Do owner-manager demographics in SMEs matter for corporate social responsibility?

Equilib ium. Qua e ly Jou nal o Economics and Economic Policy Volume 17 Issue 2 June 2022 p-ISSN 1689-765X, e-ISSN 2353-3293 www.economic-policy.pl Copy igh © Ins y u Badań Gospoda czych / Ins i u e o Economic Resea ch (Poland) This is an Open Access a icle dis ibu ed unde he e ms o he C ea i e Commons A ibu ion License (h p://c ea i ecommons.o g/licenses/by/4.0/), which pe mi s un es ic ed use, dis ibu ion, and ep o- duc ion in any medium, p o ided he o iginal wo k is p ope ly ci ed. ORIGINAL ARTICLE Ci a ion: Çe a, G., Khan, K. A., Bláho á, A., & Belas, J. J . (2022). Do owne -manage de- mog aphics in SMEs ma e o co po a e social esponsibili y? Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531. doi: 10.24136/eq.2022.018 Con ac o co esponding au ho : Gen jan Çe a, [email p o ec ed] A icle his o y: Recei ed: 3.01.2022; Accep ed: 9.06.2022; Published online: 25.06.2022 Gen jan Çe a Tomas Ba a Uni e si y in Zlin, Czechia o cid.o g/0000-0002-9324-181X Khu am Ajaz Khan Tomas Ba a Uni e si y in Zlin, Czechia o cid.o g/ 0000-0001-5728-8955 And ea Bláho á Ins i u e o Technology and Business in České Budějo ice, Czechia o cid.o g/0000-0002-5436-4999 Ja osla Belas, J . Alexande Dubcek Uni e si y in T encin, Slo akia o cid.o g/0000-0003-1796-8598 Do owne -manage demog aphics in SMEs ma e o co po a e social esponsibili y? JEL Classi ica ion: J16; M14 Keywo ds: CSR; co po a e social esponsibili y; owne ; manage ; SMEs Abs ac Resea ch backg ound: Acco ding o he EU agenda, CSR should be conside ed an in eg al elemen o he cu en o ganiza ional s a egy, including SMEs. While he deba e con inues abou he op imal app oach o success ul CSR adap a ion in SME, ye he e is a need o shed ligh on he impac o owne -manage ’s demog aphics on CSR p ac ices. Pu pose o he a icle: The pape aims o examine whe he owne -manage ’s demog aphics (age, gende , educa ion) ma e o he implemen a ion o CSR o no . Me hods: The s udy is based on a ques ionnai e illed in by owne -manage s o SMEs ope a ing in Czechia (454) and Slo akia (368). Fac o analysis and nonpa ame ic me hods a e used o es he hypo heses. Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 512 Findings & alue added: This s udy shows ha he ela ionships be ween CSR and owne - manage ’s demog aphics a e no alike be ween Slo akia and Czechia. Compa ed o owne s, he e idence shows ha he Czech manage s a e mo e o ien ed owa d he CSR p ac ices, while in Slo akia he e is no di e ence. Such inding can be explained by Ho s ede cul u e di e ence. In addi ion, analysis demons a es ha emale Slo aks a e mo e o ien ed o CSR han men, while i is no ue in Czechia. Mo eo e , Czech indi iduals who g adua ed in he same ield as hei business a e mo e o ien ed o he CSR, whe eas in Slo akia his is no . In addi ion, young and old Slo ak en ep eneu s a e mo e o ien ed o he CSR han hose 35-55 yea s old, mani es ing a U-shape ype o ela ionship. The o iginali y o his wo k is mani es ed by he ac ha i en- iches he li e a u e since i is among he i s s udies o analyze he ela ionships be ween owne - manage ’s demog aphics and CSR in he SME segmen o Czechia and Slo akia. In oduc ion S udies show ha businesses bene i om co po a e social esponsibili y (CSR) in a a ie y o ways, including imp o ing b and image, inc easing consume loyal y, mo i a ing employees, inc easing employees’ commi - men and dedica ion, imp o ing i m pe o mance (Ali e al., 2020; Kunz, 2020; S ojano ic e al., 