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This study aims to investigate how employee perspectives on the role of business, specifically capitalist beliefs, affect the corporate social responsibility (CSR)–reputation–employee behavior relationship.

A conceptual model was developed, and to test the model empirically, survey data were collected over two phases from 192 working professionals. Data were analyzed in SAS using Hayes’s PROCESS approach.

Results of this study reveal that the positive employee outcomes (i.e. affective commitment and reduced turnover intentions), resulting from CSR, through perceived employer reputation (i.e. an employee’s perception of how others view their firm), are diminished when employees have strong capitalist beliefs.

Building on the signaling and person–organization fit literatures, this study highlights the theoretical and managerial importance of recognizing employees’ ideological differences as well as the value of considering employee perceptions of reputation. Although many stakeholders value social responsibility, not all do, and a firm’s intended outcomes will vary depending on employees’ beliefs.

This study demonstrates that CSR not only affects institutional-level corporate reputation, as previously studied, but also affects employees’ behaviors through “perceived employer reputation”, or employee beliefs about how other stakeholders perceive the firm. Moreover, this study highlights the importance of understanding employee differences, including ideological differences, prior to engaging in certain types of CSR.

Using social relations theory, we argue that entrepreneurship ecosystems must also include relationships such as market pricing, equality matching, authority ranking and communal sharing to be successful and thrive.

We theorize using Fiske’s typology that a successful entrepreneurial system must have certain characteristics to be successful.

In doing so, we suggest an alternative perspective of the role of exchange relationships in ecosystems which considers both the geographic context and social relationships as equally important ecosystem components. Our contributions include (1) exposing social processes as the explanatory mechanism for exchanges instead of solely market forces, (2) illustrating the role of regional cultural differences in exchanges and (3) emphasizing how entrepreneurs can better realize ecosystem benefits through understanding the methods of exchange in these ecosystems.

Social relationships include a wide variety of different types of resources and exchange mechanisms, so by their inclusion into the entrepreneurship ecosystem literature, a more complete view of ecosystems is possible.