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Corporate Social Responsibility, Corporate Governance and Sustainability: Synergies and Inter-relationships

Author

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  • J.P. Sharma
  • Swati Khanna

Abstract

This paper seeks to explore the association between corporate social responsibility, corporate governance and sustainability by empirically studying the interrelationship between these through correlation analysis. Findings from the study revealed that (a) a very low negative insignificant correlation exists between corporate social responsibility and corporate governance; (b) a positive low and insignificant correlation is observed between corporate governance and sustainability; and (c) significant correlation is found between corporate social responsibility and sustainability. The study recommends theme of corporate social responsibility and sustainability should be embedded within the governance practices of the firms. A separate board committee on sustainability and mandatory reporting on its activities should be formed to facilitate transparent disclosures on corporate social responsibility and sustainability practices. Mandatory reporting on corporate social responsibility and sustainability along with reporting on Clause 49 of the Listing Agreement norms will augment the quality of information available to stakeholders in terms of economic, environmental and social performance of firms.

Suggested Citation

  • J.P. Sharma & Swati Khanna, 2014. "Corporate Social Responsibility, Corporate Governance and Sustainability: Synergies and Inter-relationships," Indian Journal of Corporate Governance, , vol. 7(1), pages 14-38, January.
    • Handle: RePEc:sae:ijcgvn:v:7:y:2014:i:1:p:14-38
    DOI: 10.1177/0974686220140102
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    Citations

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    Cited by:

    1. Haifeng Zhang & Zhuo Zhang & Ekaterina Steklova, 2020. "Do Companies Need Financial Flexibility for Sustainable Development?," Sustainability, MDPI, vol. 12(5), pages 1-14, February.
    2. Amin, Marian H. & Mohamed, Ehab K.A. & Elragal, Ahmed, 2021. "CSR disclosure on Twitter: Evidence from the UK," International Journal of Accounting Information Systems, Elsevier, vol. 40(C).
    3. Ritu Pareek & Krishna Dayal Pandey & Tarak Nath Sahu, 2019. "Corporate Governance, Firms’ Characteristics and Environmental Performance Disclosure Practices of Indian Companies," Indian Journal of Corporate Governance, , vol. 12(2), pages 142-155, December.
    4. Ionela-Carmen, PIRNEA & Raluca-Andreea, POPA, 2015. "Relationship Social Responsibility – Sustenability At The Enterprise Level," Management Strategies Journal, Constantin Brancoveanu University, vol. 28(2), pages 51-59.
    5. Andrea Cardoni & Evgeniia Kiseleva & Simona Arduini & Simone Terzani, 2024. "From sustainable value to shareholder value: The impact of sustainable governance and anti‐corruption programs on market valuation," Business Strategy and the Environment, Wiley Blackwell, vol. 33(1), pages 19-42, January.
    6. Antonio Corvino & Federica Doni & Silvio Bianchi Martini, 2020. "Corporate Governance, Integrated Reporting and Environmental Disclosure: Evidence from the South African Context," Sustainability, MDPI, vol. 12(12), pages 1-19, June.

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