2020). The CSR ini ia i es a e inc easingly an ele- men o a company’s long- e m s a egic aims. Since o ganiza ions’ man- agemen (manage s and owne s) a e he s a egis s and decision-make s, he onus is on hem o ou line success ul CSR ac i i ies ha can bene i i ms and help hem accomplish hei s a ed goals (Belas, e al., 2020a; Khan e al., 2020; Sahu e al., 2019). Pe sonal choices made by en ep eneu s a e c ucial in building a good business s a egy and e lec ing hei social goals (D’And ea & Mon anini, 2015). Hence, hei demog aphic ac o s such as age, gende , e c., canno be kep aloo because i migh a ec hei deci- sion-making and choices. Seeing i h ough heo e ical lenses, he uppe echelons heo y (UET) sugges s a linkage be ween a manage 's cha ac e is- ics and o ganiza ional ou comes (Hamb ick & Mason, 1984). Fi ms unde - ake CSR belie ing ha i is he igh hing o do and hey do i o hei own ee will, wi hou any compulsion o cons ain (G ims ad e al., 2020; Smekalo a e al., 2014). Thus, p ac icing CSR is mo e on he choice o he manage s and owne s. As a esul , i is c i ical o explo e and unde s and he manage s’/owne s’ pe cep ions o CSR and dema ca e hemsel es based on demog aphic ac o s. Such ocus lacks in o ma ion in he con ex o cen al Eu opean na ions. A s udy p oposed ha he owne /manage s' alues a e i al d i e s o CSR in SMEs. Manage s a e op imis ic abou CSR implemen a ion and expec posi i e ou comes o he SMEs, and sugges ha p oac i e and consis en SMEs can de elop a posi i e image and a be e posi ion (F aj-And és e al., 2012; Me zke & S eimikis, 2020). In summa y, i can be linked ha manage s’ pe cep ion, a i ude, and beha io , a e in luenced by manage s’ Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 513 demog aphic cha ac e is ics owa ds CSR p ac ice, and his canno be ig- no ed and a ac s he esea che 's a en ion. I is ound ha he CSR- ela ed esea ch in he con ex o coun ies like Slo akia and Czechia is s ill unde - esea ched, wi h li le emphasis paid o he compa a i e s udies (Remišo á & Lašáko á, 2014). Fijałkowska (2018) iden i ied ha he e is s ill limi ed e idence on CSR p ac ices and hei e ec s, especially in cen al and eas e n Eu opean na ions. Ano he s udy sugges ed a need o CSR knowledge di usion as i has he po en ial o in luence businesses h ough inno a i e p ac ices in Eu opean coun ies (Maon e al., 2015). The no ion o co po a e social esponsibili y (CSR) is ela i ely new in hese Viseg ad coun ies. Acco ding o a ecen s udy on CSR, u u e s udies should look a CSR om mul iple pe spec i es, such as gende , age, and educa ional a ilia ion. Based on he pe cei ed dispa i ies in CSR be ween emale and male owne s and p o essional execu i es, old and young execu i es can be compa ed. Simila ly, he educa ional p o ile o execu i es, and hence hei cul u al capi al and cogni i e schema, could be a ascina ing a ea o esea ch (Yamak e al., 2019). Mos o he CSR- ela ed s udies conduc ed on la ge i ms wi h eno - mous esou ces migh con ibu e subs an ially o he economic ou pu . Small size i ms ha e a mo e decisi e in luence o owne s-manage s on he p ocesses compa ed o la ge size co po a ions (Öksüzoğlu-Gü en, 2015). Tha ’s why his s udy ocused on SMEs segmen s in Czechia and Slo akia. Mos o he economic ou pu s in bo h coun ies a e gene a ed by SMEs, making hem subs an ially c ucial o he economy, socie y, and en i on- men . The e o e, hei ole canno be igno ed conce ning CSR, since mos economic ou pu comes om non- inancial business (D o ský e al., 2020; Eu opean Union, 2020; Khan e