Prior studies on CSR focused on the relationship between CSR and performance of firms. Therefore, this study investigates the relationship between growth of SMEs and CSR. We hypothesize that growth of SMEs influences SMEs to invest in CSR activities. Using a sample of 1000 SMEs in Kumasi, we find that SMEs growth propels them to engage in CSR. The most important SMEs growth measure that influences them to invest in CSR is the rate of stock turnover.

Prior studies on CSR focused on the relationship between CSR and performance of firms. Therefore, this study investigates the relationship between growth of SMEs and CSR. We hypothesize that growth of SMEs influences SMEs to invest in CSR activities. Using a sample of 1000 SMEs in Kumasi, we find...