A Study of Impact on Financial Performance of Top listed Indian Companies with Reference to Emission of Carbon and Harmful Gases related CSR Disclosure Practices
Corporate Social Responsibility (CSR) as a notion has been the focal point of various considerations and much research over the past few years; and has occupied a significant role in the academic and business area. Evolving all the time, it has deformed from a purely charitable to a structural and finally tactical activity. For an organization to be victorious, creating earnings is the main aim but at the same time it conveys the consciousness of being socially responsible. India is the first country to have legislated CSR mandates. It is very probable that the new legislation will be a game-changer, inspiring new investments, judicious attempts and responsibility in the way CSR is being formed and survived in India. CSR Disclosures are basically categorized into Mandatory and Voluntary practices of disclosure. Firm’s performance and reputation are linked with Voluntary disclosure patterns. Various categories like Environment, Human resource, Community involvement, Energy etc. affect CSR Disclosure which in turn affects the financial performance of the firm which is relevant for the stakeholders of the firm. This paper makes a humble attempt to study the various corporate characteristics like size and age of the company, sectorial influence and ownership concentration on emission of carbon and harmful gases. It also attempts to study the CSR disclosure score of the company, which in turn affects the financial performance of the company measured by ROA, ROE and Tobins Q of the Company.
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