Legitimacy theory vs stakeholder theory explanations for CSR activities: which statement is correct?

• A. Legitimacy theory says CSR is pursued to maintain societal approval; stakeholder theory says CSR is needed to manage stakeholder interests and sustain value.
• B. Legitimacy theory says CSR is driven by profit; stakeholder theory says CSR is optional.
• C. Legitimacy theory and stakeholder theory are identical.
• D. Legitimacy theory says CSR harms legitimacy; stakeholder theory says CSR reduces costs.

Answer: (A)