Abstract
Aims: CSR is considered one of the major elements that imapcts the financial performance, and it significantly helps organisations to maintain their stability and overall performance. Therefore, the aim of the current study was to assess the role of CSR in the financial performance of firms in the UK.
Method: The current study is based on a secondary quantitative research method, as a researcher has derived information from six different banks in the UK, covering the period of 2017 to 2021. For data analysis, descriptive, correlation, Hausman, and GLS random effects were used through using Stata software.
Introduction
The corporate social responsibility is one of the major aspects in the firms’ performance. Corporate social responsibility is a major part as it allows for maintaining the corporate environment. CSR strategies are aimed at building a healthy corporate culture, maintaining legal and ethical standards, and being environmentally friendly. CSR can be most effectively integrated into a firm’s strategic plan in a manner that will contribute to the creation of a sustainable business model that can enhance the firm’s status and performance (Bag & Omrane, 2022). CSR expenditure is an example that indicates that a firm is willing and able to fulfill its obligations in an ethical manner as well as the environment and the society.
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