IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON FINANCIAL PERFORMANCE OF NON-BANKING FINANCIAL COMPANIES : AN EVIDENCE FROM INDIA
Description
Corporate social responsibility (CSR) refers to a company’s duty to engage in business in a way that supports social welfare initiatives in addition to its primary goal of generating profits. There is a perception that financial success and social responsibility are at odds with one another. Interesting though it may seem, they work best together. The current study examines CSR in Indian NBFCs. In this study, the impact of CSR on Indian NBFCs’ financial performance as well as the relationship between corporate social responsibility and financial performance are explored. The current study discovered that only CSR expenditure and CSR activities have a correlation with Profit After Tax and Return on Assets, whereas Return on Equity and Return On Capital Employed only have a relationship with CSR expenditure. Also, the analysis discovered that CSR Expense in terms of PAT, ROA, ROE, and ROCE is the only CSR variable that has had an impact on financial performance.