Corporate social responsibility in the time of COVID-19 pandemic: An exploratory study of developing country corporates

Gokarna, Poojaa; Krishnamoorthy, Bala

doi:10.22495/cgsrv5i3p6

Cited by 5 publications

(1 citation statement)

References 21 publications

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“…The research is based on interviews with 27 CSR managers responsible for developing and implementing CSR initiatives in their firms. The findings demonstrate corporate dedication to reducing the virus’s impact through various CSR measures (Gokarna & Krishnamoorthy, 2021).…”

Section: Evaluating the Existing Literature In Indiamentioning

confidence: 81%

An Empirical Study on the Corporate Social Responsibility Regime in India: Pre-COVID and COVID Times

Garg

Agarwal

2021

Review of Market Integration

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Companies have shown social responsibility towards their stakeholders through corporate philanthropic efforts, known as Corporate Social Responsibility (‘CSR’). These efforts aim to maximise the welfare of the stakeholders and take care of the needs of society. The parent legislation for the Indian companies, that is, the Companies Act, brought a paradigm shift in 2013 when it mandated certain companies to spend mandatorily on CSR activities. Since then, the CSR legislation has been subject to frequent changes through amendments and clarifications. Various changes were brought to CSR policies in the past 2 years during COVID-19, including allocation of CSR funds towards COVID-19 relief funds, carry forward of excessive CSR expenditure and 100% tax deduction on COVID-19-related activities. This has affected how companies allocate their CSR funds. To study this change, this empirical study analyses the shifts in CSR expenditure of the top 25 companies of the Fortune 500 list in pre-COVID-19 financial year 2017–2018 and COVID-19 hit financial year 2020–2021. The study uses a secondary data collection method, that is, self-reported annual reports, to arrive at ratios given as percentages or fractions, and a comparison is made across the two periods. The authors deliberate upon the limitations of the CSR regime as revealed by the COVID-19 pandemic and address questions relating to the CSR regime’s efficiency in providing societal good. Furthermore, the authors study the modified CSR expenditure pattern adopted by several companies consequent of COVID-19. This study concludes by offering recommendations that strive to inspire a more sustainable, efficient and pragmatic CSR regime in India. JEL Codes: G39, D22, M14

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Section: Evaluating the Existing Literature In Indiamentioning

confidence: 81%

An Empirical Study on the Corporate Social Responsibility Regime in India: Pre-COVID and COVID Times

Garg

Agarwal

2021

Review of Market Integration

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Business Responses to COVID-19 Through CSR: A Study of Selected Companies in India

Ghosh

2023

CSR, Sustainability, Ethics &Amp; Governance

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Corporate social responsibility and COVID-19 pandemic: an analytical view of community attitude

Singh,

Sharma

2024

IIMTJM

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PurposeIn the course of worldwide COVID-19, the phenomenon of corporate social responsibility (CSR) gained more importance and publicity. Many organizations made a significant contribution in dealing with the crisis situation and even increased their spending on the welfare activities. This study aims to evaluate the attitude of community, especially young generation, towards the CSR undertaken by the organization during the pandemic period.Design/methodology/approachDescriptive research design has been employed using purposive sampling for data collection through a structured questionnaire. A sample of 550 was taken, and pilot survey was conducted among 100 respondents before administering it at full scale. A model has been proposed and tested by using structural equation modelling in AMOS.FindingsThe results of the study show that compulsory provisions of CSR have enhanced the trust of community and made the organizations more responsive towards philanthropic, legal, ethical and economic responsibility. The respondents were found to be aware about the welfare activities carried out by the organizations and developed a positive attitude towards them.Research limitations/implicationsFirst, the study is limited to examining the attitude of community towards CSR, especially young generation. Second, it is difficult to say whether outcomes of this study can be generalized for such other potential global crisis. Third, the study is based on the Carroll’s “CSR Pyramid” framework when other such frameworks and approaches could be available to analyse the impact of COVID-19-related CSR initiatives. Last, this study has been conducted only in the state of Maharashtra, and results may not be applicable to other states as well other countries.Practical implicationsThe findings of the study may help the organizations to plan their activities in line with the amendments made time to time. This shall also help the regulating agencies to monitor and catch the wrongdoers and take appropriate action. Findings of such studies, based on public opinion, can also help the governments to make further amendments, time to time, in related acts. It can also be said that with the involvement of public/society, more transparency can be brought in the functioning of the organizations, especially in the context of CSR.Social implicationsEarlier, most of the organizations were falsely recording the CSR expenditure in their balance sheets without actually spending it, but the amendment in act has made it compulsory for the organizations to follow it honestly. The pandemic period gave an opportunity to the society to evaluate the organizations on these parameters and to make their opinion about them in real time. Therefore, it is concluded that pandemic has created awareness in the society and significantly influenced their attitude about CSR activities. This shall also help the organizations feel a pressure in future while planning and implementing the activities under CSR.Originality/valueThe results of the study show contribution of the corporate towards social welfare during pandemic. The results would help the policymakers to monitor the execution of practices more closely and organizations to execute their strategies in a more effective manner.

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Corporate social responsibility in the time of COVID-19 pandemic: An exploratory study of developing country corporates

Cited by 5 publications

References 21 publications

An Empirical Study on the Corporate Social Responsibility Regime in India: Pre-COVID and COVID Times

An Empirical Study on the Corporate Social Responsibility Regime in India: Pre-COVID and COVID Times

Business Responses to COVID-19 Through CSR: A Study of Selected Companies in India

Corporate social responsibility and COVID-19 pandemic: an analytical view of community attitude

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