Although the research community has been investigating the CSP-CFP relationship for more
than 30 years, the existing empirical evidence is too mixed to allow for any firm conclusions
(Orlitzky 2008). Recent reviews and meta-analysis point out that, overall, previous research has
found a positive, but also highly variable, relationship between CSP and CFP. Specifically, several
researchers claim that the use of different accounting and market-based measures of CFP and the
exclusion of mediating and moderating variables lie at the root of the discrepancies among studies.