A Meta-analysis of Corporate Social Responsibility Effects: The Role of Stakeholder Type and Country Factors

Although research indicates that corporate social responsibility (CSR) can yield positive consumer responses, the challenge remains for companies, especially multinational ones, to effectively tailor CSR activities across different countries to achieve favorable outcomes. To address this, we classify CSR activities based on stakeholder theory into core and extended CSR types. We then introduce a meta-analytic framework that incorporates five country factors to examine how they affect the differential effects of these CSR types. Using a dataset comprising 940 effect sizes from 202 papers across 43 countries on six continents, we find that core CSR generally elicits more positive consumer responses than extended CSR, and that this effect is moderated by country factors. The positive differential effect of core over extended CSR is greater in societies that prioritize secular-rational values over traditional values, and survival values over self-expression values. Additionally, this positive differential effect increases with greater internet penetration but decreases with higher national economic growth rates and tertiary school enrollment. These findings advance the understanding of cross-country differences in CSR effects and types, offering valuable insights for international marketing managers.