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Enhanced mainly by the growing global media and recent unscrupulous behavior of high profile firms coming to light (e.g. Enron), the criticism of business is more far-reaching than ever before (Smith). CSR has become a hot topic in media circles; with journalists often provide free publicity of a firm’s commitment or lack of commitment to CSR. This free publicity, whether positive or negative, helps heighten public awareness of CSR by reducing information asymmetry (McWilliams). Thus in many cases, the endorsement of CSR by companies has been the result of well publicized attacks on the firms for being too classically focused – whereby tangible resources are seen only as a means to an end in the achievement of profit (Henderson)...
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