Corporate social responsibility and overseas income

We study the effect of corporate social responsibility (CSR) on overseas income. We find that CSR ratings have a positive relationship with overseas income and that CSR is conducted differently in different host countries: multinational enterprises (MNEs) with a high CSR rating generate more income in developed countries than they do in underdeveloped countries/areas. We also discover that markets in developed countries/areas are more concerned with employees’ interests, the interests of suppliers and customers, and the environment than with other subcategories of CSR. Conversely, markets in underdeveloped countries pay more attention to the environment and to outside stakeholders’ interests. In addition, we discover that overseas markets that consume more sustainable energy, have more green customers, care more about employees’ rights and are equipped with more competitive stock markets enhance the effect of CSR on overseas income.