Abstract
The primary purpose of the study is to explore the antecedents of corporate social andenvironmental responsibilities discourse practices in Pakistan. The industry sensitivity, governmentshareholding, block holder ownership, print media coverage, environmental monitoring programs,and strategic posture are examined as antecedents of corporate social and environmentalresponsibility practices. A multidimensional theoretical perspective namely stakeholder theory(ST), institutional theory (IT), agency theory (PAT), and legitimacy theory (LT) is used toconceptualize the phenomena. All the four of perspective theories (positive accounting theory,legitimacy theory, stakeholder theory, and institutional theory) claim that there are 'pressures' thatimpact the organization. How much 'pressures' are recognized, managed or satisfied differs fromone perspective of theory to the other. To estimate the data, this study uses three sets of paneldata models, i.e., the pooled ordinary least squares model (POLS) or constant coefficients model,fixed effects (FEM or least squares dummy variable/LSDV model) and random-effects models. Thefinal sample is comprising of 173 firms over eight years from 2011 to 2017. The firms listed in PSXare included in the sample. Overall the findings of the study have shown agreement with theproposed results. However, the study has provided more support to the institutional theory andstakeholder theory.
Keywords: Corporate Social Responsibility, Stakeholders Theory, Agency Theory, Pakistan