In this study, we build on insights from both upper echelons and political agency perspectives to examine the effects of CEO political ideologies and the political landscapes in which their firm operate on firms’ substantive and symbolic corporate social responsibility efforts (CSR) and the implication of those CSR on operational and market performance. We argue that firms with more liberal CEOs not only engage in more substantive CSR but also broadcast their CSR initiatives through symbolic CSR. We also argue that more liberal CEOs tend to overstate their engagement in CSR. Further, we examine the moderating effect of the political environment they operate within. Specifically, we look at how the relationship between CEO liberalism and substantive and symbolic CSR along with CSR overstatement change in response to the political climate. In a sample of Fortune 500 firms, we find that these CSR patterns have distinct effects on firms operational and market performance.
