Scholarly Research Journal for Interdisciplinary Studies, Online ISSN 2278-8808, SJIF 2016 = 6.17, www.srjis.com UGC Approved Sr. No.49366, NOV-DEC 2017, VOL- 4/37 https://doi.org/10.21922/srjis.v4i37.10587
A COMPARATIVE ANALYSIS OF MANDATORY CSR SPENDING BY INDIAN COMPANIES Monica Aggarwal, Ph. D. Assistant Professor, Aryabhatta college, University of Delhi
With the revamping of Companies Act, 2013, India has witnessed a new dimension of CSR for the companies. Now CSR has been made mandatory for Indian companies of a particular financial strength. With this backdrop of mandatory CSR, an attempt has been made in the current paper to examine whether there is statistical difference in the actual CSR spending of companies across industries. For this purpose, a sample of 50 companies divided into five industries is taken. CSR spending for accounting year 2014-15 has been taken. One-way ANOVA has been used to make the analysis which is carried out on SPSS version 20. On the basis of results, the study concludes that industries differ significantly with respect to CSR spending by companies in those industries. Keywords: CSR spending, ANOVA, mandatory CSR, Mean plot, Industries. Scholarly Research Journal's is licensed Based on a work at www.srjis.com
I.
Introduction
India has one of the world‟s richest traditions of corporate social responsibility (CSR). The concept of CSR is not new to India. CSR originated as a voluntary attempt by companies to serve the society in early 20th century. Over last seven decades, CSR has grown from a narrow and marginalised notion into a complex multi-faceted concept, one which is increasingly central to today‟s corporate decision making (Cochran, 2007). There has been a continuous discussion over the nature and extent of CSR and it has evolved from just an individualistic philanthropic initiative to a holistic corporate strategic decision. Amidst this transformation, which is still continuing, a lot of literary work has been done in terms of giving new definitions to the term CSR, coining of various theories and development of models. A detailed attempt has been made by both business and academic communities to give sharpness to the meaning of CSR and therefore as a consequence there is a myriad of definitions for CSR without any unanimous one single definition till date.Since then it has evolved in terms of conceptualization but remained a voluntary initiative by the companies. Despite of the fact that CSR has been a voluntary initiative, Indian companies have always depicted a strong inclination to undertake Copyright © 2017, Scholarly Research Journal for Interdisciplinary Studies