CORPORATE SOCIAL RESPONSIBILITY AND THE DETERMINANTS OF THE LINK WITH FINANCIAL PERFORMANCE IN SMALL AND MEDIUM ENTERPRISES IN MEXICO

This research aimed to demonstrate the determinants of the link between Corporate Social Responsibility and Corporate Financial Performance in Small and Medium Enterprises. Theoretically, since the 1950's a positive relationship has been described in the CSR-CSF case; however, empirical research has not been able to prove this relationship for all the case studies, generating uncertainty and debate within the CSR literature. Through a structural equation model and the use of mediating variables, we propose an exploratory model that allows us to demonstrate the main determinants of the CSR-CSF link for the specific case of Mexico. The main determinants of financial performance when implementing CSR practices are the period of analysis, the type of practice, and the level of CSR maturity. The findings allow us to respond to the different results of previous research, generating greater certainty in the CSR-DFE case and seeking to close the debate that has been going on for the last 20 years.