2024, Vol. 5, Issue 1, Part B
Does corporate social responsibility influence the financial success of firms? Evidence from the Indian corporate sector
Author(s): Harish Kumar and Mehak Upveja
Abstract: The present study aims to investigate the potential existence of a systematic relationship between CSR-CFP using the Nifty 100 index of publicly traded Indian companies. The study utilized a dataset spanning the years 2014 to 2022 and employed correlation and regression analysis to investigate the association between both. The research revealed a significant positive correlation between the CSR initiatives and ROE and ROCE while indicating a negative correlation with Return on Assets. In general, the mixed impact of CSR activities on the overall success of a business is indicated. This work adds to the CSR-FP literature; moreover, the findings of this study hold significant implications for various stakeholders such as managers, investors, and others. Organizations with a higher level of CSR can establish a positive brand image, draw in skilled personnel, generate increased profits, cultivate customer loyalty, and experience reduced susceptibility to corruption and bribery. The results of the study have the potential to exert a significant impact on all sectors. As a result, these companies may be motivated to allocate a portion of their profits toward the betterment of society.
Pages: 117-122 | Views: 156 | Downloads: 94
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How to cite this article:
Harish Kumar, Mehak Upveja. Does corporate social responsibility influence the financial success of firms? Evidence from the Indian corporate sector. Asian J Manage Commerce 2024;5(1):117-122.
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