In the eighties of the 20th century, Carroll (1979) extended the concept of CSR, including four categories:
economic, legal, ethical and discretionary responsibility. In the nineties, Carroll linked the stakeholder concept of
Freeman (1984) with the CSR concept. The stakeholder concept personalizes social responsibilities by delineating
the specific groups or persons, business should consider in its CSR orientation and activities (Carroll, 1999).
Hopkins (1998) defines that CSR is concerned with treating the stakeholders (both within a firm and outside) of the
firm ethically or in a socially responsible manner.