Corporate Social Responsibility as a Stakeholder Signal: Fairness and Belonging as Pathways to Job Satisfaction and Commitment

ABSTRACT Existing research shows that corporate social responsibility (CSR) benefits firms in terms of return on investment, customer satisfaction, and reputation; however, limited attention is given to employees as internal stakeholders. Drawing on Stakeholder Theory, Social Exchange Theory, and Social Identity Theory, this study investigates how CSR perceptions influence job satisfaction and organizational commitment. Using survey data from 385 valid employee responses collected across CSR‐engaged organizations, we find that CSR is indirectly related to job satisfaction and organizational commitment through both organizational identification and overall justice. In addition, distributive justice strengthens the indirect relationship between CSR and job satisfaction via overall justice, indicating that the fairness signal conveyed by CSR is more consequential when employees also perceive outcome allocations as fair. By integrating exchange and identity perspectives, this study advances CSR research by connecting organizational and psychological levels. Moreover, it offers practical implications for HR policies that align CSR initiatives with employee well‐being rather than shifting costs onto staff.