al., 2019). Rega ding demog aphic ac o s, i has been ound ha old and young manage s ha e di e en cha ac e is ics in e ms o consul a i e and pa ici- pa i e leade ship s yles. Compa ed o younge manage s, mo e ge ia ic manage s consul ed mo e b oadly and p e e ed mo e pa icipa ion (Oshagbemi, 2004). A ecen s udy on leade s o di e en age g oups in a ious wo k en i onmen s e ealed signi ican di e ences. Showing ha he di e ences a e a ising om demog aphic ac o s such as age, gende , e c. (La sson & Bjö klund, 2020). Ano he ecen s udy comp ehends he dispa i ies in beha io be ween male and emale manage s du ing he im- plemen a ion o CSR in businesses (Lu, J. e al., 2020). A s udy on young manage s sugges s ha ce ain leade ship beha io s may be enhanced o diminished depending on he leade 's age (Buengele e al., 2016). I has also been ound ha he en ep eneu ial beha io in o ganiza ions a ies depending on he age and educa ional le el o hei manage s (Jiménez e Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 514 al., 2021). The exis ing e idence mo i a es o explo e he desi ed objec i e o he p esen s udy. The p esen analysis is conduc ed on he esponses o a s uc u ed ques ionnai e designed using a Like scale, illed by he own- e s and manage s o SMEs in Czechia (454) and Slo akia (368). The hy- po heses o mula ed a e es ed h ough non-pa ame ic app oaches. The ollowing sec ion gi es de ails o he esea ch me hodology and s a- is ical analysis. The las pa o he pape p o ides esul s, discussion, and conclusions ollowed by he limi a ions and u u e esea ch agenda. Li e a u e e iew and hypo heses de elopmen The UET ad oca es ha he o ganiza ional ou comes-s a egic planning and choice, and o ganiza ion pe o mance le els a e pa ially p edic ed by man- age ial backg ound cha ac e is ics (Hamb ick & Mason, 1984). Top-le el manage s ha e di e en demog aphic ac o s; he e o e, hey migh p o- cess, in e p e , and implemen in o ma ion di e en ly. Tha ’s why di e en manage s ake di e en ac ions on he same in o ma ion. Since he CSR ac i i ies a e linked o s a egic planning and s a egic decisions (Heikku inen, 2018; Idowu & Ve igans, 2017; Me zke & Z a iko a, 2021), manage s' demog aphic ac o s migh a ec hei CSR ac i i ies planning and choice. Se e al o he s udies ela ed o di e en aspec s, such as implemen ing s a egies, i m's inancial pe o mance, e c., conce ning manage s and key people demog aphic ac o s iden i ied subs an ial di e - ences (Jespe sen & Bys ed, 2016; Liem & Hien, 2020). A s udy ha e alu- a ed SME owne –manage s' men al models in ela ion o CSR and associa - ed concep s ac oss six na ions in Eu ope disco e ed ha he men al models o SME owne -manage s ha e a ew commonali ies as well as a ew a ia- ions (Fassin e al., 2015). Based on hese a gumen s, he li e a u e e iew sec ion es ablishes he linkage o CSR pe cep ion o owne s-manage s and di e ences based on demog aphic ea u es, age le el, and educa ion. Li e a u e e eals ha owne s and manage s in la ge i ms do ha e some di e ences. Based on he heo y o biases and heu is ics, owne s and manage s in e p e and hink di e en ly (Buseni z & Ba ney, 1997). I was also ound in he pas ha en ep eneu s beha e di e en ly han manage s, and all hese a iances a e subs an ia ed. A ecen s udy compa ed he own- e s and manage s o SMEs wi hin he V4 na ions abou he dispa i ies in he pe cep ion o business isks. The owne s a e al oge he ound mo e hope ul in hei showcase isk assessmen han he manage s o SMEs. On he o he hand, compa ed o he owne s, manage