“…Values are critical yet underappreciated building blocks of institutional research on CSR as they influence what firms do beyond economic and legal aspects and are central to issue areas of CSR such as fair working conditions (Lin‐Hi & Blumberg, 2017), inclusivity (Mair et al., 2012), equality (Karam & Jamali, 2013), and care for the environment (Aravind & Christmann, 2011). Even though CSR is often understood as a phenomenon that focuses centrally on values, since it relies on a normative concept based on ‘the right thing to do’ (Bansal & Song, 2017; Wickert & Risi, 2019; Wicks, 1996) and reflects the norms and values of societal stakeholders (Bansal & Roth, 2000; Brammer et al., 2012; Risi, 2022), institutional theory‐based CSR research has yet to capture the role of values systematically. In the context of this research, we understand values as the ‘beliefs about the things that are worth having, doing, and being’ (Kraatz & Flores, 2015, p. 356), which ‘carry a normative weight’ while ‘people experience [them] as moral imperatives and use them to judge the world, each other, and themselves’ (Kraatz et al., 2020, p. 477).…”