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Corporate social responsibility has been a topic of wide and speculative interest to both managers and academics. Little careful and systematic empirical research, however, has been done in this area. This article presents an analysis based on the food-processing industry, as well as two supporting studies, followed by theoretical explanation and normative implications. Middle ground is demonstrated to be the place occupied by the most commercially successful firms.
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Bowman et al. (1975) studied this question.
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