Corporate social responsibility and financial performance in selected companies of India: an event study approach

Neena Sinha, Miklesh Prasad Yadav and Timcy Sachdeva

International Journal of Business and Globalisation, 2022, vol. 32, issue 2/3, 322-335

Abstract: The present study examines the impact of corporate social responsibility (CSR) on financial performance of Indian companies. The proxies for the CSR and financial performance are sustainability award announced by Confederation of Indian Industry (CII-ITC) and stock price. The study is based on the 32 companies awarded by CII-ITC Sustainability Award during 2010-2011 to 2016-2017. After collecting the data of stock price of entire sample companies, an event study methodology has been applied to observe the impact of corporate social responsibility on abnormal return in window period -40 days to +40 days considering window estimation period 200 days. The results reveal insignificant relationship between CSR and financial performance during pre and post announcement of sustainability award.

Keywords: corporate social responsibility; CSR; financial performance; sustainability awards; event study; shareholders wealth; India. (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=127372 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbglo:v:32:y:2022:i:2/3:p:322-335

Access Statistics for this article

More articles in International Journal of Business and Globalisation from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().