Many managers have responded to heighted stakeholder interest in CSR in a very positive way, by devoting additional resources to promote CSR. A primary reason for positive responses is the recognition of the relevance of multiple stakeholders (Donaldson & Preston, 1995; Mitchell, Agle , & Wood, 1997). Other managers have a less progressive view of stakeholder relevance. They eschew attempts to satisfy demand for CSR, because they believe that such efforts are inconsistent with profit maximization and the interests of shareholders, whom they perceive to be the most important stakeholder.