _16-08_ - CHATZOUDES


 

EXAMINING THE IMPACT OF CORPORATE 
SOCIAL RESPONSIBILITY PRACTICES ON 

VARIOUS MEASURES OF CONSUMER 

 
 

Received: August 1, 2015         Accepted: 
 
 
 

 
Corporate Social Responsibility (CSR) is an extremely interesting research subject with 
numerous academic and practical implications. Its empirical investigation raises valuable 
lessons, since the existing literature offers several research gaps. More spec
of CSR in economies under crisis has not been sufficiently investigated. In this context, the 
present study proceeds in developing and testing an original conceptual framework (research 
model), which explores the impact of CSR practices 
behavior. More specifically, the proposed conceptual framework includes one independent 
factor (CSR practices) and nine dependent factors (trust towards the organisation, company 
valuation, customer-company identification, r
intention, customer loyalty, willingness to pay a premium price, perceived quality of services, 
company reputation). The proposed conceptual framework was tested, using a newly
developed structured questionnaire, i
Equation Modelling (SEM) technique was used in order to test the research hypotheses. 
Results underline the significance of CSR practices in an economy under crisis, the effect of 
gender, and the shift from the classic paradigm of Corporate Social Responsibility.
 
Keywords: Corporate Social Responsibility; Economic crisis; Empirical study; Structural 
Equation Modeling (SEM); Greece
 
 
1. Introduction 
Corporate Social Responsibility (CSR) appears to have a significant impact on consumer 
behavior, since modern societies tend to pay an increasingly higher attention to the social 
interactions of business organisations (Bhattacharya a
Korschun et al., 2014; Maignan 

International Journal of Economic Behavior, vol 

 

EXAMINING THE IMPACT OF CORPORATE 
SOCIAL RESPONSIBILITY PRACTICES ON 

VARIOUS MEASURES OF CONSUMER 
BEHAVIOR

DIMITRIOS A. CHATZOUDES
Democritus University of Thrace, Greec

PRODROMOS D. CHATZOGLOU
Democritus University of Thrace, Greece

 
Accepted: November 27, 2015          Online Published: 

Abstract 

Corporate Social Responsibility (CSR) is an extremely interesting research subject with 
numerous academic and practical implications. Its empirical investigation raises valuable 
lessons, since the existing literature offers several research gaps. More spec
of CSR in economies under crisis has not been sufficiently investigated. In this context, the 
present study proceeds in developing and testing an original conceptual framework (research 
model), which explores the impact of CSR practices on various measures of consumer 

. More specifically, the proposed conceptual framework includes one independent 
factor (CSR practices) and nine dependent factors (trust towards the organisation, company 

company identification, recommendation intention, repeat patronage 
intention, customer loyalty, willingness to pay a premium price, perceived quality of services, 
company reputation). The proposed conceptual framework was tested, using a newly
developed structured questionnaire, in a sample of 473 Greek consumers. The Structural 
Equation Modelling (SEM) technique was used in order to test the research hypotheses. 
Results underline the significance of CSR practices in an economy under crisis, the effect of 

the classic paradigm of Corporate Social Responsibility.

Corporate Social Responsibility; Economic crisis; Empirical study; Structural 
Equation Modeling (SEM); Greece. 

Corporate Social Responsibility (CSR) appears to have a significant impact on consumer 
, since modern societies tend to pay an increasingly higher attention to the social 

interactions of business organisations (Bhattacharya and Sen, 2004; Cheng 
, 2014; Maignan et al., 2005). Despite that, there is a lack of empirical studies 

International Journal of Economic Behavior, vol 6, n. 1, pp. 3-19

3 

 
EXAMINING THE IMPACT OF CORPORATE 

SOCIAL RESPONSIBILITY PRACTICES ON 
VARIOUS MEASURES OF CONSUMER 

BEHAVIOR 
 

DIMITRIOS A. CHATZOUDES 
Democritus University of Thrace, Greece 

 
CHATZOGLOU 

Democritus University of Thrace, Greece 

Online Published: June 22, 2016 

Corporate Social Responsibility (CSR) is an extremely interesting research subject with 
numerous academic and practical implications. Its empirical investigation raises valuable 
lessons, since the existing literature offers several research gaps. More specifically, the role 
of CSR in economies under crisis has not been sufficiently investigated. In this context, the 
present study proceeds in developing and testing an original conceptual framework (research 

on various measures of consumer 
. More specifically, the proposed conceptual framework includes one independent 

factor (CSR practices) and nine dependent factors (trust towards the organisation, company 
ecommendation intention, repeat patronage 

intention, customer loyalty, willingness to pay a premium price, perceived quality of services, 
company reputation). The proposed conceptual framework was tested, using a newly-

n a sample of 473 Greek consumers. The Structural 
Equation Modelling (SEM) technique was used in order to test the research hypotheses. 
Results underline the significance of CSR practices in an economy under crisis, the effect of 

the classic paradigm of Corporate Social Responsibility. 

Corporate Social Responsibility; Economic crisis; Empirical study; Structural 

Corporate Social Responsibility (CSR) appears to have a significant impact on consumer 
, since modern societies tend to pay an increasingly higher attention to the social 

nd Sen, 2004; Cheng et al., 2014; 
, 2005). Despite that, there is a lack of empirical studies 

19, 2016 



4 

 

providing coherent evidence about the specific effects of SCR practices on various measures 
of consumer behavior. 

Moreover, according to numerous studies measuring consumer perceptions (e.g. CSR 
Europe, 2009; WPP, 2011), 87% of consumers expect companies to consider their effect on 
society while pursuing organisational goals and objectives, while 70% express the intention to 
purchase products from companies that have ethical values and demonstrate social 
responsibility. This seems to be an ongoing trend, since CSR becomes an increasingly important 
part of the business environment around the globe (Di Giuli and Kostovetsky, 2014). 

According to Marin et al. (2009), the CSR stream of empirical research is characterised 
by contradicting results. The same view is being supported by the literature review studies of 
Schmitz and Schrader (2015) and Xu et al. (2014). More specifically, most empirical studies 
investigating consumer behavior are descriptive in nature, failing to recognise cause-and-
effect relationships between research factors. Additionally, the role of CSR in economies 
under crisis has not been sufficiently investigated. The few recent studies investigating CSR 
in economies under crisis (e.g. Ducassy, 2013) are concerned with organisations, not citizens. 

The present study aims at developing and empirically testing an original conceptual 
framework (research model), exploring the impact of CSR practices on various measures of 
consumer behavior (trust towards the organisation, company valuation, customer-company 
identification, recommendation intention, repeat patronage intention, customer loyalty, 
willingness to pay a premium price, perceived quality of services, company reputation). This 
framework was based on a critical synthesis of numerous previous empirical studies (e.g. 
Bravo et al., 2009; Choi and La, 2013; Kalyar et al., 2013; Lai et al., 2010; Mandhachitara 
and Poolthong, 2011; Marin et al., 2009; Martínez and del Bosque, 2013; Salmones et al., 
2005; Walsh and Bartikowski, 2013). 

The examination of the proposed conceptual framework was made with the use of a 
newly-developed structured questionnaire that was distributed to a group of Greek consumers. 
Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and the Structural 
Equation Modelling (SEM) technique were used in order to test the research hypotheses. 

The present study is empirical (it is based on primary data), explanatory (examines cause 
and effect relationships), deductive (tests research hypotheses) and quantitative (analyses 
quantitative data collected with the use of a structured questionnaire). Its contribution lies in 
the following areas: 
� It adopts an explanatory methodological approach, investigating causal relationships 

between various research factors. On the other hand, the existing international literature 
is, mostly, descriptive in nature. 

� It is original, testing a conceptual framework that includes relationships that have never 
been collectively examined before by the relevant literature. Nevertheless, its theoretical 
basis is coherent, since the proposed conceptual framework is a synthesis of previous 
empirical investigation. 

� It is conducted in an environment under economic crisis (Greece). Very few empirical 
studies have adopted the same approach. The recent studies of Ducassy (2013), Gangi 
and Trotta (2013), Herzig and Moon (2013), and Glavopoulos et al. (2013), also, 
examined economies under economic crisis, but their main focus was on organisations 
and not on consumers. Hence, the present study enhances the international body of CSR 
literature, offering information about the effect of CSR practices on consumer behavior in 
an economy under crisis. 

� It uses primary data collected from consumers, and not from official financial statements. 
By doing so, it takes under consideration the “customers” of CSR initiatives. After all, 
the success of CSR practices in not determined by the amount of money spent, but on the 



 

real perceptions of consumers. Moreover, using data from financial statements seems 
somewhat problematic, since their reliability is, usually, criticised.

 
2. The proposed Conceptual Framework
The conceptual framework of
relevant literature. More specifically, numerous previous studies investigating the effect of 
CSR on consumer behavior were identified. The most important factors used in these studies 
were incorporated into the proposed conceptual framework (research model).

The present study adopts a wider view than the one, usually, followed in the literature of 
the field, since previous studies have, mostly, focused on a limited number of factors 
capturing consumer behavior. On the other hand, the present study investigates the effect of 
CSR practices on nine dimensions of consumer 
 
2.1. Trust towards the organisation
According to Godfrey (2005), CSR is a basic parameter for building the ethical background of 
an organisation. The perception that a company is ethical and responsible develops trusting 
relationships that are not based on contracts, but on values and princi
argue that trust is one of the most significant consequences of social initiatives undertaken by 
companies. Thus, it is hypothesised:

 
H1: CSR practices have a positive effect on trust towards the organisation.

