This paper presents a literature review focused on the dynamics of Corporate Social Responsibility (CSR) at both the individual firm and market levels. It begins by establishing the increasing importance of CSR and its potential profitability, referencing works by Porter and others. The review then delves into empirical studies that investigate the benefits of CSR, noting the debate around causality and the mediating role of intangible resources. It explores the connection between competition and social performance, signaling motives for CSR, and the role of CSR as a form of product differentiation. The review highlights the scarcity of dynamic analyses of CSR, noting that existing models often fail to explain the variance in CSR activities across countries and industries. The aim of this model is to address these aspects and develop a framework that explains the variance of CSR activities and addresses the question of whether these activities are sustainable.
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