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Corporate social responsibility and firm performance: evidence from India’s national stock exchange listed companies

International journal of disclosure and governance, 2022-06, Vol.19 (2), p.144-152 [Peer Reviewed Journal]

The Author(s), under exclusive licence to Springer Nature Limited 2021 ;The Author(s), under exclusive licence to Springer Nature Limited 2021. ;ISSN: 1741-3591 ;EISSN: 1746-6539 ;DOI: 10.1057/s41310-021-00138-w

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Title:
Corporate social responsibility and firm performance: evidence from India’s national stock exchange listed companies
Author: Mangalagiri, Jayasree ; Bhasa, Malla Praveen
Subjects: Accounting ; Accounting/Auditing ; Business and Management ; Competition ; Corporate Finance ; Corporate Governance ; Corporate image ; Costs ; Extractive industries ; Financial performance ; Investments ; Original Article ; Profit margins ; Profitability ; Securities markets ; Social responsibility ; Stakeholders ; Variables
Is Part Of: International journal of disclosure and governance, 2022-06, Vol.19 (2), p.144-152
Description: The paper aims to empirically investigate the influence of corporate social responsibility (CSR) on firm performance in Indian listed firms. We use regression analysis to determine the relationship between CSR and firm performance. Both accounting and market measures of firm performance have been deployed for the purpose of the study. We have found mixed evidence. While CSR has a positive impact on the accounting measure, it has a weak relationship with market-based returns. Our most significant finding in the study is that markets do not perceive the standard mandated CSR spends worthy of a reward. Instead, such spends are considered hygiene whereas expenditure made by firms in excess of the mandated CSR spends is rewarded by markets for their CSR conscious behaviour. We therefore advise the Indian companies to spend beyond the mandated CSR outlays if they are to improve on their market value.
Publisher: London: Palgrave Macmillan UK
Language: English
Identifier: ISSN: 1741-3591
EISSN: 1746-6539
DOI: 10.1057/s41310-021-00138-w
Source: ProQuest Central

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Corporate social responsibility and firm performance: evidence from India’s national stock exchange listed companies

The Author(s), under exclusive licence to Springer Nature Limited 2021 ;The Author(s), under exclusive licence to Springer Nature Limited 2021. ;ISSN: 1741-3591 ;EISSN: 1746-6539 ;DOI: 10.1057/s41310-021-00138-w

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