 
2.2. Company valuation 
Bhattacharya et al. (1998) argue that company valuation is being conducted upon the basis of 
the distinct characteristics of an organisation. CSR practices can be perceived as an integrated 
part of the organisational profile, allowing consumers to increase their overall valu
the company. On the same vein, Berens 
corporate profile, thus affecting consumer perceptions. Mohr and Webb (2005) concluded that 
when consumers perceive a company as social responsible, their ov
company is significantly strengthened. Therefore, the following hypothesis is proposed:
 

H2: CSR practices have a positive effect on company valuation.
 
2.3. Customer-company identification
The attractiveness of corporate image h
ingredients of customer-company identification (Ahearne 
(1991), the similarity between the personality of the consumer and the perceived image of the 
organization is allowing consumers to consider themselves as an integrated part of the 
organizational entity. After all, people wish to belong in groups that have the same values as 
their own (Tajfel and Turner, 1985). Consequently, consumers that are social responsible are 
more likely to identify themselves with companies that take part in CSR initiatives. Thus, it is 
hypothesised: 
 

H3: CSR practices have a positive effect on customer
 
2.4. Recommendation intention
According to Vlachos (2011) and Wang (20
increases customer willingness to express their positive opinion about the implementing 
company in their immediate surrounding (friends, family, colleagues, etc). Moreover, 

 

real perceptions of consumers. Moreover, using data from financial statements seems 
somewhat problematic, since their reliability is, usually, criticised. 

2. The proposed Conceptual Framework 
The conceptual framework of the present study was built after an extensive review of the 
relevant literature. More specifically, numerous previous studies investigating the effect of 

were identified. The most important factors used in these studies 
rporated into the proposed conceptual framework (research model).

The present study adopts a wider view than the one, usually, followed in the literature of 
the field, since previous studies have, mostly, focused on a limited number of factors 

. On the other hand, the present study investigates the effect of 
CSR practices on nine dimensions of consumer behavior. 

2.1. Trust towards the organisation 
According to Godfrey (2005), CSR is a basic parameter for building the ethical background of 
an organisation. The perception that a company is ethical and responsible develops trusting 
relationships that are not based on contracts, but on values and principles. Pivato 
argue that trust is one of the most significant consequences of social initiatives undertaken by 
companies. Thus, it is hypothesised: 

CSR practices have a positive effect on trust towards the organisation.

(1998) argue that company valuation is being conducted upon the basis of 
the distinct characteristics of an organisation. CSR practices can be perceived as an integrated 
part of the organisational profile, allowing consumers to increase their overall valu
the company. On the same vein, Berens et al. (2005) support that CSR builds a stronger 
corporate profile, thus affecting consumer perceptions. Mohr and Webb (2005) concluded that 
when consumers perceive a company as social responsible, their overall valuation about that 
company is significantly strengthened. Therefore, the following hypothesis is proposed:

CSR practices have a positive effect on company valuation. 

company identification 
The attractiveness of corporate image has been considered as one of the most important 

company identification (Ahearne et al., 2005). According to Shamir 
(1991), the similarity between the personality of the consumer and the perceived image of the 

g consumers to consider themselves as an integrated part of the 
organizational entity. After all, people wish to belong in groups that have the same values as 
their own (Tajfel and Turner, 1985). Consequently, consumers that are social responsible are 

likely to identify themselves with companies that take part in CSR initiatives. Thus, it is 

CSR practices have a positive effect on customer-company identification.

2.4. Recommendation intention 
According to Vlachos (2011) and Wang (2013), the implementation of CSR practices 
increases customer willingness to express their positive opinion about the implementing 
company in their immediate surrounding (friends, family, colleagues, etc). Moreover, 

5 

real perceptions of consumers. Moreover, using data from financial statements seems 

the present study was built after an extensive review of the 
relevant literature. More specifically, numerous previous studies investigating the effect of 

were identified. The most important factors used in these studies 
rporated into the proposed conceptual framework (research model). 

The present study adopts a wider view than the one, usually, followed in the literature of 
the field, since previous studies have, mostly, focused on a limited number of factors 

. On the other hand, the present study investigates the effect of 

According to Godfrey (2005), CSR is a basic parameter for building the ethical background of 
an organisation. The perception that a company is ethical and responsible develops trusting 

ples. Pivato et al. (2008) 
argue that trust is one of the most significant consequences of social initiatives undertaken by 

CSR practices have a positive effect on trust towards the organisation. 

(1998) argue that company valuation is being conducted upon the basis of 
the distinct characteristics of an organisation. CSR practices can be perceived as an integrated 
part of the organisational profile, allowing consumers to increase their overall valuation about 

(2005) support that CSR builds a stronger 
corporate profile, thus affecting consumer perceptions. Mohr and Webb (2005) concluded that 

erall valuation about that 
company is significantly strengthened. Therefore, the following hypothesis is proposed: 

as been considered as one of the most important 
, 2005). According to Shamir 

(1991), the similarity between the personality of the consumer and the perceived image of the 
g consumers to consider themselves as an integrated part of the 

organizational entity. After all, people wish to belong in groups that have the same values as 
their own (Tajfel and Turner, 1985). Consequently, consumers that are social responsible are 

likely to identify themselves with companies that take part in CSR initiatives. Thus, it is 

company identification. 

13), the implementation of CSR practices 
increases customer willingness to express their positive opinion about the implementing 
company in their immediate surrounding (friends, family, colleagues, etc). Moreover, 



6 

 

Bhattacharya and Sen (2003) found that, even though consumers do not make their purchase 
decisions on the basis of corporate responsibility, they tend to recommend social responsible 
companies to their peers. Therefore, it would be interesting to hypothesise: 
 

H4: CSR practices have a positive effect on recommendation intention. 
 
2.5. Repeat patronage intention 
Repeat patronage intention has very randomly been examined in the empirical literature of the 
field (Bhattacharya and Sen, 2003; Folks and Kamins, 1999). Nevertheless, its empirical 
investigation has yielded contradictory results. Mohr et al. (2001) found out a direct positive 
effect, Salmones et al. (2005) concluded that the effect of CSR on repeat patronage intention 
is mediated through service quality, while Berens et al. (2005) identified corporate brand 
dominance as the only mediating factor. The present study posits that the relationship between 
CSR practices and repeat patronage intention is direct: 

 
H5: CSR practices have a positive effect on repeat patronage intention. 

 
2.6. Customer loyalty 
According to marketing experts (Kotler and Armstrong, 2008), customer loyalty is not only a 
significant marketing objective, but also contributes to building a coherent customer base and 
ensuring business survival. Moreover, customer loyalty is considered as a cornerstone for 
building a sustainable competitive advantage (Dick and Basu, 1994). Since the cost of gaining 
additional customers is quite significant (Chiou and Droge, 2006), retaining the existing 
customer base emerges as a major necessity. In that direction, it would be interesting to 
hypothesise whether CSR practices have a direct effect of customer loyalty: 

 
H6: CSR practices have a positive effect on customer loyalty. 

 
2.7. Willingness to pay a premium price 
Willingness to pay a premium price is considered as another dimension of customer loyalty 
(Pena et al., 2013; Toufaily et al., 2013). The impact between CSR practices and willingness 
to pay a premium price has not yet been investigated in the CSR literature. Despite that, such 
a relationship has found some theoretical support (Visser and Hollender, 2011; Werther and 
Chandler, 2011). Castaldo et al. (2009), in an empirical study of an, almost, similar field, 
found that customer trust in stores selling fair trade products has an impact on their intention 
to pay a premium price. Therefore, it would be reasonable to hypothesise that the more the 
CSR initiatives undertaken by an organisation, the higher the intention of its customers to 
accept the payment of a premium price: 
 

H7: CSR practices have a positive effect on willingness to pay a premium price. 
 
2.8. Perceived quality of services 
The international literature suggests that consumers are being influenced by the reputation of 
a company when evaluating the quality of its products and/or services (Brown and Dacin, 
1997; Souiden et al., 2006). Additionally, in the field of CSR, it has been found that social 
responsible initiatives have the ability to drive customer perceptions (Bhattacharya and Sen, 
2003; Folks and Kamins, 1999; McWilliams and Siegel, 2001; Mohr et al., 2001). Moreover, 
it has been empirically supported that CSR has an impact on various aspects of consumer 
behavior (Berens et al., 2005, 2007). Despite that, the influence of CSR practices on 



 

perceived quality of services has not been sufficiently investigated. Hence, i
interesting to hypothesise: 
 

H8: CSR practices have a positive effect on perceived quality of services.
 
2.9. Company reputation 
Company reputation is, often, consider
2000; Fombrun, 1998). Fombrun and Shanley (1990), in their study about reputation
and corporate strategy, argue that the social 
enhance company reputation. 

Hooghiemstra (2000) supports that social reporting is a communication medium that aims 
at enhanced reputation. Additionally, Carroll 
company reputation are highly correlated. Therefore, it is hypothesised:

 
H9: CSR practices have a positive effect on company reputation.

 
2.10. The impact of gender 
O’Fallon and Butterfield (2005), having reviewed more than 170 empirical studies of the 
ethical decision-making literature (1996
the perceptions about various ethical issues. Nevertheless, in the empirical studies that 
revealed a statistically significant difference, women were found to be more ethical than men 
(O’Fallon and Butterfield, 2005). Additionally, 
more ethical, sensitive towards social issues and tolerant than men (Ameen 
Borkowski and Ugras, 1992; Burton 
Hoyt, 1996). Even though there is extremel
would be quite interesting to hypothesise:
 

H10: Women are more influenced, than men, by CSR practices.
 
3. Research methodology
 
3.1. Population of the study 
The target population of the present study 
and 65. According to the most recent official data (Hellenic Statistical Authority, 2014), there 
are 6.391.057 people between the ages of 21 and 65 currently residing in Greece.

The context of the Greek econo
under crisis, while CSR is a well spread concept among its companies and consumers.
 
