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Impact of corporate social responsibility on financial performance of energy firms in India

Author

Listed:
  • Akanksha Shukla
  • Geetika

Abstract

Corporate social responsibility (CSR) is the obligation of firms towards society in which they exist. The research studies the relationship between the expenditure made on social responsibility activities and the profitability of the energy firms, which are highly polluting in nature. The study also examines the mediating effect of disclosure of CSR activities on the relationship between the two. The study is based on secondary data collected from the annual reports of 38 energy firms listed on Bombay Stock Exchange for the time period from 2010-2011 to 2016-2017. The mediating effect is tested using Preacher and Hayes (2004) approach through process macro of SPSS. The study found a positive and significant relationship between expenditure made on social responsibility activities and financial performance of the firms. The research also demonstrate that the disclosure of CSR activities partially mediate the relationship.

Suggested Citation

  • Akanksha Shukla & Geetika, 2022. "Impact of corporate social responsibility on financial performance of energy firms in India," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 16(1), pages 88-105.
    • Handle: RePEc:ids:ijbget:v:16:y:2022:i:1:p:88-105
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    Cited by:

    1. José Manuel Maside‐Sanfiz & Óscar Suárez Fernández & María‐Celia López‐Penabad & Mohammad Omar Alzghoul, 2024. "Does corporate social performance improve environmentally adjusted efficiency? Evidence from the energy sector," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1510-1530, May.
    2. Nikolai I. Berzon & Maksim M. Novikov & Elena L. Pozharskaya & Yulia I. Bakhturina, 2022. "Monitoring the Modern Experience of Financial Risk Management in Russia Based on Corporate Social Responsibility for Sustainable Development," Risks, MDPI, vol. 10(5), pages 1-16, April.
    3. Suchismita Ghosh & Ritu Pareek & Tarak Nath Sahu, 2023. "U‐shaped relationship between environmental performance and financial performance of non‐financial companies: An empirical assessment," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1805-1815, July.

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