This study provides evidence on the governance of CSR policies and activities by Indian central government-owned companies [i.e. Central Public Sector Enterprises ] within a unique mandatory regulatory setting. We utilise the multi-level ‘Logic of governance’ conceptual framework and draw upon interview data collected from 25 senior managers in 21 CPSEs to assess the dynamics of CSR implementation within CPSEs. Our findings indicate most managers believe that a mandatory policy has enhanced the accountability and commitment of governing boards and senior (...) management to CSR. However, CSR policy implementation within Indian CPSEs is still nascent, fraught with bureaucratic hurdles, insufficient human and knowledge resources, limited stakeholder analysis and over-emphasis on CSR budget utilisation as an outcome. Several key areas for improvements include the need for better translation of national CSR policy goals to firm-level strategies, more formal assessment of stakeholder needs, clearer communication lines with external service providers, such as NGOs and local government agencies, and the better evaluation of CSR outcomes. The findings of this study have implications for both theory and policy development. (shrink)

This study reviews and synthesizes the contemporary business literature that focuses on the role of corporate social responsibility to enhance firm value. The main objective of this review is to proffer a precise understanding of what has already been investigated and the findings of those investigations regarding the value-enhancing capabilities of CSR for public firms. In addition, this review identifies gaps in the existing literature, evaluates inconsistent findings, discusses possible data sources for empirical researchers, and provides direction for exploring other (...) promising avenues in future studies. The thrust of the CSR literature largely acknowledges the value-enhancing capabilities of firms’ social and environmental activities. However, the predominance of inconsistent theoretical grounds in major CSR-benefits-related areas suggests that there is ample room for future research to contribute to the extant literature. Anecdotal evidence, the prevalence of theoretical arguments, and the availability of large cross-sectional firm-level data suggest that future research will enrich the literature by investigating the real insights behind several unanswered questions, by establishing implicit understandings regarding recognized findings, and by developing new theories in this emerging field. (shrink)

Social responsibility of business is not new to India. With regard to CSR, the country depicts one of the richest traditions of the world. Involvement of business people in the community as well as in social development has a glorious history in India. The term corporate social responsibility (CSR) might have originated from Western discourses but prior to it the idea of philanthropy in India has evolved from its own ethos and cultural values. Philanthropic activities undertaken by rich business titans (...) and the Gandhian trusteeship model are prominent distinctions of Indian CSR. But with the advent of liberalisation, privatisation and globalisation, the popularly called LPG policy during the early 1990s led to a fundamental shift from the philanthropy-based model to a multi-stakeholder perspective. During this phase, companies changed their approach and became responsible for all the stakeholders. The stakeholders include environment, community, customers, shareholders, suppliers and employees. In contemporary time, CSR has undergone a drastic change but some of the traditional features are still prevalent. The current paper has made an attempt to comprehend CSR practices in the context of Indian businesses in the early days, and major CSR initiatives during this time as well as during the post-independent period. Subsequently, CSR in the post-globalisation era with a focus on the Companies Act has been examined. Despite many unique characteristics, the paper critiques the practice of CSR by Indian companies in the current scenario. (shrink)

This article explores the nature of corporate social responsibility (CSR) and corporate reputation using qualitative research approach. Specifically, the relationship between CSR and corporate reputation is examined from the viewpoint of value theory. This paper brings up for discussion the various value priorities lying in the background of CSR actions. The aim is to form categories of value priorities around CSR and reputation, based on qualitative research approach. The main concepts in this paper – CSR, reputation and value – are (...) also defined. This paper further discusses the theory of value structure and content, which identifies certain principal values among different cultures. The data consist of eight interviews with employees of a newspaper company. The results suggest that value priorities play an influential role in CSR actions, influencing to the essence of certain reputation stories in the corporate context. (shrink)