Empirical Study of the Components of CSR Practices in India: A Comparison of Private, Multinational and Public Sector Companies

Abstract

Purpose: - The purpose of this paper is to identify the CSR practices, analyze their underlined components and study them for such component’s similarities/differences across Private Indian Companies (PC), Multinational Companies (MNC) and Public Sector Companies (PSCS).

Design/methodology/approach: - The study is based on primary data. The sample consisted of 145 companies including 65 Private Indian Companies (PICs), 51 Multinational Companies (MNCs) and 29 Public Sector Companies (PSCs) working in India of various sector. The data thus generated was analyzed with the help of factor analysis.

Findings: - The study finds that there is no major difference in components of CSR practices of PICs, MNCs and PSCs. The identified CSR factors emerged from PICs are Employee Welfare, Environmental and Natural Resources Protection, Community Development and Community Affairs. The identified CSR factors emerged from MNCs are Community Welfare, Employee Development & Safety, Environmental and Natural Resources Protection, Working under law and compliance, Employment Generation and Community Support and that of PSCs are Employee Welfare and Social Support, Sustainable Development, Community Development and Heath & Scholarship Program. The difference lies only in priority/preference to follow CSR practices.

Research/limitations/implications: - The present study provides a starting-point for further research in Corporate Social Responsibility Initiatives. This paper is of value to the researcher and practitioners of corporate social responsibility. The study would help others companies who yet to start CSR and to actualize their CSR interventions.

Keywords: Corporate Social Responsibility, CSR, CSR Trends, CSR Practices, Community Welfare, Sustainability