s display a mo e c i ical app aisal conce ning he a icula ion ha he business en i onmen in hei ield o Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 515 doing business is o e - egula ed. They also e lec ed some simila i ies; esponden s indica ed he same s a e o mind in he cases o ope a ional and pe sonnel isks (D o ský e al., 2022). Owne s' main aim is en u e g ow h compa ed o manage s whose p i- ma y concen a ion is gene a ing amily income (S ewa & Ro h, 2001). Zhao and Seibe (2006) ound ha owne s sco ed mo e han manage s on conscien iousness, one o he pe sonali y dimensions. Speci ically o CSR, i has been ound ha manage s a o CSR p ac ices in he i m. Wha ma e s is ha each manage pe cei es he ole o he business owa ds p o iding social wel a e, which impac s hei decisions o con ibu e o di e se CSR ac s. Conside ing he discussed condi ions abo e, e en hough he manage s ope a e in mo e moni o ed and con olled si ua ions, hey s ill ha e a posi i e ou look owa ds CSR. I has been ound ha p o essional manage s ocus on s akeholde g oups, such as cus ome s, supplie s, and employees. In con as , owne s de elop and use CSR as a s a egic ool o ela e o ce ain in e es g oups and s akeholde s, such as he media, poli i- cians, he s a e, and public opinion. The oles in luence owne s' and op manage s' a i udes owa d he social esponsibili y hey pe o m in he i m (Ta el-Viia & Alas, 2009). On he one hand, a s udy ound ha CSR is only impo an o senio execu i es when hei pe o mance is close o hei aim, no when i is signi ican ly behind o o e he a ge , especially i hei sha eholding is low (Kim & Kim, 2020). On he o he hand, i ms add ess social p oblems and conside CSR (Belas e al., 2020b). In such scena ios, i becomes impe a i e o in es iga e u he he di e ences which a e mo e conscien ious o CSR owne s o manage s. Simila ly, he e a e sh eds o e idence ha owne s a e mo e conscien ious owa ds business and goals. I migh in luence owne s mo e subs an ially owa ds CSR p ac ices in small i ms. The di e ences be ween owne s and manage s can be seen in hei en husiasm and mo i a ion o manage he i m, isk- aking a i ude, and le el o expe ise (Kulchina, 2017). I seems easible and logical o unde s and u he how manage s and owne s hink di e en ly owa ds implemen ing CSR p ac ices. Thus, H1: The e is a signi ican di e ence in CSR be ween owne s and manage s o SMEs, wi h owne s being mo e conscien ious abou CSR. Di e en manage s ha e di e en managemen s yles. They ollow di - e en ools, ac ics, pe sonali ies, in e pe sonal skills, e c., which hey ha e gained om hei di e en li e expe iences and lea ning (Johansen, 2007). These di e ences always c ea e a acuum o u he in es iga ion, espe- Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 516 cially in ecen imes, when he pa icipa ion o he emale gende is in- c easing in e e y aspec , e en in small business owne ship and manage- men . Conside ing he ew p e ious s udies, se e al di e ences we e aced be ween male and emale leade ship and managemen . The e a e s udies which ound di e ences be ween emales and males’ manage s in di e en aspec s such as in he pe cep ion o p o essional oles (Seghie i e al., 2015). Gende signi ican ly di e s in some aspec s o leade ship s yle (Oshagbemi & Gill, 2003). The in ol emen o women in co po a e go - e nance is posi i ely linked o a company's inancial pe o mance (Amin e al., 2021). Companies wi h gende -di e se leade s a e mo e e ec i e a implemen ing en i onmen ally iendly s a egies han o he companies (Glass e