“…Capturing values in institutional CSR research is theoretically useful because values help explain both agentic choices regarding CSR and the influence of institutional structures on CSR agency. For instance, research has found that values embedded in institutional structures related to CSR, such as codes of responsible business conduct (Perez‐Batres et al., 2010; Scheiber, 2015), ecologically and socially responsible industry standards (Baek, 2017; Helms et al., 2012), and organizational social and environmental policies (Midttun et al., 2015; Ramus & Montiel, 2005), influence firms’ propensity to engage in such CSR initiatives. From an agency point of view, research has also noted that values promote the adoption of CSR‐oriented practices by firms (e.g., Jacqueminet, 2020; Karam & Jamali, 2013) and managers (e.g., Acosta et al., 2021; Acquier et al., 2018).…”