3.2. Measurement 
A newly developed structured questionnaire was designed in order to collect the appropriate 
empirical data. The questionnaire was divided into two sections. The first section included 
demographic questions about the person answering the questionnaire (
the second section included questions (items) measuring the ten factor
conceptual framework. 

The questionnaire is based on items that have been used by various previous studies of 
the field. The five point Likert scale was used for the measurement of all ten research factors 
(from 1 = ‘strongly disagree’, to
Greek language and then back to English by another person, in order to detect and 
consequently improve possible discrepancies.

 

perceived quality of services has not been sufficiently investigated. Hence, i

CSR practices have a positive effect on perceived quality of services.

Company reputation is, often, considered a source of competitive advantage (Deephouse, 
2000; Fombrun, 1998). Fombrun and Shanley (1990), in their study about reputation
and corporate strategy, argue that the social image of an organisation can significantly 

 
Hooghiemstra (2000) supports that social reporting is a communication medium that aims 

at enhanced reputation. Additionally, Carroll and Buchholtz (2000) perceive that CSR and 
company reputation are highly correlated. Therefore, it is hypothesised: 

SR practices have a positive effect on company reputation. 

O’Fallon and Butterfield (2005), having reviewed more than 170 empirical studies of the 
making literature (1996-2003), concluded that gender does not differentiate 

the perceptions about various ethical issues. Nevertheless, in the empirical studies that 
revealed a statistically significant difference, women were found to be more ethical than men 
(O’Fallon and Butterfield, 2005). Additionally, other social studies argue that women are 
more ethical, sensitive towards social issues and tolerant than men (Ameen 
Borkowski and Ugras, 1992; Burton and Hegarty, 1999; Deshpande, 1997; Okleshen and 
Hoyt, 1996). Even though there is extremely little research conducted in the field of CSR, it 
would be quite interesting to hypothesise: 

Women are more influenced, than men, by CSR practices. 

3. Research methodology 

The target population of the present study included Greek consumers between the ages of 21 
and 65. According to the most recent official data (Hellenic Statistical Authority, 2014), there 
are 6.391.057 people between the ages of 21 and 65 currently residing in Greece.

The context of the Greek economy was selected because Greece is a developed country 
under crisis, while CSR is a well spread concept among its companies and consumers.

A newly developed structured questionnaire was designed in order to collect the appropriate 
empirical data. The questionnaire was divided into two sections. The first section included 
demographic questions about the person answering the questionnaire (gender
the second section included questions (items) measuring the ten factor

The questionnaire is based on items that have been used by various previous studies of 
the field. The five point Likert scale was used for the measurement of all ten research factors 
(from 1 = ‘strongly disagree’, to 5 = ‘strongly agree’). All items have been translated to the 
Greek language and then back to English by another person, in order to detect and 
consequently improve possible discrepancies. 

7 

perceived quality of services has not been sufficiently investigated. Hence, it would be 

CSR practices have a positive effect on perceived quality of services. 

ed a source of competitive advantage (Deephouse, 
2000; Fombrun, 1998). Fombrun and Shanley (1990), in their study about reputation building 

of an organisation can significantly 

Hooghiemstra (2000) supports that social reporting is a communication medium that aims 
Buchholtz (2000) perceive that CSR and 

O’Fallon and Butterfield (2005), having reviewed more than 170 empirical studies of the 
does not differentiate 

the perceptions about various ethical issues. Nevertheless, in the empirical studies that 
revealed a statistically significant difference, women were found to be more ethical than men 

other social studies argue that women are 
more ethical, sensitive towards social issues and tolerant than men (Ameen et al., 1996; 

Hegarty, 1999; Deshpande, 1997; Okleshen and 
y little research conducted in the field of CSR, it 

included Greek consumers between the ages of 21 
and 65. According to the most recent official data (Hellenic Statistical Authority, 2014), there 
are 6.391.057 people between the ages of 21 and 65 currently residing in Greece. 

my was selected because Greece is a developed country 
under crisis, while CSR is a well spread concept among its companies and consumers. 

A newly developed structured questionnaire was designed in order to collect the appropriate 
empirical data. The questionnaire was divided into two sections. The first section included 

gender, age, etc.), while 
the second section included questions (items) measuring the ten factors of the proposed 

The questionnaire is based on items that have been used by various previous studies of 
the field. The five point Likert scale was used for the measurement of all ten research factors 

5 = ‘strongly agree’). All items have been translated to the 
Greek language and then back to English by another person, in order to detect and 



8 

 

Table 1 presents the ten factors of the study, the number of items used to measure each 
factor, and the sources for their measurement. 

 
3.3. Data collection 
Primary data were collected from a random sample of internet users. The target population 
was consumers between the ages of 21 and 65. An online questionnaire was created and the 
participants of the survey completed the questionnaire online. More specifically, consumers 
were asked to answer all questions having in mind their main cell phone provider. 
 
Table 1 – Factor measurement 

Factors Number 
of items 

Source 

Trust towards the 
organisation 

5 Vlachos, 2011; Martínez and del Bosque, 2013; Sparks et al., 2013 

Company valuation 4 Marin et al., 2009 

Customer-company 
identification 

4 Mael and Ashforth, 1992; Marin et al., 2009; Martínez and del 
Bosque, 2013 

Recommendation intention 5 Vlachos, 2011; Wang, 2013 

Repeat patronage intention 4 Bravo et al., 2009; Mandhachitara and Poolthong, 2011; Vlachos, 
2011 

Customer loyalty 5 Arnold and Reynolds, 2003; Jin et al., 2013; Marin et al., 2009; 
Salmones et al., 2005; Walsh and Bartikowski, 2013 

Willingness to pay a 
premium price 

4 Castaldo et al., 2008; Homburg et al., 2005 

Perceived quality of 
services 

7 Bayol, 2000; Bravo et al., 2009; Mandhachitara and Poolthong, 
2011; Roy and Eshghibc, 2013 

Company reputation 4 De Leaniz and del Bosque, 2013; Hsu, 2011; Lai et al., 2010 

CSR practices 15 Choi and La, 2013; Hsu 2011; Mandhachitara and Poolthong, 2011; 
Sparks et al., 2013; Salmones et al., 2005 

 
The link containing the questionnaire of the survey was published in various sites and 

forums. The questionnaire was accessible to a significant number of internet users (it was 
published in quite few highly popular sites and forums), and, therefore, 926 questionnaires 
were finally returned. 

In order to verify that the final sample would be representative of the average Greek 
consumer, 473 questionnaires were randomly selected by the members of the research team, 
so as all age groups of the original population were equally represented. The research period 
lasted one month (May 2014). Table 2 provides some basic characteristics of the sample. 

The final sample (473 questionnaires) is considered to be quite representative of the 
population of the study (Greek consumers between the ages of 21 and 65). More specifically, 
with a confidence level of 95% and a margin of error that equals 5%, the ideal sample for the 
given population (6.391.057 consumers) is 385 questionnaires (Creswell, 2013; Bryman and 
Bell, 2015). Moreover, according to Kline (2011), an ideal sample “size-to-parameters ratio” 
for studies using the Structural Equation Modeling (SEM) technique is 20:1, meaning that 
every factor of the study should correspond to 20 questionnaires. The present study includes 



 

ten factors (10*20=200), therefore the sample “siz
more that satisfactory. 

 

 

Characteristics
 
 

Gender
Males
Females

Age 
Between 21
Between 31
Between 41
Between 50

Education
Elementary school
High school
Technical school
Bachelor
Master / PhD
 

 
 
3.4. Validity and reliability 
The validity and reliability of the questionnaire were thoroughly examined.

The test for the content validity included: (a) consultation with academics, (b) 
consultation with practitioners, and (c) pilot testing. Several questions were slightly modified 
before the final draft was developed, based on the remarks and instructions that emerge
the above procedure. 

The construct validity test was conducted in two steps. Each of the ten factors was 
evaluated (a) for its unidimensionality and reliability, (b) for the goodness of fit to the 
proposed research model. 

The examination of the unidimensionality of each of the research factors was conducted 
using Explanatory Factor Analysis (EFA) (using Principal Component Analysis). Moreover, 
the statistical measure ‘Cronbach Alpha’ was used for estimating the reliability of the same 
factors. Moreover, the evaluation of the goodness of fit of the research factors (constructs) 
was conducted using Confirmatory Factor Analysis (CFA).

All tests concluded that the scales used for the measurement of the research factors are 
valid and reliable. The only modification that resulted from the Explanatory Factor Analysis 
was the separation of ‘CSR practices’, the only independent factor of the study, into three 
dimensions: (1) Interest for the local community and the environment (5 items), (2) Respect 
towards employees and customers (6 items), and (3) Respect towards the Law (5 items). 
Nevertheless, the measurement of ‘CSR practices’ with the use of one coherent structure was 
also possible, when examining the values provided by both EFA and 

Tables 3 and 4 present the main results of the construct validity test.
 
4. Results and discussion
The testing of the conceptual framework was made using the Structural Equation Modeling 
(SEM) technique. The estimation of the structural model was conducted 
Likelhood Estimation method. The Covariance Matrix was used as the table of entry and the 

 

ten factors (10*20=200), therefore the sample “size-to-parameters ratio” is considered to be 

Table 2 – Sample profile 
 

Characteristics Percentages 
 

 
Gender  

Males 47,6 
Females 52,4 

 
Between 21-30 years 25,6 
Between 31-40 years 27,9 
Between 41-50 years 25,8 
Between 50-65 years 20,7 

Education  
Elementary school 7,5 
High school 14,9 
Technical school 13,2 
Bachelor 43,8 
Master / PhD 20,6 

 

The validity and reliability of the questionnaire were thoroughly examined.
for the content validity included: (a) consultation with academics, (b) 

consultation with practitioners, and (c) pilot testing. Several questions were slightly modified 
before the final draft was developed, based on the remarks and instructions that emerge

The construct validity test was conducted in two steps. Each of the ten factors was 
evaluated (a) for its unidimensionality and reliability, (b) for the goodness of fit to the 

unidimensionality of each of the research factors was conducted 
using Explanatory Factor Analysis (EFA) (using Principal Component Analysis). Moreover, 
the statistical measure ‘Cronbach Alpha’ was used for estimating the reliability of the same 

reover, the evaluation of the goodness of fit of the research factors (constructs) 
was conducted using Confirmatory Factor Analysis (CFA). 

