Corporate Social Responsibility: A Literature Review

Abstract

Though corporate social responsibility became commonly debated in the last forty years of the twentieth century, at least as early as the nineteenth century, the notion that the company has moral responsibilities became apparent. The corporate social responsibility framework continuously adapts to global market needs. Given the recent advent of corporate social responsibility and sustainability concepts, as well as methodologies and criteria used to meet standards of "fair" business. However, a common connotation of corporate social responsibility (CSR) has not been standardized, although the CSR-related principles and norms are now being established. Between academicians and professionals, there is an increasing concern in corporate social responsibility. Companies are also supposed to be open not only to their creditors but to society at large. Margolis and Walsh (2001) and Orlitzky et al. (2003) presented round-about ninety-five analytical data on CSR and financial results over the period 1972 to 2001. CSR was an independent variable in these studies; while financial output was variable based. Fifty-three percent had a positive relationship with them, twenty-four percent had no partnership with them, nineteen percent had mixed relationships with them, and five percent had harmful relationships with them. Dam (2008) has presented analytical data on CSR and financial results, but there was one difference and one aspect that was normal. The novelty of the study was the distribution of empirical findings in tabulated form focused on asset returns (ROA), equity returns (ROE), selling returns (ROS), Tobin's Q, and stock market returns, and it was popular that only empirical findings were tabulated from 1972 to 2001. For companies and prospective scholars, the findings of this study are important regarding corporate social responsibility and consumer behaviour.