Abstract
The study highlights the divergence in resource allocation towards corporate social responsibility (CSR) and health, safety, and wellbeing (HSW) across the different ownership categories. The study looks at CSR and HSW investments as part of the firm’s external and internal sustainability objectives, respectively. This study uses panel data multiple regression with ordinary least square random-effects model on a sample of 4158 Indian firms within the period 2014 to 2020 with a total of 24,168 observations to test its hypothesis. The results indicate that state-owned enterprises (SOEs) have a substantially higher impact than private-sector firms on sustainability initiatives. Meanwhile, there is heterogeneity in the resource allocation on sustainability by the different ownership categories in the private sector. On the other hand, foreign institutional investors (FIIs) stimulate sustainability investments while being predominantly present in some of the worst CSR performers.
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