TITLE:
Impact of Corporate Social Responsibility on Economic and Environmental Performance of Financial and Non-Financial Firms
AUTHORS:
Israr Khan, Mansi Wang, Xinyi Hong, Xinxin Yu, Muhammad Ashraf Mukhtar, Tan Chen, Rahim Ullah
KEYWORDS:
Corporate Social Responsibilities, Corporate Governance, Environment Priorities, Environment Reporting, Corruption & Bribery, Health & Safety
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.11 No.12,
December
22,
2023
ABSTRACT: This study aims to analyze the impact of corporate social responsibility
(CSR) on the performance of financial and non-financial institutions in
Pakistan, focusing on business management, ecological environmental factors,
and social dimensions. It seeks to propose measures for enhancing CSR in
Pakistan and adopting a more effective CSR system within these institutions.
The CSR theory in this study is developed based on a comprehensive literature
review. Data for this research were collected through questionnaires in five
selected industries in Pakistan: Petroleum, Banking, Media, Telecom, Chemical,
and Fertilizer, across various major cities. Qualitative methods and an OLS
regression model were employed for analysis, utilizing SPSS and E-Views
software. The study reveals that all independent variables significantly impact
CSR, indicating a positive contribution of CSR structures to the performance of
Pakistan’s financial and non-financial sectors. The conclusion emphasizes the
limited number of CSR studies in Pakistan, highlighting the need for a unique
framework for future research. The intentional constant concept, illustrating
CSR theory, finds support from various stakeholders. The report includes a
persuasive Industrial, Commercial Level, and Grade design to secure
authoritative rankings, facilitating the idea and deducing a period of
industrial constant and transition. The findings show that the support for
social requirements is influenced by various parties, including firms,
corporations, social activists, NGOs, and others.