This study analyzed the effects of corporate social responsibility(CSR) on corporate trust, reputation and customer royalty. In this process, the moderating effect of consumer ethical consciousness was tested. Based upon the analysis of six hundred seventy college students, the following results were founded. First, it was shown that CSR has positive influences on corporate trust and reputation. Second, both corporate trust and reputation have positive influences on customer royalty. But the effect of reputation was not statistically significant. The reason is that corporate reputation is constructed by not only CSR but also corporate innovativeness and product quality. Third, among the relationships of CSR, corporate trust, reputation, and customer royalty, the moderating effects of consumer ethical consciousness was not statistically significant. It seems that consumer ethical consciousness does not play an important roles in the recognition of CSR and in the decision of purchasing products. These results provide significant implication for CSR in marketing view.