All tests concluded that the scales used for the measurement of the research factors are 
modification that resulted from the Explanatory Factor Analysis 

was the separation of ‘CSR practices’, the only independent factor of the study, into three 
dimensions: (1) Interest for the local community and the environment (5 items), (2) Respect 

employees and customers (6 items), and (3) Respect towards the Law (5 items). 
Nevertheless, the measurement of ‘CSR practices’ with the use of one coherent structure was 
also possible, when examining the values provided by both EFA and second

ables 3 and 4 present the main results of the construct validity test. 

4. Results and discussion 
The testing of the conceptual framework was made using the Structural Equation Modeling 
(SEM) technique. The estimation of the structural model was conducted 
Likelhood Estimation method. The Covariance Matrix was used as the table of entry and the 

9 

parameters ratio” is considered to be 

The validity and reliability of the questionnaire were thoroughly examined. 
for the content validity included: (a) consultation with academics, (b) 

consultation with practitioners, and (c) pilot testing. Several questions were slightly modified 
before the final draft was developed, based on the remarks and instructions that emerged from 

The construct validity test was conducted in two steps. Each of the ten factors was 
evaluated (a) for its unidimensionality and reliability, (b) for the goodness of fit to the 

unidimensionality of each of the research factors was conducted 
using Explanatory Factor Analysis (EFA) (using Principal Component Analysis). Moreover, 
the statistical measure ‘Cronbach Alpha’ was used for estimating the reliability of the same 

reover, the evaluation of the goodness of fit of the research factors (constructs) 

All tests concluded that the scales used for the measurement of the research factors are 
modification that resulted from the Explanatory Factor Analysis 

was the separation of ‘CSR practices’, the only independent factor of the study, into three 
dimensions: (1) Interest for the local community and the environment (5 items), (2) Respect 

employees and customers (6 items), and (3) Respect towards the Law (5 items). 
Nevertheless, the measurement of ‘CSR practices’ with the use of one coherent structure was 

second-order CFA. 

The testing of the conceptual framework was made using the Structural Equation Modeling 
with the Maximum 

Likelhood Estimation method. The Covariance Matrix was used as the table of entry and the 



10 

 

extraction of the Standardized Completely Solution was requested (Barrett, 2007; Bowen and 
Guo, 2011; Byrne, 2013; Hair et al., 1995; Kelloway, 1998). 

More specifically, the following measures have been examined (same measures were 
used in the CFA) (Schumacker and Lomax, 2010; Smith and McMillan, 2001): 

 
� Χ2: It should be statistically insignificant (p>0,05). 
� Normed Χ2 (X2/df): Values between 1 and 3 are desirable, while values between 1 and 5 

are acceptable. 
� Construct Reliability (C.R.): It should higher than 0,7. 
� Variance Extracted (V.E.): It should higher than 50%. 
� RMSEA: It should be less than 0,07. 
� CFI / GFI: They both should be higher than 0,9. 
 

Table 3 – Estimation of unidimensionality and reliability 
Factors Kaiser-

Mayer-
Olkin 

Bartlett’s 
Test of 

Sphericity 

Eigen-
value 

% of 
Variance 

Cronbach 
Alpha 

Trust towards the organisation 0,824 717,032* 3,070 76,760% 0,898 

Company valuation 0,833 749,320* 3,109 77,729% 0,904 

Customer-company identification 0,779 531,173* 2,718 67,940% 0,832 

Recommendation intention 0,678 696,411* 2,503 83,427% 0,888 

Repeat patronage intention 0,771 852,481* 2,716 90,527% 0,947 

Customer loyalty 0,814 499,803* 2,792 69,791% 0,853 

Willingness to pay a premium price 0,713 502,290* 2,435 81,174% 0,883 

Perceived quality of services 0,854 925,635* 4,175 59,638% 0,885 

Company reputation 0,789 624,422* 2,816 70,405% 0,843 

CSR practices (one-factor solution) 0,719 746,123* 1,123 53,761% 0,709 

CSR practices: Interest for the local 
community and the environment 

0,726 545,143* 2,514 69,471% 0,854 

CSR practices: Respect towards 
employees and customers 

0,833 597,177* 3,458 72,471% 0,837 

CSR practices: Respect towards the Law 0,811 473,789* 2,471 62,458 0,855 

* p<0,01. 

 
 
4.1. First model 
Initially, the original conceptual framework, with “CSR practices” measured with one 
coherent construct (factor), was being analysed. The structural model fitted the data well, 
while all research hypotheses found empirical support. Moreover, it seems that CSR practices 
can explain a significant percentage of the variance of the nine dependent factors (see R2 
indexes in Figure 1). 

In order to evaluate the fit of the overall model the chi-square value (X2 = 167,11 with 83 
degrees of freedom) and the p-value (p = 0,0541) were estimated. These values indicate a 
good fit of the data to the overall model. Moreover, other measures of evaluating the overall 



 

and the measurement model were used (
produced satisfactory results. 
 
Table 4 – Estimation of the goodness of fit

Factors 

Trust towards the organisation 

Company valuation 

Customer-company identification 

Recommendation intention 

Repeat patronage intention 

Customer loyalty 

Willingness to pay a premium price

Perceived quality of services 

Company reputation 

CSR practices: Interest for the local 
community and the environment 

CSR practices: Respect towards 
employees and customers 

CSR practices: Respect towards the Law

CSR practices (second-order CFA)

* p<0,01. 

 
Figure 1 demonstrates the overall structural model, along with the extracted path 

coefficients and the adjusted R
hypotheses of the study. The main findings are summarised below:
� The empirical verification of all research hypotheses underlines the significant impact of 

CSR practices on various measures of consumer 
(path) coefficients between the independent and the dependent factors are considere
be more that satisfactory, in most of the cases.

� CSR practices have the highest impact on ‘trust towards the organisation’ (r=0,75), 
‘company valuation’ (r=0,71), and ‘perceived quality of services’ (r=0,70).

� The lowest impact concerns the factors ‘cu
‘willingness to pay a premium price’ (r=0,47). Despite that, these effects are statistically 
significant, and their values are higher than those extracted in other similar empirical 
studies (e.g. Green and Peloz

� It seems that Greek consumers, especially in an external environment of economic crisis, 
really appreciate the implementation of CSR practices. Therefore, they tend to adopt a 
positive attitude towards implementing organisations. Their 
areas in significantly strengthened. Consequently, it appears that CSR practices constitute 
an important tool for enhancing
 

 

and the measurement model were used (Normed-X2, RMSEA, CFI, GFI). All these measures 
 

Estimation of the goodness of fit 
Normed 
Χ

2 
C.R. V.E. RMSEA

2,57 0,76 64,7% 0,041

2,19 0,79 75,2% 0,032

 3,07 0,83 76,0% 0,035

3,31 0,84 73,2% 0,048

2,93 0,75 63,4% 0,052

3,13 0,85 58,6% 0,056

Willingness to pay a premium price 2,84 0,72 72,8% 0,045

2,45 0,79 79,7% 0,036

2,12 0,81 77,4% 0,055

CSR practices: Interest for the local 3,74 0,91 67,3% 0,058

2,94 0,88 61,6% 0,061

CSR practices: Respect towards the Law 2,11 0,78 64,8% 0,038

order CFA) 2,19 0,85 79,3% 0,057

Figure 1 demonstrates the overall structural model, along with the extracted path 
coefficients and the adjusted R2 scores. Table 5 shows the overall findings concerning the 
hypotheses of the study. The main findings are summarised below: 

The empirical verification of all research hypotheses underlines the significant impact of 
CSR practices on various measures of consumer behavior. Moreover, the correlation

coefficients between the independent and the dependent factors are considere
be more that satisfactory, in most of the cases. 
CSR practices have the highest impact on ‘trust towards the organisation’ (r=0,75), 
‘company valuation’ (r=0,71), and ‘perceived quality of services’ (r=0,70).
The lowest impact concerns the factors ‘customer-company identification’ (r=0,37), and 
‘willingness to pay a premium price’ (r=0,47). Despite that, these effects are statistically 
significant, and their values are higher than those extracted in other similar empirical 
studies (e.g. Green and Peloza, 2011; Kalyar et al., 2013; Kotler and Armstrong, 2008).
It seems that Greek consumers, especially in an external environment of economic crisis, 
really appreciate the implementation of CSR practices. Therefore, they tend to adopt a 

ards implementing organisations. Their behavior
areas in significantly strengthened. Consequently, it appears that CSR practices constitute 

enhancing the bonds between organisations and consumers.

