Corporate social responsibility of firm’s during covid-19 pandemic: evidence from cross national studies.with exceptional reference to msmes

Abstract

Over the year, the whole world has been struggling with the covid-19 pandemic in business and its stakeholders, general public. The people and business firms across the globe were strongly committed and to working together and helping each other in possible way during the unprecedented times filled with fear and uncertainty. The awareness about Corporate Social Responsibility practices is growing among several stakeholders of business firms. In the 21st Corporate Social Responsibility firms are facing challenges like stiff competition. The present study attempts to explore firm’s response towards Covid-19 and CSR outlays to support vital stakeholders. The objective of the present study was to understand the conceptual base of corporate social responsibility and to look over the literature review from two perspectives i.e, Financial and social perspective. The data has been collected from various articles, peer-reviewed journals, CSR Box and guidelines released by ministry of corporate affairs and the top firms spent on CSR activities beyond 100 crores were chosen with help of Inclusion and Exclusion criteria and it is descriptive study. The findings of the study revealed that CSR has provided business firms with ample of investment opportunities to spend on Covid-19 pandemic crisis and social welfare, also it was found that all the firms have spent on CSR outlays and CSR act as supporting arm to face the unprecedented times.