The purpose of this study is to examine the effect of human capital investment (HCI) on corporate
social responsibility (CSR) practices in SMEs. Analysing a sample of 1,136 firms (729 FBs and 407 NFBs) and
using a PLS-PM methodology, our results support that HCI has a favourable impact on CSR practices in SMEs
and that family business (FB) status plays a moderating role on these relationships.
