ISSN: 2349-5162

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Published in:

Volume 6 Issue 3
March-2019
eISSN: 2349-5162

Unique Identifier

JETIRAJ06019

Page Number

122-128

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Title

A Study on CSR (Corporate Social Responsibility)

ISSN

2349-5162

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"A Study on CSR (Corporate Social Responsibility)", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.122-128, March-2019, Available :http://www.jetir.org/papers/JETIRAJ06019.pdf

Abstract

Drawing on existing theoretical and empirical literature on the rationale behind Corporate Social Responsibility (CSR), this paper analyses the potential implications of mandated CSR under the recently enacted Companies Act, 2013 in India on firm incentives, likely responses of corporate that come under the ambit of the law, implications for resource availability and delivery of social goods, and the prospects and challenges of implementing mandated CSR. Insights into these issues are drawn by empirically examining the voluntary CSR behavior of a sample of 500 large companies listed on the Bombay Stock Exchange for the period 2003-2011 that predates the new regulation. The paper argues that notwithstanding the potential economic costs that may accompany mandated CSR, the provisions of the new Act are designed thoughtfully to balance the objectives of the corporation and its shareholders on the one hand and that of the society and its stakeholders on the other. However, addressing the challenges of implementation successfully would determine how far the objectives of the new regulations are met. Business can never ignore that fact that profit is a proactive part of its economic perspective. Therefore, there cannot be any argument against profit. The only concern is the process of earning profit and its distribution, which relates to the concept of CSR. The content of CSR is derived from the three words that CSR contains: corporate, social and responsibility. CSR includes both the relationship between corporations and with the societies which they interact with. The word responsibility in CSR concept, on the other hand, means the integral responsibilities of both the societies and corporations. Society in CSR includes all stakeholder and constituent groups which have a constant interest in the organization’s activities. CSR can be divided into three dimensions that are financial, ecological and social responsibility. The financial responsibility includes for example paying taxes and actions that prevent corruption. Paying attention, measuring and reporting environmental influences of business belong to the ecological dimension. Ecological responsibility also includes for example energy efficiency, using environmentally friendly technology, recycling and avoiding the use of noxious materials. The third dimension, social responsibility, includes procedures, practices and working circumstances that respect the human rights and are fair. This responsibility also extends to consumer related matters, such as product safety and marketing.

Key Words

A Study on CSR (Corporate Social Responsibility)

Cite This Article

"A Study on CSR (Corporate Social Responsibility)", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp122-128, March-2019, Available at : http://www.jetir.org/papers/JETIRAJ06019.pdf

Publication Details

Published Paper ID: JETIRAJ06019
Registration ID: 199472
Published In: Volume 6 | Issue 3 | Year March-2019
DOI (Digital Object Identifier):
Page No: 122-128
ISSN Number: 2349-5162

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Cite This Article

"A Study on CSR (Corporate Social Responsibility)", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp122-128, March-2019, Available at : http://www.jetir.org/papers/JETIRAJ06019.pdf




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