The role of innovation and social media in explaining corporate social responsibility–business sustainability nexus in entrepreneurial SMEs

Purpose: The purpose of this study is to investigate the influence of Corporate Social Responsibility (CSR) on the sustainability of Central European SMEs by emphasizing the role of innovation as a mediator and social media as a moderator. Design/methodology/approach: A questionnaire is developed, and primary data is collected from four Central European countries. Partial Least Squares Structural Equation Modelling is used to analyse data from over 1,500 SMEs operating in Visegrad countries. Findings: Our findings reveal a significant and positive association between CSR and business sustainability. Furthermore, it is identified that innovation serves as a mediator in the CSR–business sustainability link in two of the examined countries. Additionally, the moderating effect of social media is observed in Hungary, indicating that the impact of CSR and innovation on business sustainability varies by country context. Research limitations/implications: While offering valuable insights, the study's generalizability to other regions necessitates further exploration. Additionally, the research focuses on specific mediating and moderating factors, leaving room for the investigation of other potential influences. Practical implications: This study emphasises the need to integrate CSR practices and promoting innovation to improve business sustainability for SMEs in Central Europe. Recognising social media's moderating influence may help firms adjust their CSR strategies to reflect the preferences and behaviours of their target consumers. Social implications: Promoting CSR in SMEs can encourage social well-being, including community development and environmental sustainability. Originality/value: This research contributes fresh insights into the interplay of CSR, innovation and social media within Central European SMEs. It underscores the importance of considering regional nuances when analysing these dynamics