11 

, RMSEA, CFI, GFI). All these measures 

RMSEA CFI GFI 

0,041 0,99 0,97 

0,032 0,97 0,97 

0,035 0,93 0,94 

0,048 0,97 0,93 

0,052 0,99 0,97 

0,056 0,90 0,93 

0,045 0,96 0,93 

0,036 0,95 0,93 

0,055 0,93 0,97 

0,058 0,90 0,99 

0,061 0,89 0,95 

0,038 0,97 0,94 

0,057 0,97 0,99 

Figure 1 demonstrates the overall structural model, along with the extracted path 
scores. Table 5 shows the overall findings concerning the 

The empirical verification of all research hypotheses underlines the significant impact of 
. Moreover, the correlation 

coefficients between the independent and the dependent factors are considered to 

CSR practices have the highest impact on ‘trust towards the organisation’ (r=0,75), 
‘company valuation’ (r=0,71), and ‘perceived quality of services’ (r=0,70). 

company identification’ (r=0,37), and 
‘willingness to pay a premium price’ (r=0,47). Despite that, these effects are statistically 
significant, and their values are higher than those extracted in other similar empirical 

, 2013; Kotler and Armstrong, 2008). 
It seems that Greek consumers, especially in an external environment of economic crisis, 
really appreciate the implementation of CSR practices. Therefore, they tend to adopt a 

behavior in numerous vital 
areas in significantly strengthened. Consequently, it appears that CSR practices constitute 

the bonds between organisations and consumers. 



12 

 

Figure 1 – Main empirical results (first model) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table 5 – Results of hypotheses testing (first model) 

Hypothesis Path Path coefficient Remarks 

H1 CSR practices → Trust towards the organisation 0,75* Accepted 

H2 CSR practices → Company valuation 0,71* Accepted 

H3 CSR practices → Customer-company identification 0,37* Accepted 

H4 CSR practices → Recommendation intention 0,57* Accepted 

H5 CSR practices → Repeat patronage intention 0,56* Accepted 

H6 CSR practices → Customer loyalty 0,62* Accepted 

H7 CSR practices → Willingness to pay a premium price 0,47* Accepted 

H8 CSR practices → Perceived quality of services 0,70* Accepted 

H9 CSR practices → Company reputation 0,57* Accepted 

* p<0,01. 

Recommendation intention 

Repeat patronage intention 

Customer loyalty 

Willingness to pay a premium price 

Trust towards the organisation 

Company valuation 

Customer-company identification 

Perceived quality of services 

Company reputation 

 

CSR practices 

0,62 

0,75 

0,71 

0,37 

0,57 

0,56 

0,47 

0,70 

0,57 

R2 = 56% 

R2 = 51% 

R2 = 14% 

R2 = 32% 

R2 = 31% 

R2 = 39% 

R2 = 22% 

R2 = 49% 

R2 = 33% 



 

 
4.2. Second model 
In the second model, it is investigated whether the 
role in the relationship between “CSR practices” and consumer 
examination of the conceptual framework was conducted twice, once for men and once for 
women. As with the first analysis, the structural model fitted the data well, while all appropriate
measures (X2, p-value, Normed

Table 6 attempts a comparison between the results obtained from men and the ones 
obtained from women. It includes the path coefficients (r) and the adjusted R
genders. The main findings are summarised below:
� The impact of CSR practices on the nine factors measuring consumer 

in the case of the Greek male consumers. More s
that every aspect of the behavior
of CSR practices. For example, the mean score of the effects of CSR on consumer 
behavior is r=0,69 for men and r=0,50 for 
by the empirical data. 

� That specific finding is quite unexpected, since the previous literature (e.g. 
Butterfield, 2005) has suggested that women are more ethical (socially responsible) than 
men. Explaining that phenomenon is not an easy task, since the literature does not include 
relevant references. 

� A possible explanation may lie in the different level of pragmatism that is attributed in 
both genders. According to a simplistic definition (Murray, 20
reasonable and logical way of thinking, that is based on dealing with specific situations 
and not on ideas or theories. Men, being more pragmatists by their nature, may know that 
CSR practices do not have pure motives, but ten
(especially on a society under crisis). On the other hand, women, being less pragmatistic, 
pay more attention to the motives behind the implementation of CSR practices, and are, 
thus, more sceptical against such in
behavior of women consumers is less affected by various SCR practices.

� Nevertheless, it seems that the effect of CSR practices on the factors measuring consumer 
behavior is statistical significant, no m

 
Table 6 – Results of hypotheses testing (second model)*

  
H Path

H1 CSR practices → Trust towards the organisation

H2 CSR practices → Company 

H3 CSR practices → Customer-

H4 CSR practices → Recommendation intention

H5 CSR practices → Repeat patronage intention

H6 CSR practices → Customer 

H7 CSR practices → Willingness to pay a premium price

H8 CSR practices → Perceived quality of services

H9 CSR practices → Company reputation

 Mean score 

* All relationships are statistically significant at the p<0,01 level.

 

In the second model, it is investigated whether the gender of the respondents plays a significant
role in the relationship between “CSR practices” and consumer behavior. In that direction, the 
examination of the conceptual framework was conducted twice, once for men and once for 

lysis, the structural model fitted the data well, while all appropriate
value, Normed-X2, RMSEA, CFI, GFI) produced satisfactory results.

Table 6 attempts a comparison between the results obtained from men and the ones 
It includes the path coefficients (r) and the adjusted R

. The main findings are summarised below: 
The impact of CSR practices on the nine factors measuring consumer 
in the case of the Greek male consumers. More specifically, the empirical results indicate 

behavior of male consumers is affected more from the implication 
of CSR practices. For example, the mean score of the effects of CSR on consumer 

is r=0,69 for men and r=0,50 for women. Therefore, Hypothesis 10 is rejected 

That specific finding is quite unexpected, since the previous literature (e.g. 
) has suggested that women are more ethical (socially responsible) than 

laining that phenomenon is not an easy task, since the literature does not include 

A possible explanation may lie in the different level of pragmatism that is attributed in 
both genders. According to a simplistic definition (Murray, 2014), pragmatism constitutes
reasonable and logical way of thinking, that is based on dealing with specific situations 
and not on ideas or theories. Men, being more pragmatists by their nature, may know that 
CSR practices do not have pure motives, but tend to respect their real effect on society 
(especially on a society under crisis). On the other hand, women, being less pragmatistic, 
pay more attention to the motives behind the implementation of CSR practices, and are, 
thus, more sceptical against such initiatives from business organisations. Therefore, the 

of women consumers is less affected by various SCR practices.
Nevertheless, it seems that the effect of CSR practices on the factors measuring consumer 

is statistical significant, no matter what the gender of the respondents

Results of hypotheses testing (second model)* 
 Male Female 

Path Path coefficient 

 Trust towards the organisation 0,80 0,68 

 Company valuation 0,84 0,65 

-company identification 0,52 0,34 

 Recommendation intention 0,72 0,48 

 Repeat patronage intention 0,68 0,47 

 Customer loyalty 0,72 0,58 

 Willingness to pay a premium price 0,55 0,36 

 Perceived quality of services 0,74 0,56 

 Company reputation 0,60 0,44 

0,69 0,50 

* All relationships are statistically significant at the p<0,01 level. 

13 

gender of the respondents plays a significant 
. In that direction, the 

examination of the conceptual framework was conducted twice, once for men and once for 
lysis, the structural model fitted the data well, while all appropriate 

, RMSEA, CFI, GFI) produced satisfactory results. 
Table 6 attempts a comparison between the results obtained from men and the ones 

It includes the path coefficients (r) and the adjusted R2 scores for both 

The impact of CSR practices on the nine factors measuring consumer behavior is higher 
pecifically, the empirical results indicate 

of male consumers is affected more from the implication 
of CSR practices. For example, the mean score of the effects of CSR on consumer 

women. Therefore, Hypothesis 10 is rejected 

That specific finding is quite unexpected, since the previous literature (e.g. O’Fallon and 
) has suggested that women are more ethical (socially responsible) than 

laining that phenomenon is not an easy task, since the literature does not include 

A possible explanation may lie in the different level of pragmatism that is attributed in 
14), pragmatism constitutes a 

reasonable and logical way of thinking, that is based on dealing with specific situations 
and not on ideas or theories. Men, being more pragmatists by their nature, may know that 

d to respect their real effect on society 
(especially on a society under crisis). On the other hand, women, being less pragmatistic, 
pay more attention to the motives behind the implementation of CSR practices, and are, 

itiatives from business organisations. Therefore, the 
of women consumers is less affected by various SCR practices. 

Nevertheless, it seems that the effect of CSR practices on the factors measuring consumer 
of the respondents is. 

Male Female 
R2 

65% 46% 

70% 42% 

27% 12% 

52% 23% 

46% 22% 

51% 34% 

31% 13% 

54% 31% 

36% 19% 

48% 27% 



14 

 

 
 
4.3. Third model 
In the third model, the three-factor solution for the measurement of “CSR practices” was 
taken under consideration. The analysis of the results was significantly enhanced, as a result 
of that consideration. Once again, the structural model fitted the data well, while all appropriate 
measures (X2, p-value, Normed-X2, RMSEA, CFI, GFI) produced satisfactory results. 

Table 7 presents the causal relationships between the three sub-dimension of CSR 
(interest for the local community and the environment, respect towards employees and 
customers, respect towards the law) and the nine factors capturing various aspects of 
consumer behavior. More specifically, the path coefficients (r) and the adjusted R2 scores are 
included in the Table. Finally, the mean score of the effects between each sub-dimension of 
CSR and the nine factors of consumer behavior is being calculated. 

 
Table 7 – Results of hypotheses testing (third model)* 

 Independent factors 

 Interest for the local 
community and the 

environment 

Respect towards 
employees and 

customers 

Respect towards the 
Law 

Dependent factors Path 
coefficient 

R2 Path 
coefficient 

R2 Path 
coefficient 

R2 

Trust towards the organisation 0,45 20% 0,79 63% 0,61 37% 

Company valuation 0,47 22% 0,74 55% 0,58 33% 

Customer-company identification 0,30 9% 0,34 11% 0,29 8% 

Recommendation intention 0,42 18% 0,53 28% 0,47 22% 

Repeat patronage intention 0,36 13% 0,58 34% 0,41 17% 

Customer loyalty 0,46 21% 0,62 38% 0,46 21% 

Willingness to pay a premium price 0,43 18% 0,41 17% 0,29 8% 

Perceived quality of services 0,48 23% 0,72 51% 0,58 33% 

Company reputation 0,42 18% 0,55 30% 0,44 19% 

Mean score 0,42 18% 0,59 36% 0,46 22% 

* All relationships are statistically significant at the p<0,01 level. 

