Paper Title
The Effects of CSR Activities on Environmental Protection: The Moderating Role of Internationalization

According to the reasoning of stakeholder and neo-institutional view, firms gain legitimacy by demonstrating their commitment to institutional rules. Today, many firms sell their image as a responsible corporate citizen in the institutionalized society by showing their investments in Corporate Social Responsibility (CSR). The present paper well analyzes the effectiveness of different CSR activities on environmental protection. This paper also analyzes the effectiveness of each CSR activities under the condition of internationalization, which diversifies the institutional settings of the firm. By testing our hypotheses on a sample of 103 firms that were operating in Korea in 2016, we find that both internal and external CSR activities positively influence environmental protection. However, in the context of internationalization, we find that only external CSR activity’s influence on environmental protection gets positively moderated. Contextualizing the relationship between internationalization and the effect of CSR activities on environmental protection enhances our understanding of the stakeholder and neo-institutional approach of CSR.