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Corporate Social Responsibility Funding and Its Impact on India’s Sustainable Development: Using the Poverty Score as a Moderator

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Listed:
  • Rahul Singh Gautam

    (Symbiosis Institute of Business Management, Symbiosis International (Deemed University), Pune 412115, India)

  • Venkata Mrudula Bhimavarapu

    (Symbiosis School of Banking and Finance, Symbiosis International (Deemed University), Pune 412115, India)

  • Shailesh Rastogi

    (Symbiosis Institute of Business Management, Symbiosis International (Deemed University), Pune 412115, India)

  • Jyoti Mehndiratta Kappal

    (Symbiosis School of Banking and Finance, Symbiosis International (Deemed University), Pune 412115, India)

  • Hitesh Patole

    (Symbiosis School of Culinary Arts, Symbiosis International (Deemed University), Pune 412115, India)

  • Aman Pushp

    (Symbiosis Institute of Business Management, Symbiosis International (Deemed University), Pune 412115, India)

Abstract

This study investigates the impact of corporate social responsibility (CSR) funding in the education sector and the environment and how it affects India’s sustainable development. This study was conducted using secondary data and the data were collected from 28 Indian states and three union territories for the four fiscal years 2018 to 2021. This study examines the hypothesis using the generalized method of moments (GMM). As a result, it is found that overall CSR funding positively contributes to India’s sustainable development. Additionally, this study finds that CSR funding in education and the environment supports India’s sustainable development. It is also observed that, under the interaction effect of poverty (poverty score), CSR funding (total) and CSR funding on education positively affect sustainable growth. However, CSR funding for environmental activities does not significantly influence India’s FD under the moderation of poverty score. These factors are essential for India’s sustainable development and poverty reduction. Investing CSR funds in rural development, education, the environment, health, and other areas supporting India’s sustainable development leads to impressive economic growth and reduces poverty. Hence, it is attributed that CSR funding plays a vital role in India’s sustainable development. Future research can be carried out on CSR policies and funding using different variables and periods.

Suggested Citation

  • Rahul Singh Gautam & Venkata Mrudula Bhimavarapu & Shailesh Rastogi & Jyoti Mehndiratta Kappal & Hitesh Patole & Aman Pushp, 2023. "Corporate Social Responsibility Funding and Its Impact on India’s Sustainable Development: Using the Poverty Score as a Moderator," JRFM, MDPI, vol. 16(2), pages 1-12, February.
    • Handle: RePEc:gam:jjrfmx:v:16:y:2023:i:2:p:90-:d:1056688
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    References listed on IDEAS

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    1. James J. Cordeiro & Ambra Galeazzo & Tara Shankar Shaw & Rajaram Veliyath & M. K. Nandakumar, 2018. "Correction to: Ownership influences on corporate social responsibility in the Indian context," Asia Pacific Journal of Management, Springer, vol. 35(4), pages 1137-1137, December.
    2. Bhaskar Chatterjee & Nayan Mitra, 2017. "CSR should contribute to the national agenda in emerging economies - the ‘Chatterjee Model’," International Journal of Corporate Social Responsibility, Springer, vol. 2(1), pages 1-11, December.
    3. Amr ElAlfy & Nicholas Palaschuk & Dina El-Bassiouny & Jeffrey Wilson & Olaf Weber, 2020. "Scoping the Evolution of Corporate Social Responsibility (CSR) Research in the Sustainable Development Goals (SDGs) Era," Sustainability, MDPI, vol. 12(14), pages 1-21, July.
    4. Meeta Sengupta, 2017. "Impact of CSR on Education Sector," CSR, Sustainability, Ethics & Governance, in: Nayan Mitra & René Schmidpeter (ed.), Corporate Social Responsibility in India, pages 33-50, Springer.
    5. James J. Cordeiro & Ambra Galeazzo & Tara Shankar Shaw & Rajaram Veliyath & M. K. Nandakumar, 2018. "Ownership influences on corporate social responsibility in the Indian context," Asia Pacific Journal of Management, Springer, vol. 35(4), pages 1107-1136, December.
    6. Dr. B. Revathy, 2012. "Corporate Social Responsibility – An Implementation Guide For Business," Far East Journal of Psychology and Business, Far East Research Centre, vol. 6(2), pages 15-31, February.
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