How social, environmental, and economic CSR affects consumer‐perceived value: Does perceived consumer effectiveness make a difference?

This study analyzes the influence of consumer‐perceived dimensions of corporate social responsibility (CSR) from a sustainable development approach (i.e. economic, social, and environmental) on the dimensions of perceived value (i.e. utilitarian, emotional, and social value). The study also analyzes the moderating effect of perceived consumer effectiveness (PCE) in the value generation process around CSR. A theoretical model is estimated with data from 661 consumers of Inditex or Danone products, leading firms in the textile and dairy sectors, respectively. Results indicate that functional value is determined by economic and social dimensions of CSR. Emotional value can be enhanced through the three CSR dimensions but social dimension has the greatest influence. Finally, firms can only influence social value through social CSR initiatives because it is unaffected by environmental and economic dimensions. The moderating effect of PCE is confirmed by the influence of the social dimension of CSR on the three types of value and the influence of the economic dimension of CSR on consumer functional value.