Exploring Corporate Social Responsibility (CSR) Theories: A Thematic Review, Synthesis of Literature and New Research Agenda

Abstract

The study carried out the exploration and thematic review of corporate social responsibility theories, as well as synthesis of relevant literature, and proffering new research agenda. The study found that corporate social responsibility theories are integral concepts, principles and hypotheses about corporate organizations' business and socio-economic environment sustainability, and how they relate to the welfare explanation of the operating environment communities, and to each other as a system. Corporate social responsibility theories thematically reviewed and literature synthesis include: stakeholder theory, social contract theory, instrumental theories, integrative theories, political theories, ethical theories, disclosure theory, signaling theory and legitimacy theory. The found new research agenda are: the resource dependency theory, organizational embeddedness theory and upper echelon theory. Based on our findings, we concluded that induction of resource dependency, organizational embeddedness and upper echelon theories, found as new research agenda, will add value to the body of knowledge, and strict adherence to the tenets of the theories will help to expand the frontiers of corporate social responsibility theorizing and enrichment of literature. Consequent upon these, we recommend the adoption of the new research agenda to further enrich the community-company integration, environmental and corporate sustainability.