CSR-CFP RELATIONSHIP IN INDIA - AN IDIOSYNCRATIC PESTEL CONTEXT AND RESEARCH AGENDA
Author(s): Girish Kumar Agrawal
Year : MAR-2015
CSR literature in the western context is replete with searches for links between corporate social responsibility and corporate financial performance (CSR-CFP) and mediating/moderating pressures.?? The Indian corporate sector, on the other hand, has been struggling while making a business case in the context of pursuing its CSR agenda. Under the new law effective since 2014, lawmakers in India have legislated the mandatoriness of CSR expenditure from the net profits of Indian companies to be spent on activities disconnected from businesses that are, at the same time, firmly rooted in the domain of social development. Going by the?? PESTEL conditions existing in India including???? facts like 89% private sector assets remaining under the control of a few business groups up till 1993, the worlda??s worst industrial disaster that occurred in 1984, and the first mandatory CSR law that emerged anywhere in the world. Choices exercised by firms and directions of CSR initiatives promise an interesting field of inquiry in the unfolding scenario. This paper explores academic research directions and lays out a framework for further research in a typical Indian context.