Corporate social responsibility and firm performance: Case of Kazakhstan

Abstract

The research seeks to find a relationship between Corporate Social Responsibility (CSR) and companies' performance. Studied variables were measured and analysed using a sample of companies listed on the Kazakhstan Stock Exchange (KASE). The study employed the regression model and least squares technique as the primary analytical tools. CSR is examined in conjunction with variables such as Return on Assets, Return on Equity, Market Value, and Net Profit Margin. As a result of the research, it was found that firm performance and CSR relate to each other in the studied companies. The research found a positive correlation between CSR practices and Net Profit Margin in Kazakh companies. While this study focused on a single country, its methodology can be applied to research in other emerging and developing nations. The primary contribution of this research is the examination of the relationship between firm performance and CSR practices in the post-Soviet emerging market of Kazakhstan.