“…Within the second stream of literature, a few studies have investigated the relationship between technical or cost efficiency and CSR in specific sectors, such as the semiconductor industry (Lu, Wang, & Lee, 2013), the telecommunications industry (Wang, Lu, Kweh, & Lai, 2014), the chemical industry (Sun & Stuebs, 2013), banking sector (Zhu, Stjepcevic, Baležentis, Yu, & Wang, 2017), thrift institutions (Vitaliano & Stella, 2006), the creative industry (Hou, Lu, & Hung, 2019), and the manufacturing industry (Jacobs, Kraude, & Narayanan, 2016). Only Guillamon‐Saorin et al (2018) took a broader perspective by investigating the association between CSR and technical inefficiency in different sectors.…”