 
The main findings are summarised below: 

� The effect of every CSR dimension on the measures capturing consumer behavior is 
statistically significant. That finding was quite expected, in the light of the support that 
was established for all research hypotheses (see section 4.1). 

� Empirical results indicate that ‘respect towards employees and customers’ has the highest 
effect on consumer behavior (mean effect score, r=0,59), ‘respect towards the Law’ 
comes second (mean effect score, r=0,46) while, finally, ‘interest for the local community 
and the environment’ comes in the third place (mean effect score, r=0,42). 

� It seems that, nowadays, consumers tend to consider that corporate responsible initiatives 
towards employees and customers are the most important ingredients of a responsible 
behavior. After all, these two groups are amongst the most important stakeholders of an 
organisation. That finding may be attributed to the crisis of the Greek economy. On the 



 

one hand, employees live in constant fear of losing their jobs, while, on the 
customers experience a significant 
company takes social responsible actions towards employees and customers, the public 
opinion tends to shift in its favour. Summing up, it can be concluded that, in
under crisis, people should be in the centre of CSR practices.

� Moreover, keeping the Law (e.g. paying taxes, avoid building unethical relationships 
with official bodies) seems quite important for consumers. 

� According to all the above, it seems
since charities and actions for the improvement of the environment, while still significant, 
are not among the first priorities for Greek consumers.

 
5. Conclusions 
The present empirical study developed
used in the international CSR 
highlighting the impact of CSR practices on various aspects of consumer 
contribution lies on its implemented 
conceptualisation (proposal of a novel research model), focus (consumer 
context (economy under crisis).

The main results of the study are summarised below:
� CSR has the most significant impact on the following factors: customer trust towards the 

organization (r=0,75), company valuation (r=0,71), perceived quality of services (r=0,70) 
and customer loyalty (r=0,62).
strategies as a measure of improving the perceptions of their customers. For example, 
companies operating in industries in which trust is a major factor influencing consumer 
behavior, should really place CSR in the centre of their attention.

� In contrary with previous studies
was found that men are more sensitive to CSR practices than women.
initiatives especially aiming at male consumers should be among the strategic choices of 
business organisations. 

� When taking under consideration the separation of CSR in three sub
for the local community and the environment, respect towards employees and customers, 
respect towards the Law), the empirical analysis revealed that th
(‘respect towards employees and customers’) has a higher impact on consumer 
that the other two. ‘Respect towards the Law’ comes second, while ‘interest for the local 
community and the environment’ has the least strong impact on 
These empirical results shift the ‘classical’ model of CSR, since consumers seem to place 
more importance on social actions towards employees and customers and not on charities 
and actions for the improvement of the environment. 
quite important in the mind of consumers.

 
All these observations contribute to the understanding of the impact of CSR under crisis. 

In a country under crisis, consumers prefer companies to be responsible to their employees 
(respect of work rights, offer of fair wages and a safe work environment) and their customers 
(ethical conduct, offer of quality services in a law price). Additionally, consumers expect 
companies to respect the existing laws, regularly pay their taxes and 
intertwining interests with the government. These results urge companies, operating in 
economies under crisis, to redesign their CSR strategy, focusing on employees, customers and 
respect towards the law. 

 

 

one hand, employees live in constant fear of losing their jobs, while, on the 
significant decrease in their family income. Therefore, when a 

company takes social responsible actions towards employees and customers, the public 
opinion tends to shift in its favour. Summing up, it can be concluded that, in
under crisis, people should be in the centre of CSR practices. 
Moreover, keeping the Law (e.g. paying taxes, avoid building unethical relationships 
with official bodies) seems quite important for consumers.  
According to all the above, it seems that there is a shift in the classical model of CSR, 
since charities and actions for the improvement of the environment, while still significant, 
are not among the first priorities for Greek consumers. 

study developed an original conceptual framework that has never been 
CSR literature. Future studies can adopt the same approach, further 

highlighting the impact of CSR practices on various aspects of consumer 
implemented methodology (synthesis of various previous studies), 

conceptualisation (proposal of a novel research model), focus (consumer 
context (economy under crisis). 

The main results of the study are summarised below: 
most significant impact on the following factors: customer trust towards the 

organization (r=0,75), company valuation (r=0,71), perceived quality of services (r=0,70) 
and customer loyalty (r=0,62). Companies facing problems in these areas can utilise CSR 
trategies as a measure of improving the perceptions of their customers. For example, 

companies operating in industries in which trust is a major factor influencing consumer 
, should really place CSR in the centre of their attention. 

h previous studies of similar fields (ethical decision-making literature
was found that men are more sensitive to CSR practices than women.
initiatives especially aiming at male consumers should be among the strategic choices of 

When taking under consideration the separation of CSR in three sub-dimensions (interest 
for the local community and the environment, respect towards employees and customers, 
respect towards the Law), the empirical analysis revealed that the second dimension 
(‘respect towards employees and customers’) has a higher impact on consumer 
that the other two. ‘Respect towards the Law’ comes second, while ‘interest for the local 
community and the environment’ has the least strong impact on consumer 
These empirical results shift the ‘classical’ model of CSR, since consumers seem to place 
more importance on social actions towards employees and customers and not on charities 
and actions for the improvement of the environment. Moreover, keeping the law seems 
quite important in the mind of consumers. 

All these observations contribute to the understanding of the impact of CSR under crisis. 
In a country under crisis, consumers prefer companies to be responsible to their employees 
(respect of work rights, offer of fair wages and a safe work environment) and their customers 
(ethical conduct, offer of quality services in a law price). Additionally, consumers expect 
companies to respect the existing laws, regularly pay their taxes and 
intertwining interests with the government. These results urge companies, operating in 
economies under crisis, to redesign their CSR strategy, focusing on employees, customers and 

15 

one hand, employees live in constant fear of losing their jobs, while, on the other, 
decrease in their family income. Therefore, when a 

company takes social responsible actions towards employees and customers, the public 
opinion tends to shift in its favour. Summing up, it can be concluded that, in an economy 

Moreover, keeping the Law (e.g. paying taxes, avoid building unethical relationships 

that there is a shift in the classical model of CSR, 
since charities and actions for the improvement of the environment, while still significant, 

an original conceptual framework that has never been 
literature. Future studies can adopt the same approach, further 

highlighting the impact of CSR practices on various aspects of consumer behavior. Its main 
methodology (synthesis of various previous studies), 

conceptualisation (proposal of a novel research model), focus (consumer behavior), and 

most significant impact on the following factors: customer trust towards the 
organization (r=0,75), company valuation (r=0,71), perceived quality of services (r=0,70) 

Companies facing problems in these areas can utilise CSR 
trategies as a measure of improving the perceptions of their customers. For example, 

companies operating in industries in which trust is a major factor influencing consumer 

making literature), it 
was found that men are more sensitive to CSR practices than women. Therefore, CSR 
initiatives especially aiming at male consumers should be among the strategic choices of 

dimensions (interest 
for the local community and the environment, respect towards employees and customers, 

e second dimension 
(‘respect towards employees and customers’) has a higher impact on consumer behavior 
that the other two. ‘Respect towards the Law’ comes second, while ‘interest for the local 

consumer behavior. 
These empirical results shift the ‘classical’ model of CSR, since consumers seem to place 
more importance on social actions towards employees and customers and not on charities 

Moreover, keeping the law seems 

All these observations contribute to the understanding of the impact of CSR under crisis. 
In a country under crisis, consumers prefer companies to be responsible to their employees 
(respect of work rights, offer of fair wages and a safe work environment) and their customers 
(ethical conduct, offer of quality services in a law price). Additionally, consumers expect 
companies to respect the existing laws, regularly pay their taxes and avoid developing 
intertwining interests with the government. These results urge companies, operating in 
economies under crisis, to redesign their CSR strategy, focusing on employees, customers and 



16 

 

References 
1. Ahearne, M., Bhattacharya, C. B., & and Gruen, T. W. (2005). Antecedents and 

Consequences of Customer-Company Identification: Expanding the Role of 
Relationship Marketing. Journal of Applied Psychology, 90 (3), 574-585. 

2. Ameen, E. C., Guffey, D. M., & McMillan, J. J. (1996). Gender differences in 
determining the ethical sensitivity of future accounting professionals. Journal of 
Business Ethics, 15 (5), 591-597. 

3. Barrett, P. (2007). Structural equation modelling: Adjudging model fit. Personality 
and Individual differences, 42 (5), 815-824. 

4. Berens, G., van Riel, C. B. M., & van Bruggen, G. H. (2005). Corporate Associations 
and Consumer Product Responses: The Moderating Role of Corporate Brand 
Dominance. Journal of Marketing, 69, 35-48. 

5. Berens, G., van Riel, C. B. M., & van Rekom, J. (2007). The CSR-quality trade-off: 
when can corporate social responsibility and corporate ability compensate each 
other?”. Journal of Business Ethics, 74, 233-252. 

6. Bhattacharya, C. B., & and Sen, S. (2003). Consumer-company identification: a 
framework for understanding consumers’ relationships with companies. Journal of 
Marketing, 67 (2), 76-88. 

7. Bhattacharya, C. B., & Sen, S. (2004). Doing Better at Doing Good: When, Why, and 
How Consumers Respond to Corporate Social Initiatives. California Management 
Review, 47 (1), 9-24. 

