| Title : | Corporate social responsibility and its impact on financial performance of Nepalese insurance companies | | Material Type: | printed text | | Authors: | Preeti Deo, Author | | Publication Date: | 2017 | | Pagination: | 106p. | | Size: | GRP/Thesis | | Languages : | English | | Descriptors: | Corporations-Public relations
Social responsibility of business
| | Class number: | 658.408 | | Abstract: | Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. Importance and significance of the concept of corporate social responsibility (CSR) has been continuously growing in the recent decades. It has been the subject of considerable debate, commentary, theory building and research. Literatures suggest that companies benefit from being able to demonstrate their social responsibility towards different stakeholders. However, there is no strong consensus as to whether such initiatives could potentially lead to firm’s better financial performance or as a source of sustained competitive advantage. Some studies have shown positive relationship and other studies have shown negative or no relationship between company’s CSR practices and firm financial performance. Against these backdrops, this study mainly aimed at examining the impact of corporate social responsibility on financial performance of Nepalese insurance companies. The quantitative sample of this study included data from 15 insurance companies for the period of 2014/15 with 158 observations to examine the impact of CSR on financial performance.
The study revealed that economic CSR, legal CSR and workplace CSR have positive and significant impact on ROA which means that better the economic CSR, legal CSR and workplace CSR higher would be the ROA. However, ethical CSR and discretionary CSR have negative impact on ROA. Similarly, economic CSR, ethical CSR and discretionary CSR have positive impact on Tobin’s q which means better the economic CSR, ethical CSR and discretionary CSR higher would be the Tobin’s q. However, legal CSR and workplace CSR have negative and significant impact on Tobin’s q for Nepalese insurance companies.
Recommendations are given on the basis of the findings of the study. The results of the study suggest that management should realize the importance of corporate social responsibility for the success of their organization. Hence, if the Nepalese insurance companies have good corporate social responsibilities policies and performing mechanism in the form of economic CSR, legal CSR, ethical CSR, discretionary CSR and workplace CSR, it will tend to increase the firm performance.
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Corporate social responsibility and its impact on financial performance of Nepalese insurance companies [printed text] / Preeti Deo, Author . - 2017 . - 106p. ; GRP/Thesis. Languages : English | Descriptors: | Corporations-Public relations
Social responsibility of business
| | Class number: | 658.408 | | Abstract: | Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. Importance and significance of the concept of corporate social responsibility (CSR) has been continuously growing in the recent decades. It has been the subject of considerable debate, commentary, theory building and research. Literatures suggest that companies benefit from being able to demonstrate their social responsibility towards different stakeholders. However, there is no strong consensus as to whether such initiatives could potentially lead to firm’s better financial performance or as a source of sustained competitive advantage. Some studies have shown positive relationship and other studies have shown negative or no relationship between company’s CSR practices and firm financial performance. Against these backdrops, this study mainly aimed at examining the impact of corporate social responsibility on financial performance of Nepalese insurance companies. The quantitative sample of this study included data from 15 insurance companies for the period of 2014/15 with 158 observations to examine the impact of CSR on financial performance.
The study revealed that economic CSR, legal CSR and workplace CSR have positive and significant impact on ROA which means that better the economic CSR, legal CSR and workplace CSR higher would be the ROA. However, ethical CSR and discretionary CSR have negative impact on ROA. Similarly, economic CSR, ethical CSR and discretionary CSR have positive impact on Tobin’s q which means better the economic CSR, ethical CSR and discretionary CSR higher would be the Tobin’s q. However, legal CSR and workplace CSR have negative and significant impact on Tobin’s q for Nepalese insurance companies.
Recommendations are given on the basis of the findings of the study. The results of the study suggest that management should realize the importance of corporate social responsibility for the success of their organization. Hence, if the Nepalese insurance companies have good corporate social responsibilities policies and performing mechanism in the form of economic CSR, legal CSR, ethical CSR, discretionary CSR and workplace CSR, it will tend to increase the firm performance.
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