International Journal of Business Ethics in Developing Economies

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Social Value of Investment towards Corporate Social Responsibility – Evidence from Navratna Company in India


Affiliations
1 Center for Environment and Development, Kolkata, West Bengal, India
2 Professor & Head, Department of Fire Safety Management, Department of Exec. PG Programme in Management, Department of PG Diploma in Supply Chain & Logistics Management, Indian Institute of Social Welfare & Business Management, Management House, West Bengal, India
     

   Subscribe/Renew Journal


The aim of this paper is to review the status of corporate CSR practices in a large Navratna Company in India, by critically appraising the resource application in the spectrum of focus areas, schedule VII of the CSR rules, and the consequent impacts. Finally, the study explored the extent of upgradation of social value due to such CSR initiatives. For the purpose of the study, we selected Oil India Limited (OIL), being an upstream company under the sector of crude oil exploration. The findings showed that through its social development activities, OIL has invested immensely in long-term governmental schemes like Swachh Vidyalaya/Swachh Bharat Abhiyan and LPG connections for BPL families, which will address various problems related to education, women, and the environment. Efforts under Swachh Vidyalaya/Swachh Bharat Abhiyan will address twin problems of girl child education and sanitation. The impact of LPG connections for BPL families will be felt on environment as it will reduce the burning of wood and other pollution generating material and at the same time reduce deforestation by reducing the use of wood as domestic fuel in the rural areas.

Keywords

Corporate Social Responsibility, Social Value, Corporate CSR Practices, Focus Area, Companies Act, India
Subscription Login to verify subscription
User
Notifications
Font Size


  • Banerjee, B. (2001). Corporate financial reporting practices in India. Indian Journal of Accounting, 33, 1-17.

  • Batra, G. S. (1996). Dynamics of social auditing in corporate enterprises: A study of the Indian corporate sector.Managerial Auditing Journal, 11(2), 36-45.

  • Beurden, P., & Gossling, T. (2008). The worth of values: A literature review on the relation between corporate social and financial performance. Journal of Business Ethics, 82(407).

  • Bowen, H. R. (1953). Social responsibilities of the businessman. New York: Harper and Row.

  • Buldybayeva, G. (2014). Both sides of CSR practice: A case from oil and gas industry in Kazakhstan. Acta Polytechnica Hungarica, 11(2), 229-248.

  • Carroll, A. (1999). Corporate social responsibility: Evolutional of a definitional construct. Business and Society, 38(3), 268-295.

  • Carroll, A., & Shabana, K. (2010). The business case for corporate social responsibility: A review of concepts, research and practice. International Journal of Management Reviews, 12(1), 85-105.

  • Dahlsrud, A. (2008). How corporate social responsibility is defined: An analysis of 37 definitions. Corporate Social Responsibility and Environmental Management, 15(1), 1-13.

  • Danilovic, M., Hensbergen, M., Hoveskog, M., & Zadayannaya, L. (2015). Exploring diffusion and dynamics of corporate social responsibility. Corporate Social Responsibility and Environmental Management, 22(3), 129-141.

  • De Roeck, K., & Delobbe, N. (2012), Do environmental CSR initiatives serve organization’s legitimacy in the oil industry? Exploring employee’s reactions through organizational identification theory. Journal of Business Ethics, 110(4), 397-412.

  • Fisher, J. (2004). Social responsibility and ethics: Clarifying the concepts. Journal of Business Ethics, 52(4), 391-400.

  • Frynas, J. G. (2009). Corporate social responsibility in oil & gas sector. The Journal of World Energy Law and Business.

  • Frynas, J. (2012). Corporate social responsibility or government regulation? Evidence on oil spill prevention.Ecology and Society, 17(4).

  • Garriga, E., & Mele, D. (2004). Corporate social responsibility theories: Mapping the territories. Journal of Business Ethics, 53(1-2), 51-71.

  • Ghobadian, A., Money, K., & Hillenband, C. (2015).Corporate responsibility research: Past-present-future.

  • Group & Organization Management, 40(3), 271-294.

  • Global Justice Now. (2016). 10 biggest corporations make more money than most countries in the world combined.Retrieved from http://www.global justice.org.uk/ sites/ default/files/files/resources/corporations_vs_governme nts_final.pdf

  • Godfrey, P. C., & Hatch, N. W. (2007). Regarding corporate social responsibility: An agenda for the 21st century.Journal of Business Ethics, 70(1), 87-98.

  • Grassel, E., & Schirmer, B. (2006). The use of volunteers to support family careers of dementia patients: Results of prospective longitudinal study investigating exceptions towards and experience with training and professional support. Zeitschrift Fur Gerontologie Und Geriatie, 39(3), 217-226.

  • Guenther, E., Hoppe, H., & Poser, C. (2006). Environmental corporate social responsibility of firms in the mining and oil and gas industries: Current status quo of reporting following GRI guidelines. Greener Management International, (53), 7-25.

  • Gulsecen, A., & Kubat, A. (2006), Teaching ICT to teach candidates using PBL: A qualitative and quantitative evaluation. Education, Technology and Society, 9(2), 96-106.

  • Hyde, K. A. L., Ocitti, J. P., Bua, V. E., & Abagi, O. (1997).Complementary opportunity for primary education programme interim review (Final report). UNICEF/ Kampala and Ministry of Education, Kampala.

  • Idemudia, U. (2009). Oil extraction and poverty reduction in the Niger Delta: A critical examination of partnership initiatives. Journal of Business Ethics, 90(1), 91-116.

  • Ite, U. E. (2004). Multinational and corporate social responsibility in developing countries: A case study of Nigeria. Corporate Social Responsibility and Environmental Management, 11(1), 1-11.

