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20191
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Subject: Agricultural Business Management × Author: Amritjot Kaur × Thesis Type: Ph.D ×
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    ThesisItemOpen Access
    Corporate Social Responsibility in India: A Study of Disclosures and Relevance
    (Punjab Agricultural University, Ludhiana, 2019) Amritjot Kaur; Kathuria, Lalit Mohan
    The present study was undertaken with the objectives to analyze corporate social responsibility disclosures made by selected Indian companies; to study the relationship between corporate social responsibility and financial performance of selected companies; and to develop case studies regarding corporate social responsibility initiatives undertaken by selected companies. First two objectives were achieved by analyzing secondary data from annual reports of 137 companies for a period of ten years from 2007-08 to 2016-17. Companies were selected on the basis of market capitalization from CNX 500 index. For achieving third objective, both primary and secondary data were collected for selected five companies having manufacturing facilities in North India. Content analysis, mean score, standard deviation, trend analysis, analysis of variance and panel data regression were used for analysis. The results highlighted that most of Indian companies made corporate social responsibility disclosures in their annual reports over selected time period. Also, it was observed that disclosures have increased continuously across all sectors and industry groups over the time period. Further, it was found that financial disclosures are gaining popularity over the years but still qualitative disclosures are most favored and preferred by all the companies. It was found that maximum disclosures were in the „community development‟ and „human resource‟ themes, while least amount of disclosures was made in „emission of carbon and harmful gases‟ theme. Further, the relationship between corporate social responsibility and financial performance indicators (return on assets, return on equity and net profit margin) was investigated using panel data regression. The results highlighted that relationship between corporate social responsibility and return on equity as well as net profit margin was significant and negative, while no significant relationship was found between return on assets and corporate social responsibility. However, results on relationship between financial performance indicators and corporate social responsibility with one year, two years and three years lag were significant and negative with only return on equity. It was observed that the selected companies (for case studies) were actively involved in social responsibility initiatives mostly around their manufacturing units. Ambuja Cements Limited and Dabur India Limited were undertaking appreciable CSR initiatives. Based on the findings of the study it is recommended that instead of duplicating similar efforts the companies in India should think innovatively and initiate projects to ensure sustainable development to create a bigger impact on the society. The companies should also widen up their area of intervention by taking up social responsibility projects not only for the communities that live around its manufacturing plants but also for other needy communities living in other parts of the country.