8. Bhattacharya, R., Devinney, T. M., & Pillutla, M. M. (1998). A Formal Model of 
Trust Based on Outcomes. The Academy of Management Review, 23 (3), 459-472. 

9. Borkowski, S. C. and Ugras, Y. J. (1992). The ethical attitudes of students as a 
function of age, sex, and experience. Journal of Business Ethics, 11 (12), 961-979. 

10. Bowen, N. K., & Guo, S. (2011). Structural equation modeling. UK: Oxford 
University Press. 

11. Bravo, R., Montaner, T., & Pina, J. M. (2009). The role of bank image for customers 
versus non-customers. International Journal of Bank Marketing, 27 (4), 315-334. 

12. Brown, T., & Dacin, P. (1997). The Company and the Product: Corporate 
Associations and Consumer Product Responses. Journal of Marketing, 61, 68-84. 

13. Bryman, A., & Bell, E. (2015). Business research methods. UK: Oxford University 
Press. 

14. Burton, B. K., & Hegarty, W. H. (1999). Some determinants of student corporate 
social responsibility orientation. Business and Society, 38 (2), 188-206. 

15. Byrne, B. M. (2013). Structural equation modeling with AMOS: Basic concepts, 
applications, and programming. UK: Routledge. 

16. Carroll, A. B., & Buchholtz, A. K. (2000). Business and Society: Ethics and 
Stakeholder Management, Cincinnati, OH: Ohio South-Western College Publishing. 

17. Castaldo, S., Perrini, F., Misani, N., & Tencati, A. (2009). The Missing Link Between 
Corporate Social Responsibility and Consumer Trust: The Case of Fair Trade 
Products. Journal of Business Ethics, 84, 1-15. 

18. Cheng, B., Ioannou, I., & Serafeim, G. (2014). Corporate social responsibility and 
access to finance. Strategic Management Journal, 35 (1), 1-23. 

19. Chiou, J. S., & Droge, C. (2006). Service quality, trust, specific asset investment, and 
expertise: direct and indirect effects in a satisfaction-loyalty framework. Journal of the 
Academy of Marketing Science, 34 (4), 613-627. 



 

20. Choi, B., & La, S. (2013). The impact of corporate social responsibility (CSR) and 
customer trust on the restoration of loyalty after service failure and recovery. 
of Services Marketing, 27 (3), 223

21. Creswell, J. W. (2013). 
approaches. USA: Sage publications.

22. CSR Europe, (2009). 
Retrieved at 10-09-2013 from: http://goo.gl/K3eY8F.

23. Deephouse, D. L. (2000). Media reputation as a strategic resource: an integration of 
mass communication and resource
1091-1112. 

24. Deshpande, S. P. (1997). Managers’ perception of
sex, age, and level of education, 

25. Di Giuli, A., & Kostovetsky, L. (2014). 
green? Politics and corporate social responsibility. 
111 (1), 158-180. 

26. Dick, A., & Basu, K. (1994). Customer loyalty: toward an integrated conceptual 
framework. Journal of Academy of Marketing Science

27. Ducassy, I. (2013). Does Corporate Social Responsibility Pay Off in Times of Crisis? 
An Alternate Perspective on the Relationship between Financial and Corporate Social 
Performance. Corporate Social Responsibility and Environmental Management
(3), 157-167. 

28. Folks, V. S., & Kamins, M. A. (1999). 
unethical actions on consumers attitudes. 
259. 

29. Fombrun, C. J. (1998). Indices of corporate reputation: an analysis of medi
and social monitors. Corporate Reputation Review

30. Fombrun, C. J., & Shanley, M. (1990). What’s in a name? Reputation building and 
corporate strategy. Academy of Management Journal

31. Gangi, F., & Trotta, C. (2013).
crises: an empirical survey of European SRFs performance. 
Governance, 19 (2), 371

32. Glavopoulos, E., Bersimis, S., Georgakel
Investigating the factors affecting companies’ attitudes towards CSR and CER during 
the fiscal crisis in Greece. 
(11), 1612-1641. 

33. Godfrey, P. C. (2005). The Relationshi
Shareholder Wealth: a Risk Management Perspective. 
Review, 30 (4), 777-798.

34. Green, T., & Peloza, J. (2011). How Does Corporate Social Responsibility Create 
Value for Consumers. 

35. Hair, F., Anderson, R., Tatham, R., & Black, W. (1995). 
with Readings, London: Prentice

36. Hellenic Statistical Authority (2014). 
at 10-10-2015, from: http://www.statistics.gr/documents/20181/6333995c
af1a-dd05c83dab25. 

37. Herzig, C., & Moon, J. (2013). Discourses on corporate social ir/responsibility in the 
financial sector. Corporate Social Responsibility and Environmental Management
157-167. 

 

Choi, B., & La, S. (2013). The impact of corporate social responsibility (CSR) and 
customer trust on the restoration of loyalty after service failure and recovery. 

, 27 (3), 223-233. 
Creswell, J. W. (2013). Research design: Qualitative, quantitative, and mixed methods 

Sage publications. 
CSR Europe, (2009). A CSR Europe Contribution to the European Commission

2013 from: http://goo.gl/K3eY8F. 
Deephouse, D. L. (2000). Media reputation as a strategic resource: an integration of 
mass communication and resource-based theories. Journal of Management

Deshpande, S. P. (1997). Managers’ perception of proper ethical conduct: the effect of 
sex, age, and level of education, Journal of Business Ethics, 16 (1), 79
Di Giuli, A., & Kostovetsky, L. (2014). Are red or blue companies more likely to go 
green? Politics and corporate social responsibility. Journal of Financial Economics

Dick, A., & Basu, K. (1994). Customer loyalty: toward an integrated conceptual 
Journal of Academy of Marketing Science, 22 (2), 99-113.

Ducassy, I. (2013). Does Corporate Social Responsibility Pay Off in Times of Crisis? 
An Alternate Perspective on the Relationship between Financial and Corporate Social 

Corporate Social Responsibility and Environmental Management

Folks, V. S., & Kamins, M. A. (1999). Effects of information about firms, ethical and 
unethical actions on consumers attitudes. Journal of Consumer Psychology

Fombrun, C. J. (1998). Indices of corporate reputation: an analysis of medi
Corporate Reputation Review, 1 (4), 327-340. 

Fombrun, C. J., & Shanley, M. (1990). What’s in a name? Reputation building and 
Academy of Management Journal, 33 (2), 233-256.

Gangi, F., & Trotta, C. (2013). The ethical finance as a response to the financial 
crises: an empirical survey of European SRFs performance. Journal of Management & 

, 19 (2), 371-394. 
Glavopoulos, E., Bersimis, S., Georgakellos, D., & Sfakianakis, M. (2013). 
Investigating the factors affecting companies’ attitudes towards CSR and CER during 
the fiscal crisis in Greece. Journal of Environmental Planning and Management

Godfrey, P. C. (2005). The Relationship between Corporate Philanthropy and 
Shareholder Wealth: a Risk Management Perspective. Academy of Management 

798. 
Green, T., & Peloza, J. (2011). How Does Corporate Social Responsibility Create 
Value for Consumers. Journal of Consumer Marketing, 28 (1), 48-56.
Hair, F., Anderson, R., Tatham, R., & Black, W. (1995). Multivariate Data Analysis 

, London: Prentice-Hall International. 
Hellenic Statistical Authority (2014). 2011 Population and Housing Census

015, from: http://www.statistics.gr/documents/20181/6333995c

Herzig, C., & Moon, J. (2013). Discourses on corporate social ir/responsibility in the 
Corporate Social Responsibility and Environmental Management

17 

Choi, B., & La, S. (2013). The impact of corporate social responsibility (CSR) and 
customer trust on the restoration of loyalty after service failure and recovery. Journal 

Research design: Qualitative, quantitative, and mixed methods 

A CSR Europe Contribution to the European Commission. 

Deephouse, D. L. (2000). Media reputation as a strategic resource: an integration of 
Journal of Management, 26 (6), 

proper ethical conduct: the effect of 
, 16 (1), 79-85. 

Are red or blue companies more likely to go 
rnal of Financial Economics, 

Dick, A., & Basu, K. (1994). Customer loyalty: toward an integrated conceptual 
113. 

Ducassy, I. (2013). Does Corporate Social Responsibility Pay Off in Times of Crisis? 
An Alternate Perspective on the Relationship between Financial and Corporate Social 

Corporate Social Responsibility and Environmental Management, 20 

Effects of information about firms, ethical and 
Journal of Consumer Psychology, 8 (3), 243-

Fombrun, C. J. (1998). Indices of corporate reputation: an analysis of media rankings 
 

Fombrun, C. J., & Shanley, M. (1990). What’s in a name? Reputation building and 
256. 

The ethical finance as a response to the financial 
Journal of Management & 

los, D., & Sfakianakis, M. (2013). 
Investigating the factors affecting companies’ attitudes towards CSR and CER during 

Journal of Environmental Planning and Management, 57 

p between Corporate Philanthropy and 
Academy of Management 

Green, T., & Peloza, J. (2011). How Does Corporate Social Responsibility Create 
56. 

Multivariate Data Analysis 

2011 Population and Housing Census. Retrieved 
015, from: http://www.statistics.gr/documents/20181/6333995c-1cbc-4fbd-

Herzig, C., & Moon, J. (2013). Discourses on corporate social ir/responsibility in the 
Corporate Social Responsibility and Environmental Management, 20, 



18 

 

38. Hooghiemstra, R. (2000). Corporate communication and impression management - 
new perspectives on why companies engage in corporate social reporting. Journal of 
Business Ethics, 27 (1-2), 55-68. 

39. Kalyar, M. N., Rafi, N., & Kalyar, A. N. (2013). Factors Affecting Corporate Social 
Responsibility: an Empirical Study. Systems Research and Behavioral Science, 30 (4), 
495-505. 

