Measurement of Corporate Social Responsibility of Financial Companies in the Indian Context

Title

Measurement of Corporate Social Responsibility of Financial Companies in the Indian Context

Creator

Sachdeva S.; Ramesh L.; Mathew M.; Manu K.S.

Description

Purpose: This study aimed to measure the corporate social responsibility (CSR) activities of financial companies (banks and NBFCs) in India. This paper used content analysis to quantify the CSR performance of financial companies. Financial institutions loan money to businesses utilizing assets owned by saving bank account holders, thereby heightening their societal responsibility. Methodology: Data from 63 financial companies listed on the National Stock Exchange from 20142015 to 20202021 were considered. Cronbachs alpha, descriptive statistics, and z-score test were used in this research to check the reliability and normality of the CSR scores. Findings: The results showed that private sector banks proactively participated in social activities compared to public sector banks (PSB) and non-banking financial institutions (NBFCs). Scores of CSR improved during the study period. Practical Implications: The study will allow future research because every issue and factor considered in the scale needs attention to benefit humankinds future generations. Calculated CSR scores could be used to measure the impact on the financial performance of companies. Originality: Unlike prior research on corporate social responsibility, the current work built a model to measure the CSR of financial companies. 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.

Source

Indian Journal of Finance, Vol-17, No. 12, pp. 56-72.

Date

2023-01-01

Publisher

Associated Management Consultants Pvt. Ltd.

Subject

and content analysis; corporate social responsibility; NBFCs; private banks; public sector banks

Coverage

Sachdeva S., School of Business and Management, Christ (Deemed to be University), Hosur Road, Karnataka, Bangalore, 560 024, India; Ramesh L., School of Business and Management, Christ (Deemed to be University), Hosur Road, Karnataka, Bangalore, 560 024, India; Mathew M., School of Business and Management, Christ (Deemed to be University), Hosur Road, Karnataka, Bangalore, 560 024, India; Manu K.S., School of Business and Management, Christ (Deemed to be University), Hosur Road, Karnataka, Bangalore, 560 024, India

Rights

Restricted Access

Relation

ISSN: 9738711

Format

Online

Language

English

Type

Article

Identifier

https://doi.org/10.17010/ijf/2023/v17i12/172059

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85180443874&doi=10.17010%2fijf%2f2023%2fv17i12%2f172059&partnerID=40&md5=a67490723fd812ccc650f42552f63d91