Seeking sustainable development, companies voluntarily implement Corporate Social Responsibility (CSR) through the Triple Bottom Line (TBL) approach, considering economic, social and environmental aspects of interest to global society. Searching for sustainable development, the Circular Economy (CE) emerged as a new philosophy of life to meet the new challenges in society. This research links CSR and CE but considering jointly the Institutional and Stakeholder Theories to delimit the sustainable development framework from the EC approach driven by CSR. According to this framework, it was tested whether the CSR practices of companies positively and significantly impacts on a business orientation towards CE, through two models (Model A and Model B) each of them analyzed with two independent samples of companies in Spain. Both samples are composed of Small and Medium Enterprises (SMEs) at two different stages of CSR adoption. The hypotheses were analyzed through a structural equation modeling‐fuzzy‐set qualitative comparative analysis (SEM‐fsQCA). The result of the SEM supports the hypothesis in both models. So, CSR practices are driving companies towards CE, incorporating propositions on stakeholders' value creation. Moreover, an fsQCA revealed combinations of relationships that ensure the consistency of obtained results, generating five configurations based on two models defined. Main contribution of this work is CSR practices of companies and their orientation towards CE can be linked. This encourages to deep in analysis about the relations between CE and CSR, and of the specific CSR practices that should be enhanced for their beneficial effect on the implementation of CE.

中文翻译：

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企业社会责任的循环经济导向：基于结构方程模型和模糊集定性比较分析的观点

为了寻求可持续发展，企业通过三重底线（TBL）方法自愿履行企业社会责任（CSR），考虑全球社会利益的经济、社会和环境方面。为了寻求可持续发展，循环经济（CE）作为一种新的生活理念应运而生，以应对社会的新挑战。本研究将企业社会责任和CE联系起来，但共同考虑制度和利益相关者理论，将可持续发展框架与企业社会责任驱动的EC方法区分开来。根据该框架，通过两个模型（型号A和B型）他们每个人都对西班牙公司的两个独立样本进行了分析。这两个样本均由处于企业社会责任采用的两个不同阶段的中小企业 (SME) 组成。通过结构方程建模-模糊集定性比较分析（SEM-fsQCA）对假设进行了分析。 SEM 的结果支持两个模型中的假设。因此，企业社会责任实践正在推动公司走向CE，纳入利益相关者价值创造的主张。此外，fsQCA 揭示了确保所获得结果一致性的关系组合，根据定义的两个模型生成五种配置。这项工作的主要贡献是公司的企业社会责任实践及其对CE的定位可以联系起来。这鼓励我们深入分析CE与企业社会责任之间的关系，以及应加强哪些具体的企业社会责任实践，以使其对CE的实施产生有益的影响。