  • Johnson, M. P. (2006). Decision models for the location of community correction centers. Environment and Planning, 33(3), 393-412.

  • Lance, M. (2001). What do we mean by corporate social responsibility? Corporate Governance, 1(2), 16-22.

  • Maheshwari, G. C. (1993). Corporate characteristics & social responsibility reporting. Asian Review of Accounting, 1(1), 31-42.

  • Manakkalathil, J., & Rudolf, E. (1995). Corporate social responsibility in a globalizing market. SAM Advanced Management Journal, 47, 29-32.

  • Oil India Limited. (2017). Annual reports. Retrieved September 22, from oil-india.com:http://oil-india.com/ Document/financial/Annual_Report_2016-17_22092017.pdf

  • Oil India Limited. (2020). Annual report on CSR 201819. Retrieved from oil-india.com:http://oil-india.

  • com/Document/CSR/Annual_Report_on_CSR_ Activities_2018-19.pdf

  • Oil India Limited. (n.d.). Annual report on CSR 201718. Retrieved from oil-india.com:http://oil-india. com/Document/CSR/Annual_Report_on_CSR_ Activities_2017-18.pdf

  • Oil India Limited (n.d.). Annual report on CSR 201617. Retrieved from oil-india.com:http://oil-india.

  • com/Document/financial/Annual_Report_on_CSR_ Activities_2016-17.pdf

  • Okoye, A. (2009). Theorising corporate social responsibility as an essentially contested concept: Is a definition necessary? Journal of Business Ethics, 89(4), 613-627.

  • Oppewal, H., Alexander, A., & Sullivan, P. (2006).Consumer perceptions of corporate social responsibility in town shopping centres and their influence on shopping evaluations. Journal of Retailing and Consumer Services, 13, 261-274.

  • Paul, K. C., & Pal, B. (2001, December). Corporate environmental reporting in India. Indian Accounting Review, 27-45.

  • Pramanik, A. K., Shil, N. C., & Das, B. (2007). Environmental accounting and reporting with special reference to India.

  • Munich Personal RePEc Archive, 7712, 1-26.

  • Rahman, S. (2011). Evaluation of definitions: Ten dimensions of corporate social responsibility. World Review of Business Research, 1(1), 166-176.

  • Sheehy, B. (2015). Defining CSR: Problems and solutions.Journal of Business Ethics, 131(3), 625-648.

  • Singh, D. R., & Ahuja, J. M. (1983). Corporate social reporting in India. International Journal of Accounting,18(2), 151-170.

  • Spector, B. (2008). Business responsibilities in a divided world, the cold war roots of the corporate social responsibility movement. Enterprise and Society, 9(2), 314-336.

  • Spence, J., Ferris, D., Brown, D., & Heller, D. (2011). Understanding daily citizenship behaviors: A social

  • comparison perspective. Journal of Organizational Behavior, 32(4), 547-571.

  • Tellis, W. (1997). Introduction to case study. The Qualitative Report, 3(2), 1-14.

  • Tuodolo, F. (2009). Corporate social responsibility: Between civil society and the oil industry in the developing world. ACME: An International Journal for Critical Geographies, 8(3), 530-541.

  • Van Marrewijik, M. (2003). Concepts and definitions of CSR and corporate sustainability: Between agency and communion. Journal of Business Ethics, 44(2-3), 95-105.

  • Votaw, D. (1972). Genius became rare: A comment on the doctrine of social responsibility. California Management Review, 15(2), 25-31.

  • World Bank. (2011). The changing wealth of nations: Measuring sustainable development in the new millennium. Washington, DC: World Bank.

  • World Business Council for Sustainable Development (WBCSD). (2000). Corporate social responsibility:Making good business sense. Retrieved from www. wbcsd.org:www. wbcsd.org

  • Yin, R. K. (2009). Case study research: Design and methods. Thousand Oaks, CA: Sage.

  • Zainal, Z. (2007). Case study as a research method. Jurnal Kemanusiaan, 1-6.


Abstract Views: 323

PDF Views: 0




  • Social Value of Investment towards Corporate Social Responsibility – Evidence from Navratna Company in India

Abstract Views: 323  |  PDF Views: 0

Authors

Zakir H Molla
Center for Environment and Development, Kolkata, West Bengal, India
Sarbani Mitra
Professor & Head, Department of Fire Safety Management, Department of Exec. PG Programme in Management, Department of PG Diploma in Supply Chain & Logistics Management, Indian Institute of Social Welfare & Business Management, Management House, West Bengal, India

Abstract


The aim of this paper is to review the status of corporate CSR practices in a large Navratna Company in India, by critically appraising the resource application in the spectrum of focus areas, schedule VII of the CSR rules, and the consequent impacts. Finally, the study explored the extent of upgradation of social value due to such CSR initiatives. For the purpose of the study, we selected Oil India Limited (OIL), being an upstream company under the sector of crude oil exploration. The findings showed that through its social development activities, OIL has invested immensely in long-term governmental schemes like Swachh Vidyalaya/Swachh Bharat Abhiyan and LPG connections for BPL families, which will address various problems related to education, women, and the environment. Efforts under Swachh Vidyalaya/Swachh Bharat Abhiyan will address twin problems of girl child education and sanitation. The impact of LPG connections for BPL families will be felt on environment as it will reduce the burning of wood and other pollution generating material and at the same time reduce deforestation by reducing the use of wood as domestic fuel in the rural areas.

Keywords


Corporate Social Responsibility, Social Value, Corporate CSR Practices, Focus Area, Companies Act, India

References