Effect of Corporate Social Responsibility (CSR) and its Positive Impact on the Firm Performance in India

Abstract

This research study explores the effect of Corporate Social Responsibility (CSR) on firm performance. The study examines the positive impact of CSR initiatives on a firm's financial and non-financial performance, including reputation, brand image, customer loyalty, cost savings, employee engagement, stakeholder relationships, and risk management. Through a comprehensive review of existing literature, the study provides evidence to support the view that CSR should be an integral part of any business strategy, as it can contribute to both financial and non-financial performance, and help ensure the long-term sustainability of the business. The study concludes that companies that implement CSR initiatives can expect to see significant benefits in terms of performance, and that such initiatives should be viewed as investments in the company's long-term success.