al., 2016). I is also ound ha he s a egies emale manage s use ha e a a o able impac on business pe o mance (Johansen, 2007). In ecen imes, i has been also ound ha emale manage s a e mo e in- e es ed in en i onmen al and CSR. Being an indus ial na ion, i is loca ed in a ecen s udy in China ha en i onmen al in es men by women in leade ship posi ions cu s pollu ion emissions conside ably. Women manag- e s' inc eased en i onmen al in es men s ems mainly om hei inhe en commi men o social esponsibili y (Jiang & Akba , 2018). The p esence o women in ac ual leade ship posi ions and he implemen a ion o sus ain- able ope a ions imp o e a company's inancial pe o mance and alue (Bannò e al., 2021). Looking speci ically in o whe he gende di e ences exis in CSR p ac ices in i ms, qui e a ew s udies wi nessed ha emale manage s a e mo e conscious ega ding CSR alues han male coun e pa s (Lu, J. e al., 2020). Ti ko e al. (2021) claim a signi ican di e ence be- ween males' and emales' pe cep ion o CSR. Female esponden s, com- pa ed o male esponden s ega ding CSR, whe he i is necessa y o no , ound ha emale opinions a e i me han male. Simila ly, i is also ound ha emales ha e mo e inclina ion owa ds in e nalized mo al iden i y han males because emales us ha a i m mus be ad an ageous o people and socie y, which e eals women’s pe cep ions owa ds CSR. I also suppo s ha gende plays an impe a i e ole in pe cep ions o social esponsibili y (Ha ch & S ephen, 2015). Hence, based on he abo e discussion, i seems easonable o compa e how male and emale manage s and owne s pe cei e CSR, speci ically in he Czechia and Slo akia. H2: The e is a signi ican di e ence be ween males and emales o SMEs, so ha emales sco e highe in CSR han males. Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 517 Owne s-manage s’ alues shape he ex en and ypes o CSR in i ms (Sa eanu e al., 2021). Ano he s udy suppo s ha manage s’ mo al alues signi ican ly impac manage s’ CSR pe cep ion (Te e a & He, 2020). I suppo s ha CSR ac i i ies in small businesses depend on he a i ude and beha io o manage s and owne s. I was ound ha manage s’ yea s o age ha e a s a is ically signi ican in luence in explaining CSR beha io (Kukanja e al., 2016). Age- ela ed changes in mo i a ion migh lead o a g ea e emphasis on good emo ional expe iences and one's own and o he s' well-being (Scheibe e al., 2021). Bi kinshaw e al. (2019) ound ha managemen s yles a e mo e di e se wi h age han any o he cha ac e is ic o manage s. The s udy e ealed ha olde manage s s ess mo e on de eloping co e compe encies, cus ome e en ion, and ela ionships and a e mo e conce ned wi h he i m's b oad image in he ma ke . Con a y, young manage s a e mo e con- ce ned wi h i ms' compe i i e posi ioning in he business en i onmen . In a nu shell, i ms ha e bene i s and challenges a ising om he age di e si y o manage s since expec a ions and demands di e by gene a ion. G eek manage s us ha CSR ac ions o e se e al bene i s (Leonidas e al., 2012), young F ench manage s belie e ha he p ima y mo i a ion o adop CSR policies is o main ain and imp o e he co po a e image. Amaz- ingly, i has been ound ha manage ial commi men o CSR is allied wi h lea ned quali ies such as aining and educa ion a he han manage s’ age (Quazi, 2003). Suppo ing he same, a s udy ound ha manage s’ age has no impac on manage s’ CSR pe cep ion (Te e a & He, 2020). Young ex- ecu i es may choose o ocus on achie ing high and consis en ea nings in he sho e m. On he con a y, as op manage s ge olde and ace less ma