Linking CSR to Marketing Investment Decisions: Adoption, Benefits and Barriers

The study examines the relationship between Corporate Social Responsibility (CSR) adoption and firms’ future CSR investment, with a particular focus on the mechanisms and conditions that shape this relationship, drawing on the business case perspective and the resource-based view. A quantitative research design was employed using survey data collected from 568 business executives in Greece. Structural Equation Modeling (SEM) was applied to test the proposed relationships. The findings indicate that CSR adoption has a significant positive impact on future CSR investment, confirming that CSR engagement evolves into a sustained strategic commitment. Perceived benefits are found to play significant mediating roles, suggesting that firms increase future CSR investment when they recognize the value generated by CSR. In contrast, institutional barriers negatively moderate this relationship, weakening the effect of CSR adoption. The study demonstrates that the continuation of CSR investment is driven by internal reinforcement mechanisms and external conditions rather than purely by financial constraints. It offers empirical evidence that CSR adoption initiates a self-reinforcing process supported by perceived value decisions. The findings provide practical insights, emphasizing the importance of strengthening institutional frameworks and enhancing the perceived benefits of CSR to foster long-term investment in sustainable business practices.