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Ownership and corporate social responsibility in Indian firms

Author

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  • Vidya Sukumara Panicker

Abstract

Purpose - The purpose of this paper is to look at the association between different ownership categories and corporate social responsibility (CSR) spending of selected Indian firms. Design/methodology/approach - Random-effects Tobit panel regression is performed on a panel of 4,388 firm years of 1,722 unique firms over a three-year period (2014-2016). Findings - Different categories of institutional investors have different preferences for CSR spending of a firm. Promoters of business-group affiliated and unaffiliated firms also behave differently towards CSR activities of their firms. Research limitations/implications - Heterogeneous behavior of institutional investors is revealed through the study. Foreign institutions and domestic banks are supportive of CSR investments of a firm. Promoters of family firms and group affiliates also diligently plan CSR activities. Practical implications - Managers cannot ignore the heterogeneities of institutional investors in their investment decisions. Individual investors can align their philanthropic preferences with those of different types of institutional investors or firms. Social implications - Family-owned firms play a significant role in CSR activities of emerging economies, while individual promoters are not as attracted by the reputational prospects of CSR. Originality/value - This paper considers the role of heterogeneities of institutional investors in influencing CSR spending of emerging-economy firms. This heterogeneity has not been previously studied in this context.

Suggested Citation

  • Vidya Sukumara Panicker, 2017. "Ownership and corporate social responsibility in Indian firms," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 13(4), pages 714-727, October.
    • Handle: RePEc:eme:srjpps:srj-02-2017-0030
    DOI: 10.1108/SRJ-02-2017-0030
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    Citations

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    Cited by:

    1. Martí-Ballester, Carmen-Pilar, 2022. "Do renewable energy mutual funds advance towards clean energy-related sustainable development goals?," Renewable Energy, Elsevier, vol. 195(C), pages 1155-1164.
    2. Nishanthi Kariyapperuma & Eva Collins, 2021. "Family logics and environmental sustainability: A study of the New Zealand wine industry," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3626-3650, December.
    3. Sandeep Yadav, 2020. "Institutional Ownership and Corporate Social Performance in Emerging Economies Multinationals: Evidence from India," Indian Journal of Corporate Governance, , vol. 13(2), pages 227-252, December.
    4. Saier Su & Fei Zhu & Haibo Zhou, 2022. "A Systematic Literature Review on Ownership and Corporate Social Responsibility in Family Firms," Sustainability, MDPI, vol. 14(13), pages 1-25, June.
    5. Patrick Velte, 2023. "Which institutional investors drive corporate sustainability? A systematic literature review," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 42-71, January.
    6. Olena Liakh & Francesca Spigarelli, 2020. "Managing Corporate Sustainability and Responsibility Efficiently: A Review of Existing Literature on Business Groups and Networks," Sustainability, MDPI, vol. 12(18), pages 1-42, September.
    7. Hend Alregab, 2022. "The Role of Environmental, Social, and Governance Performance on Attracting Foreign Ownership: Evidence from Saudi Arabia," Sustainability, MDPI, vol. 14(23), pages 1-15, November.

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