ke p essu e in e ms o ca ee conside a ions. They may be mo e eady o add ess he conce ns o a wide ange o s akeholde s, ega dless o he immedia e impac on he i m's p o i abili y (Fab izi e al., 2014). I indi- ec ly e eals ha olde execu i es migh look mo e owa d CSR ac i i ies. Fu he mo e, ano he s udy sugges s ha he associa ion be ween CEO ca ee ime ame (age) and CSR is con ingen on he ci cums ances o con- di ions ha i ms expe ience. I is signi ican o conside he indus y- speci ic and owne ship-speci ic bounda y condi ions conce ning he CEO’s ca ee ho izon o he i m’s in ol emen in CSR (Oh e al., 2016). Since bo h o he men ioned s udies e lec di e en aspec s o how he age o op execu i es can a ec CSR in ol emen gi es scope o u he in es iga- ion. Owne s and manage s a e he key people who d i e SMEs. Unde - s anding hei pe cei ed di e ences based on hei age abou CSR becomes ele an . Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 518 Since he exis ing li e a u e gi es mixed esul s based on he age o owne s and manage s, he p esen s udy examines he impac o age on manage s and owne s in a speci ic segmen o SMEs. H3: The e is a signi ican di e ence in CSR be ween he di e en age g oups o owne s-manage s. Based on he uppe echelons heo y (UET), educa ion plays a conside - able ole in manage s’ alue and e hical decision-making and migh o m manage s’ pe cep ion owa ds CSR p ac ices in i ms. Consequen ly, man- age s-owne s' educa ion can impac e hical beha io , ul ima ely a ec ing hei pe cep ions o CSR. Owne s-manage s' pe cep ions ega ding he business en i onmen a e in luenced by he and hei educa ional le els. I is belie ed ha highe educa ion gi es mo e knowledge ega ding econom- ic egula ions, a be e unde s anding o he business en i onmen , and he capabili y o o ecas he challenges in he business en i onmen accu a ely (Vi gle o a e al., 2017). One’s capabili y o accep and diges new and a ied expe ise and complex in o ma ion is e lec ed in i s educa ion. Manage s wi h ad anced aining we e mo e ecep i e o new ideas and esponsi e o change. The e can be a di ec ela ion be ween manage s’ educa ion and CSR. The highe he educa ion le el, he highe he manage s' conce n o e CSR (Lu, F. e al., 2021). S udies suppo ha unde s anding CSR concep s and hei ap- plica ion imp o es wi h highe educa ion. The e is a signi ican impac o educa ional le el on comp ehension o he no ion o CSR (Ka abase ic e al., 2016). Highligh ing he impo ance o educa ion, ano he s udy s a es ha educa ion and aining can help i ms lessen he in luence o ba ie s o CSR p ac ices (Pham e al., 2021). I has been ound ha educa ion makes indi iduals mo e en i onmen al- ly and socially esponsible (Meye , 2015). A s udy ound a signi ican posi- i e ela ionship be ween CEOs wi h MBAs and co po a e en i onmen al pe o mance (Sla e & Dixon-Fowle , 2010). The o e all summa y o he abo e discussion highligh s he impo ance o educa ion o manage s and owne s and how educa ion le el a ec s CSR pe cep ion in SMEs. The e- o e, based on hese a gumen s, one can o mula e, H4: The e is a signi ican di e ence in CSR ac oss owne s-manage s’ edu- ca ional le els. The p esen s udy ex ends i s indings unde he scope o UET heo y. I in es iga es he owne s' and manage s' di e ences in CSR in SMEs based Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 519 on hei demog aphic ac o s. The in es iga ion o he di e ence has use- ulness, such as unde s anding he ac o s a ec ing he di e ences such as educa ion, age o gende , e c. I can help esea che s