40. Kelloway, K. (1998). Using LISREL for Structural Equation Modeling: A 
Researcher’s Guide, London: SAGE Publications. 

41. Kline, R. B. (2011). Principles and Practice of Structural Equation Modeling. New 
York: The Guilford Press. 

42. Korschun, D., Bhattacharya, C. B., & Swain, S. D. (2014). Corporate social 
responsibility, customer orientation, and the job performance of frontline employees. 
Journal of Marketing, 78 (3), 20-37. 

43. Kotler, P., & Armstrong, G. (2008). Principles of Marketing, Upper Saddle River, NJ: 
Pearson Education. 

44. Lai, C.-S., Chiu, C.-J., Yang, C.-F., & Pai, D.-C. (2010). The Effects of Corporate 
Social Responsibility on Brand Performance: the Mediating Effect of Industrial Brand 
Equity and Corporate Reputation. Journal of Business Ethics, 95 (3), 457-469. 

45. Maignan, I., Ferrell, O. C., & Ferrell, L. (2005). A Stakeholder Model for 
Implementing Social Responsibility in Marketing. European Journal of Marketing, 39 
(9), 956-977. 

46. Mandhachitara, R., & Poolthong, Y. (2011). A model of customer loyalty and 
corporate social responsibility. Journal of Services Marketing, 25 (2), 122-133. 

47. Marin, L., Ruiz, S., & Rubio, A. (2009). The Role of Identity Salience in the Effects 
of Corporate Social Responsibility on Consumer Behavior. Journal of Business Ethics, 
84, 65-78. 

48. Martínez, P., & del Bosque, I. R. (2013). CSR and customer loyalty: the roles of trust, 
customer identification with the company and satisfaction. International Journal of 
Hospitality Management, 35, 89-99. 

49. McWilliams, A., & Siegel, D. S. (2001). Corporate social responsibility: a theory of 
the firm perspective. Academy of Management Review, 26, 117-127. 

50. Mohr, L., Webb, D., & Harris, K. (2001). Do Consumers Expect Companies to Be 
Socially Responsible? The Impact of Corporate Social Responsibility on Buying 
Behavior. Journal of Consumer Affairs, 35 (1), 45-72. 

51. Mohr, L.A., & Webb, D. J. (2005). The effects of corporate social responsibility and 
price on consumer responses. Journal of Consumer Affairs, 39 (1), 121-147. 

52. Murray, D. L. (2014). Pragmatism. New Zealand: The Floating Press. 
53. O’Fallon, M., & Butterfield, K. D. (2005). A review of the empirical ethical decision-

making literature: 1996-2003. Journal of Business Ethics, 59 (4), 375-413. 
54. Okleshen, M., & Hoyt, R. (1996). A cross-cultural comparison of ethical perspectives 

and decision approaches of business students: United States of America versus New 
Zealand. Journal of Business Ethics, 15 (5), 537-549. 

55. Pena, A. I. P., Jamilena, D. M. F., & Molina, M. A. R. (2013). Antecedents of loyalty 
toward rural hospitality enterprises: the moderating effect of the customer's previous 
experience. International Journal of Hospitality Management, 34, 127-137. 

56. 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. 



 

57. Salmones, M. G., Crespo, A. H., & del Bosque, I. R. (2005). 
Social Responsibility on Loyalty and Valuation of Services. 
Ethics, 61 (4), 369-385.

58. Schmitz, J., & Schrader, J. (20
review of the literature. 

59. Schumacker, R. E., & Lomax, R. G. (2010). 
Equation Modeling, New York: Routledge Academic.

60. Shamir, B. (1991). Meaning, Self, and Motivation in Organizations. 
Studies, 12 (3), 405-424.

61. Smith, T. D., & and McMillan, B. F. (2001). A primer of model fit indices in 
structural equation model. 
Association, New Orleans, LA, February 1
files.eric.ed.gov/fulltext/ED449231.pdf.

62. Souiden, N., Kassim, N. M., & Hong, H. J. (2006). 
dimensions on consumers' product evaluation: a 
Journal of Marketing, 

63. Tajfel, H., & Turner, J. C. (1985). 
Behavior”, In S. G. Worchel, & W. Austin (Eds.). 
Chicago: Nelson-Hall, 7

64. Toufaily, E., Ricard, L., & Perrien, J. (2013). Customer loyalty to a commercial 
website: descriptive meta
integrative model. Journal of Business Research

65. Visser, W., & Hollender, J. (2011). 
DNA of Business, UK: Wiley.

66. Vlachos, P. (2011). Corporate Social Responsibility: attributions, Loyalty and the 
Mediating Role of Trust
pavlosvlachos/4. 

67. Walsh, G., & Bartikowski, B. (2013). 
responsibility associations as antecedents of customer satisfaction cross
Journal of Business Research

68. Wang, R. (2013). Modeling Corporate Social Performance and Job Pursuit Intention: 
Mediating Mechanisms of Corporate Reputation and Job Advancement Prospects. 
Journal of Business Ethics

69. Werther, W. B., & Chandler, D. B. (2011). Strategic Corporate Social Responsibility: 
Stakeholders in a Global Environment. USA: SAGE Publications.

70. WPP, (2011). Corporate Responsibility Report 2010/2011
from: http://www.wpp.com/corporateresponsibilityreports/2010/downloads/wpp_cr_
report_2011.pdf. 

71. Xu, Y., Yu, W., & He, Y. (2014). Research Review and Prospect of Corporate Social 
Responsibility and Consumers’ Purchase Intention. 
on Management Science and Engineering Management

 

 

Salmones, M. G., Crespo, A. H., & del Bosque, I. R. (2005). Influence of Corporate 
Social Responsibility on Loyalty and Valuation of Services. Journal of Business 

385. 
Schmitz, J., & Schrader, J. (2015). Corporate social responsibility: A microeconomic 
review of the literature. Journal of Economic Surveys, 29 (1), 27-45.
Schumacker, R. E., & Lomax, R. G. (2010). A Beginner's Guide to Structural 

, New York: Routledge Academic. 
B. (1991). Meaning, Self, and Motivation in Organizations. 

424. 
Smith, T. D., & and McMillan, B. F. (2001). A primer of model fit indices in 
structural equation model. Annual Meeting of the Southwest Educational Research 

ssociation, New Orleans, LA, February 1-3, Retrieved at 10-10-
files.eric.ed.gov/fulltext/ED449231.pdf. 
Souiden, N., Kassim, N. M., & Hong, H. J. (2006). The effect of corporate branding 
dimensions on consumers' product evaluation: a cross-cultural analysis.

 40 (7/8), 825-845. 
Tajfel, H., & Turner, J. C. (1985). The Social Identity Theory of Intergroup 

”, In S. G. Worchel, & W. Austin (Eds.). Psychology of Intergroup Relations
l, 7-24. 

Toufaily, E., Ricard, L., & Perrien, J. (2013). Customer loyalty to a commercial 
website: descriptive meta-analysis of the empirical literature and proposal of an 

Journal of Business Research, 66, 1436-1447. 
der, J. (2011). The Age of Responsibility: CSR 2.0 and the New 

, UK: Wiley. 
Corporate Social Responsibility: attributions, Loyalty and the 

Mediating Role of Trust. Retrieved at 10-09-2013 from: http://works.bepress.com/

Walsh, G., & Bartikowski, B. (2013). Exploring corporate ability and social 
responsibility associations as antecedents of customer satisfaction cross
Journal of Business Research, 66 (8), 989-995. 

, R. (2013). Modeling Corporate Social Performance and Job Pursuit Intention: 
Mediating Mechanisms of Corporate Reputation and Job Advancement Prospects. 
Journal of Business Ethics, 117 (3), 569-582. 
Werther, W. B., & Chandler, D. B. (2011). Strategic Corporate Social Responsibility: 
Stakeholders in a Global Environment. USA: SAGE Publications. 

Corporate Responsibility Report 2010/2011. Retrieved at 10
from: http://www.wpp.com/corporateresponsibilityreports/2010/downloads/wpp_cr_

Xu, Y., Yu, W., & He, Y. (2014). Research Review and Prospect of Corporate Social 
Responsibility and Consumers’ Purchase Intention. Seventh International Conference 
on Management Science and Engineering Management, 675-686. 

19 

Influence of Corporate 
Journal of Business 

15). Corporate social responsibility: A microeconomic 
45. 

A Beginner's Guide to Structural 

B. (1991). Meaning, Self, and Motivation in Organizations. Organization 

Smith, T. D., & and McMillan, B. F. (2001). A primer of model fit indices in 
Annual Meeting of the Southwest Educational Research 

-2015, from: http:// 

The effect of corporate branding 
cultural analysis. European 

The Social Identity Theory of Intergroup 
Psychology of Intergroup Relations, 

Toufaily, E., Ricard, L., & Perrien, J. (2013). Customer loyalty to a commercial 
analysis of the empirical literature and proposal of an 

The Age of Responsibility: CSR 2.0 and the New 

Corporate Social Responsibility: attributions, Loyalty and the 
2013 from: http://works.bepress.com/ 

Exploring corporate ability and social 
responsibility associations as antecedents of customer satisfaction cross-culturally, 

, R. (2013). Modeling Corporate Social Performance and Job Pursuit Intention: 
Mediating Mechanisms of Corporate Reputation and Job Advancement Prospects. 

Werther, W. B., & Chandler, D. B. (2011). Strategic Corporate Social Responsibility: 

Retrieved at 10-09-2013 
from: http://www.wpp.com/corporateresponsibilityreports/2010/downloads/wpp_cr_ 

Xu, Y., Yu, W., & He, Y. (2014). Research Review and Prospect of Corporate Social 
nth International Conference