CSR Initiatives During Covid-19: A Study of Top 100 Indian Listed Companies

Abstract

The paper aims to demonstrate the philanthropic initiatives of the select Indian companies during COVID-19 to protect and support their three important stakeholders: employees, community, and customers. The study is based on a systematic literature review (SLR) focusing on literature available on CSR initiatives undertaken worldwide during COVID-19 provided in Scopus and the Web of Science databases. Further, manual content analysis has been conducted to examine the CSR initiatives of the S&P BSE 100 companies. Results showcase that despite a distressing business situation with complete uncertainty, the sample companies have proactively engaged in CSR initiatives to support their stakeholders (employees, community, and customers) through a slew of measures such as remote and on-site working arrangements, support for basic necessities and health-care, maintenance of steady operations, and so on. This study is one of the very few studies that addresses the CSR initiatives taken by the top 100 listed companies in India in the context of the COVID-19 pandemic based on the stakeholder theory perspective. The findin gs of the study can be evaluated by stakeholders to reflect on business' role in promoting social welfare during a crisis period. Academicians, practitioners, and policy makers can evaluate the CSR practices undertaken during the COVID-19 pandemic to give recommendations on what kind of CSR initiatives are desirable in such-pandemic like crisis times.