**3. CSR strategies**

Many theories have been actively applied in the field of CSR, such as the theories of stakeholders' theory [147], resource-based view [148], market-based view [149, 150], branding strategy [151, 152], strategic conversations [153], public-private partnerships [154], and emergent strategy [155] to understand CSR strategies.

While it is assumed that firms act socially responsible because they anticipate some benefits, theories of CSR assert that firms engage in profit-maximizing CSR, being their principal motivation [156, 157]. This leads to the identification of diverse CSR strategies.

CSR strategies could be divided into two categories: (1) strategic CSR associated to high level of commitment and implies a more comprehensive implementation of CSR within a firm and (2) responsive CSR that is mainly determined by external expectations and reporting standards, and corresponds to the lowest level of commitment [17–19].
