Sustainability orientation, CSR implementation and new venture growth

Building on the upper echelons theory and sustainability orientation (SO) literature, this paper aims to examine the possibility that the relationship between chief executive officers’ (CEOs’) SO and venture growth might be mediated by levels of corporate social responsibility (CSR) implementation.

The authors used data obtained from 211 new ventures operating in Ghana. Multiple regression analysis was used to test the hypotheses.

The authors found that CSR implementation mediates the relationship between SO and venture growth. In addition, the authors found that, at higher levels of financial slack, the effect of SO on CSR implementation is attenuated. However, the results show that, at higher levels of CEO power, the influence of SO on CSR implementation is amplified.

To the best of the authors’ knowledge, this study is among the first to examine the mediating role of CSR implementation in the relationship between SO and venture growth and also examines two internal contingency factors (i.e. CEO power and financial slack) on this association.