Does CSR lead to Financial performance of a company?-An empirical study on the basis of Indian companies Pal Jayanta1*, Dr Dutta Uttam kumar23 1Research Scholar, Department of Commerce and Management, West Bengal State University. 2Professor (retired), Department of Commerce and Management, West Bengal State University 3Presently Professor of Commerce, School of Professional Studies, Netaji Subhas Open University, West Bengal *Email: jpal.pal1966@gmail.com
Online published on 30 May, 2021. Abstract This empirical paper examines the relationship between Corporate Social Responsibility and Financial performance taking top 10 leading companies in CSR in India for the period of 2014 to 2017. This paper is based on secondary data taken from annual reports and sustainability reports available from companies’ websites. CSR spending by each company for all four years have been taken as the proxy of CSR performance of companies. Sales growth and Profitability of companies are taken as indicators of Financial Performance of companies. Control variables are the size of the firm and the financial risks of companies. Panel data of this paper have been analysed by Panel regression model in STATA. The result of this paper is that CSR has an effect on Sales-growth and Profitability of companies. Top Key Words Corporate Social Responsibility, Financial Performance, CSR spending, Sales growth. Top |