There has been much debate on the significance of socially responsible behavior of companies. Corporate social responsibility has become so widespread, at such a fast rate, in the media and academic circles, that today it is possible to identify a series of conceptual streams of thought on the subject. These are lines of thought which address aspects ranging from ethical questions, social legitimacy and citizens who justify the exercise of corporate social responsibility, through to discussions concerning the limits of the role of the State and organizations as principal sponsors of social action in communities. It is also observed that there is a lack of bases that would bring a consensus which theoretically supports the significances of corporate social actions. This article seeks to contribute to this debate, proposing, based on institutional theory, alternatives that will enrich the understanding of the development of concepts of social responsibility in Brazilian corporations.