and policymake s o unde s and he majo ac o s. Since UET heo y suppo s ha pe sonal ai s and ea u es o manage s and owne s a ec o ganiza ional ou comes (Hamb ick & Mason, 1984). I becomes impe a i e o unde s and he key ac o s behind he di e ences in his case. The abo e-discussed li e a u e ied o de elop and show he linkage and impo ance o demog aphic cha - ac e is ics. O cou se, he pa o he manage -owne 's pe sonali y ai s can a ec hei pe cep ion o CSR. In small i ms, manage s and owne s a e he key people who plan, make s a egies, and a e esponsible o CSR. Hence, i is equi ed o unde s and he demog aphic- ela ed ac o s causing di e - ences in pe cei ed CSR in SMEs. The Viseg ad na ions a e consis en ly wo king on he a ea o CSR no only wi h la ge companies, now e en SMEs e en s a ed paying heed o CSR ac i i ies (Me zke & S eimikis, 2020). The ocus is no only limi ed o la ge i ms, bu also SMEs. The in e es ing pa o he s udy is o com- pa e he manage and owne , conside ing he wo a e di e en . The di e - en ole o SMEs can in luence hei pe cep ion, and ha is he no el y o he p esen s udy. To he ex en o he au ho s' knowledge, no p io s udy has compa ed owne s wi h manage s o de e mine he di e ences in hei CSR pe cep ion based on hei demog aphic ac o s in he Czech Republic and he Slo ak Republic. Me hods and p ocedu es The pape aims o examine whe he owne -manage demog aphics ma e o CSR o no . The analysis is done in a su ey based on a i m-le el. The da a a e collec ed in Decembe 2019–Feb ua y 2020. The uni o he analy- sis in his s udy a e owne -manage s o SMEs ope a ing in Czechia and Slo akia. Table 1 p esen s he sample p o ile. Fou s a emen s a e used o measu e CSR, as p oposed by Çe a e al. (2020). The p oposed CSR cons uc ies o cap u e aspec s om knowing he concep o CSR o i s bene i s and gained epu a ion o he company when i is implemen ed. These ou indica o s we e o mula ed as a i e- poin Like ype o scale (1=s ongly ag ee, 5=s ongly disag ee). The low- es mean among he indica o s was epo ed o he i s s a emen (2.58), whe eas he highes mean was o he second indica o (2.95). Acco ding o Shapi o-Wilk es , none o he indica o s was s a is ically no mali y dis ib- u ed, indica ing he use o non-pa ame ic me hods. The associa ion be- Equilib ium. Qua e ly Jou nal o Economics and Economic Policy, 17(2), 511–531 526 G ims ad, S. M. F., Gla ee-Geo, R., & Fjø o , B. E. (2020). SMEs mo i a ions o CSR: an explo a o y s udy. Eu opean Business Re iew, 32(4), 553–572. doi: 10.1108/EBR-01-2019-0014. Hai , J. F., Black, W. C., Babin, B. J., & Ande son, R. E. (2010). Mul i a ia e da a analysis. Pea son Educa ion Limi ed. 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Sample p o ile (%) Va iable To al (n=822) Slo akia (n=368) Czechia (n=454) Owne - manage Owne 78 77 78 Manage 22 23 22 Gende Female 30 31 29 Male 70 69 71 Educa ion links No 64 62 65 o business Yes 36 38 35 Age (yea s old) < 36 16 18 15 36 – 45 23 22 23 46 – 55 28 29 27 > 55 33 32 35 Table 2. Tes ing H1, H2 & H4 Sample Mean ank (m ) Mann - Whi ney U Z p Owne - manage Owne Manage Czechia 235 199 14869 2.451 0.014 Slo akia 182 194 11062 0.902 0.367 Gende Female Male Czechia 213 234 19212 1.500 0.124 Slo akia 150 200 10611 4.182 0.000 Educa ion links o business No Yes Czechia 237 209 20514 2.162 0.031 Slo akia 187 181 15480 0.487 0.626 Table 3. CSR and age (yea s old) Sample Age ca ego ies K uskal Wallis < 35 36 - 45 46 - 55 > 55 Mean ank χ 2 (3) p Czechia 223 231 226 228 0.165 0.926 Slo akia 139 197 205 183 17.314 0.015