Corporate Social Responsibility and Firm Performance in the Indian Context

Authors

DOI:

https://doi.org/10.52459/jowett24160922

Keywords:

Corporate Social Responsibility (CSR), Firm Performance, Corporate Governance, Tobin’s Q, India

Abstract

In this study, we examine the impact of Corporate Social Responsibility (CSR) as a measure of Corporate Governance on firm performance for 348 firms in the NSE 500 Index listed in the National Stock Exchange (NSE) of India for the period 2012-2019. The results show that the total amount spent on CSR by the firms has a negative impact on the firm performance as there is a significant difference between the total amount incurred to be spent on CSR as per amendments in the Companies Act, 2013 and the total amount actually spent on CSR by the firms. It’s concluded that the number of CSR meetings held had no significant impact on firm performance. Results also show that firm size moderates the relationship between CSR and firm performance.

 

CITE THIS PAPER:

Hayat, Feeroz; Naim, Hamza; Aziz, Tariq (2022). "Corporate Social Responsibility and Firm Performance in the Indian Context" Journal of World Economy: Transformations & Transitions (JOWETT) 2(04):16. DOI: https://doi.org/10.52459/jowett24160922

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Author Biographies

Feeroz HAYAT, Faculty of Management Studies and Research-Aligarh Muslim University-Aligarh, India

is a research scholar in the area of finance under the supervision of Dr. Tariq Aziz. His research interest includes corporate finance and corporate social responsibility (CSR).

Hamza NAIM, Faculty of Management Studies and Research-Aligarh Muslim University-Aligarh, India

is a research scholar in the area of finance under the supervision of Dr. Tariq Aziz. He has a NET (National Eligibility Test) qualification and his research interest include corporate finance and corporate governance.

Tariq AZIZ, Faculty of Management Studies and Research-Aligarh Muslim University-Aligarh, India

has a Ph.D. in Finance, an MBA, and a Bachelor degree in Commerce from Aligarh Muslim University. He was a recipient of Junior (JRF) and Senior Research Fellowship (SRF) of UGC. He got the Best Paper Award at the 7th Doctoral Colloquium-2013 at IIM-Ahmedabad and the "Special Mention Paper Award" at PAN-IIM World Management Conference (WMC) 2019. His research interests lie in asset pricing and behavioural finance and has various publications.

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2022-09-09

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