Indian Journal of Science and Technology

Abstract

Good governance entails responsibility and due regard to the expectations of all stakeholders (Kendall, 1999); not a single corporate can evaluated on the basis of economic parameters only which is profit, but they are also to be judged by their social and economic contributions. CSR (Corporate Social Responsibility) has become buzz not in India but also in all over the world. After announcement of New Companies Act 2013, in most of the corporate and business debate it has become topic of discussion. No doubt that importance of CSR emerged ominously in last few years; Indian corporate sector has also witnessed the shift from philanthropic CSR to dedicated CSR activities5. CSR and Corporate Governance issues are now not limited to Board room but it is a tool to evaluate the strategic significance of corporate contribution towards inclusive growth. Companies have become more translucent and attentive towards their CSR goals and reporting of the same. This paper seeks to explore the trends in CSR practices among top five Indian pharma and healthcare listed companies. Here attempt has been made to draw the findings of whether companies engaging themselves in good CSR practices as per regulators guidelines are better at the performance and growth or there is no correlation between these two variables. Authors have theoretically understood the concept and trends at international and National level with the help of literature review and then researchers have made the empirical study of top Indian corporate houses by studying their CSR data of last five years. Research topic is bit exhaustive, that is why Researchers have used tables to conclude the research. 
Keywords: Corporate Governance, Corporate Social Responsibility, Financial Performance, Performance, Pharma Companies