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Firm Characteristics and CSR Rating: Empirical Evidence from India

Firm Characteristics and CSR Rating: Empirical Evidence from India. Ms. Neeta Jain Finance Faculty ,NIMS University,Jaipur and Shyam Sunder Mishra BBA III Year Student, NIMS University,Jaipur. 2. Objectives of the study.

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Firm Characteristics and CSR Rating: Empirical Evidence from India

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  1. Firm Characteristics and CSR Rating: Empirical Evidence from India Ms. Neeta Jain Finance Faculty ,NIMS University,Jaipur and Shyam Sunder Mishra BBA III Year Student, NIMS University,Jaipur

  2. 2. Objectives of the study • 1. To find out the relationship between Firm characteristics and CSR Rating in India. • 2. To see the dependency of CSR rating on Firm characteristics in India.

  3. What is CSR ? • Corporate Social Responsibility (CSR) is defined as operating a business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business . -(Muruganantham, 2010).

  4. Stakeholders of CSR (Deegan and Samkin, 2001)

  5. Data • In this study 440 companies are randomly taken from rating list of 2009 from www.karmayog.org. • Data for all dependent and independent variables were taken from this website. • Company rating is taken proxy for CSR practices of the companies. • Independent variables are sales, profit before tax, no. of employees and age of the firm.

  6. Methodology • Descriptive statistics, correlation analysis and stepwise regression analysis was carried out.

  7. Hypotheses • 1. Age of the Firm H1: There is a positive association between age of the firm and CSR rating. 2. Sales Volume H2: There is positive relationship between sales volume and CSR rating.

  8. 3.Profit before Tax H3: There is positive relationship between profitability and CSR rating. 4. No. of Employees H4: There is positive relationship between no. of employees and CSR rating.

  9. Correlation Analysis

  10. Stepwise Regression Analysis • Excluded Variables • Age of the firm • Profit before Tax(in Rs. Crores)

  11. Model Characteristics • Model Predictability - R Square – 0.362 • Model Significance –F Statics- 33.025(0.00)

  12. Conclusion This study found no. of employees and sales volume as significant variables of CSR rating and these variables has positive impact on CSR rating that means firms with higher sales volume and large no. of employees has higher CSR rating. Age of the firm and PBT do not have significant impact on CSR rating in India.

  13. Limitation of the study • As CSR rating data were taken from secondary source, therefore accuracy of rating depend on the data source. Further scope • Further studies can look at whether CSR rating affects sales volume, no. of employees, profitability for the following 5 years. Positive findings from these studies can encourage companies to be socially responsible.

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