Examining the Impact of Corporate Social Responsibility on the Financial Performance of Indian Companies

被引:3
作者
Deb, Dipanita [1 ,2 ,4 ]
Gillet, Philippe [2 ]
Bernard, Philippe [3 ]
De, Anupam [1 ]
机构
[1] Natl Inst Technol, Dept Management Studies, Durgapur, West Bengal, India
[2] Univ Paris Saclay, Reseaux Innovat Terr & Mondialisat RITM, Paris, France
[3] PSL Univ, Univ Paris Dauphine, Paris, France
[4] Natl Inst Technol, Dept Management Studies, Durgapur 713209, West Bengal, India
关键词
Corporate social responsibility; ESG; social; financial performance; governance Environment; DATA ENVELOPMENT ANALYSIS; SUSTAINABLE DEVELOPMENT; FIRM VALUE; EFFICIENCY; DISCLOSURE; CSR; OWNERSHIP; STAKEHOLDERS; GOVERNANCE; INDICATORS;
D O I
10.1177/23197145221099682
中图分类号
F [经济];
学科分类号
02 ;
摘要
Corporates play a vital role in the economy and are subject to growing expectations from stakeholders. Therefore, it is essential to understand the financial impact of corporate social responsibility (CSR) on corporates' activities. This article examines the impact of CSR on 30 Bombay Stock Exchange (BSE)-listed corporate efficiencies by using multi-criteria decision-making models. The article emphasized the technical efficiency of 30 BSE-listed corporates and explored high-efficiency drivers. This study applies multiple methods, that is, data envelopment analysis and free disposal hull, to observe the efficiency rankings of the 30 BSE Index-listed companies for 6 years, that is, 2014-2020. In the second stage, we perform truncated regression analysis to validate our results on the association between CSR and the financial performance of the corporate. The findings suggest that 6 out of 30 corporates are technically efficient (TE = 1) in all frontier approaches.Furthermore, the outcomes portray those three pillars of CSR (i.e., environment, social and governance) are positively correlated with efficiency. Furthermore, it has also been observed that environment and social scores are positively related to return on assets. The findings can be helpful for the stakeholders, policymakers and management of the corporate as a guideline to implement CSR practices.
引用
收藏
页码:521 / 539
页数:19
相关论文
共 111 条
[1]   CSR disclosures and its determinants: evidence from Malaysian government link companies [J].
Abd Rahman, Nor Hawani Wan ;
Zain, Mustaffa Mohamed ;
Al-Haj, Norashfah Hanim Yaakop Yahaya .
SOCIAL RESPONSIBILITY JOURNAL, 2011, 7 (02) :181-+
[2]  
Aggarwal P., 2013, Global Journal of Management and Business Research Finance, V13, P61
[3]   Environmental Policies and Firm Value [J].
Al-Najjar, Basil ;
Anfimiadou, Aspioni .
BUSINESS STRATEGY AND THE ENVIRONMENT, 2012, 21 (01) :49-59
[4]   ESG impact on performance of US S&P 500-listed firms [J].
Alareeni, Bahaaeddin Ahmed ;
Hamdan, Allam .
CORPORATE GOVERNANCE-THE INTERNATIONAL JOURNAL OF BUSINESS IN SOCIETY, 2020, 20 (07) :1409-1428
[5]  
Ali H, 2018, International Journal of Business Ethics and Governance, V1, P36, DOI [10.51325/ijbeg.v1i2.15, 10.51325/ijbeg.v1i2.15, DOI 10.51325/IJBEG.V1I2.15]
[6]   Relationship of firm attributes, ownership structure and business network on climate change efforts: evidence from Malaysia [J].
Amran, Azlan ;
Ooi, Say Keat ;
Nejati, Mehran ;
Zulkafli, Abdul Hadi ;
Lim, Boey Ann .
INTERNATIONAL JOURNAL OF SUSTAINABLE DEVELOPMENT AND WORLD ECOLOGY, 2012, 19 (05) :406-414
[7]   Disclosure of non-financial information in the annual report A management-team perspective [J].
Arvidsson, Susanne .
JOURNAL OF INTELLECTUAL CAPITAL, 2011, 12 (02) :277-+
[8]  
AUPPERLE KE, 1985, ACAD MANAGE J, V28, P446, DOI 10.5465/256210
[9]   Dynamics of Stakeholders' Implications in the Institutionalization of the CSR Field in France and in the United States [J].
Avetisyan, Emma ;
Ferrary, Michel .
JOURNAL OF BUSINESS ETHICS, 2013, 115 (01) :115-133
[10]   Firm Value and the Quality of Sustainability Reporting in Australia [J].
Bachoo, Kaveen ;
Tan, Rebecca ;
Wilson, Mark .
AUSTRALIAN ACCOUNTING REVIEW, 2013, 23 (01) :67-87