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Corporate Social Responsibility and Corporate Financial Performance: Evidence from Indian Capital Market

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  • Lakshmi Viswanathan

Abstract

The concept of corporate social responsibility (CSR) is welcomed with more enthusiasm in recent years. The present study, is a four phase investigation of the corporate financial performance of socially responsible firms relative to other firms, listed in Bombay Stock Exchange. We start with a comparative analysis of financial performance of CSR and non-CSR firms and then proceed to explore industry-specific effects. After identification of significant factors contributing to financial performance, we conduct an analysis to check for the feed-back effect on CSR using Probit model. We also compute the probability with which a firm is more likely to adopt CSR due to improvement in any of the significant factors.

Suggested Citation

  • Lakshmi Viswanathan, 2016. "Corporate Social Responsibility and Corporate Financial Performance: Evidence from Indian Capital Market," Asian Journal of Empirical Research, Asian Economic and Social Society, vol. 6(9), pages 240-248.
    • Handle: RePEc:asi:ajoerj:v:6:y:2016:i:9:p:240-248:id:3935
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