Acta Polytechnica Hungarica Vol. 18, No. 2, 2021 – 177 – Exploring the Relationship between Corporate Social Responsibility and Sales Growth of Small and Medium Enterprises: A Combined Case Study in the Light of a Literature Review Jintao Lu 1,2,* , Dan Rong 1 , Chong Zhang 1 , Chunyan Wang 1 , Parvaneh Saeidi 3 , Justas Streimikis 4 1 Department of Business Administration, School of Economics and Management, Taiyuan University of Science and Technology, Taiyuan 030024, P. R. China, e- mail: lujintao@tyust.edu.cn (J. L.); S20190744@stu.tyust.edu.cn (D. R.); zhangchong@tyust.edu.cn (C. Z); S20190745@stu.tyust.edu.cn (C. W.) 2 Research Center for Corporate Social Responsibility, Taiyuan University of Science and Technology, Taiyuan 030024, P. R. China 3 Facultad de Negacios, Universidad del Pacifico, Ecuador, e-mail: Parvaneh.saeidi@upacifico.edu.ec 4 Lithuanian Institute of Agrarian Economics, A. Vivulskio g. 4A-13, 03220 Vilnius, Lithuania; The University of Economics and Human Science in Warsaw, Okopowa 59, 01-043 Warsaw, Poland, justas.streimikis@laei.lt Abstract: The purpose of this study is to analyze the influence of Corporate Social Responsibility (CSR) on a firms’ sales growth and to assess the mediating role of competitive advantage and the moderating role of the employee’s individual belief of social responsibility (SR) on the relationship between CSR and sales growth of small and medium enterprises. A survey of 107 small and medium enterprises (SMEs) in the consumption and manufacturing industry of a developing country was performed. Structural equation modeling based on AMOS path was employed to test the hypotheses linked to the relationship between CSR and sales growth of SMEs. Results indicate that the link between CSR and sales growth is mediated through competitive advantage and that the positive impact of CSR on sales growth is moderated by the employee’s individual belief of social responsibility. Keywords: corporate social responsibility; competitive advantage; employee’s individual belief of social responsibility; small and medium enterprises