Do Family Firms Comply to CSR Regulation: An Empirical analysis of Listed Firms in India.

Working Papers
Chittoor, Raveendra.,Bang, Nupur Pavan., Ramachandran, Kavil., Basuthakur, Yashodhara. "Do Family Firms Comply to CSR Regulation: An Empirical analysis of Listed Firms in India.", Sage Publishers, India
Abstract:
The study investigates the compliance of family firms to the mandatory corporate social responsibility (CSR) regulation passed by the Government of India in year 2013. We test the CSR compliance of family and non-family firms and then examine the heterogeneity within family firms measured by family ownership and management. The study also looks at the specific areas of CSR spent, mode of implementation, effect of institutional shareholding, and the presence of women directors. Using a distinct and improved source of data on corporate social responsibility, this paper empirically shows that family firms and corporate social responsibility are positively associated. It supports the theory that family firms engage in social initiatives to enhance their socioemotional wealth and respond to stakeholder claims.