A Bibliometric Analysis of the Relationship between Corporate Social Responsibility (CSR) and Firm Performance in Bangladesh
Tipon Tanchangya
Department of Finance, University of Chittagong, Chittagong 4331
Asif Raihan
Universiti Kebangsaan Malaysia
Junaid Rahman
Department of Finance, University of Chittagong, Chittagong 4331
Mohammad Ridwan
Department of Economics, Noakhali Science and Technology University, Noakhali 3814
Naimul Islam
Department of Accounting, Finance and Economics, University of Greenwich
DOI: https://doi.org/10.59429/ff.v2i2.6550
Keywords: Corporate social responsibility, Firm performance, Financial outcomes, Bibliometric analysis, Bangladesh
Abstract
This paper seeks to examine the literature on corporate social responsibility (CSR) in order to offer a comprehensive overview of the potential impact of CSR on organizational financial outcomes. The paper also examines CSR research in Bangladesh with a more detailed perspective. Data were collected from several reliable sources, such as Web of Science, Scopus, ScienceDirect and Google Scholar, and data range is 2000 to 2024. Based on a thorough analysis of 45 recent empirical studies, it is evident that the literature strongly supports the positive impact of CSR on firm financial performance. However, the overall findings remain inconclusive. The existing research on CSR and its impact on firm performance addresses several key aspects. These include the theoretical foundation, measurement of CSR, methodological considerations, the importance of considering intervening factors in the relationship between CSR and firm performance, and the potential for further exploration of this topic in developing and emerging economies. The existing literature on the relationship between CSR and firm performance in Bangladesh exhibits similar issues. Research in this field is currently lacking in both quantity and quality, which is evident in several issues. These include a limited number of international publications, a lack of theory-driven research, and less rigorous research design. Based on these findings, it is recommended that future research takes a multi-theoretical approach to gain a more comprehensive understanding of how CSR impacts firm performance. Additionally, more rigorous methodologies should be employed to measure various dimensions of CSR and address the issue of endogeneity in the causal relationship between CSR and firm performance. Furthermore, further investigation is needed to understand why and how CSR can enhance firm financial performance in the presence of situational factors. Lastly, it is important to expand the literature by gathering more evidence from different country contexts, including developing and emerging countries.
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