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CSR disclosures and profit persistence: evidence from India

Author

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  • Dinesh Jaisinghani
  • Amritjot Kaur Sekhon

Abstract

Purpose - The purpose of the present study is to analyze the impact of corporate social responsibility (CSR) disclosures on firms' profitability and its persistence. Design/methodology/approach - The study has been conducted for listed firms operating in India from 2008 to 2017. Content analysis has been utilized to estimate the CSR disclosures score. Further, dynamic panel regression has been utilized to estimate the relationship between CSR disclosures and profit persistence. Findings - The results confirm positive profit persistence for Indian companies. The results further show that different dimensions of CSR disclosure have differential impact on firms' profitability. CSR dimensions concerning total community development and product-related disclosures have a positive relationship, whereas dimensions related to environmental and customer-related disclosures have a negative relationship with financial performance. The results also indicate that CSR disclosures are significantly related to profit persistence. Originality/value - The study is first of its kind that analyzes the impact of CSR disclosure on profit persistence for Indian companies. The results can provide useful implications for managers and regulators in terms of formulation of overall CSR policies.

Suggested Citation

  • Dinesh Jaisinghani & Amritjot Kaur Sekhon, 2020. "CSR disclosures and profit persistence: evidence from India," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 17(3), pages 705-724, November.
    • Handle: RePEc:eme:ijoemp:ijoem-03-2020-0246
    DOI: 10.1108/IJOEM-03-2020-0246
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    Cited by:

    1. Sandra Escamilla‐Solano & Antonio Fernández‐Portillo & Mari Cruz Sánchez‐Escobedo & Carmen Orden‐Cruz, 2024. "Corporate social responsibility disclosure: Mediating effects of the economic dimension on firm performance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 709-718, January.

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