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Research Paper | Commerce and Economic Studies | India | Volume 12 Issue 7, July 2023 | Rating: 4.9 / 10
The Impact of Corporate Social Responsibility Expenditure on Firm Profitability: An Examination of the IT and Pharmaceutical Sectors in India
Shivam Goyal
Abstract: This study delves into the relationship between Corporate Social Responsibility CSR expenditure and firm profitability, focusing on the IT and Pharmaceutical sectors in India. The research utilizes secondary data from corporate sustainability reports and annual reports of companies listed on the Bombay Stock Exchange BSE and the National Stock Exchange NSE from 2014 to 2022. The study reveals a statistically significant correlation between CSR expenditure and Return on Asset ROA in the IT sector, while no such correlation is observed in the Pharmaceutical sector. The findings suggest that the impact of CSR expenditure on firm profitability varies across sectors, and further research is needed to understand the underlying factors influencing this relationship.
Keywords: Corporate Social Responsibility, Firm Profitability, IT Sector, Pharmaceutical Sector, India
Edition: Volume 12 Issue 7, July 2023,
Pages: 2087 - 2090