McWilliams and Siegel (2001) concluded that neutral relationships between CSR and CFP are outlined by a supply and demand model of CSR. A firm’s dependency level of CSR is determined by its size, level of diversification, R&D, etc. The analysis revealed that there is some level of CSR that will maximise profits while satisfying the demand for CSR from multiple stakeholders and the ideal level of CSR can be determined by cost benefit analysis.