Corporate Social Responsibility On Financial Performance
Impact of corporate social responsibility on financial performance: From the view point of Banking sector of Bangladesh
Introduction:
The Corporate Social Responsibility (CSR) movement has assembled great thrust over the ancient integer of ages and today CSR is surfacing gradually and gaining its acceptance by businesses across the world. For being reason CSR is one of the most conversed topics to the government, by nongovernment and by business itself. The old proverb, “Everybody talks about society, but nobody does anything about it” is not valid in this century because Almona, C. P. (2005) alleged that the role of business worldwide and specifically in the developed economies has evolved over the last few decades from classical ‘profit maximizing’ approach to a social responsibly approach, where businesses are not only responsible to its stockholders but also to all of its stakeholders in a broader inclusive sense. One can identify so many reasons for shifting the role of business from classical concept to a responsible business concept, but negative impression of stakeholders on the enterprise would get a higher priority among others. In one hand, enterprises create wealth and job opportunities for the society and on the other; they pollute and destroy environment and ecology with devastating impact on human health and biodiversity worldwide [1]. As earlier the researchers said that CSR practices are found in government, non-government and business sectors. Now the banking sectors are not out of the area of business world because it has direct or indirect relationship to the government, non-government and business sectors. The banking sector of Bangladesh involves of private commercial banks, public commercial banks and specialized banks. Where there are more than fifty six commercial banks; dominating Bangladesh’s financial sectors. To get this competitive advantage from their rival, CSR is one of the main instruments. CSR is now considered as an integral
Introduction:
The Corporate Social Responsibility (CSR) movement has assembled great thrust over the ancient integer of ages and today CSR is surfacing gradually and gaining its acceptance by businesses across the world. For being reason CSR is one of the most conversed topics to the government, by nongovernment and by business itself. The old proverb, “Everybody talks about society, but nobody does anything about it” is not valid in this century because Almona, C. P. (2005) alleged that the role of business worldwide and specifically in the developed economies has evolved over the last few decades from classical ‘profit maximizing’ approach to a social responsibly approach, where businesses are not only responsible to its stockholders but also to all of its stakeholders in a broader inclusive sense. One can identify so many reasons for shifting the role of business from classical concept to a responsible business concept, but negative impression of stakeholders on the enterprise would get a higher priority among others. In one hand, enterprises create wealth and job opportunities for the society and on the other; they pollute and destroy environment and ecology with devastating impact on human health and biodiversity worldwide [1]. As earlier the researchers said that CSR practices are found in government, non-government and business sectors. Now the banking sectors are not out of the area of business world because it has direct or indirect relationship to the government, non-government and business sectors. The banking sector of Bangladesh involves of private commercial banks, public commercial banks and specialized banks. Where there are more than fifty six commercial banks; dominating Bangladesh’s financial sectors. To get this competitive advantage from their rival, CSR is one of the main instruments. CSR is now considered as an integral