• Rekha Rani
• Shweta Sharda
• Manoj Kumar Agarwal

Abstract: The engagement of corporate boards in meeting the expectations of various stakeholders holds prime importance in today’s context. However, decisions regarding spending funds on such initiatives involve managerial discretion. The purpose of this paper is to examine the impact of ownership patterns on CSR expenditure of selected Indian firms. The study is based on an empirical investigation of the relationship using a panel dataset of 377 Indian firms listed on the Nifty 500 over the period 2015 to 2021. The panel regression analysis revealed heterogeneous behavior of ownership in firms. The promoter ownership has a negative impact on CSR investments while both government, as well as institutional ownership, are insignificant. The findings indicate that corporate governance policies, particularly concerning the degree of promoter’s control in Indian companies need to be reviewed to address the company’s accountability to society. It recommends the government set stringent rules so that promoters don't hold more than a predetermined percentage of the company’s shareholding. Additionally, whenever possible, key management positions in the company, including CEO/Chairman or both, should be assigned to non-promoters to prevent promoter dominance.

Keywords: India, Corporate Social Responsibility, Ownership Structure, Promotors, Institutional Ownership. JEL Classification: C33,G32, G34, G38, M14

"Impact of Ownership Pattern on CSR Spending: Evidence from India ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 1, page no.g246-g261, January-2023, Available :http://www.jetir.org/papers/JETIR2301634.pdf

"Impact of Ownership Pattern on CSR Spending: Evidence from India ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 1, page no. ppg246-g261, January-2023, Available at : http://www.jetir.org/papers/JETIR2301634.pdf