As society’s interest in corporate social responsibility increases and demands grow, companies that engage in business activities to achieve profit-seeking goals by establishing mutual exchanges with various stakeholders are also making great efforts to meet the needs of these societies. The purpose of this study is to identify the impact of investment for CSR activities on consumer evaluation and also to explore in detail the various factors that adjust and mediate this influence. To specify this, corporate economic responsibility and philanthropic responsibility, which are the first and forth type of investments of CSR among four types were selected as independent variables while customer evaluations were selected as dependent variables. The conclusions obtained through the experiments and verification conducted in this study can be summarized as follows: First, simply fulfilling its investment of economic responsibilities did not lead to a significant improvement in consumer evaluations. Second, when a company executes its investment in philanthropic responsibility at an appropriate level that is not excessive or insufficient compared to its investment in economic responsibility, consumers felt fairness, evaluating the company most positively. Third, the influence of corporate economic and philanthropic responsibilities on consumer evaluation differed according to the level of consumers’ moral identity. The results and academic implications of these studies can be combined to provide implications to the management site of the company.