The idea of the second group of theorists is that there is no relationship between corporate social responsibility and corporate financial performance (McWilliams and Siegel, 2000; Ullmann, 1985; Aupperle, Carrol and Hatfield 1985; Waddock et al., 1997). Waddock et al., (1997) explain that a neutral relation may suggest that many variables in the relation between social and financial performance make the connection coincidental. McWilliams et al., (2000) find that the firms supplying corporate social responsibility products to their own customers have a different demand curve compared to those with no corporate social responsibility.