A Study of the Relationship Between Corporate Social Responsibility Initiatives, Their Disclosures, and the Corporate Financial Performance of Select Companies in the Automotive Sector in India.
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Abstract
A recent upsurge of illegal and ethical misconduct incidents spanning the globe has intensified public scrutiny of corporate behavior. Corporate Social Responsibility (CSR) is not a mere business buzzword or a fad, rather it is one of the most promising management topics of mounting significance for businesses. Proponents argue that there is a robust business case for CSR, as the corporations benefit in multiple ways by operating with a wider perspective which goes beyond their short-term profits. Some critics argue that CSR sidetracks from the essential economic role of businesses; others opine that it is nothing more than artificial window-dressing; others yet are of the belief that it is an endeavor to pre-empt the role of governments as a watchdog over influential multinational corporations. In the foreign studies studied till date, possibly the maximum studied facet of CSR has been its link to Corporate Financial Performance.
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